Herman Daly explains how we can use prices now as tools for rationing a fixed predetermined flow of resources, rather than determining the volume of resources taken from nature, or the physical scale of the economic subsystem.
Just how efficient are are market prices when they put the future of all species, including humans, at risk?
Good and bads, wealth and illth — economic growth produces them all. But how big are the bads and how damaging is the illth?
Common sense is the scarce commodity in the study of supply.