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An excellent primer on key insights and questions in ecological economics from a celebrated pioneer of the field. —Jason Hickel, author, Less is More Earth is in overshoot. The juggernaut of economic growth rolls on, consuming the biosphere, breaking planetary boundaries, and stretching inequality and injustice to the breaking point. But does it really need to be this way? And if not, what are the options? In Escape from Overshoot, celebrated ecological economist Peter A. Victor takes us on a grand tour of the overshoot crisis. From the history of economic thought through energy and material blindness, we learn how we got here and why collapse is inevitable unless we change course. But as the clock ticks, what pathways are possible and plausible? Victor surveys the alternatives — from green growth and doughnut economics to well-being, steady-state, and post-growth economics — and their limits. He then dives into what the latest and most sophisticated economic modelling tells us about whether we can intentionally shrink our economy and avoid collapse, all while enhancing human thriving and justice for all. The results are both surprising and profound. Ambitious, measured, and accessible, Escape from Overshoot is a vividly illustrated guide to the past, present, and future of the human economic project and our place on planet earth.
Our day-to-day experiences over the past decade have taught us that there must be limits to our tremendous appetite for energy, natural resources, and consumer goods. Even utility and oil companies now promote conservation in the face of demands for dwindling energy reserves. And for years some biologists have warned us of the direct correlation between scarcity and population growth. These scientists see an appalling future riding the tidal wave of a worldwide growth of population and technology. A calm but unflinching realist, Catton suggests that we cannot stop this wave - for we have already overshot the Earth's capacity to support so huge a load. He contradicts those scientists, engineers, and technocrats who continue to write optimistically about energy alternatives. Catton asserts that the technological panaceas proposed by those who would harvest from the seas, harness the winds, and farm the deserts are ignoring the fundamental premise that "the principals of ecology apply to all living things." These principles tell us that, within a finite system, economic expansion is not irreversible and population growth cannot continue indefinitely. If we disregard these facts, our sagging American Dream will soon shatter completely.
How the largest social movement in history is making the world a better place.
Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative
An exploration of why our measures of economic progress do not reflect the values that make humans happy offers a new economic model, "Genuine Wealth," to redefine progress and measure the real determinants of well-being.
The financial crisis that has blighted the world's richest countries since 2008 was a turning point in human history because it ushered in an era in which economies will tend to shrink rather than grow. Incomes will decline becausethe natural resources required for growth — particularly oil, the lifeblood of the world economy — can no longer be extracted in growingquantities. Indeed, as this book shows, the financial crash itself was due to an irresistible force — the rising global demand for cheap fossil fuels — meeting an immoveable object — a static supply. Fleeing Vesuvius is a collection of 27 essays by well-known international authors, all leading thinkers in their fields. Luminaries such asDavid Korowicz, Richard Douthwaite, Nate Hagen, Dmitry Orlov and Dan Sullivan weave together the threads of peak oil, resource depletion, economicinstability, and climate change and offer far-reaching solutions including: Concrete strategies for personal adaptation Workable models of self-reliant local communities Frameworks to support international action on financial and economic reform Timely, practical and fundamentally optimistic, Fleeing Vesuvius is a must read for anyone concerned with reducing our risk of environmental and societal collapse.
The power of local currencies Communities everywhere are challenged by issues such as health, elder and child care, housing, education, food security and the environment. On the surface, these problems appear to be rooted in economic crisis-forexample budget cuts have triggered reduced public services, soaring food prices have created food security concerns, and the subprime mortgage disaster has spawned record increases in foreclosures and homelessness. However if communities could match their unmet needs with their underutilized resources, many would find that while their economies may bestruggling when measured in traditional terms, they possess enough genuine wealth to allow all their inhabitants to enjoy a vastly improved quality of life. Creating Wealth demonstrates how a healthy society can beattained through developing new systems of exchange. Using creative initiatives such as time banks, systems of barter and exchange and local currencies, cities and towns can empower themselves and build vibrant, healthy, sustainable local economies. In addition to presenting many compelling case studies of successful alternative currencies in action, Creating Wealth also explores the different types of capital that communities have to draw on, including natural, built, social, human, institutional, cultural, technological, and financial. This book will appeal to community activists, city planners and other public officials, and anyone interested in developing strong local economies. Gwendolyn Hallsmith is the founder and director of Global Community Initiatives and the author of The Key to Sustainable Cities . Bernard Lietaer is the world's leading authority on complementary currencies and the author of The Future of Money .
The Wealth of Nature proposes a new model of economics based on the integral value of ecology. Building on the foundations of E.F. Schumacher's revolutionary "economics as if people mattered", this book examines the true cost of confusing money with wealth. By analyzing the mistakes of contemporary economics, it shows how an economy centered on natural capital-the raw materials that support human life-can move our society toward a more productive relationship with the planet that sustains us all. The Wealth of Nature suggests public policy initiatives and personal choices that can help alleviate the economic impact of peak oil. These strategies must address not only financial concerns, but the issues of resource depletion and pollution as well. Examples include: Adjusting tax policy to penalize the use of natural nonrenewable resources over recycled materials Placing public welfare above corporate interests Empowering individuals, families, and communities by prioritizing local, sustainable solutions Building economies at an appropriate scale. Profoundly insightful and impeccably argued, this book is required reading for anyone interested in the intersection of the environment and the economy as we enter the twilight of the Age of Abundance .
Our day-to-day experiences over the past decade have taught us that there must be limits to our tremendous appetite for energy, natural resources, and consumer goods. Even utility and oil companies now promote conservation in the face of demands for dwindling energy reserves. And for years some biologists have warned us of the direct correlation between scarcity and population growth. These scientists see an appalling future riding the tidal wave of a worldwide growth of population and technology. A calm but unflinching realist, Catton suggests that we cannot stop this wave - for we have already overshot the Earth's capacity to support so huge a load. He contradicts those scientists, engineers, and technocrats who continue to write optimistically about energy alternatives. Catton asserts that the technological panaceas proposed by those who would harvest from the seas, harness the winds, and farm the deserts are ignoring the fundamental premise that "the principals of ecology apply to all living things." These principles tell us that, within a finite system, economic expansion is not irreversible and population growth cannot continue indefinitely. If we disregard these facts, our sagging American Dream will soon shatter completely.
This multidisciplinary book provides new insights and hope for sustainable prosperity given recent developments in economics – but only if swift and strong actions consistent with Earth’s biophysical limits and principles of justice are universally taken. It is one thing to put limits on resource throughput and waste generation to conform with the ecosphere’s biocapacity. It is another thing to efficiently allocate a sustainable rate of resource throughput and ensure it is equitably distributed in the form of final goods and services. While the separate but interdependent decisions regarding throughput, distribution, and allocation are the essence of ecological economics, dealing with them in a world that needs to cure its growth addiction requires a realistic understanding of macroeconomics and the fiscal capacity of currency-issuing central governments. Sustainable prosperity demands that we harness this understanding to carefully regulate the rate of resource throughput and manipulate macroeconomic outcomes to facilitate human flourishing. The book begins by outlining humanity’s current predicament of gross ecological overshoot and laments the half-century of missed opportunities since The Limits to Growth (1972). What was once economic growth has become, in many high-income countries, uneconomic growth (additional costs exceeding additional benefits), which is no longer advancing wellbeing. Meanwhile, low-income nations need a dose of efficient and equitable growth to escape poverty while protecting their environments and the global commons. The book argues for a synthesis of our increasing knowledge of the ecosphere’s limited carrying capacity and the power of governments to harness, transform, and distribute resources for the common good. Central to this synthesis must be a correct understanding of the difference between financial constraints and real resource constraints. While the latter apply to everyone, the former do not apply to currency-issuing central governments, which have much more capacity for corrective action than mainstream thinking perceives. The book joins the growing chorus of authoritative voices calling for a complete overhaul of the dominant economic system. We conclude with policy recommendations based on a new economics that, if implemented, would come close to guaranteeing a sustainable and prosperous future. Upon reading this book, at least one thing should be crystal clear: business as usual is not a viable option.