Most estimates of wealth today are based upon gross domestic product, and many economists even see future wealth being created free of the constraints set by natural resources. Eric Davidson, scientist at the Woods Hole Research Center, calls such thinking "Marie Antoinette economics" and reveals its grave underlying fallacies. In valuing land or forests, for instance, we tend to discount their future value for our own children; in analyzing costs and benefits, the price of these natural resources upon which we ultimately ...
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Most estimates of wealth today are based upon gross domestic product, and many economists even see future wealth being created free of the constraints set by natural resources. Eric Davidson, scientist at the Woods Hole Research Center, calls such thinking "Marie Antoinette economics" and reveals its grave underlying fallacies. In valuing land or forests, for instance, we tend to discount their future value for our own children; in analyzing costs and benefits, the price of these natural resources upon which we ultimately depend is usually wrong; and damages to these resources are seen as "externalities." Davidson exposes these fallacies and offers a blueprint for a truly sustainable economy.
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Seller's Description:
Very Good. Very Good condition. A copy that may have a few cosmetic defects. May also contain a few markings such as an owner's name, short gifter's inscription or light stamp.
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Very good. Open Books is a nonprofit social venture that provides literacy experiences for thousands of readers each year through inspiring programs and creative capitalization of books.
Here's a book for the majority of us who want to know more about how the economy works without all the big intellectual theories. What I especially value learning is about the hidden costs of industrial production. When the small organic farmer brings his fruits and vegetables to market, for example, he has to charge you what it cost him to produce them plus a profit or he will not be able to stay in business. The amount of the profit is where supply and demand come in. However, industrial producers don't pay for the costs of production in this straightforward way. They have various subsidies and economies of scale that remove the ability of the consumer to calculate the reason items imported from another continent cost less than those from the next county. Very interesting.