We Need A New Economic System To Save Ourselves

We have become so self-indulgent that we cannot see our planet is choking and suffering internally; its ecosystem is collapsing but the governments are more keen to secure their economic interest instead of restoring the interest of our environment.

“(T)he economic models which inform political decision-making in rich countries almost completely disregard the energetic and material dimensions of the economy,” Researchers wrote in Global Sustainable Development Report 2019, a background documentary for United Nations’ Draft considering the fact. “Economies have used up the capacity of planetary ecosystems to handle the waste generated by energy and material use.”

It’s the boundary and we cannot make economic growth on this planet anymore. It is now a warning sign that the economic systems are creating a broader gap between the poor and the rich and utilizing this planet as a dump yard isn’t feasible anymore.

Dan O’Neil, an Ecological Economist said “If all seven billion or more people are to live well within the limits of our planet, then radical changes are required. At the very least, these include dramatically reducing income inequality and switching from fossil fuels to renewable energy as quickly as possible. But, most importantly, wealthy nations such as the US and UK must move beyond the pursuit of economic growth, which is no longer improving people’s lives in these countries, but is pushing humanity ever closer towards environmental disaster.”

At this point, our scientists suggest two choices, whether we should make radical yet controlled changes or just let everything continue the way it has been happening and wait for the ultimate fate.

The author of This Changes Everything: Capitalism Vs the Climate, Naomi Klein said: “We humans are capable of organizing ourselves into all kinds of different social orders, including societies with much longer time horizons and far more respect for natural life-support systems. Humans have lived that way for the vast majority of our history and many Indigenous cultures keep Earth-centered cosmologies alive to this day. Capitalism is a tiny blip in the collective story of our species.

She’s not saying to go for a tech-free society but suggesting unique and better ways to live and take it ahead even with the advanced technologies. Scientists are also searching for a pinch-hit to set up our economic systems.

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