The Future History of Political Economy – Part 2

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 webs—are a defining structure. In chemistry the laws of thermodynamics brought clarity and rigor to a science that struggled to bring theoretical unity to diverse phenomena.

The Future History of Political Economy – Part 1

by Eric Zencey

Ecological Economics and its corollary, steady-state economic thinking, represent a step forward for the discipline of economics and also a return to how it was practiced in the past. In the nineteenth century, economics was a part of a larger enterprise: political economy, the integrated treatment of morals and economics, ultimate ends and efficient means. Late in that century economics calved off from political economy, leaving behind political science and political philosophy as the residuum.

Economics as if the Laws of Thermodynamics Mattered

Everyone who participates in the economy should understand the relevance of entropy to economic production and consumption.

Technological Progress for Dummies

Part 1 of Brian Czech’s explanation of why we can’t rely on technological progress to overcome the limits to economic growth.