The End of Economics and What it Will Do for You!

The time to end economics is NOW!

What? End economics?

That's right I said it.

"But isn't economics important?" you may ask.

Well...what is economics?

Economics is a human construct developed by brainy mathematical people to study money. That's my definition anyway. Dictionary.com defines economics as: the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind.

I missed out the part about the "welfare of human kind." I'm not so surprised as the "welfare of human kind" doesn't actually factor into traditional economics. See that's the problem with allowing brainy mathematical people to rule the world. Anyone that good at math has GOT to have a corresponding emotional and empathy deficit. Either that or its just a conincidence that all my math teachers have been quite cold fish.

Consider the fact that modern economies MUST expand in order to be considered healthy. The entire economic system on which we live and which we depend on for survival is built upon the theory that never ending expansion is the key to our health and well being. Unfortunately we have a finite number of resources on this planet. The more we expand and use them up, the more scarce and expensive they come and the more unstable our economies become - which leads catastrophic economic meltdown like....

...a complete lack of credit and the failure of the world's financial system.

But that would never happen. Would it?

I was recently on treehugger.com and noticed an interview with David Suzuki under the radio links. David Suzuki is Canada's premier environmentalist. Listen to what he has to say at the following link.

http://ads.treehugger.com/thtv_files/audio/TH%20Radio/Podcasts/TH%20Radio%2024.mp3

Consider this: If the concept of never ending expansion of economic activity (ie. use of resources expands on a never ending scale) is impossible then we MUST go through recession and economic hard times every few years or decades and, perhaps, massive depressions every 70 - 100 years or so.

Now, with the current financial crisis at hand, we have the chance to fix this fatally flawed model and to save ourselves and our planet. I mean, massive changes are going to be made to our economic models and the way we define wealth as a result of this so let's get it right. This means that you will have a more secure future, be able to make more money long term, will live in a less polluted world, enjoy greater health, and a more positive outlook for your children. It all boils down to sustainability. Economists have created an unsustainable system which only measures money and it's exchange as the basis for our well being. It's time we factored our resources, our health, our quality of life, and the legacy we leave behind for our children into the equation. How do we do this?

Listen to David Suzuki and come back another day for some ideas

Next up: GDP - Gross Domestic Product or Gosh Darn Problem?