Intergenerational Equality
Are we facing issues of intergenerational inequality ? Over the last few decades, to what extent has an artificially high standard of living and accumulation of capital and assets been enabled by the leveraging of natural resources at unsustainable levels and the creation of growth fed economic instruments ?
When viewed objectively it is apparent that the levels of consumption experienced cannot be supported by the environmental infrastructure. It is estimated that we started consuming the ‘capital’ of our natural resources in the eighties, and since then have been depleting the capital or ‘seed’ stock. Even in economics, common sense dictates that using capital to fund operating costs is going to end badly.
It would appear that many of our natural environmental (carbon dioxide, nitrogen, water, phosphorous etc) and artificial (monetary, property etc) cycles have become dynamically unstable – now tending towards greater imbalance of their accord – no longer requiring external destabilising pressures to fail.
In most regions natural resources require intervention and energy investment to render them suitable for consumption. Water requires treatment and food requires fossil fuel intensive farming techniques and forest / carbon sinks. Extensive use of pesticides and fertilisers, often with significant production carbon footprints of their own, lead to the degradation of the biotic carrying capacity of waterways through eutrophication.
Metaphorically we are seeing the accumulation of unpaid bills of previous generation’s unsustainable actions. Water, food, air, shelter and security, the basic tenets of life quality, will require more energy and more business involvement to provide. A burden of cost that will be borne by the young and the to-come.
The intergenerational transfer of burden has had the further effect that assets, such as property, manufacturing mechanisms and commercial entities, would previously have been more financially attainable with the clean up and servicing of the debts accrued left to those who are now largely excluded from the markets.
It is very likely that a mindset of disengagement from the system would emerge from today’s youth. Surely there is little motivation for each generation to work harder than the previous for less reward. Asking for less, living lighter and prioritising of social, rather than consumptive behaviour, would appear a better choice.
The emergence of a cultural choices such as tiny houses, communal living and less formal work commitment would reduce the value of the established capital entities. Property and commercial interests only have value when there is demand.