Leaders welcome G20 action plan (BBC)

Has the credit crisis bought about a new world order, is the G8 now dead, long live the G20.

Only time will tell but at least on economic matters the exclusive club has got a little more inclusive.

"There was a common understanding by all of us that we should take pro-growth economic policies. Whatever we do, whatever reforms are recommended, we need to be guided by this simple fact - that the best way to solve the problem is economic growth, and the surest path to this grown is free-market capitalism. "

-President George Bush

A quote which confirms that the world's most capitalist country still believes that economic growth can solve everything. If you believe in sustainable development this was quite a depressing sound bite. Sustainable development suggests another way of growing in harmony with our resources, neighbours and the environment.

What President Bush can not answer is what happens when we can not grow, or to grow costs too much as resources become scarce. This credit crunch may well be the first of many as anything we do today will only put a crash off and it will make it bigger and longer. Regulation can only delay the inevitable, it will not solve the problem, it is not a fix more a sticker plaster. Capitalism has a flaw in that it involves the relentless pursuit of growth.

The future in this case is not ours to see, que sera sera.

The Sustainable Growth Development Party (SGDP)

The 22 point manifesto for a sustainable future.

1. We will only consume natural resources at a scientifically determined sustainable level.
2. We will only emit toxic/ waste gasses where necessary within predetermined sustainable levels.
3. Car use will be cut by 10% years down to sustainable levels.
4. Public transport will be increased by 15% each year.
5. Air use will be cut by 10% per year until a sustainable level is reached.
6. Income tax will be abolished.
7. Taxes will be based on inputs and outputs to the environment.i.e consumption of raw materials = inputs and emissions into environment = outputs.
8. Social projects for the poor will be funded by the tax system.
9. Inflation to remain below 1%
   
10. All Tax havens to be abolished.
11. Upper limit for income inequality. 1 to 30 across all sectors.
12. Banking system to have high capital / liquidity balances
13. Debt to be balanced by deposits.
14. More jobs in sustainable development.
15. More jobs in repair, recycling and maintenance.
    
16. More sustainable small businesses.
17. Reduced working week for all to 30 hours
18. Free trade between sustainable development countries.
19. Restricted trade with outsiders.
20. Restricted immigration and birth rate, population to be maintained at sustainable levels
21. Local goods for local shops in local markets.
22. New standards for product life, encourage long lasting products across all sectors.

This manifesto has been loosely derived from an article in New Scientist, 18 October 2008, "How we kicked our addiction to growth" pp 52-53.

It is very much rough thoughts and a starting point for further discussion. I may even pick a few points to expand on later, maybe development some specific policies for certain sectors such as transport.

Luckily I hit on a good name SGDP is a bit like GDP - gross domestic product. With a good name you can go places.

The Folly of Growth (New Scientist)

What I love about New Scientist is that they are not just a pure science magazine. With the recent credit crunch they ran a special issue on "The Folly of Growth - How to stop the economy killing the earth".

You see Capitalism is based on a false premise, that we must have continuous growth. The problem with that is with finite resources you cant have continuous growth as at some point resources run out, prices rise and you get shrinkage. This is the fundamental nature of boom and boost, the credit crunch and everything else that is wrong with the economy at the moment.

It means Gordon Brown is wrong, without infinite resources we cant beat the boom and bust cycle. All because of this one simple premise, which everyone can quite clearly see is wrong but no one wants to admit it because to do so would be to admit that capitalism which has worked for 200 years no longer works. A modern tale of the emperors new clothes.

It would suggest that Capitalism is just as flawed as Communism, in fact you could argue that it is more flawed than Communism as to solve the current credit crisis the governments had to move towards communism by part nationalising the banks and increasing government control of the banking system.

Of course with finite resources the logical economic system would be one that is based on efficient use of resources or more precisely sustainable development. So why do we not have a sustainable or steady-state economy already?

Well,such an economy would mean we would have to live within our own means, no more large debts, greatly reduced oil based travel, less hours worked, the redistribution of wealth from the poor, no benefits to saving and investing, and finally greater control over all aspects of our lives.

The transition period would be much harder as well, just think if tomorrow you were told you could no longer own a car, you had restrictions on the electronics you could buy and only 200 air miles for the year for your holidays. Ouch!

Of course there would be an upside, the end of consumerism, the end of boom and bust, less work, less stress, less inequality, living in harmony with nature rather than against it, better public transport, less pollution, stable prices, no income tax (tax would be on inputs and outputs to the environment), less road congestion, the end of global warming, the end of inflation, no more credit crunch, no more tax havens for the rich, stable population and much much more.

So lets look to the sustainable future and lets hope for the better tomorrow becoming reality.

I have to say all the articles in the new scientist special edition were great and are well worth reading, I may even post some more articles about sustainable development soon.