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Why Do We Need a Green Economy?

 

Why do we need a green economy?

1. Because the existing economy is premised on some serious flawed assumptions:

  • That humans have a right to exploit nature and extract what they need, writing off any losses to nature as ‘externalities’ that do not show up on the books.
  • That ‘wealth’ and ‘growth’ can be measured as GDP alone, whereas most people seek many kinds of wealth, and balance one against another in the decisions they make.
  • That every human makes decisions as if he or she was a unit of perfect selfishness, known ‘homo economicus’, whereas in reality our decisions are governed by a wide variety of thoughts, feelings, visions and goals.

2. Because leading players in the existing economy are seriously addicted to the extraction and burning of fossil fuels, the emissions from which are the primary cause of climate change.

3. Because the majority of people know that we need to develop green, renewable sources of energy instead of fossil fuels, and they want to see economic decision-making that supports green technologies, instead of further fossil fuel extraction.

4. Because a green economy will provide many new jobs that excite young people, who want to make a difference in the world.

5. Because a green economy will place a value on Nature through taxation, regulation and other means, and will seek to maximize natural capital, social capital and intellectual capital, as well as financial capital.

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