Economy will reopen hopefully next week: Stephen Moore
FreedomWorks economist Stephen Moore explains why it’s important to get the economy reopened by May 1st.
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Continue Reading Below
It would be natural to believe that nearly everyone on the planet is horrified by the death and economic destruction wrought from the COVID-19 pandemic. But some appear to see the body bags and the shutdown of economic production as a weird kind of blessing in disguise.
These are the proponents of a radical and increasingly chic movement on the left called "degrowth." This is the idea that economic growth and increased prosperity are the root CAUSE of massive ecological destruction and health pandemics.
The agenda is to shut down industrial production and industries like fossil fuels, automobiles and airline travel that contribute to global warming. COVID-19 and the economy lockdown are seen as a kind of test run for the theory.
For example, Professor Natasha Chassagne of the University of Tasmania and a disciple of this movement gushes that "we can draw many lessons and opportunities from the current health crisis when tackling planetary warming."
ABBOTT LABS TO SHIP 4M CORONAVIRUS ANTIBODY TESTS THIS MONTH
A former high-ranking climate adviser to the Obama administration, Jason Bordoff, writes in Foreign Policy magazine that "COVID-19 may deliver some short-term climate benefits by curbing energy use, or even longer-term benefits if economic stimulus is linked to climate goals," but he adds almost regretfully that the "benefits" from the pandemic in terms of less carbon emissions are likely to be "fleeting and negligible."
Degrowth is defended by its proponents as "a political, economic and social movement based on ecological economics, anti-consumerism and anti-capitalism."
CORONAVIRUS PATIENTS RESPONDING TO GILEAD DRUG REMDESIVIR: REPORT
The official degrowth website explains that COVID-19 is "an example of why degrowth is needed; it shows the unsustainability and fragility of our current way of life. Additionally, the response to covid-19 has shown that degrowth is possible, because society (and the state) has demonstrated an ability to dramatically change the modus operandi in response to a major crisis."
The philosophy that increased prosperity is the problem and not the solution to our societal problems is not new. In the 1970s, many on the left embraced the "limits to growth" ideology of too many people, too little food and energy, and imminent ecological disaster.
Those ideas were discredited over the ensuing 40 years as innovation and technology, plus a renewed appreciation of economic freedom, advanced rapid growth in living standards around the globe and massive surpluses of food and energy.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Of course, the origins of the limits to growth and, now, degrowth movements date back to the days of Thomas Robert Malthus, who famously and wrongly predicted that population growth would always outpace food and economic production.
These rotten and dangerous ideas are back in vogue, and the New Yorker magazine recently highlighted the fad on college campuses and in faculty lounges. It's the latest of leftist extremism — a subversive movement to keep an eye on.
What is scary is that some who subscribe to climate change hysteria, as well as the donors who provide the tens of billions of dollars of resources to climate issues, have come to agree that growth is the enemy and that we would all be better off if we were a little poorer.
It is wrong on so many levels one hardly knows where to start. First, economic freedom and growth go hand in hand and have inarguably positive benefits to the poorest citizens of the world and to health and the environment. Nations that have degrowth are much more polluted and have much higher death rates than the United States.
Environmental protection is the ultimate "superior good." The richer a society becomes, the more they spend on clean air, clean water and nature preservation.
The degrowth fad — hopefully it is just that — also reveals the modern left movement for what it is at its core. It is anti-growth, anti-people, anti-free enterprise and anti-prosperity. This raises the question of how we could ever rely on the left to fix our economy, help the poor and make us all more prosperous if their goal is to shrink the economy, not grow it?
CLICK HERE TO READ MORE ON FOX BUSINESS
Stephen Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks. He is the co-author of "Trumponomics: Inside the America First Plan to Revive the American Economy."
Source: Read Full Article