At present, the human race consumes 125 percent of the Earth’s annual production. Put another way, this is like spending a $125,000 each year when you are only earning $100,000.
Last week, we talked about the United Nations Sustainable Development Goals. In particular, goal #8, economic growth, which sounds good but is a questionable objective.
As countries such as China begin to develop a significant middle class with aspirations to live a more affluent western lifestyle, that 125 percent will increase. Indeed, we would need to consume 500 per cent of the Earth’s annual production if everyone lived a western lifestyle.
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