Quality Not Quantity

The upside to the recession

by Samantha Macina

Published: Tuesday, April 28, 2009

http://www.fairfieldmirror.com/news/the-upside-to-the-recession-1.1737634

The solution to two of the world’s biggest problems could potentially be linked, according to Robert Costanza, who spoke about “The Global Recession as an Opportunity to Create a Sustainable and Desirable Future,” to members of the University on Thursday as a part of Earth Week.

Costanza stated that there is actually a plus side to the current worldwide economic recession. It provides us with an opportunity to rethink our goals as a society, and create a sustainable future by changing the way we view the economy.

According to Costanza, the 1950s brought about an increase in society’s use of ecological resources, such as fossil fuels and raw materials. This constantly increasing use has caused unprecedented changes in the world’s ecosystems, causing loss of land area, increased storms and more flooding worldwide.

Unless we work to stop it, our environment will continue to decline.

Costanza said Americans typically view the economy as a market whose purpose is for growth. But this is the wrong way to look at things. “The economy should be for creating a high quality of life, and sustaining it in the future. It’s about human well-being,” he said.

He recommended a “full world model of economy,” in which material growth would slow. Instead, there would be an increase in quality of consumption, not quantity.

Costanza expressed his hope that the recession has us on the right path, and will “break our addiction” to the material.

Costanza has spent years conducting research on the relationship between ecological and economic systems.

Since receiving his PhD systems ecology from the University of Florida, Costanza has become a professor of ecological economics, the director of the Gund Institute for Ecological Economics at the University of Vermont, and the co-founder of the International Society for Ecological Economics.

He concluded that best way to improve the environment and increase quality of life is by rethinking the way we view the economy.

For Costanza, maintaining ecosystems is the solution to economic success. They will create well being by providing us with services, such as climate control, food, water, security, and health.

According to Costanza, the value of the resources ecosystems could provide would be about $33 trillion per year, plus an increased quality of life.

Students in the audience were willing to heed Costanza’s advice. “I think it is very important for students, not only at Fairfield, but all over the world, to learn about these issues. They need to be dealt with to ensure our survival, and the change can start with us,” said Taylor Bicho ’11.

Michael Chiaramonte ’11 said “It’s important for our generation to learn about environmental problems, and how to fix them, because it is something that will continue to affect us.”

Costanza urged the audience not to retreat back into old ways after the recession is over.

He said, “Global recession has us on the right path.”