1997 Series 1 Number 22 Page 23
A Response and a Reflection on the Concept Paper “The Whole Economy.”
Diana Smith, Catherine Starrs, and Gail Stewart had recently had an article of theirs published in the CACOR Proceedings (“The Whole Economy: A Concept Paper) in 1996. Mr. John McRuer wrote “The Whole Economy”: A Response. Dr. Tom de Fayer, CACOR member since 1974, wrote Reflections on the Concept paper “The Whole Economy.” The two letters were published together.
Mr. McRuer applauded the boldness of Smith et al., but he found they did not go far enough in their criticisms of the discipline of economics. In particular, he felt they should have dealt with the structural drivers of an economy: technology and ecology. If those two drivers are ignored, social concerns (which preoccupied Smith et al.) will become irrelevant. [McRuer here refers to collapse.]
Dr. de Fayer developed a sense throughout his career that the world is far too complex to understand. Thus, he was dissatisfied with what Smith et al. presented. He felt we have limited understanding of the Universe and are quite arrogant in believing we know anything is any of our sciences, let alone the science (or art) of economics.
Link to | A Response and a Reflection on the Concept Paper ‘The Whole Economy.’.
[The original paper by Smith et al. is being prepared for inclusion in the CACOR Archives.]
McRuer died in 2009. The link below is to his obituary.
de Fayer died in 1999. The link below is to his obituary.
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