Real Life Economics
Paul Ekins, Manfred Max-Neef
Routledge, Oct 19, 2006 - Business & Economics - 488 pages
The past fifty years have witnessed the triumph of an industrial development that has engendered great social and environmental costs. Conventional economics has too often either ignored these costs or failed to analyse them appropriately. This book constructs a framework within which the wider impacts of economic activity can be both understood and ameliorated. The framework places its emphasis on an in-depth understanding of real-life processes rather than on mathematical formalism, sressing the independence of the economy with the social, ecological and ethical dimensions of human life.
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abstraction achieved action alternative analysis approach assumptions basic become behaviour concept concerned construction consumer consumption context costs countries creative culture decision-making defined ecological ecological economics economic system economists effects energy environment environmental functions ethical example experience framework global groups growth household production human needs humanistic economics ibid idea impact important increase indicators individual industrial institutions involved knowledge labour livelihood Manfred Max-Neef Mark Lutz measures monetarized monetary national accounts national income natural capital neoclassical neoclassical economics non-monetary objective organizations output participation Paul Ekins people’s physical physical units political pollution poor population possible potential poverty practical problems programmes progress question reality relations resource accounting result role rural satisfiers sector service economy social society socio-economic statistics structures stylized facts sustainable development technologies understanding valuation wealth welfare