[The following is an excerpt from the first chapter of Local is Our Future: Steps to an Economics of Happiness, a new book by Helena Norberg-Hodge, published by Local Futures in July 2019.]For our species to have a future, it must be local.The good news is that the path to such a future is already being forged. Away from the screens of the mainstream media, the crude ‘bigger is better’ narrative that has dominated economic thinking for centuries is being challenged by a much gentler, … [Read more...]
Economics 101 and Ecological Collapse
"The collapse of our civilisations and the extinction of much of the natural world is on the horizon." – David AttenboroughToday’s economics, especially Economics 101, is a major source of humankind’s denial of the possibility of the calamity of all calamities, which our economy is engineering. Annually, millions of students around the world are forced to study textbooks that indoctrinate them into thinking that there is no significant causal connection between our economy and the ecosphere. … [Read more...]
Growthism: its ecological, economic and ethical limits
We have many problems – poverty, unemployment, environmental destruction, climate change, financial instability, etc. – but only one solution for everything, namely economic growth. We believe that growth is the costless, win-win solution to all problems, or at least the necessary precondition for any solution. This is growthism. It now creates more problems than it solves.A journey of no return, not a circular economyThe economic process is not a mechanical analog that can be run … [Read more...]
How bad is global inequality, really?
Most everyone who’s interested in global inequality has come across the famous elephant graph, originally developed by Branko Milanovic and Christoph Lakner using World Bank data (see below). The graph charts the change in income that the world’s population have experienced over time, from the very poorest to the richest 1%.We can update the elephant graph using the latest data from the World Inequality Database, which covers the whole period from 1980 to 2016 using a method … [Read more...]
Why the “Anthropocene” is not “Climate Change”
“Anthropocene” is a widely proposed name for the geological epoch that covers human impact on our planet. But it is not synonymous with “climate change,” nor can it covered by “environmental problems.” Bigger and more shocking, the Anthropocene encapsulates the evidence that human pressures became so profound around the middle of the 20th century that we blew a planetary gasket. Hello, new Earth System. Hello, Anthropocene.The phrase “Earth System” refers to the entirety of our planet’s … [Read more...]
Groomed to Consume
With Christmas coming up, household consumption will soon hit its yearly peak in many countries. Despite homely pictures of tranquility on mass-produced greeting cards, Christmas is more about frenzied shopping and overspending than peace on earth or quality time with family and friends. As with so much of our lives, the holidays have been hijacked by the idea that satisfaction, even happiness, is only one more purchase away.Two generations ago, my Norwegian grandmother was overjoyed as a … [Read more...]
Degrowth: A Call for Radical Abundance
When orthodox economists first encounter the idea of degrowth, they often jump to the conclusion that the objective is to reduce GDP. And because they see GDP as equivalent to social wealth, this makes them very upset.Nothing could be further from the truth.I reject the fetishization of GDP as an objective in the existing economy, so it would make little sense for me to focus on GDP as the objective of a degrowth economy. Wanting to cut GDP is as senseless as wanting to grow it.The … [Read more...]
How Circular is the Circular Economy?
The circular economy has become, for many governments, institutions, companies, and environmental organizations, one of the main components of a plan to lower carbon emissions. In the circular economy, resources would be continually re-used, meaning that there would be no more mining activity or waste production. The stress is on recycling, made possible by designing products so that they can easily be taken apart.Attention is also paid to developing an “alternative consumer culture”. In the … [Read more...]
To Leave or Remain: Dichotomy or Distraction?
Ever since the Brexit referendum was first announced, we have been bombarded by an array of starkly contradictory pronouncements – from the Leave camp’s now infamous claim that withdrawal from the EU would release £350 million a week for the NHS to the former Chancellor George Osborne’s assertion that Brexit would leave the UK “permanently poorer”. At first glance, the two sides seem to have almost nothing in common; these are polar opposites. Dig beneath the surface, however, and a fundamental … [Read more...]
Why Growth Can’t be Green
Warnings about ecological breakdown have become ubiquitous. Over the past few years, major newspapers, including the Guardian and the New York Times, have carried alarming stories on soil depletion, deforestation, and the collapse of fish stocks and insect populations. These crises are being driven by global economic growth, and its accompanying consumption, which is destroying the Earth’s biosphere and blowing past key planetary boundaries that scientists say must be respected to avoid … [Read more...]