Selective versus unselective growth

From time to time our position gets misrepresented – or is that misunderstood?  Here is what we said  in November 2012 about the need for selective growth in In Place of Growth (page 12). Our view has not changed.

“Sectors of the economy: selective growth within a steady state.
It is important to understand that a Steady State Manchester does not mean an end to growth in all sectors.  Some sectors, for example local food and energy production, need to increase considerably, but by the same token other areas need to decrease.  It is the aggregate physical size/growth of the economy that concerns us.   The overall effect will be a decrease in the size of the economy but sectors will continue to grow and contract within an aggregate decrease tending to a steady state.”

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