Tuesday, August 30, 2011

A Brief Glimpse into the New Paradigm of Economics


            The ways in which humans are perceiving and thinking about the planet are constantly evolving...hopefully for the good!  Few domains of thought are left out of this continuous evolution and some are in need of Darwinian progress faster than others.  One area of study that could use some sort of time machine is that of economics.  The field, especially in Western society, has become eerily intertwined with politics and the pursuit of democracy.  Furthermore, traditional or neoclassical economic approaches seem outdated in their respect for the earth's true carrying capacity.  While so-called environmental economics has evolved as a subset of neoclassical thought, this mode also falls short of accounting for finite supplies of resources on the planet.  Ecological economics, on the other hand, has truly distanced itself from its academic predecessors and begins to address some of the core planetary issues facing the world today.