Thursday, December 11, 2008

An Honest Market

I linked to Lester Brown yesterday, primarily with reference to language and metaphor. I think his ideas are important as well...

The key to building a global economy that can sustain economic progress is the creation of an honest market, one that tells the ecological truth. To create an honest market, we need to restructure the tax system by reducing taxes on work and raising them on various environmentally destructive activities to incorporate indirect costs into the market price. If we can get the market to tell the truth, then we can avoid being blindsided by a faulty accounting system that leads to bankruptcy. As Øystein Dahle, former Vice President of Exxon for Norway and the North Sea, has observed: “Socialism collapsed because it did not allow the market to tell the economic truth. Capitalism may collapse because it does not allow the market to tell the ecological truth.”

An honest market. A market that tells ecological truth.

Paul Hawken and friends called for it many years ago. Umair Haque brought it up last week. It's the market to which this blog's title refers. And, hopefully, The Carrot Project can play a role in bringing it into being.

blog comments powered by Disqus