Economics and the Natural Sciences

I was discussing this project with my brother, and in one message he sent me he said, “Regardless of whether global warming is an anthropogenic phenomenon or not, all evidence indicates most of our ‘renewable’ resources running out in the next 50-100 years (because our economy doesn’t value them).” He also sent me the 2001 paper “The Need to Reintegrate the Natural Sciences with Economics” by Charles Hall, Dietmar Lindenberger, Reiner Kümmel, Timm Kroeger, and Wolfgang Eichhorn. This is an excellent work that I would recommend to everyone. From the abstract:

Neoclassical economics, the dominant form of economics today, has at least three fundamental flaws from the perspective of the natural sciences, but it is possible to develop a different, biophysical basis for economics that can serve as a supplement to, or a replacement for, neoclassical economics.

-- MattShanley

vm Says:

great article, i love the diagram on page 2, again it seems to me that there is a huge paradigm shift afoot and that it will no longer be enough to understand one field of knowlege in an isolated way, but that one must at least know all fields with which it interfaces. politics and science is another glaring often overlooked connection. all of this probably stems from previous (and probably eurocentric) mindset that the world is ours for the dominating, and it is fine to pinch off larger and larger parts to play with, rather than the fact that we are subject to natural laws and are actually a smaller piece in a greater whole.

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MattShanley Says:

I sense this paradigm shift as well, and hope that we are correct about it. Changes do seem very slow in coming though.

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