Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

General Congreve

Is The Financial Crisis A Manifestation Modern Economic Unsustainability?

Recommended Posts

There is no doubt that the current financial crisis and subsequent depression has been brought on by lax bank lending, through a combination of poor government regulation and the desires of greedy bankers for short term gain.

However, I feel the financial crisis has only accelerated the break down of the world's economies, having exposed early an underlying weakness in the way we live our modern lives that would have ultimately been apparent anyway.

This weakness is the goal of economic growth being the foundation for a great society above all else. It is plain to see what unbridled economic growth does for a country, just look at the state of America, half of them too fat to walk anywhere, falling life expectancy from obesity, planet destroying consumption of resources etc.

It is obvious to everyone that the world, especially the West, need to moderate their lifestyles for a more sustainable future. We cannot keep building and consuming the way we are, or we will really destroy the world and make it a place not worth living in. In this respect, an economic crash, that sheds valueless jobs and cuts consumption is a good thing for the world, although a bad thing for those at the sharp end with no job or means of support.

It would seem the only way to reconcile this paradoxical problem is for a complete shift away from how we currently live into a more sustainable way of living where greed isn't good. But can this be done?

BTW, I'm a hypocrite, I frequently fly, own all manner of electronic goods and own two (old) cars all of which I thoroughly enjoy. Therefore the only way I can see to ultimately save the planet by halting and even reversing modern economic growth is for some powerful leader, or leaders, around the world to go Pol Pot on everyone's @rse and send them back out to work in the fields for nothing but a lump of bread a day (if they're lucky).

Anyone got any other cleverer and more humane suggestions? Remember, people are hypocrites, you can't expect them to voluntarily give up privileges that they enjoy even though they know they are wrong. So how would you suggest tackling the problem?

Share this post


Link to post
Share on other sites
Anyone got any other cleverer and more humane suggestions?

Maybe you need to trust that nature (and market realities) will curtail our consumption if no individual person steps up. No doubt some would see that as amoral, others would see conspiracies/vested interests etc at work.

It doesn't really matter who's right- the act of curtailing consumption would be unpleasant or catastrophic, but its probably unavoidable (as you say).

Share this post


Link to post
Share on other sites
Maybe you need to trust that nature (and market realities) will curtail our consumption if no individual person steps up. No doubt some would see that as amoral, others would see conspiracies/vested interests etc at work.

It doesn't really matter who's right- the act of curtailing consumption would be unpleasant or catastrophic, but its probably unavoidable (as you say).

I tend to agree with you, pessimist that I usually am. If we leave it to nature then the natural consequence of continued environmental degradation for profit and more competition for dwindling resources will ultimately be war and lots of it, leading to lots of death and even more destruction, perhaps nuclear. But hey, that's natures way and as products of nature perhaps there's nothing we can do about it. Even if it goes against all our logical reasoning it would seem instinct will probably lead us to our demise.

Anyone else have any suggestions.

Share this post


Link to post
Share on other sites

Excess and conspicious consumption is the direct result of planned obsolescence, over-marketing and a consequence of the Post Kenysian myth of Free Market Theories.

The West - mainly the USA - has over-consumed, as long as other nation states have been prepared to fund the resultant trade deficits.

Meanwhile, Western governments have run massively overdrawn Internal Account Budgetary Deficits.

This is, other than scale, no different to the average person funding their excessive lifestyle on credit cards: fine until the credit runs out.

The centre of real fresh new wealth creation has shifted, increasingly, to Asia. Such Paradigm Shifts are by their very nature transitory.

Asian consumers thirst after Western style excess consumption of, mainly, consumer semi-durables.

This global preoccupation with meaningless baubles, bangles and beads is sustainable, until Mother Earth can no longer support such profligate abuse of finite natural resources.

End of argument.

:unsure:

Share this post


Link to post
Share on other sites

Yes.

The planet said environmental campaigners should change their slogan from 'Save the Planet' to something more relevant such as 'Save Your Sorry Ar$e'.

Earth added: "Okay, so there may come a time when, for a variety of reasons, I am no longer able to support pandas, polar bears, and humans, but you know what? Life goes on.

http://www.thedailymash.co.uk/news/environ...et-20080306774/

It's too easy to be unsustainable. Tragedy of the commons, intergenerational inequity, 190 (ish) nation states that can't even agree trade terms, inability to learn from history etc etc.

Edit: for Ar$e

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   288 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.