GDI evening event: Is our growth finite?
The evening event at the Gottlieb Duttweiler Institute in Rüschlikon on August 26 showed that the topic of growth moves people. Mathias Binswanger and David Bosshart not only placed the topic of growth in a historical context, but also illustrated how difficult to impossible it is to break out of the current growth spiral.
Closing panel with speakers Prof. Binswanger and Dr. Bosshart
Historically, growth is a recent phenomenon - it only began in the 19th century. In the earlier agricultural economy, growth was limited by the finite land area. It was only with industrialization that this limitation became increasingly secondary - and strong growth was able to unfold.
Until recently, the term growth was associated with something positive. Parents were convinced that thanks to continuous growth, the next generation would have a better life.
This optimism is increasingly evaporating; citizens in developed industrial nations are concerned about whether our consumption of resources is ethically justifiable and sustainable. Recent studies show that the previous direct link between growth and happiness no longer exists. This saturation phenomenon is making more and more people think and question things.
Whereas in past decades the aim was to meet needs through growth, we are now in a situation where too many products on offer are frantically seeking buyers. Marketing and communication are increasingly becoming vicarious agents in the creation of needs. Professor Binswanger described it as a postmodern economic miracle that buyers can still be found at all for the gigantically large range of products.
Of course, before attending the event, it could not be expected that the two speakers would be able to show the way out of the dangerous growth spiral. Rather, both speakers were able to explain that a turn away from the growth path was not realistic for various reasons. Three reasons are listed here as representative of many others:
- The stock markets' expectation of the growth of listed companies
- The ever-increasing growth of the money supply and the associated devaluation of money
- The interconnectedness of economies through globalization.
Against this backdrop, marketers are increasingly asking themselves whether the previous task of marketing, to act as a sales stimulator, is still applicable and justifiable in the future.
