How ironic for the Washington Post to opine “Earth may have no tomorrow” and, two pages later, offer up the mini-bios of William Nordhaus and Paul Romer, described as Nobel Prize winners.
Without more rigorous news coverage, few indeed will know that Nordhaus and Romer are epitomes of neoclassical economics, that 20th century occupation isolated from the realities of natural science.
GDP growth is creating more problems than it solves–which is exactly why we need to keep calculating and monitoring it.
Herman Daly makes the case against using obsolete growth policies to dig out of the recession, and he issues a challenge to technological optimists.
Brian Czech explains the nuts and bolts of technological progress and why it won’t solve the dilemma of growth.
Part 1 of Brian Czech’s explanation of why we can’t rely on technological progress to overcome the limits to economic growth.
You can always count on Herman Daly to ask the critical questions: “How did this nonsense come into economics?”
Breaking the cycle of growth is the way to establish some much-needed breathing room in the economy.