"System change is now inevitable. Either because we do something about it, or because we will be hit by climate change. '...

"We need to develop economic models that are fit for purpose. The current economic frameworks, the ones that dominate our governments, these frameworks... the current economic frameworks, the neoclassical, the market frameworks, can deal with small changes. It can tell you the difference, if a sock company puts up the price of socks, what the demand for socks will be. It cannot tell you about the sorts of system level changes we are talking about here. We would not use an understanding of laminar flow in fluid dynamics to understand turbulent flow. So why is it we are using marginal economics, small incremental change economics, to understand system level changes?"

Wednesday, January 26, 2011

Another Roberts Toon

h/t Scruffy Dan
more Throbgoblin Desert Isles at this link

1 comment:

Alexander Ac said...

From the previous post -
it is not important at all if the glass is half full, or half empty, but if the glass it being replenished or depleted....