Economic theories, though social constructions, can reflect reality to varying degrees. In the face of dire environmental challenges, adopting a realistic theory is key to the survival of global civilization. The neoliberal emphasis on limitless growth and monetary flows, a relic of nineteenth century thinking, abstracts away from biological conditions. By contrast, ecological economics—as distinct from environmental economics, which remains wedded to the neoliberal growth paradigm—understands the economy as…

Sourced through Scoop.it from: www.greattransition.org

Brilliant theoretical essay by ecological footprint founder William Rees but ending with unjustified optimism.

See on Scoop.itThe Great Transition

Advertisements