The Crisis of Civilization: Economic Globalization and the Shredding of the World

Joseph Wayne Smith, Graham Lyons and Gary Sauer-Thompson
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Joseph Wayne Smith: University of Adelaide
Graham Lyons: Glen Bold Cattle Ranch
Gary Sauer-Thompson: Flinders University of South Australia

Chapter 1 in The Bankruptcy of Economics: Ecology, Economics and the Sustainability of the Earth, 1999, pp 1-14 from Palgrave Macmillan

Abstract: Abstract The dominant religion in the developed world today is Economicism. Economicism, like religions it has superceded, such as Christianity, has a tripartite organizational structure—a Holy Trinity if you like. For Economicism, the science of economics corresponds to the Father; high technology and the faith that scientific (primarily physical scientific) investigation will solve humanity’s major environmental and social problems (a doctrine known as scientism) corresponds to the Son, and the Holy Spirit is the process of economic globalization, the increasingly free and liberal movement of physical and financial capital, information, labor and migrants around the globe. The claim that economics is a religion of materialism and consumerism, that economic progress will bring about a golden age, “the route of salvation to a new heaven on earth, the means of banishing evil from the affairs of mankind” (Nelson, 1991b, xxii), has been argued for in some detail by Robert H. Nelson in his brilliant book Reaching for Heaven on Earth: The Theological Meaning of Economics (Nelson, 1991b). In this book we shall show that the religion of economics, materialism and consumerism—Economicism—is a bankrupt world view, that is not only rationally and scientifically untenable, but is also leading humanity towards inevitable destruction.

Keywords: Economic Globalization; Equilibrium Theory; Neoclassical Economic; Nobel Prize Winner; Environmental Crisis (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1007/978-1-349-27569-4_1

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