In the end, those gambling in Las Vegas lose more than they gain. As a society, we are gambling – with our big banks, with our nuclear power facilities, with our planet. As in Las Vegas, the lucky few – the bankers that put our economy at risk and the owners of energy companies that put our planet at risk – may walk off with a mint. But on average and almost certainly, we as a society, like all gamblers, will lose.
As you may guess, the quotation above is not by me – it is a summarizing passage from the new article by Joseph Stiglitz, “Gambling with the Planet”. Mr Stiglitz wrote a very interesting piece on the similarities between the sub-prime crisis, the meltdown in Fukushima, and the climate crisis humanity faces.