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Economics for a Finite PlanetTim Jackson10th November 2009
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• Growth is unsustainable • De-growth is unstable
The Dilemma of Growth
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Limits to Decoupling
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Limits to DecouplingSource: Prosperity without growth, Tim Jackson (London, Earthscan 2009)
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Limits to DecouplingSource: Prosperity without growth, Tim Jackson (London, Earthscan 2009)
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Limits to DecouplingSource: Prosperity without growth, Tim Jackson (London, Earthscan 2009)
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Households
Firms
IncomeInvestment Novelty
Price
Consumerexpenditure
Increasingproductivity
The Engine of Growth• capital mobility• creative destruction
• status consumption • a life without shame
Credit
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Ecological Macroeconomics
Investment• ecological investment
– investment targets– investment ecology – role of public sector
Labour• productivity revisited
‒ sharing work‒ creating jobs‒ productivity spectrum
Ecological limits
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Ecological Macroeconomics
ConsumptivityΔ(CO2/$)
Productivity Δ($/job)
High-end jobs
Financialservices
TechnologyManufact
-uringServices
Socialenterprise
Unpaid labour
Leisure
High-end jobs
Financialservices
Clean TechResource Manage-
mentGreen services
Socialenterprise
Volunt-eering
Eco-leisure
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Ecological Entreprise
• Low-carbon, resource efficient economic activities that provide employment, support communities and contribute to human flourishing
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Flourishing – within limits
• beyond consumerism• an ‘alternative’ prosperity • the importance of participation• building capabilities• investment in public goods
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‘… sites for the cultivation of a common citizenship, so that people from different walks of life encounter one another and so acquire enough of a.. sense of a shared life that we can meaningfully think of one another as citizens in a common venture’
Michael Sandel, June 2009
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Ecologicalenterprise
People
Ecosystems
Ecological investment Ecosystem
services
Participation Capabilities
Increasing resource productivity
improvedflourishing
Economics for a finite planet
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Establish the Limits 1. Establishing clearly defined resource/emissions caps 2. Fiscal Reform for Sustainability 3. Promoting Technology Transfer and Ecosystem Protection
Fix the Economics4. Developing the macro-economics of sustainability 5. Investing in public assets and infrastructures 6. Increasing financial and fiscal prudence 7. Improving macro-economic accounting
Change the social logic8. Sharing the work and improving the work-life balance 9. Tackling systemic inequality 10 Measuring capabilities and flourishing 11 Strengthening human and social capital 12 Reversing the culture of consumerism
Ecological Footsteps
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Ecological Footsteps
Establish the limitsFix the economics
Change the social logic
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http://www.earthscan.co.uk/pwg
‘The crisis doesn’t only make us free to imagine other models, another future, another world. It obliges us to do so.’
President Sarkozy, September 2009