Not just market signals are saying "No more!" Mother Nature is, too, says Thomas Friedman (via nytimes).
"What if the crisis of 2008 represents something much more fundamental than a deep recession? What if it’s telling us that the whole growth model we created over the last 50 years is simply unsustainable economically and ecologically and that 2008 was when we hit the wall," wonders Friedman.
Oh, and, as Jeff Hollender points out, "Mother Nature doesn't do bailouts" (via 7thgen)
Just as with a bank’s debits and credits, the inflow of energy to the Earth is equal to the outflow.
According to Hollender, we now live in a "full world", where “our economy and population growth has diminished fish stocks, fresh water, forest cover, biodiversity, and mineral and petroleum reserves.”
Of course, Daly foretold of this day over thirty years ago.
If we had known about the financial bubble back then, do ya think we might have fixed the problem by now?
And from whom might we borrow to pay our eco-debt?