Three Limits to Growth
from Herman Daly
As production (real GDP) grows, its marginal utility declines, because we satisfy our most important needs first. Likewise, the marginal disutilitiy inflicted by growth increases, because as the economy expands into the ecosphere we sacrifice our least important ecological services first (to the extent we know them). These rising costs and declining benefits of growth at the margin are depicted in the diagram below.
From the diagram we can distinguish three concepts of limits to growth. Read more…
Real-World Economics Review
WEA Books
follow this blog on Twitter
Top Posts- last 48 hours
- Weekend read - A STIGLITZ ERROR?
- With a modest financial transactions tax, Jim Simons would not have been superrich
- Economics — a dismal and harmful science
- Dystopia and economics
- USA: The Great Prosperity / The Great Regression : 5 charts
- There ain’t no libertarians, just politicians who want to give all the money to the rich
- Keynes and the casino
- new issue of Real-World Economics Review
- Reflections on the “Inside Job”
- Comments on RWER issue no. 91
"We cannot solve our problems with the same thinking we used when we created them." Albert Einstein
Regular Contributors
Real World Economics Review
The RWER is a free open-access journal, but with access to the current issue restricted to its 25,952 subscribers (07/12/16). Subscriptions are free. Over one million full-text copies of RWER papers are downloaded per year.
WEA online conference: Trade Wars after Coronavirus
Comments on recent RWER issues
————– WEA Paperbacks ————– ———– available at low prices ———– ————- on most Amazons ————-
WEA Periodicals
----- World Economics Association ----- founded 2011 – today 13,800 members
Comments on issue 74 - repaired
Comments on RWER issues
WEA Online Conferences
—- More WEA Paperbacks —-
———— Armando Ochangco ———-
Shimshon Bichler / Jonathan Nitzan
————— Herman Daly —————-
————— Asad Zaman —————
—————– C. T. Kurien —————
————— Robert Locke —————-
Guidelines for Comments
• This blog is renowned for its high level of comment discussion. These guidelines exist to further that reputation.
• Engage with the arguments of the post and of your fellow discussants.
• Try not to flood discussion threads with only your comments.
• Do not post slight variations of the same comment under multiple posts.
• Show your fellow discussants the same courtesy you would if you were sitting around a table with them.
Most downloaded RWER papers
- Trade and inequality: The role of economists (Dean Baker)
- New thinking on poverty (Paul Shaffer)
- Green capitalism: the god that failed (Richard Smith)
- Why some countries are poor and some rich: a non-Eurocentric view (Deniz Kellecioglu)
- Debunking the theory of the firm—a chronology (Steve Keen and Russell Standish)
- What Is Neoclassical Economics? (Christian Arnsperger and Yanis Varoufakis)
- The housing bubble and the financial crisis (Dean Baker)
- Global finance in crisis (Jacques Sapir)
- The state of China’s economy 2009 (James Angresano)
Family Links
Contact
follow this blog on Twitter
RWER Board of Editors
Nicola Acocella (Italy, University of Rome) Robert Costanza (USA, Portland State University) Wolfgang Drechsler ( Estonia, Tallinn University of Technology) Kevin Gallagher (USA, Boston University) Jo Marie Griesgraber (USA, New Rules for Global Finance Coalition) Bernard Guerrien (France, Université Paris 1 Panthéon-Sorbonne) Michael Hudson (USA, University of Missouri at Kansas City) Frederic S. Lee (USA, University of Missouri at Kansas City) Anne Mayhew (USA, University of Tennessee) Gustavo Marqués (Argentina, Universidad de Buenos Aires) Julie A. Nelson (USA, University of Massachusetts, Boston) Paul Ormerod (UK, Volterra Consulting) Richard Parker (USA, Harvard University) Ann Pettifor (UK, Policy Research in Macroeconomics) Alicia Puyana (Mexico, Latin American School of Social Sciences) Jacques Sapir (France, École des hautes études en sciences socials) Peter Söderbaum (Sweden, School of Sustainable Development of Society and Technology) Peter Radford (USA, The Radford Free Press) David Ruccio (USA, Notre Dame University) Immanuel Wallerstein (USA, Yale University)
Recent Comments