Saturday, 17 October 2009

Why no-growth economics? - The answer in a few sentences

Zero-growth theory is the most scientific form of economics - mathematical economics (Georgescu-Roegen) as developed by ecological economics (Daly and Costanza: energy economics, and economics that takes ecology seriously). The basic point is this: the economy is a subset of the ecological system, not vice versa. Endless economic growth is a fantasy in a finite system. And we face the gradual decline of low entropy energy and materials into high entropy wastes, which is a very real limit that physics imposes on economics.

2 Comments:

Blogger Joe Otten said...

So are you against the fiscal stimulus then? Would you be looking to balance the budget sooner like the Tories?

18 October 2009 at 21:55  
Blogger Rupert said...

We need a Green New Deal to STABILISE the economy. Not to 'stimulate' it like a corpse into impossible endless growth.

20 October 2009 at 09:26  

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Zero-growth theory is the most scientific form of economics - mathematical economics (Georgescu-Roegen) as developed by ecological economics (Daly and Costanza: energy economics, and economics that takes ecology seriously). The basic point is this: the economy is a subset of the ecological system, not vice versa. Endless economic growth is a fantasy in a finite system. And we face the gradual decline of low entropy energy and materials into high entropy wastes, which is a very real limit that physics imposes on economics.
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