A sustainable economy produces goods and services while contributing to the overall well being of the community. This means that people are able to access quality education and healthcare, meaningful work opportunities, enjoy recreation, and raise families in ways that also improve the well being of their neighbors and contribute to a society and environment that will support greater opportunities for future generations.
It is important to also understand that the classical economic principle of “more is better” is not a foundation for a sustainable economy, even though we still hear the rate of growth of an economy as a metric that is often cited to indicate the “health” of an economy. Our stocks of physical capital (natural and produced) are finite, indicating that sustained growth will lead to the degradation of these resources. Instead we should think about sustainable economic development, which means things are improving, though not necessarily growing. This also indicates that to address the inequities that exist in our communities, reallocation of resources is necessary.
It is important to also understand that the classical economic principle of “more is better” is not a foundation for a sustainable economy, even though we still hear the rate of growth of an economy as a metric that is often cited to indicate the “health” of an economy. Our stocks of physical capital (natural and produced) are finite, indicating that sustained growth will lead to the degradation of these resources. Instead we should think about sustainable economic development, which means things are improving, though not necessarily growing. This also indicates that to address the inequities that exist in our communities, reallocation of resources is necessary.
What are some issues?
Environment
- Santa Fe has limited water resources, requiring that business meet their water needs with high efficiency and re-use.
- Business development must be encouraged to preserve Santa Fe’s clean air and maintain green spaces.
- Approximately 2,600 youth, ages 16-24, in Santa Fe are estimated to be "disconnected" from school and work.
- Many of the high school graduating youth are still either unemployed (11.1%) or out of the labor force (39%).
- 31% of children under 18 in Santa Fe live below poverty (2013).
- In Santa Fe County, a woman with similar post-graduate credentials will earn 65% less than a man.
- 6% of the population in Santa Fe is unemployed (2014).
- Housing costs in Santa Fe are 18% above the national average.
Let's Take Action!
Each topic area of the 25 Year Plan had a group of 5-10 experts from the community who worked together to develop a set of GOALS and the ACTIONS that can help to reach those goals. Below are some of the PRINCIPLES that the group thought would have impact and should be prioritized to reach the GOALS.
GOAL : Develop a thriving, just, equitable, and sustainable economy
GOAL : Develop a thriving, just, equitable, and sustainable economy
- Unlocking the potential for an economy and community to thrive requires a deep understanding of the history, geography, and culture of place.
- Our local economy is a system of interconnected, complex social, natural, and economic relationships. We must understand that changing individual relationships/parts may have unforeseen impacts for the economy as a whole.
- Localization of the economy is healthy when it leads to reduced environmental impacts, costs to consumers, and job creation.
- Business activity should maintain or improves human, natural, and built resources. This means that businesses do not exploit human labor or overuse or damage natural resources, while functioning to remedy social inequities and environmental damage.
- We should think about sustainable economic development, which means things are improving, though not necessarily growing. To address the inequities that exist in our communities, reallocation of resources is necessary.
- Plans and strategies cannot be rigid or static, but must have mechanisms for feedback and revision.
- Diverse economies are more stable and resilient. A diverse local economy is one that is composed of different types of business activities, as opposed to a small number of industries or a few large businesses.
- People and businesses must have free and accurate information about the social and environmental impacts of their economic choices.