Supply Shock: Economic Growth at the Crossroads and the Steady State Solution

Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy. Starting with a refreshingly accessible, comprehensive critique of economic growth, the author engages readers in an enormous topic that affects everyone in every country. Publishers Weekly favorably compared Brian Czech to Carl Sagan for popularizing their difficult subjects; Supply Shock shows why. Czech presents a compelling alternative to growth based on keen scientific, economic, and political insights including: The "trophic theory of money" The overlooked source of technological progress that prevents us from reconciling growth and environmental protection Bold yet practical policies for establishing a steady state economy Supply Shock leaves no doubt that the biggest idea of the twentieth century—economic growth—has become the biggest problem of the twenty-first. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages. Brian Czech is the founder of Center for the Advancement of the Steady State Economy (CASSE), the leading organization promoting the transition from unsustainable growth to a new economic paradigm.

Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy.

Starting with a refreshingly accessible, comprehensive critique of economic growth, the author engages readers in an enormous topic that affects everyone in every country. Publishers Weekly favorably compared Brian Czech to Carl Sagan for popularizing their difficult subjects; Supply Shock shows why.

Czech presents a compelling alternative to growth based on keen scientific, economic, and political insights including:

• The "trophic theory of money"
• The overlooked source of technological progress that prevents us from reconciling growth and environmental protection
• Bold yet practical policies for establishing a steady state economy

Supply Shock leaves no doubt that the biggest idea of the twentieth century—economic growth—has become the biggest problem of the twenty-first. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages.

Brian Czech is the founder of Center for the Advancement of the Steady State Economy (CASSE), the leading organization promoting the transition from unsustainable growth to a new economic paradigm.

Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy. Starting with a refreshingly accessible, comprehensive critique of economic growth, the author engages readers in an enormous topic that affects everyone in every country. Publisher's Weekly favorably compared Czech to Carl Sagan for popularizing their difficult subjects; Supply Shock shows why. Czech presents a compelling alternative to growth based on keen scientific, economic, and political insights including: The "trophic theory of money" The overlooked source of technological progress that prevents us from reconciling growth and environmental protection Bold yet practical policies for establishing a steady state economy. Supply Shock leaves no doubt that the biggest idea of the 20th century – economic growth – has become the biggest problem of the 21st. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages. Front Cover 1 Praise 2 Title Page 8 Rights Page 9 Contents 10 Foreword 12 Preface 16 Part 1: Economic Growth at the Crossroads 20 Chapter 1: It Really Is the Economy, “Stupid!” 22 Chapter 2: Good Growing Gone Bad 42 Part 2: The Dismal Science Comes Unhitched 68 Chapter 3: Classical Economics: Dealing with the Dismal 70 Chapter 4: “Neoclassical” Economics: Dealing with the Devil 94 Chapter 5: Not of This Earth 136 Part 3: Economics For a Full World 154 Chapter 6: Ecological Economics Comes of Age 156 Chapter 7: Don’t Sell the Farm: The Trophic Theory of Money 190 Chapter 8: Technological Progress and Less-Brown Growth 214 Part 4: Politics and Policy: The Horse Before the Cart 242 Chapter 9: “What Have You Done for Growth Today?” 244 Chapter 10: Hummer Haters: The Steady State Revolution Revisited 278 Chapter 11: A Call for Steady Statesmen: Policies for a Full-World Economy 294 Notes 348 Literature Cited 366 Index 378 About the Author 386 A Guide to Responsible Digital Reading 387 Back Cover 389 "Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy. Supply Shock leaves no doubt that the biggest idea of the 20th century? economic growth? has become the biggest problem of the 21st. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages"--Résumé de l'éditeur "Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy. Supply Shock leaves no doubt that the biggest idea of the 20th century ? economic growth ? has become the biggest problem of the 21st. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages" --Publisher.