Toward a Humpty Dumpty Economics

Wim Naudé

Chapter Chapter 8 in Economic Growth and Societal Collapse, 2023, pp 147-154 from Springer

Abstract: Abstract This chapter contains a summary and cautionary remarks. It argues for a Humpty Dumpty economics, that is, economic growth theory that takes into consideration the Second Law of Thermodynamics and hence accords fundamental importance to energy. This provides a fitting conclusion to a book that has considered two distinct positions to achieve the Great Decoupling: Green Growth and Degrowth. It was found that neither Green Growth nor Degrowth will be able to achieve the Great Decoupling. Neither will prevent “Humpty Dumpty”—a metaphor for the Second Law, from falling off the wall. This left the reader with the prospect of a Great Collapse. The question a Great Collapse raises is whether it spells the end—as an existential threat—or whether it is another phase in the cycle of integration and disintegration of civilizations over time? Whether a homeostatic awakening as discussed in Chap. 7 has come in time for us to manage our relationship with planetary systems better, is however unknown. As our collective intelligence continues to crunch on this problem, it may do us all good not to fall into doomerism and apocalyptic anxiety and panic, since as the rhyme extolls us “don’t Cry for Humpty or Humpty’s Big Spill—He’s Just Gone Where the Rest of the Universe Will.”

Keywords: Summary; Second Law of Thermodynamic; Homeostatic awakening; Humpty Dumpty; Collective intelligence; Dataome (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-45582-7_8

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