IDEAS home Printed from https://ideas.repec.org/a/pal/easeco/v38y2012i3p283-295.html
   My bibliography  Save this article

Dilemmas of Economic Growth

Author

Listed:
  • Duncan K Foley

    () (New School for Social Research, Department of Economics, 6 East 16th, New York, NY 10003, USA.)

Abstract

Geo-scientists and economists carry on discussions of central problems of economic growth, including global warming and resource exhaustion, on the basis of sharply diverging assumptions about limits to economic growth. These divergent assumptions can be traced at least to the debate over N. Georgescu-Roegen's work on entropy and economic production. Limited evidence indicates that economic growth sufficient to raise world average productivity to current European standards is at the edge of feasibility in terms of renewable energy. Rosy expectations that information technology can produce a “new” economy not subject to the resource and social limitations of traditional capitalism confuse new methods of appropriation of surplus value as rent with new methods of producing value. While the world economy will almost certainly transform from the small population, low labor productivity, rich fossil fuel-based resource base of the industrial revolution to a large population, high productivity, resource limited pattern, the social relations accompanying this change are far from certain or determined.

Suggested Citation

  • Duncan K Foley, 2012. "Dilemmas of Economic Growth," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 38(3), pages 283-295.
  • Handle: RePEc:pal:easeco:v:38:y:2012:i:3:p:283-295
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/eej/journal/v38/n3/pdf/eej201210a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: http://www.palgrave-journals.com/eej/journal/v38/n3/full/eej201210a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rezai, Armon & Taylor, Lance & Mechler, Reinhard, 2013. "Ecological macroeconomics: An application to climate change," Ecological Economics, Elsevier, vol. 85(C), pages 69-76.
    2. repec:eee:ecolec:v:146:y:2018:i:c:p:164-172 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:easeco:v:38:y:2012:i:3:p:283-295. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.palgrave-journals.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.