Viw Magazine

Men's Weekly

.

  • Written by Samuel Alexander, Research fellow, Melbourne Sustainable Society Institute, University of Melbourne
RAJAT GUPTA/EPA

This article is the first in a three-part series on radical ideas to solve the environmental crisis.


As the Productivity Commission confirmed this week, Australia’s economy has enjoyed uninterrupted growth for 28 years straight. Specifically, our output of goods and services last financial year grew by 2%. Economists obviously see the growth of a national economy as good news – but what is it doing to the Earth?

Capitalism demands limitless economic growth, yet research shows that trajectory is incompatible with a finite planet.

If capitalism is still the dominant economic system in 2050, current trends suggest our planetary ecosystems will be, at best, on the brink of collapse. Bushfires will become more monstrous and wildlife will continue to be annihilated.


Read more: 222 scientists say cascading crises are the biggest threat to the well-being of future generations


As my research has sought to demonstrate, an adequate response to climate change, and the broader environmental crisis, will require creating a post-capitalist society which operates within Earth’s ecological limits.

This won’t will be easy – it will be the hardest thing our species has tried to do. I’m not saying capitalism hasn’t produced benefits for society (although those benefits are distributed very unequally within and between nations).

And of course, some people will think even talking about the prospect is naive, or ludicrous. But it’s time to have the conversation.

What is growth?

Economic growth generally refers to gross domestic product (GDP) – the monetary value of goods and services produced in an economy. Historically, and across the globe, GDP and environmental impact has been closely linked.

Capitalism needs growth. Businesses must pursue profits to stay viable and governments want growth because a larger tax base means more capacity for funding public services. And if any government tried to slow or stop growth for environmental reasons, powerful economic forces under capitalism would offer fierce resistance – with some businesses perhaps threatening to leave the nation altogether.

What about ‘green growth’?

Most mainstream economists and politicians accept the science on the dire state of the planet, but not many people think capitalism is the problem. Instead, the dominant response to the ecological crisis is to call for ‘green growth’.

This theory involves producing ever more goods and services, but with fewer resources and impacts. So a business might design its products to have less environmental impact, or a product at the end of its life could be reused – sometimes called a ‘circular economy’.

If our entire economy produced and consumed goods and services like this, we mightn’t need to abandon the growth economics inherent to capitalism. Instead, we would just “decouple” economic growth from environmental impact.

Too good to be true

There are several big problems with green growth theory. First, it isn’t happening at the global scale – and where it is happening to a limited extent within nations, the change is not fast or deep enough to head off dangerous climate change.

Second, the extent of “decoupling” required is simply too great. Ecological footprint accounting shows we need 1.75 planets to support existing economic activity into the future – yet every nation seeks more growth and ever-rising material living standards.


Read more: No food, no fuel, no phones: bushfires showed we're only ever one step from system collapse


Trying to reform capitalism – with a carbon tax here and some redistribution there – might go some way to reducing environmental harm and advancing social justice.

But the faith in the god of growth brings all this undone. The United Nations’ development agenda assumes “sustained economic growth” is the best way to alleviate global poverty – a noble and necessary goal. But our affluent living standards simply cannot be globalised while remaining within safe planetary limits. We need degrowth, which means planned contraction of energy and resource demands.

Taking a fair share

Let’s do the maths. If all humans lived like Australians, we’d need more than four planets to sustain us. Earth’s population is set to reach 9.7 billion by 2050. Our current levels of consumption do not add up.

Something resembling a fair share could involve developed nations reducing energy and resource demands by 50% or even 75% or more. This would mean transcending consumer lifestyles, embracing far more modest but sufficient material living standards, and creating new post-capitalist modes of production and distribution that aimed to meet the basic needs of all – not for limitless growth.


Read more: To address the ecological crisis, Aboriginal peoples must be restored as custodians of Country


The “downshift” in material consumption can begin at the individual level where possible. But more broadly we must create local and sharing economies that don’t depend on globalised, fossil-fuelled distribution chains.

A range of social movements will be needed to persuade politicians to adopt systemic change.

Last year’s global student strikes and Extinction Rebellion protests were a good start. Over time, they could create widespread public momentum for an alternative, post-growth economy.

Ultimately, structural and policy inventions will be needed. This includes changes to land governance to make sustainable living easier. And we need to start having difficult but compassionate conversations about population growth.

Transcending capitalism

I’m certainly not suggesting we adopt a centralised, Soviet-style state socialism. After all, a socialist economy seeking growth without limit is just as unsustainable as growth capitalism. We must expand our imaginations and explore alternatives.

I don’t have all the answers – and I think post-capitalist movements, now and in the future, will probably fail. But if we do not recognise capitalism’s inherent growth fetish as the central problem, we cannot formulate a coherent response.

Samuel Alexander does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Authors: Samuel Alexander, Research fellow, Melbourne Sustainable Society Institute, University of Melbourne

Read more https://theconversation.com/ive-seriously-tried-to-believe-capitalism-and-the-planet-can-coexist-but-ive-lost-faith-131288

VR Training in Australia – Conflict Resolution Training For Employees

In today’s rapidly evolving workplaces, Australian organisations are turning to immersive learning tools like VR to handle specialised n...

Financial Planning For Couples

Why Every Couple Should Talk About Money And A Will (Before It’s Too Late) When you’re in a new, exciting relationship, it’s easy t...

Navigating Relationships While Living with Depression

Living with depression can feel like carrying an invisible weight—one that not only affects how you experience the world but also how yo...

Choosing the Right Vinyl Flooring Suppliers for Your Home or Business

When it comes to selecting flooring options that combine durability, style, and affordability, vinyl flooring stands out as a top choice. ...

Why Food Manufacturing Cleaning Services Are Essential for Safety and Quality

The complexity of food production environments demands specialised cleaning approaches that go beyond regular janitorial work. This is whe...

The Importance of Choosing the Right Industrial Electrician Melbourne for Your Business

When it comes to powering large-scale operations and complex machinery, commercial electrical services are not enough. Industrial environm...

What to Expect During a Property Settlement After Separation

Separation is a challenging and emotional time, and one of the most complex aspects can be the division of property. However, understandin...

Designing the Ideal Healthcare Environment with a Professional Medical Centre Fitout

When it comes to healthcare spaces, functionality, hygiene, and patient comfort take top priority. An intelligently designed medical centr...

Stay Comfortable Year-Round with Ducted Cooling Melbourne

When the temperature starts to rise, having a reliable and efficient cooling system becomes a priority. With unpredictable weather and sud...

Best Practices for Content Ownership and Tagging Across Departments

Image by kaboompics on Freepik The bigger and more complex content ecosystems grow, the more valuable ownership and tagging become. In ent...

Understanding Public Liability Insurance Australia: What You Need to Know

Image by rawpixel.com on Freepik The necessity of public liability insurance in Australia is that it acts as a financial safeguard for busi...

How HID Proximity Cards Improve Workplace Security Without Slowing Down Access

In today’s workplaces, security is non-negotiable, but so is speed. Companies are under pressure to protect their people, property, and ...

Unlock Business Insights Faster with Power BI Tools

In this digital age where data drives the consumer landscape, businesses are shipping huge amounts of data every day. To remain competit...

Why Split System Installation Is a Smart Choice for Home Climate Control

Temperature control is essential for comfort, and when it comes to efficient, versatile cooling and heating, a split system is one of the ...

What You Need to Know About SMSF Setup in Australia

Setting up a self-managed super fund (SMSF) is becoming an increasingly popular choice for Australians who want more control over their re...

The Ultimate Guide to Door Replacement: Everything You Need to Know

Image by freepik Sure, swapping out a door is a fairly easy task, but it requires careful consideration of options for materials, designs...

Common Web Development Issues Perth Businesses Face (and How Agencies Fix Them)

Image by freepik Let's be honest, in the bustling heart of Perth's business scene, a website that's not up to scratch is like trying to he...

Life With Clear Aligners: 10 Small Changes That Make a Big Difference

Image by tonodiaz on Freepik Clear aligners have transformed orthodontics, offering a nearly invisible way to straighten teeth without the...

Choosing the Right Hair Loss Treatment for Your Needs

Millions of people experience hair loss globally, and it can be a major cause of emotional discomfort and self-consciousness. Hair loss ca...

Cardboard Display Boxes: An Effective Solution for Retail Presentation

In the competitive world of retail, how products are presented can be just as important as the products themselves. Cardboard display boxe...