The grim facts of environmental degradation are causing worldwide economic loss and that means greater poverty and health problems, says Fr Shay Cullen, focusing on the ecological and financial cost of coal, and upon the impact on East Asia. Time and again short term benefits are mostly for the rich while the environmental damage hurts the poor, he says, citing a report commissioned by the G8 and the United Nation's Environmental Programme.
All three main UK political parties now base their economic arguments on a premise which has come to be accepted as truth, but which may be false. The premise is that ‘there is no money left’ and this is used to justify austerity. We don’t want to cut, the argument goes, but there is no money left, so we have to make difficult decisions.
The political economist Ann Pettifor, former head of Jubilee 2000 and now an associate of the New Economics Foundation and policy advisor for Prime Economics, was on BBC Radio 4's Today programme this morning, talking about how to address the Cyprus crisis.