resilience.org / Frank Kaminski / 25 January 2016
In a chapter titled “The New High Priests: Economists,” Boyd summarizes a handful of the widely held false beliefs about our society’s relationship to its ecology that lie at the heart of common economic wisdom. These include unquestioned faith in the infinite supply or substitutability of any natural resource, an espousal of free trade and deregulation as the optimal ways for a country to develop, the supposition that all economic participants have equal market power and the tenet that everyone makes rational, self-interested decisions. The author points out that these mainstays of economic thought are simply unproven assumptions that benefit the elites by providing “a smokescreen of beliefs” concealing how modern societies really work. While there’s nothing really new in this discussion for those already familiar with the failings of conventional growth economics, Boyd does a succinct job of outlining the main ideas.
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