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Property rights & resource management

Property rights & resource management. ASPO conference 2003, Paris Dr Paul E. Metz INTEGeR… consult, NL . The equitable allocation – per capita equal – of environmental user rights. a conditio–sine–qua–non for fairness, human rights and sustainable globalisation

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Property rights & resource management

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  1. Property rights &resource management ASPO conference 2003, Paris Dr Paul E. Metz INTEGeR… consult, NL

  2. The equitable allocation – per capita equal – of environmental user rights a conditio–sine–qua–non for fairness, human rights and sustainable globalisation creates ownership, which brings stewardship and a self-interest to conserve this capital

  3. The 3 economic factors • Natural capital Nature Planet • Human capital Labour People • Financial capital Money Profit Scarcity ->prices ->substitution INTEGeR... consult - for ASPO - May 2003 Paris

  4. Who owns Nature ? • Theocracy – God, but who takes care ? • Feudalism – the King or Sheik • Oligarchy – an Elite of friends of King • Socialism – States on behalf of citizens • Liberalism – Citizens have equal rights Best fit for democracy & free market ? INTEGeR... consult - for ASPO - May 2003 Paris

  5. Natural capital • Natural resources • Finite reserves, stocks, ‘trees’ • Traditional ‘hard’ commodities – tonnes • Environmental resources • Renewable flows, harvests, ‘fruits’ • New ‘soft’ commodities – certificates, money-like INTEGeR... consult - for ASPO - May 2003 Paris

  6. Oil and air comparable ? • O I L • geography, sovereignty simple • global common NO (oceans ?) • A I R • Chief Seattle: How can man own the air ? • global common YES • AIR = supranational natural resource – UN role INTEGeR... consult - for ASPO - May 2003 Paris

  7. How to control environmental resources • Ethics – “voluntarily”, “Type 2 partnerships” • Legal regulation – legal standards • Fiscal regulation – greentaxes for State • Resource trade regulation – cap on use, allocate/auction/give & traderesource/emission allowances – benefits … ? INTEGeR... consult - for ASPO - May 2003 Paris

  8. Origin of financial capital • Savings from income - earn enough ? • Heritage - “grandfathering” • Loan from friends - rich friends ? • Loan from a bank - have collateral ? INTEGeR... consult - for ASPO - May 2003 Paris

  9. “Alternative” collaterals • Thomas Paine 1700 society • social rent – basic income • Henry George 1900 collective land • land rent – basic income • Amartya Sen 1980 society • community - non-income social benefits • Mohamed Yunus 1980 social group • micro credit - loans for “have-nots” – temporary • Governor of Alaska 1980 oil & gas rights • Permanent Fund - annual cheque for each citizen – forever • Hernando de Souza 1990 individual land rights • ‘normal’ credit - new land titles • Anil Agarwal c.s. 1990 user rights of nature • - Earth dividend - for each citizen – forever – worldwide INTEGeR... consult - for ASPO - May 2003 Paris

  10. Creation of Wealth • Citizens need access to capital • Collateral needed ? Natural resources ! • Spreads capitalism democratically : Bush “the oil belongs to the people of Iraq” • Kyoto until 2012 : grandfathered emission quota –> without Dev Countries - USA out • Kyoto after 2012 : equity-based, attracts Dev Countries -> USA will follow .... INTEGeR... consult - for ASPO - May 2003 Paris

  11. Earth Dividend • Only states canorganise “the economy” • Privatise exploitationglobal commons within sustainable, dynamic limits • Private companies compete on ‘good’ efficiency, not on ‘bad’ speculation • All citizens areshareholders – cannot sell their share, but are free to go to best buyer for their annual ‘coupon’ INTEGeR... consult - for ASPO - May 2003 Paris

  12. Benefits of Earth Dividend • Allocated rights : self-interest to protect • Applies thePolluter Pays Principle • Makes emission trade a ‘fair’ trade • Rewards non-pollution with income • Is instrument for Sustainable Globalisation • Less-corrupt growth“bottom-up” in SMEs • Compatible withfree market & democracy & decolonisation – ends “climate slavery” INTEGeR... consult - for ASPO - May 2003 Paris

  13. What does it mean ? • IPCC-climate vs.IEA & ASPO scenario’s  • 2 billion non-emitting poor ( ‘no access’ ) • each 2 ton Co2-eq @ euro 5,- ( no USA) = 20 billion euro/yr additional ‘ODA’ • ditto, with USA @ euro 10,- : 40 billion • 10 or 20 euro /year /capita extrafor investment in emission-free machines • CO2 is only a start, the first ‘common’ INTEGeR... consult - for ASPO - May 2003 Paris

  14. Research agenda • Involvemainstreameconomists • Ethics & political economics ! • Price formation ofpublic goods • Analyse AlaskaPermanent Fund Basic Income, Socio-Eco Tax Reform, Tobin Taxvs ‘charity’ social security INTEGeR... consult - for ASPO - May 2003 Paris

  15. Contact Dr Paul E. Metz INTEGeR… consult, NL Projects “Entrepreneurs for Equity” “Make emission trade a FAIR trade” metz@integerconsult.org www.integerconsult.org INTEGeR... consult - for ASPO - May 2003 Paris

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