Pest Control, Puke and the Monster of Growth
This article was first published by Shifting Grounds on 18th January 2013. When I was nineteen I did some work experience in the economics and strategy office of a City investment bank. Though my four months there confirmed that investment banking was not for me, the office was an interesting place to be, with real characters possessing real brains which they enjoyed pitting against each other and the world outside. A nugget of wisdom from one of these characters, a quiet and unassuming man called Leo Doyle, has stuck with me ever since. It was about Rentokil, the pest control company. Leo explained Rentokil’s role in the economy as being to eradicate something, to clear up a mess that needed getting rid of. This activity earned money by meeting a social need, but it did so by removing something bad and not by creating something new and useful. If I recall correctly, Leo held up Rentokil as an exemplar of the British economy, which he saw as devoting a large propo...