If industries do not face a requirement to pay fees in proportion to pollution put, natural resources taken, or habitat disturbed or destroyed, then prices will not honestly reflect true costs, including the cost of lost opportunities associated with environmental harms. Ancient sacred texts tell us that truth is important. Truth is important everywhere, at all times. Even truth in pricing is important. If we persist in allowing society to function without embodying truth, we will create a more harsh reality for the younger generation.
A society that fails to embody a basic right in practice manifests moral failure. It cannot be successful in the long run. Our global civilization is not sustainable because prices are lying to us about true costs.
Ancient texts tell us that it is the younger generation that suffers for the sins (the irresponsibility; the immoral acts) of the older generation. If we allow environmental degradation to remain profitable to industry (because there is no requirement to pay compensation for environmental damage or degradation), then degradation will continue. Squandering of limited resources will continue. That spells disaster because a society cannot be sustainable when causing degradation of environmental quality is profitable. Collapse is inevitable. We cannot expect good results from continued dishonesty in pricing any more than we can expect good to come from other forms of persistent dishonesty.
Extreme poverty, economic disparity and perceived injustice cause social unrest and erode social cohesion. Economic stress draws people's attention away from a focus on maintaining healthy personal relationships and civic institutions, and can put both at risk. If proceeds from environmental impact fees were shared to all people equally, poverty would be eliminated and disparity would become a much smaller concern--no longer an existential threat to social stability.
Who will call for efficient and fair accounting of economic externalities? Who will demand shared ownership of natural resource wealth?
Equal Sharing of Natural Wealth Promotes Justice and Sustainability
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