Excerpted with permission from Escape from Overshoot: Economics for a Planet in Peril, Peter Victor (April 2023, New Society Publishers.
Fourteen Propositions for Planning an Escape from Overshoot
1. There is compelling evidence that humanity is living in an era of global overshoot.
2. A reduction in the physical scale of the human enterprise is essential to escape from overshoot.
3. The historical and current causes and consequences of overshoot are extremely unequal within and among countries.
4. Limits on material and energy throughput and land transformation are critical to an escape from overshoot.
5. Contraction and convergence is an appropriate ethical principle for building an escape plan.
6. A planned escape from overshoot requires a common sense of purpose such as has been seen in times of war and pandemics.
7. A common sense of purpose should be founded on principles of justice, otherwise the escape plan will be compromised by people and institutions seeking their own self-interest rather than working towards shared objectives. These principles of justice should encompass non-human life as well as human.
8. A common sense of purpose is more likely to emerge from forms of democracy that combine representation and participation, and which are based on the principle of subsidiarity-that social, political, and environmental issues are best dealt with at the most immediate level consistent with their resolution.
9. Reductions in population should be welcomed, planned for, and encouraged through increased measures such as: accessibility to education especially for girls, increased availability of contraception, provision of a basic income and wealth, and better support for the elderly.
10. Finance should facilitate the escape from overshoot rather than exacerbate it. To this end, money creation by commercial banks should be curtailed. The financialization of nature and the implication that it exists solely to serve human interests, should be halted and reversed.
11. Technology does not exist in isolation. It is embodied in materials and requires energy for its production and use. Technologies often have unintended consequences which can be positive and negative. Whether and how technology contributes to the escape from overshoot depends on who owns it and what they seek to obtain from that ownership.
12. Knowledge and ideas should be shared as much as possible given that they are non-rival. Exclusion of potential users through intellectual property rights should be discouraged, especially where it impedes the flow of information, products, and services to low-income countries as happened, for example, during the COVID-19 pandemic.
13. Capitalism presents serious obstacles to an escape from overshoot. It serves the interests of the owners of capital, who, through increasingly powerful corporations, are constantly looking for ways to extend their reach, increasing overshoot, and only incidentally serving the interests of other members of society. Experience with Socialism has a mixed record in relation to overshoot, having focused on growth almost as much as in capitalism, and it has shown the shortcomings of central planning.
14. Overshoot will transform economic and political systems. It is better to choose the transformations we want rather than have them forced upon us by circumstances beyond our control.
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ABOUT THE AUTHOR
Peter A. Victor is Professor Emeritus at York University. He was awarded a PhD in economics from the University of British Columbia in 1971 and has worked for 50 years in Canada and abroad as an academic, consultant, and public servant specializing in ecological economics and alternatives to economic growth. Peter sits on the Honorary Board of the David Suzuki Foundation and the Circle of Ecological Economics Elders, is chair of the Science Advisory Committee of the Footprint Data Foundation, and is an elected member of the Royal Society of Canada. He was the recipient of the Molson Prize in the Social Sciences from the Canada Council for the Arts in 2011 and the Boulding Memorial Prize from the International Society for Ecological Economics in 2014. He is the author of six previous books, including Managing Without Growth.
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