Biophysical (Real) Economics

Introduction

“The economy” in current terms is the exchange of goods and services measured in dollars or other printed currency and summarized in GDP measurements. This means of measurement is not and has never been intended to represent the full real wealth creation process whether human or natural nor was it ever intended to represent human or societal well-being.

What This Means for Canada

Despite this, currently “the economy” is viewed as a deity which bestows the benefits of prosperity upon all of us. The larger “the economy” is, the better off we all will be. In fact, the economy we worship and measure with the GDP metric is really only the commercial economy – the size of the market for goods and services bought with dollars. “The economy” as we measure it now does not represent the size or the structure of the real wealth creation process. It does not represent the well-being of individuals nor the health of the nation, its environment or its finances. It represents cash flow and nothing more. Cash flow is not a full accounting system and is fatally misleading as dominant indicator.

What Can You Do?

Recognizing the shortcoming and dangers of our current measurement system is necessary to understanding why the goal of endlessly growing consumption is fatal to both individual and national welfare. Measured in printed dollars, “the economy” can appear to be able to grow forever, but represented in physical stocks and flows, the real wealth creation process can only sustain a certain level of output. We have to put the measurement of the commercial economy into perspective with other, more important factors of life and it must be made just one part of the measurement of the real wealth creation process, and not as the driving force behind well-being. “The economy” in current terms is the exchange of goods and services measured in dollars or other printed currency and summarized in GDP measurements. This means of measurement is not and has never been intended to represent the full real wealth creation process whether human or natural nor was it ever intended to represent human or societal well-being.

Unemployment & Job Quality

The unemployment rate in Canada has traditionally been higher than in Europe or the US for a number of reasons.

Aging

Aging is a trend that sees an increase in the proportion of older people in our population and it is a natural trend which will continue until the Canadian population stabilizes.

Resource Scarcity

The overexploitation of natural resources is a tale as old as time, and humans have always exploited the most accessible and richest resources first. The deepest and most fertile soils, the tallest, straightest trees and the most mineral laden ore bodies were the first to be harvested.

Temporary Foreign Workers

Canadians for a Sustainable Society deals mainly with the structural issues that influence our national health. However, the Temporary Foreign Workers Program hits on so many of the misguided policies which are leading the country on a downward spiral that we felt we had to address this program specifically.

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