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September 7th, 2009 at 12:53 pm
"""as memories of the Depression faded, economists fell back in love with the old, idealized vision of an economy in which rational individuals interact in perfect markets, this time gussied up with fancy equations""""
"""It is like reading about some religious scheme for interpreting the world and then becoming a true believer, arguing for that point of view as received wisdom – it’s your belief system."""
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Mmmmhhhh, It’s about time a biggun came out and said this. Many ecologists have tried to get this across. Western economic "theories" ignore a might fact: life on this Planet exists because of LAWS OF NATURE, not laws of man (nor Gods). In practice, this means A GROWTH ECONOMY is an ecological dead end. It is survival of the fittest, not domination by the fittest. It’s time more people study the steady state economy.