Session 15: Sustainability and Economic Progress
The reading allotted for this session focuses on the economy and society. An aspect which which seemed to be particularly interesting and important to me was the concept of sustainability while aiming for economic progress. Heywood mentions that while aiming for economic progress, people overlook the ecology and the sustainability of resources. I feel like 'industrialization', when carried out by severely damaging the supply of resources is being considered as economic achievement when it's ironically leading towards scarcity. Sir mentioned an example of excessive exploitation of resources, that is: overfishing. Professor Dalhousie of University of York claims that if action is not taken, sea fish will be depleted by 2048. I think it's crucial to understand that sustainability and the viewing of material benefit whilst keeping long term consequences in mind is a separate and more important achievement for human beings in society. In the quest for gaining economic upstanding, the economies of today's world seem to be heading towards a disaster.
Verification of facts:
http://www.telegraph.co.uk/news/uknews/1533125/All-seafood-will-run-out-in-2050-say-scientists.html
I believe the your point about a need for sustainability is very pertinent. In the last session, I was surprised to know that environmentalism actually exists as a political ideology, because I had previously assumed that the environment was a completely different topic of discourse, failing to realize that it is relevant to all socioeconomic and political spheres.
ReplyDeleteIn most of the countries there are quotas for firms up to which they can pollute the environment. You will be surprised to know that even there is a market of these quotas too, for example if you are using 70 percent of your allowed quota, you can even sell the remaining 30 percent to any other firm which is polluting the environment over its limit and wants government approval.
ReplyDeleteI think you have raised a very good point. Specially in Pakistan where people are only debating between capitalist and socialist pros and cons, the factor of sustainability goes completely ignored. In my opinion, it is due the fact that poor economic state, unemployed lot and hungry children walking on streets raises too many unanswered questions before the discussion can lead to the topic of sustainable economies.
ReplyDeleteBut if we give it a deeper thought, it is the environmental sustainability which can ensure human survival in the long run. Like you said, otherwise we are just heading towards a disaster.
I think this a very interesting nuance to the debate on economic systems in political ideologies.Mostly we fail to take into account environmental costs while arguing for the demerits of any economic system such as capitalism but a viable cost benefit analysis should include environmental costs as wel.l
ReplyDelete*well.
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