Ricardo and Morality | 24 comments (24 topical, editorial, 0 hidden)

There's one more guy (none / 0)

Opponents of free trade often point out that the comparative advantage argument for free trade has lost its legitimacy in a globally integrated world--in which capital is free to move internationally. Herman Daly, a leading voice in the discipline of ecological economics, emphasizes that although Ricardo's theory of comparative advantage is one of the most elegant theories in economics, its application to the present day is illogical: "Free capital mobility totally undercuts Ricardo's comparative advantage argument for free trade in goods, because that argument is explicitly and essentially premised on capital (and other factors) being immobile between nations. Under the new globalization regime, capital tends simply to flow to wherever costs are lowest--that is, to pursue absolute advantage."

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Fri Jul 25th, 2008 at 01:03:48 PM EST
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Oh no, he's pretty kooky too (none / 0)

"If you've eaten poison, you must get rid of the substances that are making you ill. Let us then, apply the stomach pump to the doctrines of economic growth that we have been force-fed for decades." [1]
"We cannot have too many people alive simultaneously lest we destroy carrying capacity and thereby reduce the number of lives possible in all subsequent time periods."[citation needed]
"Environmental degradation is an iatrogenic disease induced by economic physicians who treat the basic malady of unlimited wants by prescribing unlimited growth.... Yet one certainly does not cure a treatment-induced disease by increasing the treatment dosage." Daly, H. (2004). The Steady-State Economy. In Eds. S.M. Wheeler and T. Beatley pp.47-52. "The Sustainable Urban Development Reader". Routledge Urban Reader Series. isbn 041531187X
"Current economic growth has uncoupled itself from the world and has become irrelevant. Worse, it has become a blind guide."

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Fri Jul 25th, 2008 at 01:05:34 PM EST
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Ricardo and Morality | 24 comments (24 topical, 0 editorial, 0 hidden)