Archive for the 'economics' Category

Economics and the Natural Sciences

Saturday, February 3rd, 2007

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