.. In 2015 a group of billionaires announced amid much fanfare that they’d be investing a few globs of their fortunes in clean energy research, and the world was all: “Hooray for billionaires!” But two days
Embarrassment of Riches By George Monbiot ….. For the sake of life on Earth, we should set an upper limit on the money any person can amass.
A few weeks ago, I received a letter from a worker at a British private airport. “I see things that really shouldn’t be happening in 2019,” he wrote. Every day he sees Global 7000 jets, Gulfstream 650s and even Boeing 737s take off from the airport carrying a single passenger, mostly flying to Russia and the US. The private Boeing 737s, built to take 174 seats, are filled at the airport with around 32,000 litres of fuel. That’s as much fossil energy as a small African town might use in a year.Where are these single passengers going? Perhaps to visit one of their superhomes, constructed and run at vast environmental cost, or to take a trip on their superyacht, which might burn 500 litres of diesel per hour just ticking over, and is built and furnished with rare materials, extracted at the expense of stunning places. continues below
Eat the Rich? How Offshore Capital Now Rules the World .. Today’s super-rich are the most privileged and powerful group of people in history. If you’re a billionaire, you can even decide an election by funneling a little bit of your money into the race. You can choose to pay 0% tax. You can sway public opinion by buying up media outlets, and by using think […]
see also: Direct Action beats Pleading: Green Anticapitalist Front/
Perhaps we shouldn’t be surprised to learn that when Google convened a meeting of the rich and famous at the Verdura resort in Sicily this July to discuss climate breakdown, its delegates arrived in 114 private jets and a fleet of megayachts, and drove around the island in supercars. Even when they mean well, the ultrarich cannot help trashing the living.
A series of research papers shows that income is by far the most important determinant of environmental impact. It doesn’t matter how green you think you are. If you have surplus money, you spend it. The only form of consumption that’s clearly and positively correlated with good environmental intentions is diet: people who see themselves as green tend to eat less meat and more organic vegetables. But attitudes have little bearing on the amount of transport fuel, home energy and other materials you consume. Money conquers all. continues below
Growing inequality in the United States shows that the game is rigged. …..Last month, Bloomberg reported that Jeff Bezos, the founder of Amazon and owner of the Washington Post, has accumulated a fortune worth $150 billion. That is the biggest nominal amount in modern history, and extraordinary any way you slice it. Bezos is the world’s lone hectobillionaire. He is worth what the average American family is, nearly two million times over. He has about 50 percent more money than Bill Gates, twice as much as Mark Zuckerberg, 50 times as much as Oprah, and perhaps 100 times as much as President Trump. (Who knows!) He has gotten $50 billion richer in less than a year. He needs to spend roughly $28 million a day just to keep from accumulating more wealth.
The disastrous effects of spending power are compounded by the psychological impacts of being wealthy. Plenty of studies show that the richer you are, the less you are able to connect with other people. Wealth suppresses empathy. One paper reveals that drivers in expensive cars are less likely to stop for people using pedestrian crossings than drivers in cheap cars.
Another revealed that rich people were less able than poorer people to feel compassion towards children with cancer. Though they are disproportionately responsible for our environmental crises, the rich will be hurt least and last by planetary disaster, while the poor are hurt first and worst. The richer people are, the research suggests, the less such knowledge is likely to trouble them. Another issue is that wealth limits the perspectives of even the best-intentioned people. This week Bill Gates argued in an interview with the Financial Times that divesting (ditching stocks) from fossil fuels is a waste of time. It would be better, he claimed, to pour money into disruptive new technologies with lower emissions.
World’s poor get less than 1 cent a day for climate change: Oxfam World’s poorest communities have done the least to cause climate change, but end up paying for it, says charity.
Of course we need new technologies. But he has missed the crucial point: in seeking to prevent climate breakdown, what counts is not what you do but what you stop doing. It doesn’t matter how many solar panels you install if you don’t simultaneously shut down coal and gas burners. Unless existing fossil fuel plants are retired before the end of their lives, and all exploration and development of new fossil fuels reserves is cancelled, there is little chance of preventing more than 1.5°C of global heating. continues below
see also: US Millionaires Pass $1.500,000,000,000 Tax Cut for Rich Every year wealth and power are concentrated in fewer and fewer hands.. HOW CAN WE STOP THIS MADNESS NOW? ‘Welfare for the Wealthy’: 227 Congressmen Pass $1.5 Trillion Tax Cut for Corporations and the Rich “It’s immoral that many hardworking families will pay a higher tax bill or lose access to critical services like healthcare […]
But this requires structural change, which involves political intervention as well as technological innovation: anathema to Silicon Valley billionaires. It demands an acknowledgement that money is not a magic wand that makes all the bad stuff go away. On Friday, I’ll be joining the global climate strike, in which adults will stand with the young people whose call to action has resonated around the world. As a freelancer, I’ve been wondering who I’m striking against. Myself? Yes: one aspect of myself, at least. Perhaps the most radical thing we can now do is to limit our material aspirations. The assumption on which governments and economists operate is that everyone strives to maximise their wealth. If we succeed in this task, we inevitably demolish our life support systems. Were the poor to live like the rich, and the rich to live like the oligarchs, we would destroy everything. The continued pursuit of wealth, in a world that has enough already (albeit very poorly distributed) is a formula for mass destitution. continues below
see also: The US military is a bigger polluter than as many as 140 countries …The US military is one of the largest polluters in history, consuming more liquid fuels and emitting more climate-changing gases than most medium-sized countries. Its carbon bootprint is enormous. Like corporate supply chains, it relies upon an extensive global network of container ( … )
see also: climate change?.. try Catastrophic Climate Breakdown!
A meaningful strike in defence of the living world is, in part, a strike against the desire to raise our incomes and accumulate wealth: a desire shaped, more than we are probably aware, by dominant social and economic narratives. I see myself as striking in support of a radical and disturbing concept: Enough. Individually and collectively, it is time to decide what enough looks like, and how to know when we’ve achieved it.
Left, Center and Right: We’re All in Denial About Climate Change .. If you really believe that the planet is becoming uninhabitable, if you think you are about to die, you don’t march peacefully through the streets holding signs and chanting slogans begging the corrupt scoundrels who haven’t done a damn thing for decades to wake up and do something. You identify the politicians and corporate leaders who are killing us, you track them down and you use whatever force is necessary to make them stop. Nothing less than regime change stands a chance of doing the job.
There’s a name for this approach, coined by the Belgian philosopher Ingrid Robeyns: limitarianism. Robeyns argues that there should be an upper limit to the amount of income and wealth a person can amass. Just as we recognise a poverty line, below which no one should fall, we should recognise a riches line, above which no one should rise. 
This call for a levelling down is perhaps the most blasphemous idea in contemporary discourse but her arguments are sound. Surplus money allows some people to exercise inordinate power over others, in the workplace, in politics, and above all in the capture, use and destruction of natural wealth. If everyone is to flourish, we cannot afford the rich. Nor can we afford our own aspirations, that the culture of wealth maximisation encourages. The grim truth is that the rich are able to live as they do only because others are poor: there is neither the physical nor ecological space for everyone to pursue private luxury. Instead we should strive for private sufficiency, public luxury. Life on earth depends on moderation.
shared with thanks from www.monbiot.com (inserts and illustrations added.)
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