Sir David King, former chief scientific adviser to the UK government, who convened the two-day Resource 2012 conference, told the Guardian: "We are nowhere near realising the full impact of this yet. We have seen the first indications – rising food prices, pressure on water supplies, a land grab by some countries for mining rights and fertile agricultural land, and rising prices for energy and for key resources [such as] metals. But we need to do far more to deal with these problems before they become even more acute, and we are not doing enough yet."
Countries that are not prepared for this rapid change will soon – perhaps irrevocably – lose out, with serious damage to their economies and way of life, the conference was told.
Amartya Sen, a Nobel prize-winning economist, said that the free market would not necessarily provide the best solution to sharing out the world's resources. Governments would need to step in, he said, to ensure that people had access to the basics of life, and that the interests of businesses and the financial markets did not win out over more fundamental human needs.
... If price signals are not enough to change behaviour, then other methods such as government intervention may be needed....
Amartya Sen in 2010, shot by Government of Thailand, Wikimedia Commons via Flickr, under the Creative Commons Attribution 2.0 Generic license.
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