Daly explains how the conflation of growth and development, and a reliance on the Cobb-Douglass production function, can lead to the spurious conclusion that natural resources are unimportant factors of production.
Our current economic policy goal is not fit for a finite and entropic world. But what would our economic policy goal be in a steady state economy?
Our economy faces a futility limit, ecological catastrophe limit, and an economic limit. Fortunately, the economic limit will likely be the first we encounter; hopefully we can implement a steady state economy before the others are reached!
Vermont moves to the forefront of a quiet revolution to integrate GPI into social and economic policy.
GDP growth is creating more problems than it solves–which is exactly why we need to keep calculating and monitoring it.
Our guest post discusses some exciting initiatives to augment GDP with indicators that measure our well-being or happiness.
Jimmy fox suggests three steps necessary to shrink our ecological footprint to fit within Earth’s biocapacity.
The next nonsensical strategy for maintaining the dream of endless GDP expansion? Negative interest rates!