Economics’ failure over destruction of nature presents ‘extreme risks’
New measures of success needed to avoid catastrophic breakdown, landmark review finds
The world is being put at “extreme risk” by the failure of economics to take account of the rapid depletion of the natural world and needs to find new measures of success to avoid a catastrophic breakdown, a landmark review has concluded.
Prosperity was coming at a “devastating cost” to the ecosystems that provide humanity with food, water and clean air, said Prof Sir Partha Dasgupta, the Cambridge University economist who conducted the review. Radical global changes to production, consumption, finance and education were urgently needed, he said.