Tuesday, July 17, 2012

I wrote recently about my efforts to get a discussion going on (the end of ) Economic Growth by contacting various news and current affairs programmes. I even sent a piece to Irish Economy Blog inviting the economists to respond to the challenge but nothing has appeared. The only thing I did pick up was a quote there “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greater good of everyone.” (John Maynard Keynes).
I have started on Charles Hall's new book "Energy the Wealth of Nations " which makes a powerful attack on neoclassical economics as well as outlining what he considers to be a proper approach to economics. Hall is a scientist of high standing who has developed the concept of EROI, energy return on energy invested, which is basic to any understanding of energy systems and has applied it to many energy sources. For a sample of his thoughts see
http://www.esf.edu/efb/hall/documents/CEVol37No4-5_EndofFBEconomics.pdf
which is a scathing review of neoclassical economics.
His book is rather expensive though; it is conceived as an alternative text book on economics.

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