Once a branch of moral philosophy economics evolved to represent the mind set of a money economy ... more Once a branch of moral philosophy economics evolved to represent the mind set of a money economy and of its elite. It became akin to a religion in which scarcity is conceptualised as the origin of all problems and salvation lies in technical progress which is seen as "progress" measured in increased production and "economic growth". However the conceptualisation in money valuations mostly the way that economic activity is emboddied and embedded in energetic, physical, chemical and ecological processes such that so called "externalities" are in fact ubiquitous features of all economic activity. The market society is also quite literally "displaced", uprooting the long run connection between communities and places that characterise indigenous societies which are necessary for ecological management over the long term. The resultant system is unsustainable and as the growth process crashes against limits it also leads to increasing vulnerability in financial, economic and political institutions.
Once a branch of moral philosophy economics evolved to represent the mind set of a money economy ... more Once a branch of moral philosophy economics evolved to represent the mind set of a money economy and of its elite. It became akin to a religion in which scarcity is conceptualised as the origin of all problems and salvation lies in technical progress which is seen as "progress" measured in increased production and "economic growth". However the conceptualisation in money valuations mostly the way that economic activity is emboddied and embedded in energetic, physical, chemical and ecological processes such that so called "externalities" are in fact ubiquitous features of all economic activity. The market society is also quite literally "displaced", uprooting the long run connection between communities and places that characterise indigenous societies which are necessary for ecological management over the long term. The resultant system is unsustainable and as the growth process crashes against limits it also leads to increasing vulnerability in financial, economic and political institutions.
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