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[This chapter outlines the current and projected material scale of the economy: its inputs from, and outputs to, nature. The modern economy is materially so large that it alters natural processes, and is affected by them in turn. Nature and the economy coevolve. This unique situation has arisen through a cycle of credit, technology and population growth within human society, spreading over the past 500 years from Europe to the rest of the world. For the economy to persist in the long run, it must become materially much more efficient, through a program of material discipline: the material equivalent of fiscal discipline. This will necessitate recirculating most of the economy’s material internally. We already have the physical technologies to do this, but not yet the social technologies. This book outlines the kinds of social technologies that will be needed.]
Published: Aug 28, 2020
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