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A Further Critique of Growth Economics

  • Herman DalyEmail author
Chapter
Part of the Studies in Ecological Economics book series (SEEC, volume 6)

Abstract

Is aggregate physical growth still economic, as it was in the empty world, or has it become uneconomic as we have moved into the full-world era? First I discuss why this critical question has been ignored by mainstream economists and policy makers. Second I consider 11 fallacies or anomalies that confuse reasoning about “economic growth”, and undercut the current policy presumption in its favor.

Keywords

Growth Sustainable development Development Wealth GDP World Bank Physical limits Resource throughput Resource flows ISEW Capital Labor Unemployment IMF WTO Trade 

Copyright information

© Springer International Publishing Switzerland 2017

Authors and Affiliations

  1. 1.Emeritus, School of Public PolicyUniversity of MarylandCollege ParkUSA

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