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Economics 101 and Ecological Collapse

Originally published at http://www.commondreams.org/views/2019/06/18/economics-101-and-ecological-collapse

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This one thing those followers of the theories of Hayek and Von Mises and the like just do not get when they advance their libertarian twaddle.

Those economists suggested there only self Interest and everything was motivated out of self interest. They claimed there could never be a communal interest . As individuals one should and would only be interested in advancing the best interests of the self and no others or nothing else. The individual and individualism was to reign supreme.

The fact is all life is connected and interconnected. We can not survive in a world where our ecosystems are seen as little more then “utility” there to provide for our individual desires. We can not stand apart from the Natural world around us , nor can our economic models. Infinite growth with finite resources can not happen in the natural world and it can not be made to work in any economic model.

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This was born from the old worldview that sees humankind seperate from God/Life and humans having domination over nature .
Nothing could be further from the truth.Nothing more cruel to Nature than mankind.

This separation is off course a fallacy as all is One, as you so eloquently described.
The New field of Quantum Physics has given us this road to take .
Do we listen, or do we continue to live in the illusion.

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The italicized list near the top of the article does not include either “population” or “industrialism.” Under contemporary conditions, both capitalist and socialist critiques often leave these rather relevant factors aside – but in fact, any modern economy (complex, crowded, extremely long and elaborated linkages) must be some sort of “mixed economy.” In any case, I agree about pursuit of a political solution that would further sustainability. But framing the gist of the present problem and desired remediative process in technocratic terms hits substantially wide of the mark.

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From the article:

“When today’s mainstream economics was invented in the 19th century, the global economy was too small to have observable effects on the ecosphere, and none were anticipated.”

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If one is familiar with the explorations and works of Alexander von Humboldt (1769-1859), one would have to disagree with this statement.

For those unfamiliar with von Humboldt, and excellent introduction is “The Invention of Nature” (2015), by Andrea Wulf.

And of course one could go much further back - to the ancient Greeks or Romans, to the Vedic People, etc…

For the record, and in my opinion and that of some modern economists, what we term ‘economics’ is actually more closely the study of the flow of money and wealth, which is ‘chrematistics’, a Greek word, as is ‘economics’.

The Greeks however, understood there was a difference - we do not.

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Unsustainable. Soon, that word will dominate all public discourse.