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The Green Recession
Eric Englund
Lew
Rockwell.com
Monday, May 5, 2008
Americans are feeling the pinch of stagflation. Going to
the grocery store and to the gas station leaves consumers
in a state of sticker-shock. Neighbors are losing their homes.
Retailers, restaurants, and countless other businesses are
closing their doors. Mass layoffs are being announced with
alarming frequency. As inflation and joblessness spiral upward,
the economy plunges to greater depths. Opinions abound as
to why America’s economic ship is taking on water. Just
as certainly as John McCain has personally witnessed global
warming, I have ascertained the cause of America’s economic
malaise. Indeed, in a moment of deep insight, I have discovered
that our economy is sinking in direct proportion to the rise
of the environmental movement. The greener Americans become,
the further our economy falls.
Please understand that I have written this essay holding
myself to the same standards as eco-alarmist Stephen Schneider.
In the spirit of scaring humanity straight into the clutches
of the green movement, Dr. Schneider (a Stanford University
Professor) stated the following in the October 1989 issue
of Discover magazine:
To do this, we need to get some broad-based
support, to capture the public’s imagination. That,
of course, entails getting loads of media coverage. So we
have to offer up scary scenarios, make simplified, dramatic
statements, and make little mention of any doubts we may have.
This "double ethical bind" we frequently find ourselves
in cannot be solved by any formula. Each of us has to decide
what the right balance is between being effective and being
honest.
To say the least, the green movement is presently receiving
loads of media coverage. Day after day anthropogenic global
warming is mentioned on TV news, PBS documentaries, talk shows,
etc. Fortune 500 companies are paying for expensive television
ads declaring that they have gone green and are fighting to
protect Mother Earth. We are being harangued to conserve this,
recycle that, and boycott something or other. Americans have
been so saturated with environmentalist gobbledygook, that
green has become mainstream.
(Article continues below)
If one person epitomizes the rise of the green movement,
it is Al Gore. He is the environmental movement’s self-appointed
ambassador who has brought a high degree of legitimacy to
the green movement. Mr. Gore has accomplished this by winning,
in 2007, a Nobel Peace Prize and an Academy Award for his
"documentary" An Inconvenient Truth.
Today, thanks to Al Gore, greenies are riding high. For it
is they who are the anointed ones who have the answers to
prevent hurricanes, tornadoes, typhoons, soil erosion, flooding,
osteoporosis, indigestion, migraine headaches, and shark attacks.
(Of course, their real objective is to eradicate humanity,
but that is an issue I have covered previously). And, true
to Stephen Schneider’s "vision", the green
movement’s success has been built upon a pack of lies.
For those who want an antidote to the gibberish being spewed
by greenies, I highly recommend The Politically Incorrect
Guide to Global Warming and Environmentalism by Christopher
C. Horner. As for attempting to understand the natural fluctuations
pertaining to Earth’s climate, a terrific book to read
is The Chilling Stars: A New Theory of Climate Change by Henrik
Svensmark and Nigel Calder. I also recommend this article
about the distinct possibility of global cooling. But I digress.
So let’s get back to the robust correlation between
the rise of the green movement and the decline of the American
economy. Greenies, and their political minions, are constantly
bossing Americans around. Watch out for having too large of
a carbon footprint. Did that bottled water come from Fiji?
Recycle your paper, your plastic, your metals and don’t
you dare mix any of these materials in the wrong recycling
bin. Don’t water your lawn, get a low-flow toilet, and
for gosh sakes replace your incandescent light bulbs with
fluorescent ones. Are you driving an SUV? Shame on you. Think
globally, but act locally. Blah, blah, blah.
An enormous amount of physical and mental energy is expended
to make the green busybodies happy. None of this "work"
is productive. Sure there are those who feel a sense of fulfillment
by following these mind-numbing edicts from greenies –
as one feels more connected to nature and to a worthy cause
(I suppose). I have little doubt that green sympathizers are
the same people who celebrate the income tax so that money
can be forcibly taken from bad people and transferred to the
good downtrodden proletariat. Hurray for April 15th! All in
all, going green is a monumental waste of time and energy.
It is, consequently, a drag on our economy and a proximate
cause of economic decline.
MBAs, across the country, have been indoctrinated with the
claptrap that just about anybody or anything can be a stakeholder
in a business. It is passé to believe that simply treating
employees well and pleasing customers are the keys to business
success. No, it is now chic, and politically correct, to integrate
varying degrees of environmentalism into a company’s
business plan. For Mother Earth herself is a stakeholder in
every business. The intrinsic value of nature must be acknowledged
and celebrated in order for a business plan to be credible.
By embracing such twaddle, it is no wonder once-great American
companies are slipping into mediocrity or worse. MBAs, from
top business schools, are part of the problem, not the solution.
Recently, some of Wall Street’s mightiest companies
– such as Citigroup, Lehman Brothers, Merrill Lynch,
and Wachovia Corporation – have had to go begging for
money to repair damaged balance sheets. Due to blatant numbskullery,
these titans of finance have lost focus and poisoned their
respective corporate cultures with standards that are impossible
to meet. After all, how does one perform as a stockbroker,
on an environmentally-sustainable basis, so that the stockbroker
may protect the global ecosystem? How does a loan officer
see to it that a loan is being originated in an environmentally-friendly
manner? How can a financial company, or any company for that
matter, really battle climate change? Wouldn’t this
entail controlling the Sun’s output? Good luck with
that. Business planning, peppered with green ideology, apparently
causes companywide brain damage. Thus, it is no wonder that
these companies have reported staggering losses.
In each company’s own words, here are their respective
declarations of greenness. Read it and weep (or laugh). I
did a little of both.
Citigroup: At Citi, we believe that working to promote
environmental and social sustainability is good business
practice. As a global corporate citizen, we view sustainability
issues from both a risk and an opportunity perspective.
We analyze the potential impacts of our business activities
and take action to reduce environmental risk and impact.
We also look for opportunities to make sustainable investments
and develop products and services with positive environmental
and social impacts.
Lehman Brothers: As a global corporate citizen, Lehman
Brothers is committed to addressing the challenges of climate
change and other environmental issues which affect our employees,
clients, and shareholders alike. It is critical that we
continue to develop initiatives to focus on these challenges
facing our environment now and in the future.
Merrill Lynch: At Merrill Lynch, a longstanding
commitment to the fundamental principles of corporate social
responsibility underpins our recognition that protecting our
global ecosystem is of vital importance to us as a commercial
enterprise as well as a good corporate citizen.
We are strongly committed to reducing unnecessary or wasteful
exploitation of scarce nonrenewable resources. And we are
committed to providing sound investment analysis, guidance
and capital to enterprises dedicated to promoting environmentally
responsible and sustainable economic development.
Wachovia Corporation: Wachovia is committed
to being the best, most trusted and admired financial services
company. We carefully consider the impact of our business
activities on shareholders, customers, communities, employees,
and the environment. We leverage our social, economic, and
human assets to deliver business results in a way that supports
fair business practices and sustainability. Our Corporate
Social Responsibility (CSR) Report highlights our social responsibility
commitment and values in action.
What a load of tripe. Multiply these declarations of greenness
by countless companies, and it becomes obvious that American
businesses have lost their way. It would be hilarious to compel
corporate executives to define exactly what "sustainability"
means and how they can measure their respective contributions
to environmental sustainability. By diverting precious capital
and human resources toward nebulous objectives such as eco-sustainable
business practices, innumerable companies are damaging themselves
and the economy as a whole.
As Wilfred Beckerman stated in his magnificent book A Poverty
of Reason: Sustainable Development and Economic Growth:
If, therefore, the increasing popularity of
the concept of sustainable development cannot be explained
by its intellectual strength, its growing influence on international
and national policy might perhaps be better explained by reference
to sociological phenomena, such as the public’s appetite
for dramatic environmental scare stories or politicians’
tendency to jump on media-supported bandwagons. Such phenomena
also fit easily into what economists describe as rent-seeking
behavior of various agents in society: each agent seeks to
maximize its market power by means other than socially valuable
methods of increasing productive efficiency and the like.
To be sure, green companies may as well rewrite their respective
business plans in order to concentrate upon searching for,
and capturing, griffins and unicorns.
Without a doubt, by using the green movement’s "correlation
equals causation" methodology, I have proven that America’s
current economic downturn is directly correlated with the
meteoric rise of environmentalism and its damaging effects
on business management (just as certainly as global warming
brought about the destruction of New Orleans). Using this
standard, set by greenies themselves, feel free to blame environmentalists
for what may be unfolding as the United States’ next
Great Depression. They’ve earned such opprobrium.
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