In his newest book, Paul Collier expands his analysis of poverty and the resource curse, the subject of his influential The Bottom Billion, to tackle the problem of the mismanagement of nature. He argues that we can save the planet and ensure development and prosperity for the world's poorest countries through an ethical approach to the natural world. Nature is the only lifeline for billions in this world, yet the majority of poor countries have failed to capture its value for the benefit of their citizens. Climate change and the agricultural practices of the rich exacerbate their plight.
The key to addressing the twin problems of poverty and climate change, argues Collier, is to adopt the ethics of custody—an approach that allows extraction of natural resources and industrial emissions but demands that we do so responsibly and with the rights of future generations in mind. Collier thus aims to steer a middle course between a strictly utilitarian focus on growth and a romanticized view of nature that advocates preservation at all costs. Natural assets are an untapped source of wealth for many of the poorest countries. Collier outlines a chain of decisions (from avoiding a gold rush to investing the profits into domestic development) that a government must get right if this potential is not to be squandered or siphoned away.
On climate change, Collier suggests that we think of carbon emissions as a liability, “the natural equivalent of a debt,” and price all carbon emissions accordingly. He advocates a common global tax on carbon, which would provide the necessary incentives for the development of new technologies. In turn, this will lower carbon fuel prices and lead to a gradual adjustment to a low-carbon future.
Collier ends on an optimistic note: though prospects for intergovernmental cooperation on such issues as fish stocks or climate change appear slim at the moment, new technologies are creating an ever more informed and connected global citizenry that can hold its leaders to account and press for change. Part ethical treatise, part development manual, part manifesto, the book aims to inform and spur such citizen action. While some readers will take issue with Collier's preference for market-based solutions or the political feasibility of his proposals, the book's accessible language, its lively examples, and the breadth of its discussion make it essential reading for development professionals, government officials, and anyone who cares about the future of our planet.
