Once upon a time, the growth of a country’s Gross Domestic Product would actually lead to social progress. In the first few decades after the Second World War, growth was invested in collective institutions like health and education systems. Tax rates were progressive and growth was directed to those who needed it most.
Unfortunately, this so-called ‘Golden Age of Capitalism’ did not last very long. Within a few decades, we managed to shift to an economic system dictated by market fundamentalism. “We have been undermining our collective institutions, tax rates have been cut down for the very wealthiest and scientists are getting louder with their warnings about environmental breakdown”, author, researcher and advocate for a Wellbeing Economy Katherine Trebeck explains.
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