planetary wellbeing without exclusion or exploitation respecting the needs of

Planetary wellbeing without exclusion or exploitation

This preview shows page 16 - 18 out of 23 pages.

planetary wellbeing without exclusion or exploitation, respecting the needs of next generations. Ethical companies use combinations of local and national currencies to make goods and services accessible to people in poverty. Yet since cultural and linguistic habits are hard to change, the economic potential of these initiatives is not recognized, resources remain unused and needs unmet. RRI has to turn these initiatives into catalysts of change by making them visible, raising awareness of their value and fostering political support. RRI should foster the development of exchange systems that valorise and exchange resources and lead to regrowth of the economic function . It has to support the valorisation of all roles needed for human wellbeing and thus foster gender equality. It should also build knowledge on innovative monetary systems that emerge in response to the crises, and investigate what governance they need and how communities can integrate them in their economic fabric. The concept of ‘regrowth’ is visualised in table 1. Since currently overshoot day falls in August, we can say that the current system uses 150% of the renewable resources, and since the majority of the world population (estimated at 80% for the sake of the argument) lives in poverty, these resources serve only 20% of the population. If the economy could allocate 100% of the resources to 100% of the population, the economic function would be better fulfilled (regrowth of economic function). If further decoupling and other RRI allow us to use less than 100% of resources (allowing natural ecosystems to restore and build buffers) for more than 100% of the population (foreseeing population growth in future generations), regrowth goes up again.
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EU Politics for sustainability: systemic locks-in and opportunities, Snick 17 Table 1 : Modelling the impact of various scenarios on economic function and social/ecological wellbeing (exempli gratia) Economic function Scenarios Used % of Yearly Available Resources = R Allocation by means of For % of World Population’s Wellbeing = P P/R-Ratio = Regrowth index Impact on context Current situation 120 Planet overshoot Monopoly of scarcely designed (extractive) money 20 - Worldwide competition 20/150 = 0,13 Social, ecological and geopolitical threats Continued growth & private profit 125 Increasing entropy Competition & speculation for financial profit 15 - Capital Accumulation 15/125 = 0,12 Lock-in aggravation of crises Inclusive & green growth 110 External entropy Competition with (patented) clean products and services 25 Social corrections 25/110 = 0,23 Slowing down crises, no systemic solutions Regrowth supported by RRI 100 Entropic degrowth Innovative financial rules & community currencies protecting common goals 100 Solidarity & cooperation 100/100= 1 Baseline Access to (commons based) resources to fulfil all functions Sustainable Regrowth 80 Further decoupling Commons-based RRI up-scaling & fostering uptake of new economic paradigms 105 = Including next generations with population growth 105/80= 1,31 Regrowth Restoring ecosystems, social justice & prosperity
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