“Greed is good”, claimed my first year macro-economics lecturer. Every dollar spent on anything from motor cars to manicures multiplies through the economy resulting in improved quality of life for everyone. Sounds great, but is it sustainable?
The new economics foundation, an independent “think and do” tank in the UK, recently released a report, China-dependence, stating..
"From today, Saturday 6 October, the world as a whole goes into ecological debt driven by over-consumption. 'Ecological debt day' is the date when, in effect, humanity uses-up the resources the earth has available for the year, and begins eating into its stock of natural resources. World ecological debt day has crept ever earlier in the year since humanity first began living beyond its environmental means in the 1980's.
The latest available data reveals that the overuse of the earth's resources is much more extreme in rich countries. For example, if everyone in the world wanted to live like people in the UK, on a very conservative estimate, we would need more than three planets like Earth. "
The report highlights that China is a target for conservationists because it is building a coal-fired power station every five days to feed its booming export-led economy. "However, if we all consumed like China, it would take only 0.9 of a planet."
In particular, international trade is becoming increasingly wasteful.
"As the world creeps closer to irreversible global warming and goes deeper into ecological debt, why on earth, say, would the UK export 20 tonnes of mineral water to Australia and then re-import 21 tonnes," said NEF director Andrew Simms.
Other examples in the report included:
· The UK imported 14,000 tonnes of chocolate covered waffles, and exported 15,000 tonnes.
· It imported from and exported to Italy, 600 tonnes of, 'gums and other jelly confectionery'.
· The large, two-way traffic of beer between Spain and the UK is also almost identical in amount.
"And why would that wasteful trade be more the rule than the exception?"
Maybe we really do think that greed is ok.
A quick survey of my breakfast table found milk from Thailand (sometimes it's Uruguay), honey from Vietnam, Weetbix and soy milk from Australia, corn flakes from France, oats from China, and (hooray) rice from Cambodia.
Looks like there is a lot of room for improvement.
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2 comments:
Hi Lisa-
This post got me thinking! Thanks... want to write more but decided that this comment would go on far too long so will blog my response instead. Shalom : )
Hey Pip. I agree. Raises a lot of questions if it is accurate. What are alternative do they propose? Is it possible to achieve? What does this mean for development goals? Do I have to walk everywhere, wear holey underwear and eat rice and veges forever??? Check out their web-site www.neweconomics.org Look forward to reading your blog. Lisa
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