Jim Sawyer: 'Consider the Great Salt Lake. A prudent, ESG-oriented financial manager would avoid placing assets into business plans that undermine the lake’s ecological future.'
Marlo Oaks, state treasurer, says a few words, as the Davis County Republicans hold their nominating convention at Farmington High School, on Saturday, March 26, 2022.Readers may be interested in the ideology that springs from the March 14 Salt Lake Tribune article, “ESG plays a prominent role. It stands for Environmental, Social and Governance.
Adam Smith, laissez-faire’s father, lived two centuries ago in a time of comparative economic deprivation. His intellectual system worked well, but then faltered amid rising complexity followed by the Great Depression, due in part to laissez-faire’s unrealistic orderliness requirement, known as equilibrium.
Florida’s Gov. Ron DeSantis and others — apparently Marlo Oaks included — seem to believe laissez-faire remains God’s chosen system. Of course, that demeans government’s contemporary responsibilities and fails to account for externalities — such as environmental pollution — that 18th and 19th century economists swept under the rug.
I encourage readers to embrace the recent New York Times article about Great Salt Lake’s unsustainable ecology, by Utah naturalist Terry Tempest Williams. Williams explains deftly what is Northern Utah’s ongoing and profound failure. It’s a consequence of prioritizing short-term-oriented economic development above long-term sustainability.
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