The real risk is that the economy could fail this winter
Like so much of life, the economy is very fragile. It can seem almightily powerful to most of us, most of the time. But that is not really the case.
Like so much of life, the economy is very fragile. It can seem almightily powerful to most of us, most of the time. But that is not really the case.
Keen discusses how mainstream economics misses the centrality of energy to our economy and to our futures, the naive treatment to the risks of money and debt creation, and the disconnect economic theory has to climate change risks.
This 15th edition of documenta (“documenta 15”) confirms that commoning is surging as a way to re-imagine the political economy of art-making.
My new book, ‘The Blue Commons’, argues that the only way to stop – and reverse – the destruction and depletion of marine resources and ecosystems is to revive the ethos of the sea as a commons, managed for the benefit of all by those whose lives and livelihoods depend on it.
July 28 was EARTH OVERSHOOT DAY. On July 29 we went into ecological deficit. Humans have used the entire annual budget of resources that can replenished by nature.
My vision is to shift that balance and gain back power by saying: “I am who I am, this is what I know how to do. This is my knowledge from my tradition, and I’m going to own it and free myself from this global market.”
Ecological Economics is the informed management of resources and socio-environmental interactions to satisfy objective needs and subjective desires in a process that does not destroy the basis of their provision.
The degrowth movement has both the potential and a mandate to go beyond a distributional and ecological critique of GDP growth, and to include a broader reflection on what constitutes an existentially meaningful mode of being interdependent with the planet.
Left to its own volition, the financial sector will continue to be complicit in environmental degradation unless stringent mechanisms are put in place to ensure that it complies with net-zero obligations and divests from fossil fuels.
From all that has been seen, it can be affirmed that the future of the planet will be local, or it will not be.
Away from the screens of the mainstream media, the crude ‘bigger is better’ narrative that has dominated economic thinking for centuries is being challenged.
So I suspect that soon the lure of fulfillment will eclipse profitability — particularly because we all can meet our own needs, while only a few of us have ever profited from this disaster.