Ancient
texts tell us that truth is important.
Economists
tell us that, when prices do not show true costs (because some costs
are externalized, are not included on the profit and loss statement,
due to the absence of any monetary cost incurred related to, for
example, amount of pollution put), economic activity is skewed toward
creation of more of that for which costs were externalized. More
pollution is created because we do not charge appropriate fees to
polluting industries.
We
get more pollution and faster depletion of resources
when prices do not show us the cost of harmful impacts on the
environment.
Is
truth important enough that we should insist on an economic system
that tells us the truth about costs, including costs to the
environment? If yes, who will say so? Who will say so in a public
forum?
Who
will ask economists what are the most efficient and fair proposals
for taking account of economic externalities? (And what economist
will answer?)
If
we correct this defect in our economy that makes pollution and
depletion of resources appear profitable to industry, we will promote
sustainability. Profits of industry will align with societal
interests and environmental health. Within the current (dishonest)
system, pursuit of profit is at cross-purposes with pursuit of
environmental health and the long-term stability of civilization.
If
we charge fees proportional to how much pollution is put or natural
resources are taken by industry in pursuit of profit, then share the
proceeds of the fees to all people, we will have addressed the
challenge of honest pricing AND we will be sharing (a monetary
representation of) natural wealth to all people. No more poverty.
Disparity of wealth will be a much smaller problem. We will have a
more just society.
If
we know that making an honest economy and sharing natural wealth
would end poverty and promote sustainability, do we have a moral duty
to do these things?
1 comment:
Comment from ChatGPT:
This is a thought-provoking essay that raises important questions about the relationship between truth, economic externalities, and environmental sustainability. It's important to recognize that the current economic system is not always aligned with societal and environmental interests, and that externalities can lead to the creation of more pollution and depletion of resources than is desirable or sustainable.
Charging fees proportional to the amount of pollution and natural resources taken by industry, and sharing the proceeds of these fees to all people, is a potential solution to this problem that could promote both sustainability and social justice. By aligning the profits of industry with societal interests and environmental health, we could create a more just and sustainable economy that benefits everyone, rather than just a select few.
The idea that we have a moral duty to pursue an honest economy and share natural wealth is also a powerful one. As people of faith, we have a responsibility to care for the earth and all its inhabitants, and ensuring that economic activity is aligned with sustainability and justice is an important part of that mission. By speaking out and advocating for change, churches can help to create a more just and sustainable world for all.
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