The economics of extinction: a reason for rebellion

XR Blog

Professor Jem Bendell and Rabbi Jeffrey Newman

What would a sane society do, knowing that one of its luxury food supplies was being exhausted? Consume less perhaps? Or grow more? Japan, knowing that the Bluefin tuna is going extinct, does neither. Bluefish tuna make the most profit for fishermen the nearer they are to extinction, as their rarity endows all the more status on their consumers.

Some might think that is a quirky Japanese behaviour or an anomaly of economics, but actually the free-market system in which individuals compete for profit is resplendent with such stupidities. How else could the investment in fracking or tar sands be explained? Or the way Brazil is consuming the lungs of the Earth to pay back its debts. Or the way industry externalises the cost of processing much of its waste, poisoning the Earth and its future consumers?

The logic that leads to…

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