Icarus Economics: Why Rich Economies Are Struggling - and How to Fix Them
Feb 2026 · Atlantic Books
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'Excellent' Aaron Bastani
'Provocative ... An entertaining, sweeping read' Financial Times
Every leader comes to power promising growth: think back to the campaigns of Boris, Truss, Sunak, Starmer, Trump. Yet real-term income hasn't improved in the UK since 2008. Across the West, growth has stagnated for well over a decade, leading to cost of living crises, political instability and rising social tensions.
Is real economic growth still possible? And with the climate emergency accelerating beyond repair, should we still be pushing for it?
In Icarus Economics, acclaimed economist John Rapley argues that the problem of growth is inherently tied up with the climate crisis. We often assume that poor countries will bear the brunt of climate change, pandemics, and other exogenous shocks, but this book argues the opposite: western societies have more wealth and capital to lose and are less inherently resilient. In this book, he shows us how rich countries can grow their own economies by helping poor countries to decarbonise - and in the process, mitigate the effects of climate change.
'Provocative ... An entertaining, sweeping read' Financial Times
Every leader comes to power promising growth: think back to the campaigns of Boris, Truss, Sunak, Starmer, Trump. Yet real-term income hasn't improved in the UK since 2008. Across the West, growth has stagnated for well over a decade, leading to cost of living crises, political instability and rising social tensions.
Is real economic growth still possible? And with the climate emergency accelerating beyond repair, should we still be pushing for it?
In Icarus Economics, acclaimed economist John Rapley argues that the problem of growth is inherently tied up with the climate crisis. We often assume that poor countries will bear the brunt of climate change, pandemics, and other exogenous shocks, but this book argues the opposite: western societies have more wealth and capital to lose and are less inherently resilient. In this book, he shows us how rich countries can grow their own economies by helping poor countries to decarbonise - and in the process, mitigate the effects of climate change.
'Excellent' Aaron Bastani
'Provocative ... An entertaining, sweeping read' Financial Times
Every leader comes to power promising growth: think back to the campaigns of Boris, Truss, Sunak, Starmer, Trump. Yet real-term income hasn't improved in the UK since 2008. Across the West, growth has st...
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About the author
John Rapley is a Senior Fellow at the Johannesburg Institute of Advanced Studies. His books include Twilight of the Money Gods and Why Empires Fall (co-authored with Peter Heather).
John Rapley is a Senior Fellow at the Johannesburg Institute of Advanced Studies. His books include Twilight of the Money Gods and Why Empires Fall (co-authored with Peter Heather).
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