Consuming more is needed for transition towards sustainable economy
October 20, 2010
The global economy is (still) facing hard times. Poor economic growth, low interest rates, global imbalances and looming protectionism are sketching a gloomy picture. Currency wars are predicted, or in fact already happening.
Some people who are promoting a greener economy regard economic slowdown to be a blessing. Consuming less is good for the environment, so the crisis is helping their agenda, they claim.
I think the road towards a more sustainable economy will in fact need more consuming. The consumer is the only stakeholder that can at this point uplift the economy. Governments have no more room for maneuvering; they are facing record levels of debt. Regulators have no more tools to recharge economic development.
Whether one likes it or not; only a sound economy can bring a more sustainable economy. Economic slow-down, high levels of debt, paralyzed governments will only bring the opposite. Thus consuming more instead of less is needed for the desired transition towards a sustainable economy. Agree? Or better: do you buy this?
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I beg to differ. Mor consumption leaves the fundamental unbalance in the world untouched. More investment is needed in China with its savings glut. More saving is needed in most Western countries (USA first) with theor consumption glut. A good economy is a precondition for sustainability but a less balance world is a precondition for long-term economic investment.