A new economics for our full world
Herman Daly
Chapter 5 in Handbook on Growth and Sustainability, 2017, pp 85-106 from Edward Elgar Publishing
Abstract:
In yesterday’s empty world, growth made sense; in today’s full world, physical growth of the economy encroaches on the ecosphere to a degree that we sacrifice natural services that at the margin are more valuable than the production services added by growth. The optimal scale of the economy relative to the ecosphere is thus exceeded. Growth becomes uneconomic. What are the reasons for believing that this is true? What are the consequences for economic theory, and for policy? What has blocked our recognition of this epochal change in the pattern of scarcity? Finally, what values and ethical principles are required to enable withdrawal from our addiction to growth?
Keywords: Economics and Finance; Environment; Politics and Public Policy (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://www.elgaronline.com/view/9781783473557.00012.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:15720_5
Ordering information: This item can be ordered from
http://www.e-elgar.com
Access Statistics for this chapter
More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().