Quotes About Steady-state

For what,' I asked, 'is wrong with a steady-state economy?' Their response could almost be described as one of shock-horror, as if I had uttered an obscenity. One of them – my friend, Sydney Epton – said, 'Jim, you must understand that without growth there would be utter chaos; the whole system of modern economics is dependent on growth.' Taken literally, sustainable development simply means growth.

Growth economics gave technology free rein. Steady-state economics channels technical progress in the socially benign directions of small scale, decentralization, increased durability of products, and increased long-run efficiency in the use of scarce resources.