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The Reinforcing Loops of Consumption, the Economy, and Resource Depletion

Posted May 4, 2022 | Sustainability |
The Reinforcing Loops of Consumption, the Economy, and Resource Depletion
Material desires instigate purchases intended to bolster significance, which fosters increased materialism. Purchases increase GDP, which creates jobs and financial well-being and facilitates more purchases. Increased production to raise GDP uses carbon-based resources and further depletes them. This interdependence has locked society into what psychologists call a “social trap,” in which the pursuit of short-term individual gains leads to a loss for the group as a whole in the long run.
About The Author
Pradipta Chakraborty
Pradipta Chakraborty is Principal Innovation Evangelist for Research & Innovation at Tata Consultancy Services (TCS) with extensive experience in advising global businesses and technology teams on problems at business-IT crossroads, guiding their business and IT transformation journeys and partnering on their innovation initiatives. Working with businesses across industry domains, he has led planning, development, and implementation of IT… Read More
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