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BYM 2012

BYM 2012. Special Interest Group: An Economic System in Which our Testimonies can Flourish?. A Truly Sustainable Economy. No more net carbon production No net rendering of non-renewable resources unusable – 100% recycling

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BYM 2012

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  1. BYM 2012 Special Interest Group: An Economic System in Which our Testimonies can Flourish?

  2. A Truly Sustainable Economy No more net carbon production No net rendering of non-renewable resources unusable – 100% recycling Use of renewable resources only at a sustainable rate: water, nitrogen, fish, soil, etc. At some point this means no increase in use of any resources - zero growth or dynamic equilibrium

  3. Obstacles to such a System Vested Interests Short-term interest of existing politicians Self-interest of individual countries The banks TNCs Hedge Funds Elites Hydro-carbon industries Stock Exchanges Inertia Need for international consensus

  4. Business as Usual Scenario

  5. Business as Usual Scenario Degradation of environment Financial crises Pre-emption of resources by rich and by present generation to the detriment of future ones Unplanned cessation of growth as a result of physical and financial crises

  6. What can we do? In short term – possible actions (both for us as individuals or a community and for government) under the Coalition Conceivable changes while staying within current paradigm With major upheaval – complete paradigm shift

  7. 1. Short term Government should be urged to regulate the financial sector much more stringently To change taxation policy Use your power as consumers Greater self-reliance Be active in local area working with like-minded groups

  8. 2. Conceivable changes while staying within current paradigm Move to greater equality Put promotion of well-being at heart of decision-making Change the way decisions are made Ending the way taxes are avoided by rich and TNCs Use planning system to affect eg transport demand and implement long-term plan for energy sector Regulate interest rates charged borrowers Minimise externalities Conscious recognition of need for some areas not to be subject to market forces

  9. 3. Dynamic Equilibrium economy To achieve a truly sustainable economy, however, we need a complete shift in paradigm to One where the overall use of resources no longer increases, though Pattern of use of resources may vary

  10. Characteristics of DE economy Much greater equality (within and between countries) More democratic decision-making * Revenue = expenditure Imports = exports Real interest rates on lending = 0 Bulk of enterprises not-for-profit Net profit = 0 Increased productivity = shorter hours Resource rationing? Citizen wage? * note tension with individual desire for more

  11. What needs to happen? 0118

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