Tue, 10 May 2005

Some Greens don't understand economics

Some Greens don't understand economics. Consider this quote from Sen and the Art of Market-Cycle Maintenance by Molly Scott Cato:

Traditional economists see the economic system as being like the peach in the Roald Dahl story James and the Giant Peach: it will simply expand for ever, while we sit on its ever-fattening skin, enjoying the sunshine, and munching to our hearts' content. Greens, on the other hand, are opposed to growth because they recognise that planet Earth is a closed system. Growth must face the limits imposed by that system, whether they become apparent via resource depletion or the overloading of the natural environment with waste products. And, since the resources of planet Earth are finite, if there are five peaches and I eat four, that only leaves one for you. Or if we eat five between us and then our friend Bettina comes along, she will have to do without.

Wiser perspectives are available from Lester Thurow and Philip Sutton.

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