Nature in motion

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Chapter 8 in Aristotle’s Economics, 2024, pp 98-115 from Edward Elgar Publishing

Abstract: Some things are constant. Others are in a continuous process of mutation. Causes are effects as social development takes its course. Creation follows re-creation in an eternal sequence. Economic history documents the experience of the past. It provides an insight into the future. Economic growth is necessary to eliminate poverty. Motion must nonetheless be gradual, as Marshall was to say and Schumpeter would deny, in order to protect the existing way of life and circular flow. Like Smith, Aristotle does not provide a growth model but only a list of contributory variables. Prominent among these are the human inputs of innate curiosity, the inherited lens, custom, imagination, legislation and the division of labour. The market and capital investment are less important. The status of God as the prime mover is explored.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
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