“The problems of living beyond our means are not just environmental, however. To boost our economic output quickly enough, to satisfy the needs of big business, to create more jobs and to provide for the eight million people who are added to the global population every month, we have used an economic model that runs on steroids – and the drug it needs is debt. The mountains of debt we have created in the last 30 years were the cause of the 2008 financial crisis. Because this economic model also rewards the rich more than the poor, the system has resulted in widening inequalities. Global inequality in much of the rich world today is higher than it was in 1820, at the start of the Industrial Revolution. The gap between the rich world and the poor world is also much wider.”
Interview with Graeme Maxton, Seceretary General of the Club of Rome
