Overview

This book argues that the major economic problems of the present century involve issues of public goods and common pool resources with which orthodox economic theory, based as it is on private markets, is ill-equipped to deal. It therefore makes the case for a new perspective on economic theory and practice, which employs the concept of sustainability as its organising principle. In particular, the book argues: That late-twentieth-century libertarian economics is inadequate for the needs of the twenty-first century; That Keynesian macroeconomics and utilitarian welfare economics, while adequate to these needs in some degree, needs augmentation to deal with twenty-first century challenges such as resource scarcity and climate change; That it is not possible either in theory or in practice to separate economics from political ideology; That an economics adequate for the twenty-first century requires a foundation of ecological principles and greater respect for the laws on natural science, and that this economics will be a 'political economy', which, while not neglecting the importance of markets, emphasises in addition both deliberative democratic processes and environmental human rights.

Full Product Details

9780415524407

Table of Contents

Reviews

'Nobbs has provided a scholarly and well referenced integration of economic theory with ethics, all within the context of ecological economics and the biophysical limits to the scale of the human economy, most specifically exemplified by climate change. A fine contribution to building bridges between different modes of thinking.' - Herman E. Daly, Professor Emeritus, School of Public Policy, University of Maryland, USA. 'Nobbs's book helps us better understand the current landscape of contemporary economics and its intellectual vicinity, while outlining a thought-provoking proposal about how we should be thinking and doing economics in the 21st century. Yet at the same time the book sets the stage for an informed discussion about the variety of possible alternatives that may not take the direction Nobbs advocates.' - Paul Dragos Aligica, Erasmus Journal for Philosophy and Economics

'Nobbs has provided a scholarly and well referenced integration of economic theory with ethics, all within the context of ecological economics and the biophysical limits to the scale of the human economy, most specifically exemplified by climate change. A fine contribution to building bridges between different modes of thinking.' - Herman E. Daly, Professor Emeritus, School of Public Policy, University of Maryland, USA. 'Nobbs's book helps us better understand the current landscape of contemporary economics and its intellectual vicinity, while outlining a thought-provoking proposal about how we should be thinking and doing economics in the 21st century. Yet at the same time the book sets the stage for an informed discussion about the variety of possible alternatives that may not take the direction Nobbs advocates.' - Paul Dragos Aligica, Erasmus Journal for Philosophy and Economics

'Nobbs has provided a scholarly and well referenced integration of economic theory with ethics, all within the context of ecological economics and the biophysical limits to the scale of the human economy, most specifically exemplified by climate change. A fine contribution to building bridges between different modes of thinking.' -- Herman E. Daly, Professor Emeritus, School of Public Policy, University of Maryland, USA.

Author Information

Christopher L. Nobbs is a freelancer writer and researcher. He has previously worked in the Commonwealth Department of Health and Ageing, Canberra, and as the Director of Rush Social Research (continuing as Colmar Brunton Social Research (1998-2000)).

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