Revised 2 December 2023

Transitioning from fossil fuels to renewable energy and infrastructure requires a re-assessment of the basis and purpose of our economy. The ultimate purpose of our economy is the well-being of current and future generations. Continued growth in built capital and populations is unnecessary to achieve this. Attempts to continue to grow can only but accelerate the same dire consequences that we currently face. To attain well-being of all generations, both current and future, we need to look after the primary basis of our economy which is natural capital. From now onwards we must be responsible stewards of all natural capital. Well-being follows on by looking after and preserving the primary basis of our economy. 

Figure 1: The Basis and Purpose of our Economy