Global greenhouse gas emissions linked to economic growth
“A new study from the University of Michigan’s Institute for Social Research suggests that a transformation of the world’s economies or a limit to economic growth may be needed to curb the rise of atmospheric carbon dioxide concentrations.”
This comes from a recent article about the fundamental incompatibility of an economic system based on endless growth and the problem of climate change. And therein lies the fundamental paradox of our times. Our modern, industrial, capitalist economy depends upon endless growth to function. We celebrate every uptick in the growth rate and fret when growth is “sluggish”. Yet as this study demonstrates, more growth leads to more greenhouse gas emissions and consequently an accelerated rate of climate change. So we can have one or the other, it seems, but not both. What will it be? More growth or less climate change?
“The researchers found that for each trillion in U.S. dollars that global GDP deviates from the trend, there is an accompanying deviation in CO2 levels of about half a part per million (ppm), reported LiveScience.
Noting that the study “more or less” echoes 1972’s “The Limits to Growth,” author and environmental activist Bill McKibben told HuffPost in an email, “We should change the meaning of ‘business-as-usual’ to focus on building more resilient, localized, community-focused economies, instead of the sprawling ones that for the last few decades have been awarding their bounty to the 1%.”
Climate Change And Sustained Economic Growth Link Observed In New Study.