The world economy today is at a crossroads. As Mahatma Gandhi once said, “Earth provides enough to satisfy every man’s need, but not every man’s greed.”
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- 1.Of course, World War I, the Great Depression of the 1930s and World War II disrupted the steady progress in growth and natural resource use in the world economy. However, outside these periods of economic dislocation, the general pattern of long-run productivity growth, skill-biased technological change and increased resource and energy use continued. See, for example, Edward B. Barbier (2011) Scarcity and Frontiers: How Economies Have Developed Through Natural Resource Exploitation. Cambridge and New York: Cambridge University Press;Google Scholar
- and Claudia Goldin and Lawrence F. Katz (2008) The Race Between Education and Technology. Cambridge: Harvard University Press.Google Scholar
- 3.According to the mid-range projections of the United Nations, the world population of 7.2 billion in mid-2013 is projected to increase by almost one billion people within the next twelve years, reaching 8.1 billion in 2025, and to further increase to 9.6 billion in 2050 and 10.9 billion by 2100. See United Nations Department of Social and Economic Affairs (UN DESA) (2013) World Population Prospects: The 2012 Revision. Volume I: Comprehensive Tables. New York: United Nations. Available at: http://esa.un.org/wpp/Documentation/pdf/WPP2012_Volume-I_Comprehensive-Tables.pdfGoogle Scholar
- 4.Tyler Cowen (2013) Average is Over: Powering America Beyond the Age of the Great Stagnation. New York: Dutton, pp. 229–230.Google Scholar
© Edward B. Barbier 2015