A new era unfolds
Brown, L.R.
State of the world 1993 a Worldwatch Institute report on progress toward a sustainable society: 3-21
1993
DOI: 10.2307/40721433Document Number: 339821
This chapter contends that it may not be possible to reverse a fall in the living standards of nearly one sixth of humanity, if rapid population growth and existing patterns of economic activity continue. Problems are caused by an economic accounting system that misleads, and a biological accounting system that is largely non-existent. The chapter starts by highlighting the economic cost of environmental degradation. Environmental deficits run up in recent decades are enormous, and they can only be repaid by the deprivation and ill health of future generations. The slowing down in the output of food is seen as an indicator of the adverse impact of environmental degradation and rising population. If destruction of the global economy's support system continues, economic growth will eventually fall below that of population, reducing global average incomes. The challenge is to build an economic system which is sustainable; for this a shared vision is required. Tax policy should be utilized to create disincentives, specifically the partial replacement of income tax with environmental taxes. The overriding need is for a new view of the world, one that reflects environmental realities and recognizes the threat to the future of the planet.