The dangerous and destructive myths of conventional economics include the claims that:
- economic theory can treat the natural environment as an infinite resource and infinite waste dump
- endless economic growth on a finite planet is feasible and desirable
- wealth trickles down from the rich to the poor
- well-being and welfare can be measured by GDP
- government intervention in the market must be avoided.
Since planetary boundaries have already been exceeded and low-income countries must develop, social justice demands that the rich countries undergo planned degrowth.
On the pathway to a sustainable civilization, environmental protection and social justice must be addressed together. Because the rich are responsible for the biggest environmental impacts, reducing the gap between rich and poor is critical.
Universal basic services such as improved public health, education, housing and transportation—and a government-funded job guarantee—can achieve greater equality and give people incentives to support the transition.