Growth, the Environment and Keynes: Reflections on Two Heterodox Schools of Thought
AbstractThis paper explores the approach of Post Keynesian Economics (PKE) in comparison with ecological economics. While PKE, like all macroeconomics, has failed to address environmental problems it does have many aspects which make compatibility with ecological economics seem feasible. Ecological economics has no specific macroeconomic approach although it has strong implications for economic growth and how this should be controlled, directed and in materials terms limited. We highlight growth as the key area of difference and reflect upon how Keynes himself saw capital accumulation as a means to an end not an end in itself, regarded it as a temporary measure and also was well aware of some of its psychological and social drawbacks.
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Bibliographic InfoPaper provided by CSIRO Sustainable Ecosystems in its series Socio-Economics and the Environment in Discussion (SEED) Working Paper Series with number 2009-01.
Length: 44 pages
Date of creation: Jan 2009
Date of revision:
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More information through EDIRC
environment; Keynes; post keynesian; ecological economics;
Find related papers by JEL classification:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-17 (All new papers)
- NEP-ENV-2009-01-17 (Environmental Economics)
- NEP-HPE-2009-01-17 (History & Philosophy of Economics)
- NEP-MAC-2009-01-17 (Macroeconomics)
- NEP-PKE-2009-01-17 (Post Keynesian Economics)
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