TORONTO - Capitalism has proven to be environmentally and socially unsustainable, so future prosperity will have to come from a new economic model, say some experts. What this new model would look like is the subject of intense debate.
One current theory states that continuous growth can be environmentally compatible if clean and efficient technologies are adopted, and if economies leave behind production of material goods and move towards services. This is known as sustainable prosperity.
International agreements to fight global problems, like the thinning of the atmosphere’s ozone layer and climate change, have used market principles to achieve compliance by the private sector.
But the problem is, “we are consuming 25 percent more than the Earth can give us each year,” says William Rees, of the School of Community and Regional Planning at the University of British Columbia.
Rees and other experts have calculated that annual human consumption of natural resources exceeds the planet’s ecological capacity to regenerate them by 25 percent, a proportion that has been growing since 1984, the first year they calculate that humanity crossed that capacity threshold.
more...
