Legacy: How to Build the Sustainable Economy

Legacy explains the key features of a sustainable economy, such as maintaining different types of capital, polluters paying, the current generation funding natural asset maintenance, and saving to invest. It highlights the weak points of current approaches to net zero and biodiversity loss and our neglect of core infrastructures, and emphasizes the need for us to meet our duties to the next generation.

Format: Paperback / softback
Length: 266 pages
Publication date: 09 November 2023
Publisher: Cambridge University Press

A sustainable economy is one that operates within the boundaries of our planet's resources, aiming to minimize environmental impact and ensure long-term viability. It requires a shift towards renewable energy sources, sustainable agriculture practices, and efficient resource management. A sustainable economy also emphasizes the importance of social equity and justice, as well as the need to address issues such as income inequality and climate change.

To live within our environmental means, we must prioritize conservation and sustainable practices in all aspects of our lives. This includes reducing our consumption of resources, recycling and composting, and using public transportation or carpooling. We must also invest in renewable energy technologies and support policies that promote sustainable development.

A sustainable economy requires a shift in our economic system towards one that values sustainability and social responsibility. This includes promoting fair trade practices, supporting local businesses, and investing in infrastructure that supports sustainable development. It also requires a shift in our mindset towards one that values the long-term health of our planet and its inhabitants over short-term profits.

One of the key features of a sustainable economy is the concept of "natural capital." Natural capital refers to the resources that our planet provides us, such as air, water, soil, and biodiversity. These resources are essential for our survival and for the functioning of our economy. However, many of these resources are being depleted at an alarming rate, and if we continue to use them unsustainably, we will face significant consequences.

To properly maintain different types of capital, we must invest in their conservation and restoration. This includes investing in renewable energy technologies, sustainable agriculture practices, and infrastructure that supports conservation efforts. It also requires us to reduce our consumption of resources and to prioritize the use of sustainable materials and practices.

Polluters would have to pay for the environmental damage they cause, as a way to incentivize them to reduce their pollution. This could be done through a variety of mechanisms, such as carbon taxes, pollution fees, or emissions trading systems. Polluters would also have to invest in clean technology and practices to reduce their environmental impact.

The current generation would have to fund the necessary maintenance of our natural assets, such as parks, forests, and oceans. This could be done through a variety of mechanisms, such as taxes on natural resources, public-private partnerships, or conservation grants. The current generation would also have to prioritize the conservation of natural resources for future generations.

Saving to invest is also essential for a sustainable economy. This means investing in infrastructure and technologies that support sustainable development, as well as in education and training programs that promote sustainable practices. Saving to invest also means reducing our consumption and investing in assets that have a positive impact on the environment and society.

The message is a tough one: we are way off course in terms of meeting these conditions and we cannot escape the consequences. Our planet is facing significant environmental challenges, such as climate change, biodiversity loss, and pollution. If we do not take action to address these challenges, we will face significant consequences, such as rising sea levels, food shortages, and economic instability.

This book explains what we would have to do to mend our ways. It highlights the feebleness of current approaches to net zero and biodiversity loss as well as our great neglect of the core infrastructures, and why we are not meeting our duties to the next generation. The book also provides a roadmap for creating a sustainable economy, including strategies for reducing our consumption, investing in renewable energy, and promoting sustainable practices in all aspects of our lives.

In conclusion, a sustainable economy is one that operates within the boundaries of our planet's resources, aims to minimize environmental impact, and ensures long-term viability. To live within our environmental means, we must prioritize conservation and sustainable practices in all aspects of our lives. A sustainable economy requires a shift in our economic system towards one that values sustainability and social responsibility, and a shift in our mindset towards one that values the long-term health of our planet and its inhabitants over short-term profits. By investing in natural capital, promoting fair trade practices, and investing in infrastructure that supports sustainable development, we can create a sustainable economy that benefits both the environment and society. However, the message is a tough one: we are way off course in terms of meeting these conditions and we cannot escape the consequences. It is up to us to take action and create a sustainable future for ourselves and future generations.

Weight: 398g
Dimension: 151 x 229 x 18 (mm)
ISBN-13: 9781009449182