[Peakoil-website-changes] [DokuWiki] page changed: senate_oil_inquiry_submission

[peakoil at act-peakoil.org]

A page in your DokuWiki was added or changed. Here are the details:

Date        : 2006/02/25 21:50
Browser     : Mozilla/5.0 (X11; U; Linux i686; en-US; rv:1.7.8) Gecko/20050513 Debian/1.7.8-1
IP-Address  : 10.0.0.1
Hostname    : nermal
Old Revision: http://act-peakoil.org/dokuwiki/doku.php?id=senate_oil_inquiry_submission&rev=1140864367
New Revision: http://act-peakoil.org/dokuwiki/doku.php?id=senate_oil_inquiry_submission
Edit Summary: 
User        : 

@@ -127,9 +127,9 @@
  
    * Avoiding the tragedy of the commons
  Shared resources can be depleted or polluted by people who do not
  feel the full costs of their own actions, but when everyone does the
- same thing, everyone suffers – costs are externalised. Economic
+ same thing, everyone suffers -- costs are externalised. Economic
  systems need to take account of this by internalising externalities e.g.
  by taxing or banning.
  
    * Intergenerational equity
@@ -137,13 +137,13 @@
  older people do not advantage themselves at the expense of the
  younger and those yet to come.
  
    * Wealth equality
- This relates to the externalisation of costs. The wealthy usually
+ The wealthy usually
  have a greater say as to how society works, but if they can shield
- themselves from the consequences of their behaviour then they have
- little incentive to conserve resources and reduce pollution (unless
- they are particularly conscientious).
+ themselves from the consequences of their behaviour (i.e. externalise them) then they have
+ little incentive to conserve resources and reduce pollution -- unless
+ they are particularly conscientious. Extreme wealth disparity is a threat to a society's survival.
  
    * The Precautionary Principle - the problem of insufficient information
  In assessing the cost and benefits of action, government must
  assess the risk of worst case scenarios eventuating and account for



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