Getting Back to Basics

Shoppers are flocking to thrift stores, families with teens are learning how to say “no,” to requests for the latest and shiniest toys, and drivers are discovering the (sometimes dubious) joys of public transportation. But will all this economizing last? Is frugality just another temporary necessity that people will gladly give up when (and if) things return to normal?

The environmental movement isn’t much of a presence these days, even though green living is a buzzword that’s often in the news. When financial survival is a priority, there’s going to be more concern for financial than environmental solutions. This means that green living and frugality aren’t translating into the environmental consciousness of the 70s and 80s. Saving the earth seems far less important than saving ourselves. For the average person, just getting through this economic crisis is about all they can deal with.

On a larger stage, though, this can be a short-sighted mistake that will have eventually have serious consequences. A news report in Wired indicates that investment in green projects is slowing down because money is so tight. “’The general economic slowdown is taking everybody’s eyes off what was an increasing momentum around concerns of climate change and the cost of energy,’ said Paul Maeder, a general partner with venture capital firm Highland Capital Partners.”

The current drop in the cost of oil (which is probably temporary) is also contributing to decreasing interest in long-term energy projects. The danger is that, companies that are developing these projects may well go out of business, just when they are badly needed. It’s happened before, and is one of the reasons why technological advances in energy production have been few and far between over the last few decades.

Taking care of today’s problems may be the top priority, but we also need to keep an eye on the consequences of ignoring long-term problems and solutions. It’s difficult to absorb the idea that, in the long run, saving the earth is a requirement for saving ourselves, but it’s just as important for individuals as it is for corporations, governments, and investors.

Trackback URI | Comments RSS