The Innate Nature of Economics - Economics and Ecology: United for a Sustainable World - page 35

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The Innate NatureofEconomics
It should be abundantly clear after Section I of this topic that we, the authors,
have serious criticisms not only of economics as a discipline but also of the
prevailing economic thinking and perspectives as the economy has evolved.
The next several chapters explore these perspectives in much greater depth.
It is appropriately symbolic that, as coauthors, we are an economist (RB)
and a biologist (CM), because another way of viewing the intended critique
in this central section of the topic is twofold: as an “internal” evaluation
on one hand and an “external” assessment on the other. The task before us
requires the balanced perspectives of both an economist and an ecologist—
the biophysical systems that supply the energy for the economic system and
the economic principles that use and distribute that energy in the most equi-
table and sustainable manner possible.
By an internal evaluation, we mean efforts to discuss the structure of
economic theory. The central question becomes “how does the practice of
economics, as a discipline, lead to policies, actions, and perspectives that
result in environmental destruction and resource depletion, both of which
are counter to the goals and biophysical principles of sustainability?” An
obvious example might be the orientation of conventional methodology to
economic growth as an unquestioned and positive goal—something that is
embedded in certain branches of economic theory and analysis, regardless
of how that principle is employed in practice.
An external evaluation, on the other hand, pertains to the evolution of eco-
nomic society and the creation of a dominant materialistic and acquisitive
culture. Here, economic methodology plays only a background role. To be
sure, virtually all real-world economic initiatives, projects, and in fact the
mindsets of any community, region, or nation owe their genesis to actual
economic principles drawn from the discipline, which should not remain
blameless. In other words, economic practices are often used to interpret
economic principles to achieve a desired but nonsustainable outcome.
Nonetheless, problems arising in this arena stem mainly from human val-
ues, attitudes, and behaviors rather than from economic theory.
Of course, there can be two situations wherein we observe destructive or
inhumane actions within economic society. First, the philosophy support-
ing—even propelling—such efforts can honestly purport to follow an incor-
rect economic principle. Second, practitioners can incorrectly interpret an
economic principle, which is not solely to blame. In the first case, economic
methodology may be said to be the problem, and in the second, the fault lies
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