Tanstaafl : the economic strategy for environmental crisis

The original impetus for this book came in the form of an invitation to speak on the subject of economics and the environment at the Royalton College Summer Institute for Social Studies, held in July 1970 at South Royalton, Vermont. As I began to prepare for this seminar it became clear to me that the topic had a dual aspect. On the one hand I found myself formulating an ecological critique of economics. The discipline of economics is traditionally devoted to the study of how scarce re sources can best be allocated to fulfill unlimited and competing human desires. In the past it has exhibited a disturbing tendency to overlook or belittle the inefficiencies and irrationalities in resource use arising from the circular interdependence of man, the producer, with his natural environment. This "science of scarcity" has ironically failed to recognize the scarcity of many natural resources, especially those in volved in the disposal of wastes, and has consequently failed to account fully for the costs of production and consumption. Many economic policies, long thought conducive to the improvement of material welfare, clearly need a thorough reexamination in the light of ecological considerations.