Is there an elephant in the room?

I want to take this opportunity to talk about the predominant global economic system that most Marlborough people take for granted. Does it have a future?

I am interested in mathematics. If something grows at 3% a year, it doubles in 24 years. If the growth slips to 2%, it will double in 36 years.

Our economic system has, as a primary goal, the growth of Gross Domestic Product (GDP). What does it mean to have an economic system that needs to grow perpetually to function? It means the throughput of materials and energy needs to double approximately every 24 to 36 years to achieve 2 to 3% growth. This is at the same time as we are depleting many global resources. Perpetual growth is physically impossible within a finite enclosed system, which is what our planet is.

Basic maths tells us this will end badly. We have to start looking seriously for other ways of operating our civilisation before it’s too late.

There are a range of ways of assessing what humanity’s impact on the biosphere, atmosphere and hydrosphere is, but there is general agreement that currently, we are using about 1.8 times more than the planet can regenerate. This is known as overshoot, which we have been in since the 1970s.

Some people think we are so smart that our technology will solve these existential problems. I disagree. Our whole system is designed to encourage us to consume more and more. We are stealing the future from our grandchildren.

There are those who will tell you that resource use can be uncoupled from economic growth. Evidence proves otherwise. The increase in material use tracks more or less exactly with the rise of global GDP other than for occasional short periods.

The economy cannot be understood in terms of money alone and money cannot enable us to enjoy infinite economic growth on a finite planet.

The real economy consists of the actual physical resources and energy provided by our mother, planet Earth. We ignore this reality at our peril!

Are we willing to accept that people in the developed world have to consume much less so that others can simply have the basics needs of life? Then we all may survive.

If you agree with me that those of us in the developed world are using more than our fair share of planetary resources then you can choose to make changes to your lifestyle to reduce your consumption and hence your contribution to global emissions.

The 4 Rs are a very simple formula to apply to your life, and it is important to note that recycling is the last option – before recycling comes Refuse, Reduce, Reuse then Recycle.

Please take a minute to think about what this could actually mean in your daily life. Don’t get sucked in by the incessant pleas to consume more. Our landfills are already full of things we often don’t need and the planet can’t keep supplying the resources to feed our excessive wants forever.

LDR Climate Karanga Marlborough member Budyong Hill says perpetual growth is unsustainable, which means our economic system is unsustainable too.