Thursday, March 07, 2019

A message to the Churches:

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:

ChatGPT said...

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.