Abstract:
Europe's prolonged economic slowdown has reignited debates about the reasons for such a "secular stagnation" and how growth can be restored. By reviewing recent studies, this article argues that it would be hard to establish substantially higher rates of economic growth. But most importantly, rebooting growth is not even desirable. There is no realistic way that it could be environmentally sustainable - whether through the potentials of digitalisation or policies for an overall demand-led push. Instead, Europe should endorse a post-growth path, based on redistribution, sufficiency, economic security and sustainability. This would not only allow social well-being within planetary boundaries but also help to safeguard democracy.