The throwaway economy that has been evolving over the last half-century is an aberration, now itself headed for the junk heap of history.

Nations are in effect ceding portions of their sovereignty to the international community and beginning to create a new system of international environmental governance.

Another agricultural trend of growing concern is the increased nutrient content of coastal waters resulting from fertilizer runoff in agricultural regions. Augmented by urban sewage discharge in some situations, this results in huge algal blooms, which, as they die and decay, deplete the oxygen content in the water, leading to the death of the fish.

Socialism failed because it couldn't tell the economic truth. Capitalism may fail because it couldn't tell the ecological truth.

Among the environmental trends undermining our future are shrinking forests, expanding deserts, falling water tables, collapsing fisheries, disappearing species, and rising temperatures. The temperature increases bring crop-withering heat waves, more-destructive storms, more-intense droughts, more forest fires, and, of course, ice melting. We are crossing natural thresholds that we cannot see and violating deadlines that we do not recognize.

The problem with water, though, is that the shortfalls don't show up until the very end. You can go on pumping unsustainably until the day you run out. Then all you have is the recharge flow, which comes from precipitation. This is not decades away, this is years away. We're already seeing huge shortages in China, where the Yellow River runs dry for part of each year. The Yellow River is the cradle of Chinese civilization. It first failed to reach the sea in 1972, and since 1985 it's run dry for part of each year. For 1997 it was dry for 226 days.

A sustainable economy represents nothing less than a higher social order one as concerned with future generations as with our own, and more focused on the health of the planet and the poor than on material acquisitions and military might. While it is a fundamentally new endeavor, with many uncertainties, it is far less risky than continuing with business as usual.