Incoherent System
May 31st, 2007Professor Peter Brown from McGill University in Canada is here in New Zealand speaking about our dysfunctional economic system.
He’s not wrong there. He was speaking on Radio NZ but the interview never really got going. He had enough time to talk about the incoherent nature of our economic system, how GDP measures income and consumption but not well being and how triple bottom line accounting was a waste of time. Agreed!
What we need is a better connection between our biophysical system and our economic frameworks like Trucost for example.
We also need to ask ourselves some basic questions such as
- what is our economy for? speculation or sustenance.
- what size should it be? as big as possible or big enough.
Simple questions but rarely asked. The mantra of economic growth at all costs is intellectually flimsy. Its lazy thinking……..the assumption that GDP growth is all that matters is quite clearly false.
What about crime, illness, pollution? What about the increasing gap between rich and poor.
As individuals we search for coherence but as a global economy we struggle to find that because there are no tools to do so. So perhaps by becoming more coherent ourselves we will aid and enable a global coherence.
As the Mahatma said “Be the change you wish to seeâ€.
Let’s keep asking questions of our system.
Tags: climate change, coherence, debt, economics, environment, future, GDP, GPI, new zealand, policy ideas, political institutions, politics, poverty, systems