January 30, 2010

The Hamster That Ate The World lol

A must see British video clip that illustrates the seminal idea upon which Herman Daly built his model of Steady State Economics (SSE). It is also important to remember that Mr. Daly never gave himself the credit for the idea, he always stressed that he borrowed the concept; or rediscovered it if you will; from the work of JS Mill.


Epicurus said...

How about if the population stops growing? Will there be a need to keep the economies growing?

How about the dream of the less developed countries to catch up to the richer ones?

It's hard to see population declining by choice (sans wars & famines) in the near future.

ghassan karam said...

Population will not decrease anytime soon globally, although the rate of increase has been cut in half over the past 50 years.
But it is important to note that most of the developed world with the exception of the US has a slightly decreasing level of population.
But your observation is correct; SSE rests on two pillars (1) a constant level of population and (2) a constant level of physical output.