“When the economy’s expansion encroaches too much on its - TopicsExpress



          

“When the economy’s expansion encroaches too much on its surrounding ecosystem, we will begin to sacrifice natural capital (such as fish, minerals and fossil fuels) that is worth more than the man-made capital (such as roads, factories and appliances) added by the growth. We will then have what I call uneconomic growth, producing “bads” faster than goods—making us poorer, not richer. Once we pass the optimal scale, growth becomes stupid in the short run and impossible to maintain in the long run. Evidence suggests that the U.S. may already have entered the uneconomic growth phase.” Herman Daly, ECONOMICS IN A FULL WORLD, Scientific American https://youtube/watch?v=qBXBk4fduW8
Posted on: Thu, 09 Oct 2014 10:22:10 +0000

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