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Economics in a Full World
​Herman E. Daly

  • Growth is thought to be the universal cure for all the major economic ills in the world.
  • Poverty - just grow the economy, increase production of goods and services and prompt consumer spending. Don't redistribute wealth from rich to poor because that slows growth.
  • Unemployment - increase demand for goods and services by lowering interest rates on loans and investment which leads to more jobs and growth.
  • Overpopulation - push economic growth and rely on demographic transition to reduce birth rates.
  • Uneconomic growth - producing bads faster than goods, making a country poorer.
  • Growth would work, however we begin to sacrifice natural capital with man-made capital
  • If we do not realize that our resources are limited, we will suffer uneconomic growth
  • U.S. may have already entered the uneconomic growth phase.
  • Some people benefit from uneconomic growth and thus have no incentive for change
  • Humankind must make the transition to a sustainable economy;  If we do not make that transition, we may be cursed not just with uneconomic growth but with an ecological catastrophe that would sharply lower living standards
  • Any subsystem must at some point cease growing and adapt itself to a steady rate - birth rates must equal death rates, and production rates of commodities must equal depreciation rates
  • Human population has increased, "ecological footprint" has increased.
  • As the world becomes full of us and our stuff, it becomes empty of what was here before. To deal with this new pattern of scarcity, scientists need to develop a “full world” economics to replace our traditional “empty world” economics
  • Economists have discussed five candidate quantities to sustain: GDP, “utility,” throughput, natural capital and total capital (the sum of natural and man-made capital)
  • The main idea behind sustainability is to shift the path of progress from growth, which is not sustainable, toward development, which presumably is.
  • If we do not make the adjustments needed to achieve a sustainable economy, the world will become ever more polluted and ever emptier of natural resources
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    • ScrAPES #11
    • ScrAPES #12
    • ScrAPES #13
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    • ScrAPES #15
  • 1-10 >
    • Reviving Dead Zones
    • Global Nitrogen Cycle
    • Wetlands
    • Life in the Ocean
    • The Prolific Afterlife of Whales
    • Caribbean Mangrove Swamps
    • Ecosystems on the Brink
    • Which Species Will Live
    • Tropical Forests
    • Termination of Species
  • 11-20 >
    • How to Eat Invasive Species
    • Human Population Grows Up
    • Population, Poverty, and the Local Environment
    • The Geography of Poverty and Wealth
    • Economics in a Full World
    • Radioactive Smoke
    • Arsenic in Drinking Water
    • Decibel Dilemma
    • Excessive Packaging
    • Down Go the Dams
  • 21-30 >
    • Reclaiming the Aral Sea
    • Facing the Freshwater Crisis
    • Fracking
    • Wading in Waste
    • Clean Energy from Filthy Water
    • A Plan to Keep Carbon in Check
    • The Greenhouse Hamburger
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