Markets and Human prosperity: Reduce, Reuse, Recession

A warning from the economic cycle.

by Mike Nickerson (adapted)

Economists say we economically prosper when the markets grow.

Do we?

We are so immersed in the values, procedures and promotion of growth economics that it is hard to look at society's well-being in any other way. Events of the last decades, however, reveal serious omissions in the economic world view.

Back in the late 1980's we all learned Reduce, Reuse, Recycle. It was a popular response to the "urgent notice" issued in 1987 confirming that human activity is growing into confrontation with planetary limits.

The response was tremendous. Recycling, the only 'R' that can be measured, showed a rapid and massive acceptance. Participation rates of 80% and 90% were realized within months of program start ups. Reduction and Reuse, which are even more effective solutions to the limitations in question, likely received similar attention.

Whether or not the recession that followed was directly related to reduction and reuse efforts would be an interesting topic of research. Another connection to explore would be the simultaneous occurrence of the 'Black Monday' stock market crash and the tabling of the United Nations report that issued the "urgent notice" mentioned above. Both occurred October 19, 1987. The UN date had been known since April when the report was released. Could sales of shares in offending industries have triggered the computer enhanced crash that shook the financial world?

Whatever the causes, the events that followed illustrate a point of critical importance.

Popular concern for environmental adaptation could have transformed civilization. Momentum grew rapidly as soon as the cause gained legitimacy. People were ready and it is well within our knowledge and ability to develop satisfying ways of living that fit within ecological bounds.

Why did we stop?

Legitimacy was withdrawn from Reduce and Reuse when our 'leaders' realized they are in direct conflict with the goal of economic expansion. How can a population reduce and reuse in good conscience when the primary value of society is to expand production and consumption? There is a fundamental moral conflict here.

Recycling is OK because it expands commerce and provides resources for ever hungry production machinery. Reduction and reuse clearly inhibit growth.

Isn't it time for a public review of the value systems that are at odds here

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