Indigenous livelihood portfolio as an economic framework for an ecological society

Abstract

The present economic system is geared towards increasing specialization and infinite growth. This orientation may have led to efficiency and new ways of increasing wealth but it has also led to unsustainable practices and, in some cases, loss of traditional knowledge. Many a systems thinker like the Limits to Growth's Club of Rome have suggested ways to avoid the negative consequences of the current economic system but these entail radical changes that cannot be afforded by deeply-entrenched practices of the worldwide economy. In this paper, another alternative is proposed, which may not only be desirable to an envisioned ecological society but also may also be logical to the unsustainable society of today. Looking at rural indigenous livelihoods may show us how an ecological society should be like. Exemplifying collectivism, indigenous peoples continue to cultivate empathy while at the same time inculcating sense of responsibility. Before "multi-hyphenated" became fashionable, indigenous peoples were already engaged in different occupations that, in turn, result to a diversified livelihood portfolio similar to what banks today advise clients on their investments. However, the difference lies in the indigenous tradition of only having enough for what is needed and rarely hoarding to the point of exhausting resources. This paper proposes that the diverse indigenous livelihood portfolio can be a valuable economic framework for an ecological society. It does not limit growth, but it makes sure growth happens in a sustainable manner.