Chapter 3: Simple Physical Model of Nature and Economy
Chapter 4: Subsystem Model of the Economy
Chapter 5: Rationale for an Economics of a Crowded Planet
Part II: Where Is Economics Now?
Chapter 6: Economic Orthodoxy and Emerging Pluralism
Chapter 7: The Economics of Nature
Chapter 8: Conventional Economics On a Crowded Planet
Part III: Where Does Economics Need to Be?
Chapter 9: Framework for an Economics of a Crowded Planet
Chapter 10: Requirements for a Future Economics
Fraser Murison Smith is an energy specialist in public utilities, formerly an information systems consultant and award-winning cleantech entrepreneur. After completing a PhD in theoretical ecology at Oxford University, he was a postdoctoral fellow at Stanford University in ecological economics. He has published papers on fisheries, biodiversity and economic development, as well as a book, Environmental Sustainability: Practical Global Implications (1997). Fraser and his wife, a healthcare technology leader, share their home in Northern California with two wonderful young children and a canoe and tent on standby for spontaneous forays into the surrounding mountains, rivers and lakes.
This book asks the question, how would economics look today and into the future if one started with a blank sheet of paper? Written mainly for a technical audience, yet accessible to the lay reader, Economics of a Crowded Planet addresses the ontology, epistemology and methodology of a future economics as if from outside the economy looking in. It presents a conceptual framework for a future economics drawing from systems science and hierarchy theory, integrating central concepts from present-day economics, so as to orient the field in a direction that can serve society’s future needs in practical ways.
The exposition reveals a paradigm called ‘market collectivism’: the idea that the power of markets may be used to steer the economy toward a desired long-term goal. Both a prescriptive doctrine and an economic methodology, it treats the economy and nature as instances of complex, evolutionary systems, demanding analytical tools quite unlike those of the 20th-century mainstream.