We could and should transition to renewable resources, but that will require a reduction in the scale of the human economy to a smaller level that could be maintained more or less in a steady state.
The current economic system is at the heart of the climate breakdown, argues Herman Daly, a leading expert in the field of ecological economics who for many decades has been at the forefront of the struggle to redirect economics toward environmental sustainability.
In spite of all the evidence about the catastrophic effects of burning fossil fuels on the climate, the world systematically continues to emit carbon emissions into the atmosphere. Why is it so hard to come up with a reasonable policy that limits significantly the use of fossil fuels? Renewable resources become nonrenewable if exploited beyond sustainable yield. Growthist values would have to be replaced by an ethic of sufficiency, sharing and qualitative development rather than quantitative growth. The fossil fuel industry strenuously resists this change in an effort to hold on to their enormous resource rents and monopoly profits.
Growth was economic when the world was empty of us and our stuff. Now it is full, and further growth of our economy into the finite biosphere causes increasing marginal costs of preempted life support services in order to satisfy decreasing marginal benefits of trivial consumption that has to be aggressively advertised to be sold.
Set caps for basic natural resources according to three key rules: renewable resources should not be depleted faster than they regenerate; nonrenewable resources should not be depleted faster than renewable substitutes are developed; and wastes from all resource use should not be returned to the ecosystem faster than they can be absorbed and reconstituted by natural systems.
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