The Forum > Article Comments > Stiglitz broadens the horizon > Comments
Stiglitz broadens the horizon : Comments
By Allison Orr, published 8/7/2014Instead, Stiglitz argues that we need new, better, more sophisticated metrics to measure our economies, metrics that consider the real cost and value of things.
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factor, but I overlooked water.
Water is the first, top of the list, critical supply.
However it could not become unavailable or in very short supply everywhere
at the same time. Even coal is not in that situation.
That is what worries me, not immediately for myself but for all our
younger citizens.
The first problem that I see is that some degenerate
madmen have taken over in part of the middle east.
They are the sort that could stop export of oil from that area just to
nark us and there would be nothing we could do about it.
Attacks on terminals and pipelines could reduce world supply by 25%.
Even if control could be imposed in say one month, it could then take
many months to repair.
If Australia could not get any supply from Vietnam, China would
ensure that, and we would be lost in the scramble.
Our economy would collapse and food would be short.
What chance an insurance company would accept the risk ?
Anyway it is an uninsurable risk.
That is what government should be planning for, but they are just
not able to accept the possibility.
I have a connection to the State Emergency Management committee
organisation at a lower level and I have broached this scenario with
them suggesting that a Disaster Plan should be prepared for Police,
SES and Dept Community Services for something like I suggest here,
but I cannot get it pushed up the system.
I could write it myself, but you how it is, "they" have to be able
to say they thought of it.