Most estimates of wealth today are based upon gross domestic product, and many economists even see future wealth being created free of the constraints set by natural resources. Eric Davidson, scientist at the Woods Hole Research Center, calls such thinking "Marie Antoinette economics" and reveals its grave underlying fallacies. In valuing land or forests, for instance, we tend to discount their future value for our own children; in analyzing costs and benefits, the price of these natural resources upon which we ultimately ...
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Most estimates of wealth today are based upon gross domestic product, and many economists even see future wealth being created free of the constraints set by natural resources. Eric Davidson, scientist at the Woods Hole Research Center, calls such thinking "Marie Antoinette economics" and reveals its grave underlying fallacies. In valuing land or forests, for instance, we tend to discount their future value for our own children; in analyzing costs and benefits, the price of these natural resources upon which we ultimately depend is usually wrong; and damages to these resources are seen as "externalities." Davidson exposes these fallacies and offers a blueprint for a truly sustainable economy.
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Add this copy of You Can't Eat Gnp: Economics as If Ecology Mattered (a to cart. $2.52, very good condition, Sold by Open Books Ltd rated 4.0 out of 5 stars, ships from Chicago, IL, UNITED STATES, published 2001 by Basic Books.
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Here's a book for the majority of us who want to know more about how the economy works without all the big intellectual theories. What I especially value learning is about the hidden costs of industrial production. When the small organic farmer brings his fruits and vegetables to market, for example, he has to charge you what it cost him to produce them plus a profit or he will not be able to stay in business. The amount of the profit is where supply and demand come in. However, industrial producers don't pay for the costs of production in this straightforward way. They have various subsidies and economies of scale that remove the ability of the consumer to calculate the reason items imported from another continent cost less than those from the next county. Very interesting.
