Tuesday, May 8, 2012

Suicide Economics

Suicide economics gets it wrong on nearly every major issue because it is built on a foundation of fallacies.  It ignores natural limits, confuses means and ends, uses the wrong measure of value and the wrong unit of analysis, and it relies on a single improperly defined criterion function. David Korten
For most of the last century, economic growth was fuelled by what seemed to be a certain truth: the abundance of natural resources. We mined our way to growth. We burned our way to prosperity. We believed in consumption without consequences. Those days are gone.

In the 21st century, supplies are running short and the global thermostat is running high. Climate change is also showing us that the old model is more than obsolete. It has rendered it extremely dangerous. Over time, that model is a recipe for national disaster. It is a global suicide pact.

So what do we do in this current challenging situation? How do we create growth in a resource-constrained environment? How do we lift people out of poverty while protecting the planet and ecosystems that support economic growth? How do we regain the balance? All of this requires rethinking. - The secretary general of the UN

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