Arketa Institute Pensions Essay Published in The Steady State Herald

Matt wrote an article for the Steady State Herald on Arketa Institute’s A Path to Post-Growth Pensions report.

The Steady State Herald recently published an essay by Matt titled ‘The Promise of Post-Growth Pensions’. In it, he summarizes key points from our report, ‘A Path to Post-Growth Pensions’.

The essay reviewed the history of pensions, how we got here, and why the current pension system is not fit for purpose. We argue that that is the case because today’s pension funds focus on the growth of financial capital to the detriment of the natural, human, and social capital that we need to survive. A better pension system would look to boost the creation and growth of social and human capital, while protecting and restoring natural capital.

A number of factors stand in the way of changing pensions so that they better serve the needs of pensioners. These impediments include current laws that interpret fiduciary duty narrowly, focusing only on stewardship of financial capital.

Pension funds control about 1/3 of all assets on Earth and therefore have a great deal of power and influence. They therefore have the resources to surmount these barriers. Fundamental change will require vision and determination—from the public and the government as much as from pension-fund managers.

The Steady State Herald is the weekly blog of the Center for the Advancement of the Steady State Economy (CASSE), offering in‑depth journalism on topics related to limits to growth, ecological economics, and sustainable policy.

CASSE is a U.S. nonprofit based in Arlington, Virginia, dedicated to promoting the steady state economy — an alternative to perpetual economic growth, based on stabilized population and consumption, ecological sustainability, and human flourishing. The Steady State Herald serves as its primary platform for public education, policy advocacy, and research dissemination.