Thermodynamics in Economics: Revolutionary portent, future history by Eric Zencey Ecological Economics represents the extension into economics of the thermodynamic revolution of the nineteenth and twentieth centuries. In physics, that revolution dethroned Newton and brought relativity. In biology, it was midwife to the birth of ecology, the study of ecosystems as wholes in which energy networks—food […]
Economics Ignores Thermodynamics by Eric Zencey Editor’s Note: An earlier version of this essay appeared as a comment in the Great Transition Network Forum, which will appear on the Great Transition Initiative website next week along with a new essay by Herman Daly, “Economics for a Full World.” Ecological Economics and its corollary, Steady State […]
In part two of two, Eric Zencey explains how American Constitutional case law has come to value private property over the interests of other citizens.
In part one of two, Eric Zencey explains how American Constitutional case law has come to value private property over the interests of other citizens.
Mainstream economists base their recommendations on the idea that the Earth is somehow infinite–a notion equally absurd as the idea that the Earth is flat.
Vermont moves to the forefront of a quiet revolution to integrate GPI into social and economic policy.
If economists know GDP is not a measurement of economic well-being, why have they continued using it as a proxy for this?
If the majority of voters remain ecologically illiterate, they must give up either civilization or democracy.
Whether it’s an apartment complex or an economy, the slumlord model of management can only lead to ruin and regret.
China is playing a dangerous game based on a seductive (but faulty) economic theory.