Welfare = Net National Product Lovejoy’s “Foreward”
(rate of return on capital stock)
Total Capital Investment
Net National Product = Hicksian income Lovejoy’s “Foreward”
We’re growing by destroying this.
“The current economic crisis, along with the overwhelming evidence of the impending reorganization of the earth’s climate, and the impending catastrophic loss of biodiversity, calls for a fundamental reorganization of human society.”