True sustainability lies in social equality
Why capitalism is destroying our planet and humanity.
If you have the means to buy/own something, why shouldn’t you? Here’s the problem—almost everything that can be purchased is a product of Earth’s natural resources.
But by granting access only to those with purchasing power, we’re deepening global inequality and extreme poverty. Don’t we all have equal rights to our planet’s natural resources?
I like the way George Monbiot describes it:
“At the heart of capitalism is a vast and scarcely examined assumption: you are entitled to as great a share of the world’s resources as your money can buy. You can purchase as much land, as much atmospheric space, as many minerals, as much meat and fish as you can afford, regardless of who might be deprived. If you can pay for them, you can own entire mountain ranges and fertile plains. You can burn as much fuel as you like. Every pound or dollar secures a certain right over the world’s natural wealth.”
But this completely disregards the underprivileged, especially the 1.1 billion people currently living in acute poverty, struggling to access food, water, and safe shelter, not to mention healthcare and education.
Capitalism has a lot to answer for.
While it elevated the quality of life in many countries, it also normalised the ‘every man for himself’ mentality.
The central figure in mainstream economic theory—the rational economic man—is depicted as “standing alone, money in hand, calculator in head, ego in heart, and nature at his feet. He hates work, loves luxury, has insatiable wants, and knows the price of everything.”
This me-first mentality fuels global capitalism, deepening our ever-increasing social inequality while simultaneously destroying our planet.
Let’s talk about carbon inequality
‘Carbon emissions of the richest 1 per cent are more than double that of the poorest half of humanity.’—Oxfam
Oxfam’s report ‘Confronting Carbon Inequality’ calls out extreme carbon inequality, where the wealthy minority’s extravagance is directly fuelling our climate crisis—and being paid for by poor communities and young people.
The report cautions that ‘if emissions do not keep falling year-on-year and carbon inequality is left unchecked, the remaining carbon budget for 1.5°C will be entirely depleted by 2030.’ The hope is that, by keeping global warming from exceeding 1.5°C, we can avoid the worst impacts of uncontrolled climate change.
This is now looking highly unlikely, based on the latest reports. A 2023 climate crisis article by the Guardian sounded a stark warning: we now have a tiny carbon budget left to limit global heating to 1.5°C.
Yet it’s business as usual, despite governments setting ambitious climate goals they have no intention of achieving. Dedicated climate activists like Greta Thunberg are protesting tirelessly and putting their personal freedom on the line, trying to get world leaders to listen and act before time runs out.
They’re doing what our governments fail to do: putting our collective wellbeing first.
‘For every fraction of a degree that temperatures increase, our climate problems will worsen, pushing millions into extreme poverty. This is not fearmongering; this is science.’—TIME
It’s time to balance the scales: climate justice is social justice
A study by The Conversation found a billionaire’s carbon footprint to be thousands of times that of the average American—the result of their yachts, jets, helicopters, and massive houses.
Meanwhile, the United Nations' Sustainable Development Goals 2023 Report sounds the alarm on the rising number of people living in extreme poverty. The report asserts that ‘If present trends persist, by 2030, a staggering 575 million people will remain trapped in extreme poverty and 84 million children will be out of school.’
So how do we bridge the divide?
Oxfam’s stance is a good start:
‘Governments can tackle both extreme inequality and the climate crisis if they target the excessive emissions of the richest and invest in poor and vulnerable communities.’
Ell Folan of Novara Media contends that a world without billionaires would be a happier, more equal, and greener world. I agree.
From ‘me-first’ to ‘we-first’: bringing humanity into the Doughnut
How much (money, material goods, etc.) does one need?
The truth is, we need a lot less than we think. But the system makes us believe we will always need more. Stoking the embers of FoMO-ism (fear of missing out) is crucial to keeping the wheels of the capitalist economy turning.
Whether it’s more money in the bank, more branded clothes, or the latest iPhone, we live in a FoMO-driven world, which is systemically destroying our environment and deepening the chasm between the privileged and the poor.
The more we feed the FoMO mindset, the more firmly rooted it is in our culture. This ‘me-first’ mentality seeps into every aspect of our lives: work, lifestyle, business, relationships.
Mass consumerism is a huge contributor to our climate crisis and social inequality. The more material goods we buy, the higher our carbon emissions, and the warmer our planet gets. Meanwhile, the profits from our mass consumerism line the pockets of the richest, driving and further entrenching inequality (2024 Inequality Report by Oxfam).
We can enable or disrupt the status quo by changing our consumer behaviour. What we eat, how we commute, what we buy and where—it all adds up (more on this in an upcoming post).
According to the 2024 Inequality Report by Oxfam, “Seven out of the ten biggest publicly listed corporates in the world have a billionaire as CEO or as principal shareholder.” Together, these corporations are worth $10.2 trillion.
“We’re witnessing the beginnings of a decade of division, with billions of people shouldering the economic shockwaves of pandemic, inflation and war, while billionaires’ fortunes boom. This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else.”—Oxfam
For added context: ‘Only 21% of humanity lives in the countries of the Global North, but these countries are home to 69% of private wealth, and 74% of the world’s billionaire wealth.’
The Oxfam report also connects the dots between inequality and racism, underscoring the fact that ‘Racialized peoples face exploitation in supply chains, while white people disproportionately benefit from the profits generated by corporations.’
To disrupt the status quo, we first need to change our mindset. By shifting from ‘me-first’ to ‘we-first’, we can help bring humanity into the Doughnut.
What would a people-first economic system look like?
Recommended reading:
Doughnut Economics is a people-first economic framework derived from a simple but fundamental idea:
‘Instead of economies that need to grow—whether or not they make us thrive, we need economies that make us thrive—whether or not they grow.’—Kate Raworth, co-founder of Doughnut Economics Action Lab
The goal: to get all of humanity into the Doughnut’s sweet spot.
How can Doughnut Economics be implemented?
The Doughnut Principles of Practice help ensure the integrity of any Doughnut initiative:
Doughnut Economics might seem like pie in the sky, but the revolution has already started—from Yerevan, Armenia to Izmir, Türkiye to Amsterdam, the Netherlands, and beyond.
Check out the Doughnut Economics Action Lab (DEAL) Community to see how changemakers across the globe are turning Doughnut Economics from a radical idea into transformative action.
If you’re wondering what you can do as a consumer to help shape a Doughnut future for humanity and our planet, stay tuned. I’m working on a scaled-down version of the Doughnut Economics framework to create a consumer’s guide for Doughnut living. Meanwhile, let’s get the dialogue started!
Disclaimer
I’m not an expert on these matters (capitalism, sustainability, economics), so my opinions might be flawed or factually inaccurate. I admit that talking is easy, but doing is hard. Which is why I’m on a personal journey to align my beliefs with taking practical action. I welcome constructive criticism and appreciate comments that will further my education in these matters.