A recent article, “Natural capital” accounting method might give nature an economic voice gives us another angle on the question David Spero raises. Can the global economic system be adjusted so humanity stops destroying Planet Earth? Or do we need a more radical replacement for capitalism, as David asserts?
In March of 2021, the United Nations adopted a framework which will allow the nations to keep track of their "Natural capital" -- that is their forests and species, rivers and land. How? By giving each facet of nature a monetary value. Such a system will make it more apparent that depredations of nature are economically costly for a nation. Hopefully, the nations will be encouraged to add environmental protections and to have programs to regenerate nature.
The article goes on to explain how this idea tracking natural capital may a) be useless and b) be a diversion from a more radical approach which will be needed if David's analysis is correct. What if any program to save nature will necessarily reduce profits significantly, leading to a collapse of the capitalist system?
Myself, I tend to be pragmatic and think that we need multiple approaches, so let's try giving nature a monetary value. Just be aware that it might not work or might even make things worse if Natural Capital is accepted as a full solution.
#The_UN_Goals #goodjobs #together
