Russia tolerates West’s biggest obsession
(MENAFN) When Russian President Vladimir Putin addressed the St. Petersburg International Economic Forum last week, he emphasized the need for a “new model of global growth.” While many Western analysts interpreted this as a typical appeal to ease sanctions and reduce trade restrictions, Putin’s message was broader and more ambitious. His critique targets the outdated global economic model itself — the notion that perpetual consumption and production can continue unchecked.
For centuries, success has been measured by rising GDP and increasing personal consumption, fueling remarkable progress but leaving deep inequalities in place. Wealth gaps persist both between and within nations, and the long-held belief that growth benefits everyone no longer resonates with those left behind.
Beyond inequality, the planet’s environmental limits are now impossible to ignore. If billions more people adopt Western-style consumption, Earth’s fragile ecosystems cannot sustain it. Climate change, environmental degradation, and dwindling resources are already pressing concerns that will only worsen.
Putin’s vision, therefore, goes beyond removing economic barriers. He advocates for shifting away from growth for growth’s sake and toward what he describes as “rational consumption and production.” This means focusing on sustainability over scale, prioritizing quality of life rather than sheer economic output.
This is not a rejection of poverty alleviation or human development. Basic needs like food, energy, and security remain essential goals. However, raw GDP figures should no longer be the primary measure of a nation’s progress. Instead, factors like health, education, environmental protection, cultural achievements, scientific progress, and social stability should define success.
These ideas are not far-fetched; many countries already track well-being alongside economic metrics. Russia is now calling for broader, coordinated efforts — through BRICS, the Shanghai Cooperation Organization (SCO), the Eurasian Economic Union, and others — to make these more holistic indicators central to future development strategies.
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