‘Economic crisis’ is conventionally understood as the absence of economic growth. However, far from being straightforward and self-explanatory, this understanding is itself an expression of a very particular ensemble of statistical techniques, economic theory, state practices and broader societal beliefs; it is not adequate for the historical analysis of what people have historically perceived as economic crises. This article aims at illustrating this divergence by analysing debates within the Organisation for Economic Cooperation and Development (OECD) on the so-called ‘problems of modern society’ from 1968 to 1974. These problems, which occurred at a time of comparatively robust economic performance, were perceived by contemporaries as a crisis closely related to the economic system. This debate led to a new impetus to recast the formerly dominant quantitative-growth paradigm in terms of environmental policies and qualitative growth. It was spearheaded by critical intellectuals within the OECD Secretariat and the OECD's Committee on Science and Technology Policy, who were at the same time launching the Club of Rome. In this article I will draw out the main arguments, actors, relevant contexts and effects of this discussion to highlight some of the characteristics of the intellectual uncertainty so distinctive of this period. The author argues that a historical understanding of this ‘crisis before the crisis’ demands a broader conception of economic crisis, one that is able to grapple with the divergence of economic growth, human welfare and environmental sustainability.
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Matthias Schmelzer (2012) studied this question.
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