The notion of economic growth as a regular, ongoing, self-sustained process no longer holds up to critical analysis. Even during what’s been called “The Glorious Thirty” – the years between the end of World War II and the 1974 oil crisis – growth occurred almost solely in industrialized countries and involved a minority of the world population; it was built on the senseless waste and pillaging of limited natural resources, access to cheap fossil fuels, dependency on killer technologies and the … [Read more...]
Life in a ‘degrowth’ economy, and why you might actually enjoy it
What does genuine economic progress look like? The orthodox answer is that a bigger economy is always better, but this idea is increasingly strained by the knowledge that, on a finite planet, the economy can’t grow for ever.But what is a steady-state economy? Why it is it desirable or necessary? And what would it be like to live in? The global predicament We used to live on a planet that was relatively empty of humans; today it is full to overflowing, with more people consuming more … [Read more...]
Will the Poor Always Be With Us?
It’s a familiar story. On his final journey toward Jerusalem, Jesus stops in Bethany to eat at the home of Simon, a leper. A woman enters with an alabaster jar of expensive ointment; she breaks the jar and pours the ointment on his head. Her gesture invokes the fury of some of those present. The ointment was worth a year’s wage, they grumble. It could have been sold, and the money given to the poor.“The poor will always be with you” was Jesus’ righteous and innocent enough reply. Jesus … [Read more...]
The Great Deceleration
In 2015, a major study of 24 indicators of human activity and environmental decline titled ‘The Great Acceleration’ concluded that, “The last 60 years have without doubt seen the most profound transformation of the human relationship with the natural world in the history of humankind”.[1] We have all seen aspects of these trends, but to look at the study’s 24 graphs together is to apprehend, at a glance, the totality of the monstrous scale and speed of modern economic activity. According to lead … [Read more...]
Adivasi Economics and Re-awakening the Indigenous Mind
When the East India Company set up in India, the commodities they originally traded included hundreds of unique artifacts made in India, including textiles whose quality has never been surpassed. As the EIC set up a subsidiary called the Government of India for collecting revenue to send back to London, the aim gradually shifted to getting raw materials from India, including cotton, silk, indigo, jute, opium and tea, and of course financial revenue, while undermining indigenous industry so that … [Read more...]
Globalization and the American Dream
“... America is a new kind of society that produces a new kind of human being. That human being – confident, self-reliant, tolerant, generous, future-oriented – is a vast improvement over the wretched, servile, fatalistic and intolerant human being that traditional societies have always produced.” — Dinesh D’Souza, What’s So Great About America Implicit in all the rhetoric promoting globalization is the premise that the rest of the world can and should be brought up to the standard of living … [Read more...]
The Paris Climate Talks: A Nepali View
Before the COP21 meetings in Paris, I had never attended an international negotiation of any kind. Perhaps as a result, I participated in the event without preconceptions. Based on my experiences at the talks, I brought back to Nepal new and sometimes alarming understandings that will guide me in my continued activism for justice and climate change.What I found most disturbing in Paris was the widespread expectation of – and reliance on – foreign donations for climate change adaptation. … [Read more...]
Globalization and Terror
For people in the modern world, there may be nothing more difficult to comprehend than the group calling itself the Islamic State, or ISIS. The beheadings, rapes, and other acts of cruelty seem beyond understanding, as does the wanton destruction of priceless ancient monuments. Perhaps most mystifying of all is the way ISIS has been able to recruit young men — and even some young women — from the industralized West, particularly Europe: the conventional wisdom is that the cure for ethnic and … [Read more...]
Small Loans, Big Problems: The False Promise of Microfinance
Ever since Bill Clinton and the World Bank enthusiastically embraced the microfinance concept in the 1990s, we at Local Futures have been skeptical of its benefits, seeing it as part of a whole package of “market solutions” to our social and environmental crises that, in the long run, make things much worse. We have pointed out that these loans often target rural populations who were not previously in debt: they represent the long arm of capitalism reaching into remote rural areas, encouraging a … [Read more...]
The Global Economy’s “Impeccable Logic”
By Steven GorelickEver since the Occupy movement coined the terms “the 1%” and “the 99%” to point out disparities of wealth and power, the gap between rich and poor has received a lot of attention. In his highly-regarded 2014 book, Capital in the Twenty-first Century, for example, Thomas Piketty’s central thesis is that wealth inequality is bound to increase in modern capitalist economies. This was underscored by a recent Oxfam report, which tells us that the world’s 85 richest people now … [Read more...]