Category: Threats

The other day, Luigi suggested investing in watermelons now that the credit crunch has made banks go bust and stocks worthless. Hold on. Maybe the watermelons will also go belly up, as the BBC reports that we are also heading for an eco-crunch. This unwelcome news is based on The Living Planet Report, produced by the WWF, the Zoological Society of London and the Global Footprint Network. “The global footprint exceeded the earth’s biocapacity by 25% in 2003, which meant that the Earth could no longer keep up with the demands being placed upon it.”

I am torn. Yes, we are depleting our resources. Yes, it is scary. But this is also déjà vu all over again. The predictions made in Limits to Growth, The Population Bomb, and many other gloomy predictions from the 1960-70s, have turned out to be incorrect. Human creativity has outsmarted perceived physical limits; but there are real physical limits too…. Have we really reached them?

In The Population Bomb, Paul Ehrlich predicted that in the 1970s and 1980s hundreds of millions of people would starve to death. Not a strange prediction given the famines that occurred in the years before the book was written. But it never happened; we got the Green Revolution instead.

Food shortages, or at least high food prices, were all of a sudden back on the front pages this year. Is the end near then? Not yet. Now that speculators are retreating, and farmers have responded to higher prices by producing more (25% more wheat produced in Europe! Perhaps largely because the ‘set-aside’ subsidized fallowing policy expired?). Food prices are tumbling again. For how long?