5 Strategies for a Better Future

The strategies described in the article serves as an inspiration for how we could enable real societal change.

Strategy 1 - Governance:

We often say that power corrupts, but perhaps we've got it backwards. Maybe power is simply a magnet for bad people, rather than a force that turns good people bad. It's not that power corrupts, but that it attracts those who are already corruptible. People who pursue power are not random. Certain types of people crave it and try to seize it for themselves. This creates a "self-selection bias." In other words, people who seek power are not randomly chosen, but have certain traits that make them more likely to want power. We need to pay more attention to why corruptible people seek power, instead of just assuming that power corrupts.

Once we understand this, we can start to take action and change the system. Just as Margaret Heffernan argues in her TED Talk "Super Chickens," we have built a society that values unhealthy traits in power-hungry individuals. Brian Klaas writes that the design of our system is crucial to ensure that it attracts and promotes the right people to positions of power.

To change the system, we can implement these simple rules for governing companies and politics:

1. Focus on proactive recruitment for candidate selection, rather than self-selection. This would benefit women, minorities, and those who hold values that are often excluded from positions of power today. It would enable a more fair and just way to govern society and companies.
2. Create a randomly selected group of people or employees who represent the population and have them involved in the decision-making process. They can provide oversight of politicians and management, and help us avoid the pitfalls of having power-hungry people in charge. By taking power, money, and the drive for reelection out of the process, we can design a system that selects for traits that are correlated with delivering public service.

We need to change the way we select our leaders. By doing so, we can create a system that attracts and promotes the right people to positions of power, and enable a better world.

Strategy 2 - Redistributing wealth and reducing emissions:

There's a quick and effective way to reduce emissions: we need to pass Robin Hood laws. Shockingly, just 100 companies are responsible for 71% of global emissions. To make them pay for the harm they're causing, we should tax these companies and use most of the money to help communities in the global south. This would ensure a fair and equitable transition to a cleaner future. But we need to do more than that.

To succeed, the transition must be based on decolonial policies that allow the global south to thrive. Every year, the global north takes $2.2 trillion worth of value from the global south. This means that for every dollar we invest or give in aid, they lose $30. In other words, the global south pays for the development of the global north. To truly reduce emissions, we must decolonize. If we pass laws like this immediately, we can achieve immediate reductions in emissions and improve the lives of the people who need it most.

Strategy 3 - Implementation of degrowth policies:

A challenge in achieving both poverty reduction and decarbonization is that economic growth, which is often used to improve social development, usually results in negative environmental impacts such as increased greenhouse gas emissions. To make economic growth sustainable, it has to be disconnected from its environmental impact. The ultimate goal is to achieve absolute decoupling, where the environmental impact of future growth is negligible.

The IPAT formula demonstrates the potential impact of decoupling efforts.

I = A x P x T

It states that the total environmental impact (I) equals the product of population (P), affluence (A), and environmental impact per unit of product/service consumed (T). The only practical way to reduce the total environmental impact is to focus on T, which means minimizing the environmental impact per unit of product/service consumed. However, this can create a rebound effect where increased efficiency leads to increased consumption, thereby increasing the total environmental impact.

The IPAT formula shows that consumption is driven by a culture of consumption and an unequal world. The wealthiest 20% of the world's population account for 80% of consumption, while the poorest 20% account for only 1%. This means that developed countries must embrace economic policies that prioritize degrowth and promote resource and energy conservation. Developing countries can then use these resources to meet their needs.

To make degrowth policies effective, developed countries must implement immediate policies, such as:

1. Banning unnecessary and harmful consumption, such as planned obsolescence, domestic flights, fast fashion, SUVs, and other non-essential items.
2. Rationing essential items, such as meat consumption, car ownership, consumer credit, and advertising.
3. Taxing externalities related to the nine planetary boundaries to address urgent environmental destruction caused by our economic system.

This approach would require developed nations to redefine social success and prioritize reducing resource and energy demands. Developing nations can then use these resources to meet their people's needs and overcome poverty.

Strategy 4 - Holistic policy implementation?

When implementing wealth distribution and degrowth policies, it's crucial to ensure that they don't result in increased emissions and inequality. That's why it's important to enact holistic policies that promote reducing emissions, reducing inequality, and increasing well-being.

One example of a holistic policy is Universal Basic Income (UBI). UBI aligns with the three goals above by providing a safety net for individuals transitioning away from environmentally damaging work, reducing pressure to pursue endless economic growth, and enabling governments to support environmentally regenerative practices. UBI also enhances well-being without increasing inequality.

Another example is a four-day workweek. A study from the UK found that reducing work hours by 10% was associated with an 8.6% reduction in carbon footprint, while also providing benefits to employees, such as reduced burnout, stress, and increased job satisfaction. The policy promotes more time for individuals to pursue activities that benefit their health and well-being, such as exercise, socializing, and spending time with family.

Other necessary policies include increasing community living, implementing public transport acts, adopting shared equity models, promoting community land trusts, non-for-profit privatization, and setting maximum income caps. By implementing holistic policies, we can ensure a society that benefits both people and the planet.

Strategy 5 - Transitioning from a GDP based economy to a new economic system:

To create a better society, we need to shift towards a new economic system that values people and the planet over profits and GDP growth. This requires adopting policies that promote equity, protect the environment, and build resilient communities, similar to the ones described above. We should prioritize investment in renewable energy, sustainable infrastructure, and support cooperatives and community-based enterprises.

In addition, we must shift our focus from solely measuring progress through monetary indicators to more holistic measures that consider social and environmental well-being. This requires recognizing that the economy is embedded within society and the environment, and that economic decisions have far-reaching impacts.

To achieve this, we need to internalize externalities and stop privatizing benefits while socializing losses. Embracing a new economic system will create a more equitable, sustainable, and resilient society that supports the well-being of all members and ensures a healthy planet for future generations. Our goal should be to build a steady-state economy that harmonizes with nature, where decisions are made together, and wealth is equitably shared to prosper without growth.