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One Explanation for Recent Stock Market Whipsaws

I've been mystified by the massive swings upward in the stock market whenever Trump makes a sttement backing off his tough tariff talk. After ten years of listening to Trump throw out stalling lines whenever he feels cornered, no human investor would believe him. So why would the markets take...

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Fire & Flood
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Winds of Change
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Afterword to the softbound edition.


The Octopus and the Orangutan
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The Future In Plain Sight
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The Parrot's Lament
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Silent Partners
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Affluence and Discontent
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The Alms Race
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Apes, Men, & Language
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The Pope Moves the Church


Sunday July 05, 2015

[This essay appeared in the Financial Times on July 3, 2015]
 

Free market conservatives hate it, it fails to address the threat of overpopulation, and it dismisses carbon credits as a way to combat global warming. Nonetheless Pope Francis’s encyclical, Laudato Si’, will ultimately be recognised as one of the most significant events in the modern environmental movement. Above all, it takes a big step towards healing a breach between western religions and nature that dates back to the dawn of monotheism.

Francis goes much further than Pope Paul VI, who more than 40 years ago inveighed against the “ill-considered exploitation of nature”. He explicitly recognises and explores the link be­tween what he construes as a warped interpretation of dominion — an interpretation that relegates nature to mere stuff put at humanity’s disposal — and the wanton despoliation of the planet. His encyclical builds on the thinking of the many Christians who mined Biblical texts to support the notion that the creation is sacred. The Pope cited his namesake, St Francis of Assisi, who averred “through the greatness and beauty of creatures one comes to know by analogy their maker”.

It is no overstatement to say that the present, human-wrought, sixth-great extinction crisis — the biggest die-off in species since the dinosaurs — as well as the climate crisis that may prove our undoing, are a result of the view of dominium Pope Francis seeks to bury. Arnold Toynbee, the British historian, recognised this nearly 50 years ago. He argued in an essay on the origins of pollution that the arc of western religion has been to get the gods off our back so that humanity can do business. This started in ancient Greece, where moral space for exploiting nature was created by moving the gods out of the trees and exiling them to Mount Olympus.

The advent of monotheism took this further by bundling the deities into one God and placing Him in outer space. Throw in the Protestant revolution, which made material success virtuous, and it was but a short step to the throw­away consumer society Pope Francis rails against.

The conclusion that humanity is intrinsically different from the rest of nature made sense to early Christian thinkers, given that they rarely encountered any creature that suggested continuity between animals and people. By contrast, in central Africa, great apes provided a constant reminder for the animists that nature is a continuum. It is notable that the version of Genesis recounted by Josephus — a Zelig-like figure of Roman times who was first a Jewish general, then an adviser to the son of the Emperor Vespasian and also an important historian — states that humans could talk to the animals before the fall, an explicit statement that knowledge and intellect separate us from the rest of the natural order. Over the years, the text and the interpretation changed; instead of being a curse, the knowledge that caused our alienation from nature morphed into a glory.

Fast forward to 1962, when Rachel Carson’s Silent Spring marked the dawn of the modern environmental movement, awakening the world to pollution. A few years later there was some success in teaching language to chimpanzees, which may ultimately have done more to undermine the concepts of human nature that supported the moral justification for our abuse of nature.

Today, attitudes about animal intelligence have shifted to the point where US courts have permitted filings arguing that chimpanzees should be regarded not as property but persons. An un­thinking sense of entitlement has given way to an honest struggle to reconcile acknowledgement of our ties to nature with the functioning of a modern industrial society — the same conundrum Francis addresses in his encyclical.

Indeed, there is proof in the encyclical that the Pope is mindful of the conundrum posed by recognising that nature is sacred in a modern industrial society. In paragraph 90, he acknowledges that humanity must accept its responsibilities without the divination of nature paralysing all economic activity or eclipsing the plight of the poor. There is no easy way to achieve that balance, but even the subtle shift from entitlement to respect and awareness of life’s interconnections could work wonders.

Thus religion, at its most profound, changes. Two decades ago I asked James Parks Morton, then dean of Saint John the Divine, the Episcopal cathedral in New York City, how the Church could reconcile the idea of respect for nature with an ethos that for centuries has viewed nature as mere stuff. His simple answer was that a cathedral’s transept was the centre of the soul of its community; and, if the centre moved, the church had to move. Pope Francis is trying to move the church. Laudate Papa.

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Short Take

An Excerpt from Fire and Flood Explaining a Universal Climate Tariff

An Excerpt from Fire and Flood Explaining a Universal Climate Tariff

The American Meteorological Society names Fire and Flood its book of the year for 2023, awarding it the Louis J Batton Author's Award.

Fire and Flood.

"Eugene Linden wrote his first story on climate change, for Time magazine, in 1988; it was just the beginning of his investigative work, exploring all ramifications of this impending disaster. Fire and Flood represents his definitive case for the prosecution as to how and why we have arrived at our current dire pass, closing with his argument that the same forces that have confused the public’s mind and slowed the policy response are poised to pivot with astonishing speed, as long-term risks have become present-day realities and the cliff’s edge is now within view.

Starting with the 1980s, Linden tells the story, decade by decade, by looking at four clocks that move at different speeds: the reality of climate change itself; the scientific consensus about it, which always lags reality; public opinion and political will, which lag farther still; and, arguably, most importantly, business and finance. Reality marches on at its own pace, but the public will and even the science are downstream from the money, and Fire and Flood shows how devilishly effective monied climate-change deniers have been at slowing and even reversing the progress of our collective awakening. When a threat means certain but future disaster, but addressing it means losing present-tense profit, capitalism's response has been sadly predictable.

Now, however, the seasons of fire and flood have crossed the threshold into plain view. Linden focuses on the insurance industry as one loud canary in the coal mine: fire and flood zones in Florida and California, among other regions, are now seeing what many call climate redlining. The whole system is teetering on the brink, and the odds of another housing collapse, for starters, are much higher than most people understand. There is a path back from the cliff, but we must pick up the pace. Fire and Flood shows us why, and how." From Catalog Copy

Washington Post:
https://www.washingtonpost.com/outlook/2022/05/27/climate-change-russia-us-are-uncomfortably-alike/
Library Journal Review:
https://www.libraryjournal.com/review/fire-and-flood-a-peoples-history-of-climate-change-from-1979-to-the-present-2135202
Publishers Weekly:
https://www.publishersweekly.com/978-1-98488-224-0  



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