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Growth, the Environment and Keynes: Reflections on Two Heterodox Schools of Thought

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Author Info
Clive L Spash
Heinz Schandl () (CSIRO Sustainable Ecosystems, Australia)

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Abstract

This 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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File URL: http://www.csiro.au/files/files/pns9.pdf
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File Function: First version, 2009
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Publisher Info
Paper provided by CSIRO Sustainable Ecosystems in its series Socio-Economics and the Environment in Discussion (SEED) Working Paper Series with number 2009-01.

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Length: 44 pages
Date of creation: Jan 2009
Date of revision:
Handle: RePEc:cse:wpaper:2009-01

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Related research
Keywords: environment; Keynes; post keynesian; ecological economics;

Other versions of this item:

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

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Schandl, Heinz & Schulz, Niels, 2002. "Changes in the United Kingdom's natural relations in terms of society's metabolism and land-use from 1850 to the present day," Ecological Economics, Elsevier, vol. 41(2), pages 203-221, May. [Downloadable!] (restricted)
  2. Clive L. Spash, 1999. "The Development of Environmental Thinking in Economics," Environmental Values, White Horse Press, vol. 8(4), pages 413-435, November. [Downloadable!] (restricted)
  3. Soderbaum, Peter, 1999. "Values, ideology and politics in ecological economics," Ecological Economics, Elsevier, vol. 28(2), pages 161-170, February. [Downloadable!] (restricted)
  4. Brennan, Andrew John, 2008. "Theoretical foundations of sustainable economic welfare indicators -- ISEW and political economy of the disembedded system," Ecological Economics, Elsevier, vol. 67(1), pages 1-19, August. [Downloadable!] (restricted)
  5. Sneddon, Chris & Howarth, Richard B. & Norgaard, Richard B., 2006. "Sustainable development in a post-Brundtland world," Ecological Economics, Elsevier, vol. 57(2), pages 253-268, May. [Downloadable!] (restricted)
  6. Earl, P.E., 1990. "Economics And Psychology: A Survey," Papers 1990-04, Tasmania - Department of Economics.
    Other versions:
  7. Spash, Clive L. & Villena, Mauricio G., 1999. "Exploring the Approach of Institutional Economics to the Environment," MPRA Paper 17278, University Library of Munich, Germany. [Downloadable!]
  8. Jonathan Aldred, 2006. "Incommensurability and Monetary Valuation," Land Economics, University of Wisconsin Press, vol. 82(2), pages 141-161. [Downloadable!] (restricted)
  9. Heinz Schandl & Marina Fischer-Kowalski & Clemens Grunbuhel & Fridolin Krausmann, 2008. "Socio-metabolic Transitions in Developing Asia," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2008-05, CSIRO Sustainable Ecosystems. [Downloadable!]
  10. Krausmann, Fridolin & Schandl, Heinz & Sieferle, Rolf Peter, 2008. "Socio-ecological regime transitions in Austria and the United Kingdom," Ecological Economics, Elsevier, vol. 65(1), pages 187-201, March. [Downloadable!] (restricted)
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  11. Common, Mick & Perrings, Charles, 1992. "Towards an ecological economics of sustainability," Ecological Economics, Elsevier, vol. 6(1), pages 7-34, July. [Downloadable!] (restricted)
  12. Peter E. Earl, 2005. "Economics and psychology in the twenty-first century," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 909-926, November. [Downloadable!] (restricted)
  13. Lawson, Tony, 1989. "Abstraction, Tendencies and Stylised Facts: A Realist Approach to Economic Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 13(1), pages 59-78, March.
  14. Alessandro Roncaglia, 2003. "Energy and market power: an alternative approach to the economics of oil," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(4), pages 641-659, July. [Downloadable!] (restricted)
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