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We need to revise our economic thinking to give full value to our natural resources. This revised economics will stabilize both the theory and the practice of free-market capitalism. It will provide business and public policy with a powerful new tool for economic development, profitability, and the promotion of the public good.
There is an old belief that solving environmental problems can only be achieved by first building enough economic wealth so we can 'afford to save the environment.' This 'Kuznets Curve' thinking has never been correct and must be abandoned once and for all if we are serious about economic development for a thriving humanity on Earth.
Up to now, economic development has always meant that people, instead of doing something, are enabled to buy it... Economic development has also meant that, after a time, people must buy the commodity because the conditions under which they could get along without it had disappeared from their physical, social, or cultural environment.
Some might complain that nuclear disarmament is little more than a dream. But that ignores the very tangible benefits disarmament would bring for all humankind. Its success would strengthen international peace and security. It would free up vast and much-needed resources for social and economic development. It would advance the rule of law.
China is a main energy consumer and, therefore, is also a big greenhouse gas emitter. We must use energy resources rationally and must conserve. This needs us to adjust our economic structure, transform the mode of development, to make economic development more dependent on progress of science and technology and the quality of the work force.
The specter of climate change threatens worsening natural disasters, rapid urbanization, forced migration, and economic hardship for the most vulnerable. Despite significant global advances, inability to effectively address epidemics and health emergencies still prevail and continuously threaten global health security and economic development.