“In neo-classical economic theory, it is claimed without evidence that people are basically self-seeking, that they want above all the satisfaction of their material desires: what economists call "maximising utility". The ultimate objective of mankind is economic growth, and that is maximized only through raw, and lightly regulated, competition. If the rewards of this system are spread unevenly, that is a necessary price. Others on the planet are to be regarded as either customers, competitors or factors of production. Effects upon the planet itself are mere "externalities" to the model, with no reckoning of the cost - at least for now. Nowhere in this analysis appears factors such as human cooperation, love, trust, compassion or hatred, curiosity or beauty. Nowhere appears the concept of meaning. What cannot be measured is ignored. But the trouble is that once our basic needs for shelter and food have been met, these factors may be the most important of all.”

Carne Ross

Carne Ross - “In neo-classical economic theory, it is...” 1

Similar quotes

“To maximise output, every organisation will strive to obtain its necessary raw materials, labour and machinery at the lowest possible cost and combine them to turn out a product that it will then attempt to sell at the highest possible price... And yet, troublingly, there is one difference between 'labour' and other commodities, a difference that conventional economics does not have a means of representing or giving weight to but that is nevertheless unavoidably present in the world: that labour feels pain.”

Alain De Botton
Read more

“... economic growth is driven by supply factors such as improved technologies and access to more or better resources.”

Campbell McConnell
Read more

“The simple truth is that nowhere in human history is there another manwho combined so uniquely and effectively in his person both the idealist and realist factors as did Muħammad (Peace be upon him)”

Fazlur Rahman
Read more

“When economists base their models on their fantasies of an "economic man" motivated only by self-interest, they forget community--the all-important web of meaning we spin around each other--the inescapable context within which anything truly human has taken place.”

Cacilda Jethá
Read more

“There are two main reasons why this assumption is wrong. First, once basic material needs have been met, there is very little evidence that pursuing financial prosperity generates much extra happiness for individuals or for nations. Second, by blindly pursuing economic growth, we are creating a whole set of social and environmental issues that will undermine the potential happiness and well-being of future generations.”

Nic Marks
Read more