»Growth is not everything, that is true. But without growth, everything is nothing. Without growth, no jobs; without growth, no reform of the social security systems; without growth, declining wealth; without growth, more and more people will fall by the wayside.«
Federal Chancellor Angela Merkel, February 2010
Economic growth is on everybody’s lips and almost every day we come across the notion – assessed both positively and negatively – in the news from the worlds of politics and business.
Some believe growth is a prerequisite for full employment and the royal way to a happy affluent society, whereas others warn against the consequences of the lifestyles and consumption patterns concomitant with growth.