The Wealth of Nature : : How Mainstream Economics Has Failed the Environment / / Robert Nadeau.
Virtually all large-scale damage to the global environment is caused by economic activities, and the vast majority of economic planners in both business and government coordinate these activities on the basis of guidelines and prescriptions from neoclassical economic theory. In this hard-hitting boo...
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Superior document: | Title is part of eBook package: De Gruyter Columbia University Press eBook-Package Backlist 2000-2013 |
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Place / Publishing House: | New York, NY : : Columbia University Press, , [2003] ©2003 |
Year of Publication: | 2003 |
Language: | English |
Online Access: | |
Physical Description: | 1 online resource (336 p.) |
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100 | 1 | |a Nadeau, Robert, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
245 | 1 | 4 | |a The Wealth of Nature : |b How Mainstream Economics Has Failed the Environment / |c Robert Nadeau. |
264 | 1 | |a New York, NY : |b Columbia University Press, |c [2003] | |
264 | 4 | |c ©2003 | |
300 | |a 1 online resource (336 p.) | ||
336 | |a text |b txt |2 rdacontent | ||
337 | |a computer |b c |2 rdamedia | ||
338 | |a online resource |b cr |2 rdacarrier | ||
347 | |a text file |b PDF |2 rda | ||
505 | 0 | 0 | |t Frontmatter -- |t Contents -- |t Introduction -- |t Chapter 1. Spaceship Earth -- |t chapter 2. The not so worldly philosophers -- |t Chapter 3. The emperor has no clothes -- |t Chapter 4. No free lunch -- |t Chapter 5. A green thumb on the invisible hand -- |t Chapter 6. Schisms, heresies, and keeping the faith -- |t Chapter 7. The real economy in biology -- |t Chapter 8. The real economy in physics -- |t Chapter 9. Toward a new theory of economics -- |t Chapter 10. The ceremony of innocence -- |t Notes -- |t Index |
506 | 0 | |a restricted access |u http://purl.org/coar/access_right/c_16ec |f online access with authorization |2 star | |
520 | |a Virtually all large-scale damage to the global environment is caused by economic activities, and the vast majority of economic planners in both business and government coordinate these activities on the basis of guidelines and prescriptions from neoclassical economic theory. In this hard-hitting book, Robert Nadeau demonstrates that the claim that neoclassical economics is a science comparable to the physical sciences is totally bogus and that our failure to recognize and deal with this fact constitutes the greatest single barrier to the timely resolution of the crisis in the global environment. Neoclassical economic theory is premised on the belief that the "invisible hand"- Adam Smith's metaphor for forces associated with the operation of the "natural laws of economics"-regulates the workings of market economies. Nadeau reveals that Smith's understanding of these laws was predicated on assumptions from eighteenth-century metaphysics and that the creators of neoclassical economics incorporated this view of the "lawful" mechanisms of free-market systems into a mathematical formalism borrowed wholesale from mid-nineteenth-century physics. The strategy used by these economists, all of whom had been trained as engineers, was as simple as it was absurd-they substituted economic variables for the physical variables in the equations of this physics. Strangely enough, this claim was widely accepted and the fact that neoclassical economics originated in a bastardization of mid-nineteenth-century physics was soon forgotten.Nadeau makes a convincing case that the myth that neoclassical economic theory is a science has blinded us to the fact that there is absolutely no basis in this theory for accounting for the environmental impacts of economic activities or for positing viable economic solutions to environmental problems. The unfortunate result is that the manner in which we are now coordinating global economic activities is a program for ecological disaster, and we may soon arrive at the point where massive changes in the global environment will threaten the lives of billions of people. To avoid this prospect, Nadeau argues that we must develop and implement an environmentally responsible economic theory and describes how this can be accomplished. | ||
530 | |a Issued also in print. | ||
538 | |a Mode of access: Internet via World Wide Web. | ||
546 | |a In English. | ||
588 | 0 | |a Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022) | |
650 | 0 | |a Economic development |x Environmental aspects. | |
650 | 0 | |a Globalization |x Economic aspects. | |
650 | 0 | |a Globalization |x Environmental aspects. | |
650 | 7 | |a BUSINESS & ECONOMICS / Environmental Economics. |2 bisacsh | |
773 | 0 | 8 | |i Title is part of eBook package: |d De Gruyter |t Columbia University Press eBook-Package Backlist 2000-2013 |z 9783110442472 |
776 | 0 | |c print |z 9780231127981 | |
856 | 4 | 0 | |u https://doi.org/10.7312/nade12798 |
856 | 4 | 0 | |u https://www.degruyter.com/isbn/9780231507769 |
856 | 4 | 2 | |3 Cover |u https://www.degruyter.com/document/cover/isbn/9780231507769/original |
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