Jason Hickel writes: Many people were thrilled when they heard that the Economics Nobel went to William Nordhaus, known for his work on climate change. But many climate scientists and ecologists believe that the failure of the world’s governments to pursue aggressive climate action is in large part due to arguments that Nordhaus has advanced.
William Nordhaus’ low-ball estimates of the costs of climate change and high-ball estimates of the costs of containing the threat contributed to a lost decade in the fight against climate change, lending intellectual legitimacy to denial and delay. The IPCC report, released the day Nordhaus got his Nobel, heightens the award’s absurdity, writes Eugene Linden.
From The New Left Review: If fidelity to GDP growth amounts to the religion of the modern world, then Herman Daly surely counts as a leading heretic. Benjamin Kunkel interviews the preeminent figure in ecological economics, and the author of perhaps the most fundamental and eloquently logical case against endless economic growth that’s yet produced.
J.C. Kumarappa was a stalwart of India’s freedom movement, Gandhian economic philosopher, pioneer in the development of village and cottage industries and advocate of a decentralised, localised economy of permanence and freedom. Yet, he remains practically unknown to the present generation of Indians. A tribute to Kumarappa by Pranjali Bandhu, editor of his collected writings.
Ashish Kothari & Aseem Shrivastava write: The growing protests of farmers around the country-last month’s protests in Mumbai being the latest-is not just a claim for dignity. Even more portentously, it calls into question the paradigmatic rationality of the reigning development model. Alternatives do exist, practised and conceived of at hundreds of sites in India.
Nehru’s grand illusion was to imagine that the ‘good’ in the modern world could be somehow magically preserved while allowing the ‘evil seed’ (gluttony of power?) to flourish into a ravishing rainforest of destructive avarice, an inevitability our times are having to face, as barbarism knocks on every door. Gandhi’s fears are globally vindicated today.
The services provided by Nature mostly bypasses markets, escapes pricing and defies valuation. Consider this. A 50-year-old tree provides services like oxygen, water recycling, soil conservation and pollution control worth Rs 23 lakh. Cutting and selling it fetches only Rs 50,000. Yet due to ignorance olf its ecological services, felling a tree seems more profitable.
Gandhi and Kumarappa shared an objective of building a non-violent social and economic order that promoted equity and justice for all. Their understanding led them to conclude that “the only path to true democracy in political life, and to peace among nations” was a decentralised economic and political system where, necessarily, the “rewards were moderate”.
Gana Kedlaya writes: “With India trying to accelerate economic growth and relax forest laws, there is immense pressure to divert forests to non-forests uses. There is a pressing need to undertake an economic valuation of ecosystem services, especially intangible benefits, provided by Indian forests.” professor K.N. Ninan, author of a study on valuing ecosystem services.
From TheWire.in: Ecological economist, Gandhian thinker and author Mark Lindley has some stark warnings for the future of hi-tech societies, and a few ‘prescriptions’ for India and for economists, who he says vastly underestimate the gravity of the looming environmental crises. Ecologise and Graama Seva Sangha recently organised a lecture series by Lindley in Bangalore.
The renowned American ecological economist, Gandhian thinker and author Prof. Mark Lindley will be delivering a series of lectures in Bangalore, starting from 25th. Academic institutions hosting him in the city include IISc, NIAS, Azim Premji University, ATREE and Gandhi Bhavan. The lecture tour is being organised by the Ecologise network and Graama Seva Sangha.
Aniket Motale writes: Many new age economists have realised the limitations of GDP as a measure of development, including a few Nobel Laureates like Joseph Stiglitz. US politician Robert F. Kennedy once criticised GDP saying, “It measures everything, except that which makes life worthwhile “. Let’s take a closer look at the arguments against GDP.
Cerana Foundation, Hyderabad recently hosted a talk on the topic ‘Amartya Sen and Ecological Economics‘, delivered by Mark Lindley, academic and author. To view a video recording of the talk, click below. [youtube http://www.youtube.com/watch?v=tUIj4iHINR4&w=560&h=315] Synopsis: Distinctive features of main three phases of 20th-century economic theory were: (1) positing two basic factors of production (labour, capital),