The Economics of Enough « RSA Comment
The third aspect of a sustainable economy is something economists normally steer clear of, namely ethical values. But it has been a mistake to separate morality from economic questions, as demonstrated by much of the banking industry and some other areas of business in the past few years. This is also a lesson we can draw from the achievements of political and business leaders in earlier eras of great change and uncertainty, of social and political tensions. The Victorian age was just as tumultuous as our own, with the late nineteenth century experiencing its own crisis of capitalism. A shared sense of purpose and a keen awareness of the ethical dimension of the economy were essential for navigating through the turbulence.
A common goal of sustainability, investing enough in the future as well as satisfying the ambitions of today, can provide the necessary navigational guidance, at least as long as we measure adequately what we are doing. However, it is not going to be easy to achieve.
