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The Economic Roots of Environmental Destruction

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The Economic Roots of Environmental Destruction Conspiracy Theory or Automatic Pilot: The Economic Roots of Environmental Destruction By Peter F. Kilkus Copyright 2017 I. INTRODUCTION .......................................................................................................................................................... 1 A. PURPOSE ...................................................................................................................................................................... 1 B. PHILOSOPHY ................................................................................................................................................................ 1 C. STRUCTURE ................................................................................................................................................................. 4 II. FINANCIAL PRINCIPLES FOR FUN AND PROFIT ............................................................................................ 6 A. HOMO ECONOMICUS: THE SANCTIFICATION OF GREED .............................................................................................. 6 B. THE INVISIBLE HAND: IS IT PICKING YOUR POCKET? ................................................................................................. 7 C. THE FREE MARKET: GREED AS RELIGION ................................................................................................................... 7 D. FREE TRADE: RICARDO’S COMPARATIVE ADVANTAGE DEBASED ............................................................................ 10 E. MORAL HAZARD: UNCLE MELVIN’S PROBLEM ......................................................................................................... 12 III. MONEY: IS IT WEALTH OR ILTH? ................................................................................................................... 14 A. DEBT: THE SOURCE OF MOST MONEY ...................................................................................................................... 15 B. THE MEANING OF DEBT: DEBTS SINK TO THE BOTTOM-WEALTH RISES TO THE TOP ............................................... 16 C. WHAT IS INTEREST AND WHY DO WE DESERVE IT? ................................................................................................. 17 1. Very Personal Problems of Interest! .................................................................................................................... 17 2. Is the Surface of the Earth Growing at the Rate of Compound Interest? ............................................................. 18 D. THE INTEREST RATE (AKA DISCOUNT RATE): A CAUSE OF SPECIES EXTINCTION .................................................. 18 E. INFLATED ASSET VALUES: MORE PHONY MONEY .................................................................................................... 19 IV. THE FINANCIAL SYSTEM: WHY BAD THINGS HAPPEN TO GOOD PEOPLE ...................................... 21 A. THE CORRUPTION OF THE SYSTEM ............................................................................................................................ 21 B. SO WHO REALLY OWNS THE MONEY? ...................................................................................................................... 22 C. STRATOS DWELLERS: THE GLOBAL OVERPRIVILEGED ............................................................................................. 25 D. STOCK MARKET MYTHS ............................................................................................................................................ 26 1. Stocks Support Company Growth – Not: Whose IPO Is It Anyway? ................................................................... 27 2. The Small Investor: Gambler/Sucker/Believer (Choose One) .............................................................................. 29 E. FINANCIAL CANNIBALS: THE HEADWATERS EXAMPLE ............................................................................................. 29 F. SOCIALLY RESPONSIBLE INVESTING: AN OXYMORON? ............................................................................................. 30 1. Socially Responsible Mutual Funds: A Moral Niche Market ............................................................................... 31 2. Alternative Investment Strategies? ........................................................................................................................ 32 V. GROWTH: ANATOMY OF A PANACEA ............................................................................................................. 33 A. THE POOR NEED IT (LIKE A HOLE IN THE HEAD) ...................................................................................................... 33 B. GROSS NATIONAL PRODUCT (GNP): IT’S GROSSER THAN YOU THINK .................................................................... 34 1. Gross Domestic Product (GDP): Are You a Conspiracy Theorist? ..................................................................... 34 2. The GDP Today: How Down Becomes Up ........................................................................................................... 35 3. GDP as Cough Index: The Heisenberg Principle of Mismeasurement. ............................................................... 37 C. GENUINE PROGRESS INDICATOR (GPI): COUGH MEDICINE ....................................................................................... 38 D. ETHICOSOCIAL LIMITS: DOES YOUR CONSCIENCE BOTHER YOU YET? .................................................................... 40 VI. CORPORATIONS: PUPPETS TO THE FINANCIAL MARKETS ................................................................... 43 A. THE CORPORATION: A DISEMBODIED BODY ............................................................................................................. 43 B. EFFECTS OF CORPORATIONS: THE ALIENS HAVE LANDED ........................................................................................ 44 C. CITIZENS UNITED: PERVERSION OF DEMOCRACY - ONE DOLLAR, ONE VOTE! ......................................................... 45 D. CORPORATE MANAGEMENT: CAN THE AUTOMATIC PILOT BE CONTROLLED? .......................................................... 45 E. THE CERES PRINCIPLES: A CHARTER FOR CORPORATE RESPONSIBILITY ................................................................ 47 F. THE NATURAL STEP: BACKCASTING THE FUTURE ...................................................................................................... 48 VII. GLOBALIZATION: WANTED – TWO MORE (PHANTOM) PLANETS ..................................................... 51 A. GLOBAL COMPETITION: A RACE TO THE BOTTOM .................................................................................................... 51 B. GLOBAL TRADE: LET THEM EAT RECIPES ................................................................................................................. 52 C. TRANSNATIONAL CORPORATIONS: “MY COUNTRY ‘TIS NOT OF THEE…” ............................................................... 53 i D. CULTURAL IMPERIALISM OR DEMOCRACY THROUGH FAST FOOD AND SNEAKERS? ................................................ 54 VIII. ENVIRONMENTAL ECONOMICS AND SUSTAINABILITY (FINALLY) ................................................ 58 A. OPEN OR CLOSED SYSTEM: THE PREANALYTIC VISION ............................................................................................ 58 B. SUSTAINABLE DEVELOPMENT: THE ECONOMICS OF QUALITY OF LIFE ..................................................................... 60 C. THE COWBOY IN THE SPACESHIP ............................................................................................................................... 62 D. ON NATURAL CAPITAL .............................................................................................................................................. 63 E. ON NATURAL CAPITALISM ........................................................................................................................................ 65 F. TECHNOLOGICAL SAVIORISM ..................................................................................................................................... 66 G. THE AMBIVALENT "INFORMATION ECONOMY" ......................................................................................................... 67 H. SUSTAINABILITY ALERT: A BIGFOOT SIGHTING! ...................................................................................................... 69 I. THREE UPHILL BATTLES TO ACHIEVE SUSTAINABILITY ............................................................................................. 70 J. DO REAL PEOPLE REALLY MATTER? ......................................................................................................................... 71 1. Hong Kong: Boom Town ...................................................................................................................................... 71 2. China: Boom Country ........................................................................................................................................... 71 3. Philippines: Boom Lost ......................................................................................................................................... 72 4. Honduras: The Boom Comes Down ..................................................................................................................... 73 5. Switzerland: Your Boom, My Boom .....................................................................................................................
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