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Global economy must stop pandering to ‘frivolous desires of ultra-rich’, says UN expert (www.theguardian.com)

submitted 1 day ago by HellsBelle@sh.itjust.works to c/world@lemmy.world

33 comments fedilink hide all child comments

The global economy must be reordered to ensure it serves ordinary people around the world rather than the “frivolous and destructive demands of the ultra-rich”, according to a leading UN figure.

Olivier De Schutter, the UN special rapporteur on extreme poverty and human rights, says politicians must stop prioritising “socially and ecologically destructive growth” that only increases the profits – and serves the consumption demands – of the world’s richest individuals and corporations.

Instead, to tackle the interwoven crises of rising inequality, ecological collapse and resurgent far-right politics, a new economic agenda is needed.

“The scarce resources we have should be used to prioritise the basic needs of people in poverty and to create what is of societal value rather than serve the frivolous desires of the ultra-rich.”

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[–] TheDemonBuer@lemmy.world 7 points 1 day ago* (last edited 1 day ago)

The practical incentives are there already, but far too many people are too greedy and shortsighted to recognize them. There are long term negative consequences to prioritizing short term individual gains over long term, sustainable prosperity for all. And achieving that sustainable prosperity does not require people to replace self interest with altruism, it requires that people to adopt a more enlightened, forward looking self interest. It's getting people to understand that overindulgence and a zero sum mentality today, without thought for the consequences tomorrow is not self interest, it's self destruction.

If that can't work then civilization is fucked.