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We need a new economics with the Earth at its core

Even reformist economists too often forget the lesson of nature—growth cannot go on forever

By Kate Raworth   August 2018

An environmental externality? Photo: © NEENAWAT KHENYOTHAA/REX SHUTTERSTOCK

A raging debate about economics has kicked off after Howard Reed suggested in Prospect’s May issue that we need to “rip it up and start again.” Fierce resistance has come from academics who insist that such critics ignore what economists really do. My concern lies not with what economists do—many do excellent and innovative research—but with what economists teach, especially in introductory courses.

Most people who study economics only study a little before becoming politicians, journalists, civil servants, executives, lawyers and…

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