Far from this being a time for the environment to take a back seat as some EU countries have suggested recently, the worst financial crisis since the great depression is not only the best catalyst to create a new system of low- carbon growth but environmental prioritisation may be the only way we can fortify our economy in the long-term.
The British government has already resurrected the Keynesian model and now all it needs to do, as it has done in creating Ed Milibandâ€™s new department, is wisely direct spending towards ushering in an economy that will ensure environmental security, and in this way reduce the chances of a future recession. It might be an unregulated free-market system that has failed us in the short-term, but it is unsustainable capitalism that will fail us in the long-term, especially when economies threaten to collapse on the frail or non-existent foundations we have built them on. In reality, we have a heavy debt to the earth that weâ€™ll never be able to repay. The least we can do is stop borrowing.
We are yet to see the full extent of the knock-on effects of this crisis, but at least weâ€™ve learnt that we donâ€™t have to stupidly spend our hard earned salaries on things we donâ€™t need. Many new opportunities and sectors can be created on the relics of old, redundant ones; we can have all the innovation, growth and prosperity one could desire while stopping runaway climate change at the same time: and who said you couldnâ€™t keep your bonus? For things to get better, much better, it seems they have to have gotten this much worse first. Maybe we needed this kick up the backside.
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Filed in: Economics,Environmentalism