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Degrowth through Income and Wealth Caps?

Buch-Hansen, Hubert and Koch, Max LU (2019) In Ecological Economics p.264-271
Abstract
In the degrowth literature, maximum caps on wealth and/or income are frequently mentioned among the policy instruments that could support transitions towards ecologically and socially sustainable societies. Yet an in-depth discussion of concrete policy proposals has yet to be initiated. To facilitate such a discussion, the present paper reviews several proposals for placing caps on wealth and/or income. Some of these proposals consider environmental limits, others focus exclusively on social inequality. The paper moreover raises various critical issues concerning the introduction of maximum caps on wealth and income in a degrowth context, discussing the role of the state, the impact on economic growth and the risk of emigration of... (More)
In the degrowth literature, maximum caps on wealth and/or income are frequently mentioned among the policy instruments that could support transitions towards ecologically and socially sustainable societies. Yet an in-depth discussion of concrete policy proposals has yet to be initiated. To facilitate such a discussion, the present paper reviews several proposals for placing caps on wealth and/or income. Some of these proposals consider environmental limits, others focus exclusively on social inequality. The paper moreover raises various critical issues concerning the introduction of maximum caps on wealth and income in a degrowth context, discussing the role of the state, the impact on economic growth and the risk of emigration of high-skilled employees and capital flight. We conclude that while, in an ecologically constrained world, there is an argument for imposing limits on wealth and income above a certain level, it is crucial not to dictate such policies as mere top-down measures but to develop and deliberate them in democratic forums. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Degrowth, inequalities, Maximum income, Caps on wealth, eco-social policies
in
Ecological Economics
issue
160
pages
264 - 271
publisher
Elsevier
external identifiers
  • scopus:85062811677
ISSN
0921-8009
language
English
LU publication?
yes
id
aaea1576-b272-4197-946f-ed4e2e7ae1a2
alternative location
https://www.sciencedirect.com/science/article/pii/S0921800918314836
date added to LUP
2019-03-15 07:31:45
date last changed
2020-02-19 05:22:50
@article{aaea1576-b272-4197-946f-ed4e2e7ae1a2,
  abstract     = {In the degrowth literature, maximum caps on wealth and/or income are frequently mentioned among the policy instruments that could support transitions towards ecologically and socially sustainable societies. Yet an in-depth discussion of concrete policy proposals has yet to be initiated. To facilitate such a discussion, the present paper reviews several proposals for placing caps on wealth and/or income. Some of these proposals consider environmental limits, others focus exclusively on social inequality. The paper moreover raises various critical issues concerning the introduction of maximum caps on wealth and income in a degrowth context, discussing the role of the state, the impact on economic growth and the risk of emigration of high-skilled employees and capital flight. We conclude that while, in an ecologically constrained world, there is an argument for imposing limits on wealth and income above a certain level, it is crucial not to dictate such policies as mere top-down measures but to develop and deliberate them in democratic forums.},
  author       = {Buch-Hansen, Hubert and Koch, Max},
  issn         = {0921-8009},
  language     = {eng},
  month        = {04},
  number       = {160},
  pages        = {264--271},
  publisher    = {Elsevier},
  series       = {Ecological Economics},
  title        = {Degrowth through Income and Wealth Caps?},
  url          = {https://www.sciencedirect.com/science/article/pii/S0921800918314836},
  year         = {2019},
}