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A steady state economy is a model for shifting our mindset as a society away from growth and toward stability

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Herman Daly - Center for the Advancement of the Steady State Economy

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This model has it's roots in foundational economists such as Adam Smith and John Stuart Mill, but was ultimately conceptualized by American economist and Ecologist Herman Daly in the 1970s

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A steady state economy prioritizes quality of life over constant growth in sectors such as Gross Domestic Product (GDP), production, consumption, wealth, and population

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A steady state economy recognizes ecological limits as it strives for both a durable economy and sustainable world

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Ecological limits include our climate, which humans have damaged and increased the amount of carbon dioxide in the atmosphere to 420 parts per million (ppm). Another planetary boundary includes biodiversity, a decreasing statistic as humans continue to exacerbate extinction at rates never seen before. Further, our resources are quickly depleting as we continue to pollute the oceans, cut down trees, and exploit fossil fuels.

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In addition to our planetary boundaries, economic inequality continues to escalate as the concentration of wealth goes into fewer and fewer pockets due to this growth mindset

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The steady state economy model builds on the conversation for reform as it focuses on different economic indicies (such as the Genuine Progress Indicator), trade caps, tax reform, and ethical population control

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In an effort to limit the scope of advertisements I am exposed to on a daily basis, I deleted social media off of my phone. This removes a main driver of overconsumption in my life, and with less doom scrolling, I will have more time to contribute to more environmentally aware practices such as cooking vegan meals.