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The Wealth of Nature: How Mainstream Economics Has Failed the Environment by Robert Nadeau (Hardcover, 2003)

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Strangely enough, this claim was widely accepted and the fact that neoclassical economics originated in a bastardization of mid-nineteenth-century physics was soon forgotten. Author: Robert L. Nadeau.

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Virtually all large-scale damage to the global environment is caused by economic activities, and the vast majority of economic planners in both business and government coordinate these activities on the basis of guidelines and prescriptions from neoclassical economic theory. In this hard-hitting book, Robert Nadeau demonstrates that the claim that neoclassical economics is a science comparable to the physical sciences is totally bogus and that our failure to recognize and deal with this fact constitutes the greatest single barrier to the timely resolution of the crisis in the global environment. Neoclassical economic theory is premised on the belief that the invisible hand ? Adam Smith's metaphor for forces associated with the operation of the natural laws of economics ?regulates the workings of market economies. Nadeau reveals that Smith's understanding of these laws was predicated on assumptions from eighteenth-century metaphysics and that the creators of neoclassical economics incorporated this view of the lawful mechanisms of free-market systems into a mathematical formalism borrowed wholesale from mid-nineteenth-century physics. The strategy used by these economists, all of whom had been trained as engineers, was as simple as it was absurd?they substituted economic variables for the physical variables in the equations of this physics. Strangely enough, this claim was widely accepted and the fact that neoclassical economics originated in a bastardization of mid-nineteenth-century physics was soon forgotten. Nadeau makes a convincing case that the myth that neoclassical economic theory is a science has blinded us to the fact that there is absolutely no basis in this theory for accounting for the environmental impacts of economic activities or for positing viable economic solutions to environmental problems. The unfortunate result is that the manner in which we are now coordinating global economic activities is a program for ecological disaster, and we may soon arrive at the point where massive changes in the global environment will threaten the lives of billions of people. To avoid this prospect, Nadeau argues that we must develop and implement an environmentally responsible economic theory and describes how this can be accomplished.

Product Identifiers

Publisher
Columbia University Press
ISBN-13
9780231127981
eBay Product ID (ePID)
96693665

Product Key Features

Author
Robert Nadeau
Publication Name
The Wealth of Nature: How Mainstream Economics Has Failed the Environment
Format
Hardcover
Language
English
Subject
Economics
Publication Year
2003
Type
Textbook
Number of Pages
336 Pages

Additional Product Features

Title_Author
Robert Nadeau
Country/Region of Manufacture
United States

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item 1 Robert L. Nadeau The Wealth of Nature (Hardback) (US IMPORT)
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item 2 The Wealth of Nature: How Mainstream Economics Has Failed the Environment by Rob
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The Wealth of Nature: How Mainstream Economics Has Failed the Environment by Robert Nadeau (Hardcover, 2003)

About this product

Product Information

Product Identifiers

Product Key Features

Additional Product Features

All listings for this product

item 1 Robert L. Nadeau The Wealth of Nature (Hardback) (US IMPORT)

item 2 The Wealth of Nature: How Mainstream Economics Has Failed the Environment by Rob

Best Selling in School Textbooks & Study Guides

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Conversations with Nostradamus: Volume 2: His Prophecies Explained by Dolores Cannon (Paperback, 1992)

Tracks, Scats and Other Traces: Reissue by Barbara Triggs (Paperback, 2004)

Chaos by James Gleick (Paperback, 1997)

Save on School Textbooks & Study Guides

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Viktor Schauberger The Water Wizard (Paperback)

Mrs Wordsmith Phonics Blah Blah Blah Card Game, Ages 4-7 (Early Years and Key St

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