How, Economically, We’re Fucked

Economists believe the equivalent of the sun going around the Earth, with far worse consequences

indi.ca
8 min readMay 16, 2023

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When Dr. Herman Daly was working at the World Bank, his assistants brought him this diagram, showing the standard firms/households model of the economy. Resources go in, products come out, GDP goes up, whoopty-doo. As Dr. Tom Murphy tells the story:

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indi.ca

Indrajit (Indi) Samarajiva is a Sri Lankan writer. Follow me at www.indi.ca, or just email me at indi@indi.ca.