Desirable Alternative to Economic Growth:
A steady state economy represents a positive alternative to the pursuit of endless economic growth. It is an economy that aims to maintain a stable level of resource consumption and a stable population. It is an economy where energy and resource use are reduced to levels that are within ecological limits and where the goal of maximising economic output is replaced by the goal of maximising quality of life.
There are four key features of a steady state economy: (1) sustainable scale (2) fair distribution (3) efficient allocation and (4) high quality of life.
An emphasis on high quality of life means that economic growth takes a backseat to things that really matter to people like health well-being secure employment leisure time strong
communities and economic stability.