Adapting to the Impacts
Posted on : November 17, 2009
There is a parallel between the present economic crisis and the ecological crisis we are facing. In both cases, we have been living on credit. On both fronts, time has come to pay for the debt.
The negation of environmental costs and our failure to price natural resources into the economy have brought about the climate crisis. The financial collapse represents the same case of overlooking 'negative externalities' in financial reporting, balance sheet and risk assessment. In both cases, we have tried to privatize profits and socialize losses.
After this crisis, society should see the emergence of a new economy, which is less demanding on resources, more frugal, and less brutal with natu... >>
The negation of environmental costs and our failure to price natural resources into the economy have brought about the climate crisis. The financial collapse represents the same case of overlooking 'negative externalities' in financial reporting, balance sheet and risk assessment. In both cases, we have tried to privatize profits and socialize losses.
After this crisis, society should see the emergence of a new economy, which is less demanding on resources, more frugal, and less brutal with natu... >>
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