Reviewed on Dec 7, 2020

Must read 🏆

An exceptionally eloquent, powerful yet fair book. It sets out its case clearly, but always remembers to look at both sides of the argument.

My copy of this book is a small forest of post-it notes and frenzied scribbles. A sure sign I’ve engaged with the book and – probably – loved it. In the case of ‘The Growth Delusion’, both are true.

Pilling takes the reader on a tour of GDP and our obsession with economic growth: the technical flaws of the index itself (GDP) and the wider societal problems of trying to hitch our economic waggon to eternal growth. In the middle section, he looks at the developing world – and in the final section he examines the alternatives to GDP that are on offer – for example China’s ‘GDP Quality Index’, Canada’s Index of Wellbeing, or Maryland’s Genuine Progress Index (which is probably the pick of the bunch).

The writing throughout is engaging and forceful, it’s quite brilliant. But it’s also balanced. Pilling is quick to highlight the very close correlation between GDP growth in the developing world and improved child survival rates (ie GDP growth still has its value there). GDP may be a busted flush over here, but probably not over there. He also takes care to examine the potential flaws in the many alternatives to GDP that are on offer.

My own novel, 'How to Buy a Planet', satirises the damaging cult of eternal GDP growth. Pilling’s book puts a lot of flesh on the bones of those basic arguments. It’s possibly my favourite popular finance / economics read this year. It’s right up there with Michael Lewis’ books, but with more passion and less preening. I cannot recommend it more highly.

Reviewed by

D.A.Holdsworth started his career in finance, serving a two-year apprenticeship in fund management during a turbulent period that took in the bursting of the tech bubble and 9-11. From there he switched into educational publishing, and from there - finally - to writing novels.