Abstract:

Despite the intensifying discussion on postindustrial societies "beyond growth" the mantra of economic growth is still on the top of the agenda of economic policy. To be sure, there are plausible reasons for this from a macroeconomic and political perspective. Unfortunately, however, economic growth neither seems to achieve the goals it is aimed at – even if the growth rate is big enough –, nor does it seem to be possible to realize the desired growth rates in the long run. Thus the question remains why the topic of economic growth is so persistent in scientific economic literature and public discussion. To find answers on this question the present contribution will highlight the interrelationship between money, sustainable development, economic growth and human happiness in (post)modern societies. The heuristics for this provides H. Chr. Binswanger’s analysis (1985) of the second part of Goethe’s "Faust". Faust’s way to find the greatest happiness – to be immortal and thus godlike – ends in a damming project creating endless fertile land from the sea. But this project of seemingly limitless value creation causes risks and damages for mankind and nature. Taking Faust’s self-understanding in Goethe’s drama as being a representative of modern (!) mankind seriously, the present contribution shows how results of behavioural economics, motivational psychology, and ecological economics can enlighten the driving forces for economic growth in modern economies.