post #2034. Essential quibbles. Economics misses the point.

If the use of fossil fuels are not going to cut be cut sufficiently  (eliminated) to prevent a 3 or 4° rise, are we willing to discuss how such a failure that might  unfold?

If  economy is   embedded in society, that just  means complex  feedback loops between the two. Discussing these feedback loops requires understanding both the economy and society. If you look at economics curricula there is almost nothing about society.

How can it be that the rich are getting richer and the poor are being lifted out of poverty at the same time? Sleight-of-hand.  The  income of the poor is going up, let us agree for the moment, but the prices of real estate,  access to art museums, the fees for national parks,  are all going up more rapidly.

Both the impact of society on economics, and the  impact of economics  on society are mostly left out of our modeling. 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s