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The Future History of Political Economy – Part 2

Thermodynamics in Economics: Revolutionary portent, future history 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 […]


The Future History of Political Economy – Part 1

Economics Ignores Thermodynamics by Eric Zencey Editor’s Note: An earlier version of this essay appeared as a comment in the Great Transition Network Forum, which will appear on the Great Transition Initiative website next week along with a new essay by Herman Daly, “Economics for a Full World.” Ecological Economics and its corollary, Steady State […]


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.


Real Economies and the Illusions of Abstraction

Hazel Henderson, a true champion of the steady state economy, digs deep into the deficiencies of our economic and financial systems.