Friday, January 1, 2016
Wisdom of Economics
Economics is based on the principle of an exchange of resources. These resources are generally physical, although increasingly available is information on the use of resources. In both cases, physical resources are used. A problem facing society is that people and groups of people are focused on economic expansion, while failing to recognize that the physical resources are finite. This leads to the prevailing paradigm that as long as there is money in my pocket, so to speak, everything is hunky-dory. Consider for a minute, however, the logical endpoint of such a trajectory: Continuous expansion of economics ad infinitum (forever) in the context of a bountiful but limited resource pool, and the result is the consumption of all existing resources. Thus, use of resources must be limited to an optimum value to allow for the replenishing of resources at a rate equal to that of consumption. In essence, the value of money goes down proportionately to overuse, whether we see the depletion of the resources we are exchanging or not.
What can we do? Leave your suggestions in the comment section.
Image pulled from http://sociecity.org/2012/un-moderation-and-respect/
Labels:
Economics,
Environment,
Resource
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