A problem of definitions in ecomimcs that create conflicts

A problem of definitions

As we are all reminded of inflation and its various manifestations, perhaps we also need to rethink some of them.  The reason is that in economics, inflation is all about a linear scale. Sustainable development does not really map very well to this scale. In eco-systems, it is about balance.  Because of the way we define growth - we aim for inflation and need to control it.  However, this scale thinking then frames how we would perceive sustainability as the framing sets these boundaries.   What happens if we change it round?


What we have today in terms of the definition that creates conflicts and therefore has to ask, is this useful for a sustainable future as we are trying to fit a square peg in a round hole.

Economics

Definition

Perceptions from the Sustainability community and long term impact

Hyperinflation

Hyperinflation is a period of fast-rising inflation; 

an Increase in prices drives for more efficiency to control pricing. Use of scale to create damp effects.  Use global supply to counter effects.

Rapid and irreparable damage

Inflation

Inflation is the rate at which the overall level of prices for various goods and services in an economy rises over a period of time.

Drives growth which is an increase in the amount of goods and services produced per head of the population over a period of time.

Significant damage and changes to eco-systems and habitat

Stagnation

Stagflation is characterised by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e., inflation). Stagflation can be alternatively defined as a period of inflation combined with a decline in the gross domestic product (GDP).

Unstable balance but repairable damage possible 

Recession/ deflation

Deflation is when prices drop significantly due to too large a money supply or a slump in consumer spending; lower costs mean companies earn less and may institute layoffs.

Stable and sustainable

Contraction

Contraction is a phase of the business cycle in which the economy is in decline. A contraction generally occurs after the business cycle peaks before it becomes a trough.

Expansion of the ecosystem and improving habitats



Perhaps what we need/ want if we want to remove the tensions from the ideals of growth and have a sustainable future.


Sustainable development


Economics

Unstable balance and damage creates change 


Rapid growth

Out of balance, but repairable damage possible 


Unco-ordinated growth

Stable and sustainable

Requires a lot of work and investment into projects to maintain stability and sustainability.   Projects are long-term and vast.  Requires global accord and loss of intra-Varlas protections.  No sovereign states are needed as must hold everyone accountable.

Growth but without intervention would not be sustainable

Expansion of ecosystem and improving habitats

Goldilocks zone - improving quality of life and lifestyles but not at the expense of reducing the habitual area on the earth. 

Slow growth in terms of purity of economics and GDP measurements.

Stable and sustainable

Requires a lot of work and investment into projects to maintain stability and sustainability.   Projects are long-term and vast.  Requires global accord and loss of intra-Varlas protections.  No sovereign states are needed as must hold everyone accountable.

Shrinking and without intervention would not be sustainable

Out of balance, but repairable damage possible 


Unco-ordinated decline

Unstable balance and damage creates change 


Rapid decline