An economic storm is descending, and for many, the storm will be bad. While the Bush Administration and Congress wrestle with how to bail out Wall Street, and argue about how softly CEOs of failed financial institutions should be allowed to land, average citizens must leap into the new reality without benefit of 24-karat parachutes.
Recently, the Global Footprint Network issued a report stating that by September 23, humanity had consumed all the new resources the planet will produce for the year. For the rest of 2008, we are in the ecological equivalent of deficit spending, drawing down our resource stocks -- in essence, borrowing from the future. Sound familiar? We can't hope to keep to our economic budget if we can't keep to our ecological budget.
Whatever economy emerges from this crisis will need to put less emphasis on "more" stuff and greater emphasis on more of what matters -- like healthy communities, a healthy planet and a higher quality of life. In righting the economic ship, the end game shouldn't be to plug up a broken vessel, but to move to something more seaworthy -- one that sails within both personal and ecological limits.