Steady State Economy - Benefits

Benefits

The benefits of a steady state economy can be grouped in three categories: environmental, lifestyle, and moral. Environmental benefits stem from the establishment of a steady state economy at a sustainable scale. An economy with stable population and consumption features decreased liquidation of natural resources and less waste deposition in the environment. Such an economy that respects biophysical limits does not excessively disrupt natural ecosystems and ecosystem services. It is sized to balance with nature and protect the life-giving resources and processes of the planet.

The lifestyle benefits of a steady state economy are numerous. Life is downshifted as overconsumption, congestion, sprawl, and unfair trade practices fade away. Efficiency is still valued, but the tasks for which we seek maximum efficiency are more carefully considered. People have more time and inclination to focus on community, relationships, sufficient consumption, and other important life matters.

Establishment of a steady state economy also can provide significant moral benefits. First, on a planetary scale, limiting growth in nations that enjoy high levels of per capita consumption would leave more room for economic growth in those nations where citizens are getting by on low levels of consumption. In the long run, preventing over-consumption in the present leaves greater opportunities for future generations to meet their needs. Finally, limiting growth can lower the percentage of planetary resources appropriated to human economies, resulting in more room for nature and continued evolution of ecosystems and species.