What does he mean? He points to the massive, irreversible changes that the earth has already experienced – melting ice caps, rising oceans, hotter climate. He elaborates:
The most visible change is what’s happening to ice around the world. But probably the most important is what’s happening to liquid water. Warm air holds a lot more water vapor than cold, so you get a lot more evaporation in dry areas, and hence more drought. Even easier to measure, and more troubling, is the fact that what goes up must come down, and what’s coming down are these intense precipitation events.
But what does this mean for the broader economy? Is economic growth an unsustainable paradigm?
Economists, and many of us to some extent, have come to believe that the economy is more real than the physical world. Think about the incredible regard we have for the economy. “It’s healing,” we say. “It’s going through a rough patch.” We talk about it like it’s our aging mother. Whereas with the Earth, we say, “Oh well, it’s going through its natural cycles, don’t worry.” Which is slightly crazy, because clearly the economy is a subset of the natural world, not the other way around.
It’s time to re-think what we want from the world and our economy. What does a sustainable no-growth economy look like? Can we maintain our lifestyles while avoiding limits imposed by the physical world?
Learn more: here
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Zanie
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Plan B Economics

