James Meadway, an economist and former adviser to John McDonnell, critiques mainstream economics, particularly its treatment of the environment, arguing that the ecological crisis cannot be separated from economic issues. He hosts the podcast Macrodose, which aims to make economics more accessible while focusing on the intersections of climate and economy. Meadway highlights a disconnect between how economics is taught and real-world problems, noting that current curricula often ignore ecological concerns.
He gives examples of economic impacts from environmental disasters, such as the 2022 drought affecting European river transport, which contributed to rising inflation. Despite some financial institutions beginning to acknowledge these issues, he argues that the predominant focus on interest rates to tackle inflation is misguided. He believes this approach fails to address the underlying environmental factors affecting economies.
Meadway critiques the notion of carbon pricing, suggesting it views the environment as exploitable rather than as a force imposing limits on human actions. He contends that society’s relationship with nature is complex and cannot be treated merely as a hierarchy. Furthermore, he challenges growth-centric political narratives, arguing that future economic growth will be constrained by the climate crisis. Instead, he advocates for discussions around redistribution and resource management.
He views the degrowth movement as aligned with the necessary changes in production and consumption, although he believes it needs a better name. Meadway’s ultimate message encourages urgent action to address ecological crises in just and equitable ways.
