Tackling inequality is key to securing the public support needed to overhaul the global economy and reverse climate change, an update to the landmark 50-year-old computer simulation of environmental stress has found.
Based on modelling by MIT scientists of a world destabilised by growing consumption, the 1972 "Limits To Growth" simulation has been attacked as flawed by some but applauded by others as prescient of accelerating planetary stress.
To track wellbeing, the researchers created an 'Average Wellbeing Index' using data including disposable income, income inequality, government services, the climate crisis, perceived progress, and their relationship to measures of social trust. By making changes such as phasing out fossil fuel use, putting adequate pensions in place, taxing the richest 10% more and cancelling the debt of low-income countries, the Giant Leap pathway allowed wellbeing to continue to rise.
"We absolutely need to place a value on social and environmental and economic indicators at the same level," said co-author Sandrine Dixson-Decleve, co-president of the Club of Rome think tank which originally published the "Limits To Growth" report.
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