Macroeconomics without growth

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This research is a significant contribution to ecological macroeconomics, ranking alongside notable works in the field. It is the first systematic exploration of the conditions for zero growth across various economic models. The book offers a comprehensive understanding of how non-growing economies can achieve sustainability, injecting new energy into discussions about post-growth, degrowth, and steady-state economies. Steffen Lange investigates economic theory to determine how a macro-economy can function without growth, drawing from a diverse array of theories, including Neoclassical, Keynesian, and Marxian perspectives. Key questions addressed include the feasibility of zero growth within a capitalist system, the effects on aggregate demand and supply when growth ceases, and the roles of firms, markets, and technological innovation in post-growth economies. Lange demonstrates that sustainable economies without growth are indeed possible from a macroeconomic standpoint, though significant changes are necessary. Essential economic institutions and dynamics—such as labor and natural resource pricing, company structures, and market frameworks—must be reconfigured. This book is essential for economists aiming to foster a sustainable future and for environmentalists seeking to grasp the economic principles behind sustainable transformations.