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Aalborg Universitet Røpke, Inge
Aalborg Universitet Røpke, Inge

... is basically a measure of activities in the formal economy, and it is not really a relevant measure for any of the concerns of ecological macroeconomics. GDP mixes up costs and benefits, does not reflect the run-down of natural resources, does not correlate with wellbeing, and so on. In addition, GD ...
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... activity. In fact, three of the six recessions that have occurred since World War II have been associated with rising oil prices. But exactly what happened to the economy during the years immediately following World War II, our nation’s most expensive war. The decrease in military spending that occu ...
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Steady-state economy

A steady-state economy is an economy of relatively stable size. A zero growth economy features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Note that Robert Solow and Trevor Swan applied the term steady state a bit differently in their economic growth model. Their steady state occurs when investment equals depreciation, and the economy reaches equilibrium, which may occur during a period of growth.
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