MEMO TO THE #OCCUPY MOVEMENT (A Post Growth Economy)

by: EJ on 10/14/2011
Posted in: Activism

This week, the Post Carbon Institute is sending videographer Ben Zolno to the protesters’ staging area in Zuccotti Park with 100 copies of The End of Growth: Adapting to Our New Economic Reality by Richard Heinberg, which plainly describes the fundamentals behind the current Wall Street angst, along with the following memo from Heinberg, and a video camera. Zolno plans to meet with protesters, Wall Street executives, cops, and passers-by to hand out the books and dialogue about the end of growth.

Richard Heinberg’s memo to the demonstrators, originally posted on the Post Carbon Institute blog October 5th, is reprinted here with permission.

 

Here’s a fact that's hard for most Americans to swallow: economic growth is over. Given the finite nature of our planet and its resources, the recent trend of global economic expansion was destined to end. No stimulus package or slashing of social programs is going to flip the economy back to an expansionary trajectory. We’ve hit the proverbial wall, and this will be the defining reality of our lives from now on.

The growth-seeking political-economic system has failed us. Today that system is dominated by Wall Street. “Goldman Sachs rules the world,” trader Alessio Rastani told us in a now-viral BBC interview. I met people like Rastani in researching my book, The End of Growth. At one lavish conference, 800 global investors packed a hotel ballroom to consider climate change. There was no talk of how to avert or mitigate floods and droughts. Instead, the discussion focused on profiting from warming with — no joke — weather derivatives. These folks were just doing their job, despite any private feelings of concern, remorse, or dread. And each was getting paid enough to single-handedly fund a midsize school district.

Both Wall Street and Washington are trying to do something impossible: grow human consumption forever in a world of limited energy, minerals, water, topsoil, and biodiversity, all while protecting and expanding the riches of the top one percent. If economic growth is over, that means we can no longer count on a rising tide to lift all boats. Under these conditions, extreme income inequality is not just unfair, it is socially unsustainable.

It’s strategic to bring protest to Wall Street rather than Washington. We must go directly to the crime scene — not with a request for reforms, but with an arrest warrant from the people.

You courageous people in the occupy movement are absolutely right in saying the system is broken, greedy, and unfair. But when our discussion turns to replacing the current system, we’ve got to embrace a bigger view of reality than the one held by stock traders and politicians. It's not just our wealth they want to control, it's our vision for what is both possible and necessary. We need a post-growth economy that works both for people (all of them) and for the rest of nature: a localized economy based on renewable resources harvested at nature’s rates of replenishment, not a fossil-fueled global economy driven by the imperative of ever-higher returns on investment.

 There will be life after growth — and it can be a better life if our nation’s priority is the quality of life of our people and the integrity of the biosphere, rather than stock prices and corporate profits.

 With support,

 

Richard Heinberg

Senior Fellow, Post Carbon Institute

www.postcarbon.org

 

Here is the first video installment from Ben Zolno as he holds  The End of Growth seminars on Wall Street.

 

 

 

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