I'm excited to announce this new paper we have out in Nature Sustainability. We track countries' performance on social and ecological indicators (the doughnut!) from 1992 to 2015. With the brilliant @AndrewLFanning, @DrDanONeill and @Nicolas43513211. nature.com/articles/s4189…
Here are some of the key findings:
1. No country has managed to achieve minimum social thresholds while remaining within planetary boundaries over the period analyzed. But a few do come close, with Costa Rica leading the way.
2. Social gains have been slow and insufficient even while resource use has exploded.
This is what happens when you have an economic system that is organized around capital accumulation and elite consumption rather than around meeting human needs.
3. Rich countries are using far more than their fair share of the planet's resources, and are the primary drivers of ecological breakdown. Even countries like Norway and Germany that are often held up as models have massive levels of ecological overshoot. Here is the UK:
4. We projected ‘business-as-usual’ trends to 2050, and found that, on our current trajectory, we are on track to deepen the ecological crisis while failing to eliminate social shortfalls.
This is not an acceptable future. We urgently need to change course. Rich countries will need to shift to post-growth and degrowth policies, and poorer countries need the freedom to use social and industrial policy to meet human needs.
You can use this interactive website to check out your own country and see how its performance changes over time: goodlife.leeds.ac.uk
And thanks to @KateRaworth, who came up with the model that inspired this work! Check out the Doughnut Economics Action Lab if you haven't already: doughnuteconomics.org
• • •
Missing some Tweet in this thread? You can try to
force a refresh
This is one of the most important books I've read this year. I've been researching and writing about capitalism and imperialism for my whole career, and I learned something from every page. It's a must-read for anyone who wants to understand the world economy.
The Patnaiks argue that capital accumulation in the global North *requires* an imperialist arrangement with the global South, not as a bug but as a feature. This helps explain several turns in global economic history that economists have otherwise struggled to understand.
The book also includes a chapter that updates Utsa Patnaik's research on the British colonial drain from India, which I had reported on here. New data puts the total figure at $66 trillion. aljazeera.com/opinions/2018/…
I had the honour of reading an advance copy of David Graeber and @DavidWengrow’s new book “The Dawn of Everything”. It is masterful and exhilarating – a much-needed update to our story of human civilization. It is also politically liberating:
For ages we have been told that if we want to create an egalitarian society the only option is to wind back time and return to living in small forager bands. After all, hierarchy emerged with the rise of complex societies. It is a necessary feature of civilization. Right?
Not so. Graeber and Wengrow show that human history is full of complex, multicultural societies – even cities with big public works – that show no evidence of kings and palaces and coercive power.
What does the World Bank's lead climate economist think about degrowth and post-capitalism? We did a written debate in the pages of Development Policy Review. You can read it for free here: onlinelibrary.wiley.com/doi/10.1111/dp…
Some of my arguments:
1. Growth in high-income nations is driving ecological breakdown
2. Hoping for “green growth” is not a reasonable response. We need to be scientific about this.
3. Rich countries must adopt post-growth pathways
4. Development requires decolonization
5. Social value and provisioning can be increased without rising commodity production
6. The key is to decommodify and expand essential social goods
7. The Environmental Kuznets Curve will not save us
I'm excited to share this new piece—a radical proposal for how global South countries can achieve economic decolonization and human-centered development, using a combination of MMT, industrial policy and debt default. See what you think: newint.org/features/2021/…
"The existing approach to 'development' will never work because it is not designed to work. It is designed to maintain Northern access to cheap labour, raw materials, and markets in the Global South."
Governments can use MMT to reclaim their resources and labour to focus on meeting domestic needs rather than servicing Northern consumption, with universal public services, food sovereignty, energy sovereignty, and a public jobs guarantee, ensuring decent livelihoods for all.
Most people don't realize this, but the majority of high-income nations have already significantly exceeded their fair share of the carbon budget for 2 degrees. Their "zero by 2050" targets are therefore wildly inadequate. Here are the biggest overshooters:
This chart is based on emissions data from 1850 to 2015, with consumption-based emissions from 1970 onward. We used the same approach as in this paper, but with a budget for 2 degrees rather than for 350ppm. thelancet.com/journals/lanpl…
In order to represent any modicum of fairness or justice, rich nations must reach zero as soon as is humanly possible, including by scaling down unnecessary forms of production so decarbonization can be accomplished more quickly.
34 years ago today, Thomas Sankara, the revolutionary leader of Burkina Faso, was assassinated in a French-backed coup. He aspired to an egalitarian, feminist society, and an economy built on self-sufficiency, ecological regeneration, and independence from Western powers.
Today, Sankara's legacy is inspiring a new generation of revolutionary thinkers and activists across the continent and beyond. As Sankara himself put it, with uncanny prescience, “You can assassinate revolutionaries, but you cannot kill ideas”.
As debt crises mount across Africa, his ideas are more vital now than ever. Here's a little bit of background on Sankara's legacy, from The Divide: