We Need a Sustainable Economy

To reach back out of this economic meltdown we have two divergent choices: Go back to the way things have always been, or fix the underlying problems so that we can live smart for generations to come. Guess which view I’d like to see us take?

The Obama Admnistration is about as pragmatic an organization as we ever could’ve hoped for. They’re trying hard to remain centrist and fair, without falling too hard into the pro-WallStreet or pro-MainStreet camps. They have pointed no fingers, but looked only for solutions. While this is all constructive and positive, I feel they have missed a gigantic opportunity to reform a failed system. It fails because it is not sustainable.

Observation from Jim Kunstler, a peak oil advocate:

Perhaps his ease and confidence masks a tragically conventional world-view, an incapacity to imagine “change” outside a very narrow range of possibility. I must say I doubt this is the case. I think, he is going along, for the moment, with a consensus of wishes to prop up life as we know it at all costs. This consensus emanates from the top down and the bottom up. The millions of “Joe-the-Plumber(s)” out there don’t want to rethink the terms of existence anymore than the lords of Goldman Sachs. I also think that circumstances will force Mr. Obama’s hand before long — specifically that a moment will arrive when he goes on TV and tells the American public that things have changed way beyond the scope of what they even imagined when they pulled the levers last fall and voted for an uncharted future.

We now are operating under a fractional reserve economy leveraged to the hilt in debt: personal debt, government debt, and a debt of jobs. Another form of debt? We’re running out of environmental capital with species extinction, peak oil, and loss of habitat.

Yikes. We need a sustainable economy. From the New Scientist:

Most of us accept the need for a more sustainable way to live, by reducing carbon emissions, developing renewable technology and increasing energy efficiency.

But are these efforts to save the planet doomed? A growing band of experts are looking at figures like these and arguing that personal carbon virtue and collective environmentalism are futile as long as our economic system is built on the assumption of growth. The science tells us that if we are serious about saving Earth, we must reshape our economy.

This, of course, is economic heresy. Growth to most economists is as essential as the air we breathe: it is, they claim, the only force capable of lifting the poor out of poverty, feeding the world’s growing population, meeting the costs of rising public spending and stimulating technological development – not to mention funding increasingly expensive lifestyles. They see no limits to that growth, ever.

While we want everything to be peaceful and pretty, sometimes deep change is just necessary. We want to keep eating our Cheetos, but there are almost 7 billion of us now. We have a big impact on our planet and need to start living as if it all matters. I am hoping that Obama has bigger plans for the future than he talks about now, even though I know there are many people who would not go willingly into a “sustainable” future.

Here are some resources for getting educated and imagining a new agenda:

Read the series of articles in the New Scientist on sustainable economy.

Watch the Story of Stuff and make sure to read this section on Another Way.

Check out BlindSpot.org for information on transformation from a linear economy to a circular economy.

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March 25, 2009 | Filed Under Great Recession, Sustainable Economy 

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