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Series | The Need for a New Economic System, Part 2: Entropy and Economics

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In the future, the only way that we can avoid economic collapse is to build a steady-state economy. There exists much literature on how this can be achieved, and these writings ought to become a part of the education of all economists and politicians.

John Scales Avery, Countercurrents.org

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31VZKSO24bL._SX351_BO1,204,203,200_.jpghttp://ecx.images-amazon.com/images/I/31VZKSO24bL._SX351_BO1,204,203,200... 27 July, 2015 | Part 1 of this series of articles documented the world's urgent need for a reformed economic system. Here are a few more links that underline the pressing need for change.

 

We urgently need to shift quickly from fossil fuels to renewable energy if we are to avoid a tipping point after which human efforts to avoid catastrophic climate change will be futile because feedback loops will have taken over. The dangerous methane hydrate feedback loop is discussed in an excellent short video made by Thom Hartmann and the Leonardo DiCaprio Foundation.

Celebrated author and activist Naomi Klein has emphasized the link between need for economic reform and our urgent duty to address climate change.

Rebel economist Prof. Tim Jackson discusses the ways in which our present economic system has failed us, and the specific reforms that are needed. In one of his publications, he says: “The myth of growth has failed us. It has failed the two billion people who still live on $2 a day. It has failed the fragile ecological systems on which we depend for survival. It has failed, spectacularly, in its own terms, to provide economic stability and secure people's livelihood.”

John Scales Avery is a theoretical chemist noted for his research publications in quantum chemistry, thermodynamics, evolution, and history of science. Since the early 1990s, Avery has been an active World peace activist. 

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Series | The Need for a New Economic System, Part 1: Limits to Economic Growth

It is obvious that on a finite Earth, neither population growth nor economic growth can continue indefinitely.