The Financial Times: Martin Wolf: Inaction over climate change is shameful

Inaction over climate change is more than shameful, it’s suicidal. But shaming those who can do something about global warming will not work. They have no shame. Because they cannot see the wrong in what they do. I agree with Mr Wolf that “we need to shift the world on to a different investment and growth path right now”. I agree rich countries who caused the problem need to pay. The redistribution of wealth to “countries that matter for the solution” needs to happen. But I don’t think it will.

The wealthiest individuals, in the wealthiest economies, are like the character Sydney Stanton, the hobbled billionaire in 1950’s sci-fi film “When Worlds Collide”. He thinks his wealth buys him a seat on the ark. It does not. It only buys the opportunity to build it. Think about this for a moment. The 1000 richest people in the United Kingdom increased their wealth by 184 per cent in the ten years that have accompanied austerity. They accrued £468 billion on top of the £256 billion they already had, while the rest of the population experienced the worst decline in living standards in a generation. They no doubt accumulated this wealth by working hard, making shrewd investments, and leading successful businesses. They also managed to convince successive neoliberal governments to decreased their tax liability. £468 billion could do a lot of good. Why isn’t it? Because trying to shame the Stanton’s of the world into changing their ways is like eating glass. The only person with a lacerated tongue is you. “You did it to yourself.” Shaming them will not work. They still think they can buy a seat on the ark, and a way out of the apocalypse.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s