TAG: Industrial economy

A History Of Wealth

History of Wealth

Some say it all started with the industrial revolution. Others lay blame directly at the feet of a certain forefather of modern economics, the Scottish moral philosopher and economist Adam Smith. With the publication in 1776 of his book, An Inquiry into the Nature and Causes of the Wealth of Nations, it’s quite possible that Smith set in motion the modern way of thinking about wealth. At the time Smith’s seminal economic philosophy was published, the world (in particular, Britain and Europe) was in a state of turmoil. Change was everywhere. Once the denizens of absolute power, the Church and aristocracy… read more

A New Kind of Economy

Green-Economy-Hand-Shake

The essence of a Green economy – genuine well-being – subscribes to dimensions in Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations, 1776 that reach beyond the rampaging misuse of his economic treatise through modern industrialisation. You see, Adam Smith was a keen observer of human nature. In 1759, while Professor of Moral Philosophy at the University of Glasgow, Smith published The Theory of Moral Sentiments. In this work, he identified the individual conscience and “fellow feeling” (ie. sympathy with others) as the requisite balance to self-love. He believed that in the pursuit of… read more

We Can’t Go On Like This

over-spending

In the face of rising debt levels and environmental degradation, many writers now argue that economic progress (as we currently know it) is destined for collapse. They claim that it is – by its nature – doomed. This is shocking news for people who live to shop or who view television as the panacea to unhappiness. Is it possible that the over-spending, over-consuming, credit-card lifestyle of our contemporary age is on a trajectory to oblivion? Despite threatening the ecosystems upon which it depends, the overblown expression of human self-interest known as economic development (aka modern wealth) perpetuates a vision for… read more

Is This As Good As It Gets?

As Good As It Gets?

The era of the industrial economy is destined to meet its end. Paul Ekins highlights in Wealth Beyond Measure (1992), the nature and cause of modern economic development will be the system’s own undoing. It may indeed be doomed to collapse. Some writers argue that few people would benefit from such a collapse; while others counter-argue that the collapse of the modern economy is necessary for the benefit of all. But if our current economic framework is the cause for our environmental and social ills, then is it not worth asking what alternatives might exist?How might we envision a new… read more