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What happens if an economy runs out of running room ? If the growth of an economy can no longer be sustained bcause of resource limitations, what options are there? These are questions considered this week in a short lecture by Prof. Dan O Neill from the University of Leeds. Clearly one undesirable option is economic and societal collapse. But that is not the only possibility. Please share this article - Go to very top of page, right hand side, for social media buttons. From YouTube (written by Prof. O Neill): Ecological economists argue that the continued pursuit of economic growth in wealthy nations is neither sustainable nor desirable. But if the goal isn’t growth, then what is it? Two possible alternatives include degrowth and a steady-state economy. In this lecture, I explore Herman Daly s idea of a steady-state economy. I discuss what a steady-state economy would look like, and the changes that would be needed to achieve it. These include policies to limi ....
Written by John LounsburyThis week Prof Dan O Neill presents a short 15 minute lecture summarizing the debate about limits to growth. For centuries there have been those who proclaimed global growth was reaching its limits and yet growth has continued. One well-known example is Thomas Robert Malthus (1766-1834) who wrote about limits to growth over 200 years ago. The debate continues to this day. ....