The Next Trillion Dollars

Posted on Monday, November 26th, 2007 at 2:11 pm by Shay

An interesting commentary in the Christian Science Monitor, and reprinted at CommonDreams, calls for spending the next trillion dollars (equal to the amount we’re likely to spend on the Iraq War) for the good of humanity.

Here’s a sample:

“Let’s allocate another trillion dollars—but this time for the good of all humanity and all species. Let’s do it with the same moral urgency and vision that has made America great at so many critical junctures in history.

There’s an emergency and an opportunity out there that calls for The Next Trillion.

It’s about more than geopolitics and petrodollars. It’s about more than the science of climate change.

It’s about the need for global economic institutions to evolve in response to the social and environmental challenges of our time: growth in population, accelerating technological change, accelerating capital flows, growth in consumption, increasing pollution, widening wealth gaps.”

Tasch argues that the financial returns of the 20th century largely depended upon unsustainable environmental and social trends, and they remain inadequate to move the world’s economies in a bold, new direction.

He argues that we need to invest that trillion dollars in $250 billion chunks in the following areas: clean energy and energy efficiency; carbon sequestration and bioremediation; sustainable food and forests; and, community development.

Tasch, who is chairman of Investors’ Circle, a network that connects patient capital investors with early-stage companies and venture funds that promote sustainability, knows what he’s talking about. As the US emerges from a dark age of fast money and cowboy diplomacy this just may be the economic and social hook upon which to hang our hat.

Or, as Tasch notes, “Slowing money down, bringing it back down to earth, thinking longer term, recapturing money, and redeploying it as an agent of community and bioregional health, creating what some have called “virtuous globalization” or, even, localization – this is the next great work.”

Read the full article here.

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