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Valuing the Earth collects more than twenty classic and recent essays that broaden economic thinking by setting the economy in its proper ecological and ethical context. They vividly demonstrate that, contrary to current macroeconomic preoccupations, continued growth on a planet of finite resources cannot be physically or economically sustained and is morally undesirable.Among the issues addressed are population growth, resource use, pollution, theology (east and west),energy, and economic growth. Their common theme is the notion, popular with classical economists from Malthus to Mill, that an economic stationary state is more healthful to life on earth than unlimited growth. A number of essays in the first edition have become classics and have been retained for this edition, which adds six new essays.Herman E. Daly is Senior Economist at the World Bank. Kenneth N. Townsend is Associate Professor and Chair of the Department of Economics at Hampden-Sydney College.Contributors: Kenneth E. Boulding. John Cobb. Herman E. Daly. Anne H.
Ehrlich. Paul R. Ehrlich. Nicholas Georgescu-Roegen. Garrett Hardin. John P.
Holdren. M. King Hubbert. C. S. Lewis. E. F. Schumacher. Gerald Alonzo Smith. T. H.
Tietenberg. Kenneth N. Townsend.
|Introduction to Essays toward a Steady-State Economy||11|
|I||Ecology: Ultimate Means and Biophysical Constraints|
|1||Why Isn't Everyone as Scared as We Are?||55|
|2||Availability, Entropy, and the Laws of Thermodynamics||69|
|3||The Entropy Law and the Economic Problem||75|
|4||Selections from "Energy and Economic Myths"||89|
|5||Exponential Growth as a Transient Phenomenon in Human History||113|
|6||The Tragedy of the Commons||127|
|7||Second Thoughts on "The Tragedy of the Commons"||145|
|II||Ethics: The Ultimate End and Value Constraints|
|8||The Age of Plenty: A Christian View||159|
|10||The Purpose of Wealth: A Historical Perspective||183|
|11||Ecology, Ethics, and Theology||211|
|12||The Abolition of Man||229|
|III||Economics: Interaction of Ends and Means|
|13||On Economics as a Life Science||249|
|14||Sustainable Growth: An Impossibility Theorem||267|
|15||Steady-State Economies and the Command Economy||275|
|16||The Economics of the Coming Spaceship Earth||297|
|17||Spaceship Earth Revisited||311|
|18||Using Economic Incentives to Maintain Our Environment||315|
|19||The Steady-State Economy: Toward a Political Economy of Biophysical Equilibrium and Moral Growth||325|
|20||Postscript: Some Common Misunderstandings and Further Issues Concerning a Steady-State Economy||365|