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Economy | Transition Ottawa
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Transitioning our labour force

When the computer came along, makers of type writers must have briefly wrung their hands Рbefore realizing that of course, they could switch to working with computers. The same is true of our current switch from CO2 emitting fossil fuels to renewable energy. Sure, jobs will be lost in the oil sector, but much work is now needed to build, distribute and sell solar panels and wind turbines. Electricians are needed to install these systems. Renovators are needed to bring homes up to new sustainable standards. We need more triple glaze windows, LED light bulbs and batteries.

Economy about providing needs rather than making money

Economy used to be simply about the ways we exchange goods and services with each other. Now large parts of the economy are about making money – like trading futures, hedge fund traders, currency exchange traders, where money is made through a kind of gambling rather than offering a real service that creates needed products or produce. The amount of money made and lost in these trading schemes are now huge. While the units being traded are digital, the repercussions can rippled into the real economy.

Interest payments is a huge, unmentioned stress. Why does the economy have to grow? Partly because every time money is created out of thin air, interest needs to be paid to the bank. An economy can’t just sustain itself, it needs to sustain plus the bankers share, which can be 5% – 20% depending on the interest rates offered on ones business loan, mortgage, or credit card.

There are other ways of going about exchanging goods and services. Part of thinking about a sustainable world is thinking about a sustainable economic model.