Economy: The Economic Problem of Sustainable Governance
More than a decade after the 1992 Earth Summit in Rio, attempts to govern the global environment and manage the world economy are hopelessly disconnected. The economy is set on a path of orthodox growth powered by fossil fuels, while the environment is being progressively destabilized by the consequence of that growth – global warming. Yet, both economic and environmental governance are supposed to accomplish the same thing – namely, a world in which all people can enjoy well being and quality of life. This chapter demonstrates this by using the example of how the international community’s failure to agree a realistic solution to climate change stands to undermine, if not wreck, the world’s best efforts to improve people’s economic well-being. It then looks at what should be done about it.