04 May 2009

A brilliant article which explains how and why the dominant economic paradigm is rooted in unreality and fantasy. The financial "wizards" and economic "high priests" of today rightly deserve to be castigated not only for the current worldwide credit crunch but also for our environmental woes. Our current model of relentless economic growth and accumulation of goods and capital is a recipe for ecological failure on a global scale. The economy is a subset of the ecosystem and not the other way round. Without a hospitable living environment, there can be no economy; hence, ecology precedes economy. I urge you to read the article in its entirety.

LINK: http://www.monthlyreview.org/090501-york-clark-foster.php

An essay mentioned in the article,“Economics Needs a Scientific Revolution,” can be found here: LINK