| Economic system challenges Question1 #5688 Economic system challenges |
Herman Daly: Growth in GNP should cease when decreasing marginal benefits become equal to increasing marginal costs. But there is no statistical series that attempts to measure the cost of GNP . This is growth mania, literally not counting the costs of growth. But the situation is even worse. We take the real costs of increasing GNP as measured by the defensive expenditures incurred to protect ourselves from the unwanted side effects of production and add these expenditures to GNP rather than subtract them. We count real costs as benefits. This is hypergrowthmania.
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