There are still many illusions to overcome in the growth discussion. These illusions may be seen in the idea that long-term, significant growth could be achieved using government resources or that the solution to pressing financial and social problems necessitates higher growth. It is also an illusion, however, to say that giving up on growth is the alternative. In fact, it is about radical growth in environmental and resource-saving technologies. It is also about radical “de-growth” in products and processes that undermine long-term living and production conditions. Is the concept of "Green Growth" proposed by the OECD and other established institutions in Europe and Asia part of the growth illusion? This paper traces the transformation of the concept of "Green Growth" and evaluates the strategy that accompanies it in order to provide a more nuanced answer.