World Economic Growth Limited by Sustainability Constraints
I had the pleasure of listening to a number of fine Ted Talks on my trip to the airport this morning, each addressing the growing disparity between the rich and poor, and the demise of the middle class. In a fabulous presentation, Harvard professor Niall Ferguson (pictured) explained how and why the West came to economic prominence over the last 500 years (he cites six “killer apps”). He then goes on to assert that these are “downloadable,” in fact, that cultures around the world have already incorporated them into their societies, and have begun to experience skyrocketing levels of GDP per capita.
There is a natural limit to all this good news, however (which is what makes it relevant to this blog) and that cap is sustainability. The planet’s resources will not support seven (soon to become 10) billion people – all driving SUVs and eating hamburgers. But will the world’s most affluent somehow come to the conclusion that it’s a good idea for them to restrain their consumption?