Infinite planet theory

24 05 2011

Rob Dietz over at the Centre for the Advancement of the Steady State Economy (CASSE) just e-mailed me and suggested I reproduce a recent post of theirs on Rob has produced a cracker – very funny, but ‘reality’ usually is. Many thanks, Rob, for a fine piece of writing.

Few people have read the dense volumes published by the economist Milton Mountebank, but his work has affected you, me and every single person on the planet. Dr. Mountebank has revolutionized economic thought, and now he has been recognized for his singular efforts. Yesterday at a gala reception in Stockholm, Sweden, the chairman of Sveriges Riksbank, Peter Norborg, presented Dr. Mountebank with the Nobel Prize in Economics for his lifetime of work on infinite planet theory.

In his presentation of the award, Mr. Norborg stated, “Dr. Mountebank has demonstrated imagination and inventiveness beyond what the rational mind can comprehend.” Indeed, it is because of his theories that we all do what we do economically. Nations strive for continuous GDP growth and endless expansion of consumption thanks to infinite planet theory. Mr. Norborg went on to say, “All of our banks, including Sveriges Riksbank, owe him a huge debt. We finance economic expansion. Our actions and decisions would be morally suspect if we lived on a finite planet.”

In a light-hearted moment during the presentation, Mr. Norborg asserted that Dr. Mountebank had provided an even greater service to humanity by reducing stress on individuals. “Best of all,” he said, “is that we can extract, consume and digest resources guilt-free. Planetary constraints have been conquered. They have gone the way of the dodo, the Roman Empire and the world’s major fisheries.” Read the rest of this entry »

Unbounded economic growth destroying biodiversity

16 08 2010

…we can’t have more of everything instantaneously

…increasing takeover of the ecosystem is the necessary consequence of the physical growth of the macroeconomy

…consider telling the economist to go to hell

Herman Daly

© M. Leunig

Last month I had the privilege of listening to Rob Dietz of the Centre for Advancement of the Steady State Economy (CASSE) when attending the 2010 International Congress for Conservation Biology. He introduced the CASSE and their mandate – to promote stable or mildly fluctuating levels in population and consumption of energy and materials. This is the steady-state economy.

I’ve hinted before that our essentially linear economy (natural resource exploitation -> transport -> manufacturer -> redistribution -> sale -> consumption/use -> disposal (discussed in a very easy-to-understand way in the Story of Stuff) is not sustainable in the long term because of the finite resource base of the planet (think trees, coal, oil, arable land). My colleagues and I have even shown analyses based on hard data demonstrating that total wealth is the ultimate driver of environmental degradation at the country scale.

So, it is my opinion (and a growing number of others‘) that we need a new way of measuring economic prosperity, or the world will enter a state of permanent financial crisis. The mantra of constant economic growth is simply unrealistic as our human populations continue to expand. This is a very simplistic statement and on the surface an apparently impossible goal; however, people who put together the CASSE believe it is achievable.

It is for this reason that I have been communicating with Rob Dietz and others at CASSE about reposting some of their excellent essays on Please feel free to comment here on the subject matter because the CASSE people will be monitoring. I hope we can expand the readership and support base, and eventually start to convince politicians that growth will eventually kill us and a good slice of the planet’s biodiversity.

So with that, here’s the first repost by Professor Herman Daly entitled “Opportunity Cost of Growth“: Read the rest of this entry »