Responding to these problems will, international bodies project,require a virtually unprecedented buildout of infrastructure, from hardened municipal water and sewage systems, to urban afforestation, to renewable energy systems. This massive infrastructural program coincides with global economic conditions marked by the lingering ideological stranglehold of austerity, unprecedented levels of capital concentration, and now, myriad uncertainties produced by COVID-19. Cities across the world are facing a double-barreled existential problem: how to adapt to climate change and how to pay for it. Over the next thirty years, more than 570 coastal cities are poised to face frequent catastrophic flooding owing to sea level rise and more intense storms, while as many as 3.2 billion urban residents may run out of water by 2050. Other looming crises include soaring urban temperatures, the urgent need to transition away from fossil-fueled energy and transport systems, and plummeting rates of local biodiversity.
In response to the twin problems of resilient infrastructure needs and public fiscal constraints, the World Bank and an array of partner institutions from the Rockefeller Foundation to USAID have been ramping up programs to facilitate private investment in urban resilience. From a baseline of $10 billion across 77 cities in 2016, the World Bank aims to ‘catalyze’ investment of more than $500 billion into urban resilience projects across 500 cities by 2025. Read More »
Brazil faces boiling social unrest. An institutional crisis breeds entropy into an already stressed social system fraught with inequality, increasing poverty and an escalating number of deaths from coronavirus.
A few days ago, despite another daily mass body count, the country stopped to watch the footage of a 22nd April meeting with President Bolsonaro’s cabinet. The tape release was commanded by a Supreme Court judge in an inquiry into an alleged interference by Bolsonaro in the Brazilian federal policy to protect one of his sons, currently under investigation.
The footage is horrendous to the democratic sensitivities and bitter to any political or civic taste. But I would like to point out one single intervention in the meeting that speaks to the country’s entrapment into its own version of ‘fail-forward’ neoliberalism. It reveals a government fixated in dismantling any piece of State regulation and privatizing any available company owned by the State.
Philip Mirowski has argued in his 2013 book Never Let a Serious Crisis go to waste that cognitive dissonance boosts neoliberal thought to the point that no countervailing evidence can shake its disciples’ convictions of its ultimate truth. No matter how apocalyptical a crisis may seem, there is always reason to blame government intervention for all evils plaguing the Earth.Read More »
If reducing greenhouse emissions had economic benefits then we would do it anyway without new policy.
The statement above is used by economists to argue against the introduction of policies to reduce greenhouse gas emissions on the basis that the costs would outweigh the benefits of reducing climate change. It is part of a wider narrative that regulatory policy can only lead to economic costs. However, the statement is perhaps one of the most perverse conclusions from neoclassical economics. It depends on a raft of assumptions that run contrary to real-world experience. Further, as discussed below, if just one assumption is taken out, the conclusion changes.
Sadly, economists and (in particular) economic modellers, have played a key role in turning this fallacy into accepted reality. They have done this by using simple optimisation-based approaches that make strong assumptions about human behaviour. Often the modellers do not critically question or even fully understand these assumptions. Read More »
The newest book by Giorgos Kallis, one of the most prolific degrowth advocates is entitled Limits: Why Malthus Was Wrong and Why Environmentalists Should Care. It is a short and accessible read which contains some important and unconventional arguments. In what follows, I will first briefly summarize the core arguments of the book, which promises to provoke important discussions on the matter of limits and subjects. Then I will reflect on the fuzziness of the primarily cultural conceptualization of capitalism, and argue that neither self-limitation nor degrowth qualifies as a mode of production, such that they could constitute an alternative to capitalism.Read More »
The Green New Deal resolution by Alexandria Ocasio-Cortez and Ed Markey sparked an immense amount of discussion on all layers of political discourse, national and international. The way Ocasio-Cortez, Sanders and many others phrase the problem in the broader context of social, economic, and environmental grievances caused by capitalism is crucial for setting the terms of debate and struggle. This opens up space the left can use to address such issues in a systematic way rather than being content with symptomal healing. In fact, countlesscontributionshavealreadybeenmadeon theoretical and tactical grounds. In this piece, we build on those contributions, and unpack the dynamics inherent to the capitalist system that would need to be addressed in the ongoing discussions. We also shed light on the limitations of a market-based and growth-centered approach to tackling climate destabilization, while offering other domains of political intervention such as property relations and demarketization of subsistence.Read More »