Many of the worst environmental and social problems that we currently face can be traced to root causes in our economic system — in particular to issues of unsustainable scale, unfair distribution, and inefficient allocation. Ecological economics is particularly concerned with sustainable scale and fair distribution, while mainstream (or neoclassical) economics is much more concerned with efficient allocation. In this lecture, Dan O’Neill explains the difference between allocation, distribution, and scale, and the types of policies that are needed to address them.
Efficient Allocation, Fair Distribution, and Sustainable Scale = Ecological Economics?
Attribution: Samrat Bharadwaj