The fear of the global economical crisis has gripped all the developed nations, and is spreading very fast in the developing nations as well, including India. The scholars and experts of economics are debating about the possible causes, effects and solutions to the problem. They say this problem has done one good thing for sure, that it has brought the world together to make a united effort to solve this crisis.
Whatever are the causes of the problem in economic terms, when we look at the human history, especially the birth of economics through its development to the present day, one thing appears to stand out. In simple words the basic difference between Nature's Economics and the modern market oriented economics separates the humans from the other creatures that are playing their roles in the efficient and most economical ecosystems. The departure from cyclic natural processes of generation, consumption and recycling of every bit of matter and energy involved into the process to the unidirectional human production - distribution - consumption - waste production systems holds the key for such failures. It not only derails the rhythmic recycling that achieves highest efficiency with the available matter and energy, but also sets on the snowball effect by developing systems that work relentlessly to develop newer and newer 'wants' of the 'consumers' demanding for more and more raw material and energy that will very soon, no longer be available on this planet in usable form.
With my limited knowledge of economics, I may not understand this moment how the solutions for the problem can be developed. But I guess it won't be a surprise if the environment itself is again made to pay the cost for the economic restoration. With Australian Government being forced to consider the amendments in the carbon credit scheme, it would be an obvious trend world over to see the conservation takes the back stage and the resources towards betterment of the environment may start freezing.
On the other hand, I feel, as the resources for the development go on shrinking, more and more chunks of landscapes may escape the system of 'development' and would be left to themselves. The stress of the huge human population that would struggle to satisfy their basic needs will always be there on these landscapes. But it could also give an opportunity for the natural processes to rejuvenate. In fact if the Government has the vision and wisdom, this could be a great opportunity to restore our natural capital and carve new sustainable economic policies. Policies that may follow the rules of Nature's Economics and would provide higher 'resilience' to the national economics.
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