Vindicating the Word “Economic”
More often that not I’m beginning to see people use the word “economic” in the context of shortsighted, unsustainable and unecological.
Can there really be a conflict between our endeavour for prosperity and the wellbeing of our planet and children?
Or is it the ineptness of some of our policy makers and business leaders at economic thinking that has given the purpose of this highly reasonable science a bad name?
Hello Vladimir.
I think that there are two elements to this. One, economic and ecological have been in conflict. Two, at the proper discount rate, a forest in 100 years has a value of zero - a perfectly rational conclusion to make economically and an absurd one to make ecologically.
I think that this can be addressed. Ultimately, I think this is where you’re going, there is sufficient demand for a beautiful habitat and biodiversity, stable climate, etc., that economics and ecology can get along, but it’s going to take some changes to put those two in harmony.