Turning point

Author: (USA) Ails, Huang Wenfang
Publisher:
Publish Date: 2001-10-01
Features: Traditional measures of wealth, such as GDP and GNP indices, persist in claiming that we are steadily moving toward greater prosperity. However, evidence shows that the benefits of economic growth and free trade are currently shared by only a small portion of the global population, while the failure of economic structures is pushing most people in industrialized nations into increasing hardship. The values people prioritize—health, education, personal safety—are under immense pressure, and the traditional growth model is posing severe challenges to the environmental carrying capacity. The authors of this book argue that the fundamental structure of the global economy is inherently incapable of providing social welfare to the majority. They analyze the symptoms and causes of economic malaise, as well as the flaws of many deeply entrenched orthodox economic views. They further propose that economic activity should undergo fundamental restructuring, emphasizing services over products, as this is the path to a sustainable future. As a seminal work by one of the most renowned and innovative critics of neoclassical economics, this book is worth reading for economists, entrepreneurs, environmentalists, policymakers, and those concerned with the development of society and the economy.