Toward a Conservation Economics

Posted by Dr. James Canton on February 13, 2009 under Uncategorized | Be the First to Comment

Clearly the global economy is in free fall and despite what actions any government takes, we need a financial liposuction to trim the fat, so to say. The fat in this case is the funny money deals, lack of any regulation, voodoo economic theory and enough stupidity to go around, from consumers to Wall Street. It is time for adult supervision.

My position on this is that the global financial crisis will last best case 2-3 years, worse case 3-5, and I think that is unlikely, as the global economy, led by the US and EU, is fundamentally sound. GDP is stable and even growth will return. I think there is a confidence issue that is fueled by the sky-is-falling-media and many people will be hurt. But a recovery is in the cards and soon.

While we are reassessing our lifestyle, consumerism, retirement and work in general, a return to basics is in order. Do we really need all the stuff in our lives? Do we really need the consumption on steroids that has got us here? Is “greed is good” the only moral standard?

I forecast that the trend toward sustainability, a new Conservation Economic model will emerge. More simplicity, sustainable consumption, reasonable choices, evaluation of lifestyles are all in order. Conserving money, resources and living a bit more aware of the future will be a part of this new awareness.