No follow-up should be needed to expose the ludicrousness of Nordhaus’s statement, but just in case: Agriculture is the very foundation of the economy. No agriculture, no anything else. Think about it. Any hit on agriculture – whether from climate change, bad luck, or stupid policies – has a magnified effect on the economy at large.
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.
Jimmy fox suggests three steps necessary to shrink our ecological footprint to fit within Earth’s biocapacity.
Ecocidal tendencies have no place in either our legal or our economic institutions. Here’s a direct way to help put an end to ecocide.
On our full-world planet, we face an urgent challenge to find strategic points in decision-making processes to encourage “right-sized” consumption.
It’s rare to find a Wall Street Journal columnist (and a Ronald Reagan appointee) calling for a steady-state economy.
Economists are good at making specious arguments in favor of infinite growth. Herman Daly is good at debunking them.