CRISIS
ECONOMIC GROWTH AND CLIMATE CHANGE
Gianluca Dragone @GianlucaDragone Continuous economic growth is viewed by politicians as a beneficial and unquestionable aspect of our economy, yet this growth is leading us on a path of environmental destruction that exposes the links between capitalism and the climate crisis.
The world is being taken on a path of environmental jeopardy, with the impending crisis of climate change becoming more visible every day. Fundamentally, we understand why climate change is happening; greenhouse gases in the atmosphere trapping excess heat and ignorant politicians denying well-established science. Yet, there’s little consideration of the processes that allowed climate change to occur in the first place and it’s often portrayed as though it was inevitable. Economic growth is one of these processes, and understanding how it relates to climate change is integral to creating effective climate action.
with growth isn’t completely irrationational however; growth is necessary for nations to fund new infrastructure, provide public programs like universal healthcare, and keep the economy from falling into a recession. Stable growth is so integral to Australia’s economy that during the 2008 Global Financial Crisis, the government spent $42 billion on stimulating the economy which was at risk of recession. Why then might this fundamental feature of economies around the globe be setting us on a path of destruction? Because despite the supposed benefits of an economy that can seemingly produce more every year, there is often little consideration of what is fuelling the economic machinery that produces growth.
Economic growth describes increases in the amount of goods and services a nation produces, as well as the size of a nation’s economic output. It is treated as sacrosanct by the world’s major political parties, and it is what has driven political decision making since the dawn of the industrialised, global economy. In contemporary climate action plans there lies an implicit consideration that growth will continue as normal. Whether it is renewable energy subsidies, investment in ‘green’ companies, or financial marketplaces to trade carbon, growth can’t be hindered. This obsession
If our economies are to produce more then they must consume more, and with every year of growth our planet’s resources grow closer to depletion. On a world with finite resources, continuous growth can be nothing more than an impossibility. Our clean air, water, minerals, biodiversity, and stable climate are being treated as though they are a neverending pool to draw from. The reality of economic growth is that it requires constant transformation of the natural world into marketable products that generate profit. Even ‘socially conscious’ or ‘green’
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@lucaphotographs
