Growth – The Elephant in the Room

Charlotte Farrell, Parliamentary Candidate for High Peak and candidate for Hope Valley in the Local Elections says…

?????????????????????????????To date I’ve attended five hustings, and at each the questions about the economy and austerity come up. The other 4 parties all talk about the need for growth to get us out of austerity. They say that with better economic growth the country will once again be able to start spending and austerity will come to an end. Every time, I make the point that we cannot have infinite growth in a finite world and that we need to rethink our whole economic plan. However, it feels as if my words fall into a void and nobody quite hears them.

I am never picked up on what I say, though I would dearly like to expound on why continued growth is bad; it’s as if there is a conspiracy not to validate mine or the Green Party’s position generally by asking the serious questions that arise from it.

Of course this may be the truth. It seems so blindingly obvious that we cannot continue to grow in the manner we are doing. Whereby the world’s population (and by that I mean the population of the wealthiest countries) continues to use more each year in terms of raw materials than the planet can replace in that time, and to throw out more waste, atmospheric and real, than the planet can deal with in the same time frame.

It seems that the other parties have no answer for this conundrum; but rather than admit it (or better still work towards finding an answer) they choose to ignore it altogether. Ostrich like, they cover their ears in the hope it will go away.

I am not denying that all of the parties recognise some need to avert climate change (except UKIP who seemingly do not believe in it); and that even under the coalition there has been some increase in renewable energy consumption, but until they address the fundamental issue of growth, their attempts will not be enough to avert global economic, environmental and social disaster.

I have always struggled with maths and so never bothered with economics. I thought it was just something for those much more intelligent than I, but now I realise that most politicians also don’t understand economics. What they do is support the existing system, either because they’re devoid of ideas for anything better, or to protect their own vested interests.

Under the present system we have to keep growing. That is because if we base our economy on debt, as is the case (97% of all “money” in circulation was originally created by the high street banks as debt); to create sufficient to pay it back (not to mention the interest) we have to produce more. And so it fuels a vicious circle.

Of course it’s difficult and unpopular to challenge the status quo and that is the reason the Green Party is constantly derided by the media, but sooner or later politicians are going to have to face up to the ‘elephant in the room’ – the question of infinite growth in a finite world.

If we’re going to exist within the limits of what our one planet can give us then one of the first things we need to accept is that there needs to be a redistribution of wealth. If we don’t have growth, then that which we have has to be shared a lot more equally than it currently is, both globally and nationally.

Again, our debt-based monetary system predicates against this. In a debt based economy the poor acquire more debt simply to live, while the rich, who do not need to borrow, acquire the benefit through tangible assets such as property, stocks and shares and the other trappings of privilege.

I believe that it will be hard to reach the kind of steady state economy we need while wedded to the old monetary system. How can something as fundamental as the creation of money, be left in the hands of those who profit most from its production? The banking system has failed us, but rather than think about a better way, we simply tinker at the edges and let it continue largely unmolested.

The Green Party wants to see money creation removed from the banks and given back to state control. This in fact used to be the case until computers did away with the need for there always to be a tangible real bit of money on the other side of the debt. Under the Green Party’s plans the National Monetary Authority would control the production of money, issuing it as and when needed straight into the real economy. It would be used (amongst other things) to build houses, schools, hospitals and railways etc and as these were built the money would filter down through the workers’ pay into the local economy.

I admit its difficult looking at things from the present position to see how we would get to that state or how we would achieve this; but that in itself is no reason not to work towards finding a way.

The destruction of the planet and our economic system go hand in hand. We desperately need to change both before its too late. If nothing else, I hope that with Green Party candidates standing in 90% of parliamentary seats this message gets across loud and clear, so long as it does, I won’t mind how often the media chose to mock us because ultimately I believe we will be heard.

Green Party candidate contact details

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s