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Against Doomsday Scenarios: What Is to Be Done Now?

December 14, 2021

Against Doomsday Scenarios: What Is to Be Done Now?

Fist with windmill

John Bellamy Foster is the editor of Monthly Review and a professor of sociology at the University of Oregon. John Molyneux edits the Irish Marxist Review, is a member of People Before Profit, is coordinator of the Global Ecosocialist Network, and has written widely on Marxism and ecosocialism. Owen McCormack is a longstanding socialist activist. He is a bus driver who has also worked as a parliamentary researcher for People Before Profit, with a special focus on ecology.

This interview took place in early October and first appeared in the November 2021 issue of the Irish Marxist Review under the title “The Planetary Emergency: What Is to Be Done Now?” It has been adapted for publication here.

John Molyneux and Owen McCormack: Given the extreme summer weather and the UN Intergovernmental Panel on Climate Change (IPCC) report, just how bad are things now? What do you believe the time scale is for catastrophe and what do you think that catastrophe will look like? Are things worse than the IPCC report claims? Some, including Michael Mann, have warned against “doomsday scenarios” that might deter people from acting. In your view, are doomsday scenarios the truth that needs to be told?

John Bellamy Foster: We should of course avoid promoting “doomsday scenarios” in the sense of offering a fatalistic worldview. In fact, the environmental movement in general and ecosocialism in particular are all about combating the current trend toward ecological destruction. As UN general secretary António Guterres recently declared with respect to climate change, it is now “code red for humanity.” This is not a doomsday forecast but a call to action.

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The case for contingency planning

September 21, 2021

The case for contingency planning

LONG-ODDS BET OR A PORTFOLIO OF SCENARIOS?

An intelligent investor – as distinct from a gambler – doesn’t put all his or her money on a single counter. He doesn’t stake everything on a single stock, a single sector, a single asset class, a single country or a single currency. The case for portfolio diversification rests on the existence of a multiplicity of possible outcomes, of plausible scenarios which differ from the investor’s ‘central-case’ assumption.

This isn’t a discussion of market theory, even though that’s a fascinating area, and hasn’t lost its relevance, even at a time when markets have become, to a large extent, adjuncts of monetary policy expectation. The concept of ‘value’ hasn’t been lost, merely temporarily mislaid.

Rather, it’s a reflection on the need to prepare for more than one possible outcome. Sayings to this effect run through history, attaining almost the stature of proverbs. “Hope for the best, prepare for the worst” is one example. Others include “strive for peace, but be prepared for war”, and “provide for a rainy day”. There’s a body of thought which has always favoured supplementing hope with preparation.

Dictionaries might not accept the term “mono-scenarial”, but it describes where we are, working to a single scenario, with scant preparedness for any alternative outcome. The orthodox line is that the economy will carry on growing in perpetuity. Obvious problems, such as the deteriorating economics of fossil fuels and the worsening threat to the environment, will be overcome using renewable energy and the alchemy of “technology”, with “stimulus” deployed to smooth out any economic pains of transition.

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Olduvai IV: Courage
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