Co-authored by Peter Malik, Director of Center for Market Innovation at the NRDC
From The Next Forty Years, Jorgen Randers, ed. (forthcoming)
Forty years ago when I read The Limits to Growth I already believed that growth in total resource use (population times per capita resource use) would stop within the next forty years. The modeling analysis of the Meadows’ team was a strong confirmation of that common-sense belief based on first principles going back at least to Malthus and earlier classical economists.
The debt limit negotiations are 99% political and 1% economic, so I have little directly to say about them. But I do have some related thoughts to share as we stumble toward the deadline, with much wasted tax payer money paying for amateur hour in Washington while real challenges are left to smolder and in some cases burn.
Somehow I missed the release of a new collection of essays by Wendell Berry in 2010, What Matters: Economics for a Renewed Commonwealth. The introduction is by Herman Daly, whose clarification of how scale limits transform economics remains the most important idea still not acknowledged in mainstream economics today.
By Herman Daly