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Research paper thumbnail of Cost of Renting the Earth

Eurasian journal of social sciences, 2023

For many decades scientists have been warning that life on earth will not be sustainable for long... more For many decades scientists have been warning that life on earth will not be sustainable for long the way we treat the earth. The collusion between humans and the earth has outpaced to a degree that it no longer can be left to blind chance. Complacency in tempering with the nature at the same pace could run out of control at any time. In those circumstances, the harms outdone to the environment could be irreversible. Stratospheric ozone depletion, pollution of air and water, soil erosion, deforestation, warming of the earth, and exploitation of depletable natural resources are not sustainable at this rate of decline. Conventional economics has played a significant role in vindicating the existing state of affairs. As already implied, the mainstream economics has not only paid no head to ecological degradation but has been the principal propellant of this creed. We rarely find a textbook in economics that does not begin with factors of production as the fundamental fabric of the economy. Land, labor, capital and entrepreneurship are purported to be the core components, the base elements, the building blocks of every economy. These constituents account for the blueprint of contemporary economic systems. The refraction of this doctrine through a prism of a critical eye unlocks the sophistry concealed in this way of thinking. In conventional economics, land is detached from the earth and downgraded to a basic factor of production. It is presumed that land as a factor of production delivers a service. For this, it is paid a rent. In short, the price of the earth amounts to the market rent. Adhering to such an outlook has many implications, one of which is turning a blind eye to the anthropomorphic impacts of climate change. The cost of such a conduct is more than economic. It is existential. The failure to come to grip with this trial and failing to restore land to its due place in economic reasoning is beyond measure. This is an erroneous outlook that we shall examine critically in this paper.

Research paper thumbnail of The nature and the true origin of money

Research paper thumbnail of The exchange in kind versus the exchange against a medium

Research paper thumbnail of Culture in Economics

Advances in economics and business, 2019

Research paper thumbnail of Cyclonic ebbs and flows of trade

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Money and its Origins

Chapter I: Introduction Chapter II: Money as a Discovery or an Invention Chapter III: Division of... more Chapter I: Introduction Chapter II: Money as a Discovery or an Invention Chapter III: Division of Labour and Production of Surplus Products Chapter IV: Initiation of Money from the Act of Exchange Chapter V: The Exchange in Kind versus the Exchange against a Medium Chapter VI: The Origin of Money and the Most Marketable Good Chapter VII: Money is Originated from its Functions Chapter VIII: Money as a Creation of Debt Payment or a Creature of the State Chapter IX: Inherent Difficulties of the Barter System and the Origin of Money Chapter X: The Nature and the True Origin of Money Conclusion Chapter XI: Conclusion

Research paper thumbnail of The order of self-destruction

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Coping with unknowns and human follies

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Economic crises and human propensity to extremism

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Crypto-economy and trade cycle

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of High and low times of industrialization

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Over-trading, trade cycles, and crises

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Temporary Economic Crises

Research paper thumbnail of Manageable economic disorders

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Permanent Economic Disorder

Research paper thumbnail of Self-correcting economic order

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Permanent change and disorder

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Free markets and economic disorder

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Self-correcting economic order

Permanent Economic Disorder

Research paper thumbnail of Keynes and Marx on monetary theory : a comparative analysis with particular reference to electronic money

EThOS - Electronic Theses Online ServiceGBUnited Kingdo

Research paper thumbnail of Cost of Renting the Earth

Eurasian journal of social sciences, 2023

For many decades scientists have been warning that life on earth will not be sustainable for long... more For many decades scientists have been warning that life on earth will not be sustainable for long the way we treat the earth. The collusion between humans and the earth has outpaced to a degree that it no longer can be left to blind chance. Complacency in tempering with the nature at the same pace could run out of control at any time. In those circumstances, the harms outdone to the environment could be irreversible. Stratospheric ozone depletion, pollution of air and water, soil erosion, deforestation, warming of the earth, and exploitation of depletable natural resources are not sustainable at this rate of decline. Conventional economics has played a significant role in vindicating the existing state of affairs. As already implied, the mainstream economics has not only paid no head to ecological degradation but has been the principal propellant of this creed. We rarely find a textbook in economics that does not begin with factors of production as the fundamental fabric of the economy. Land, labor, capital and entrepreneurship are purported to be the core components, the base elements, the building blocks of every economy. These constituents account for the blueprint of contemporary economic systems. The refraction of this doctrine through a prism of a critical eye unlocks the sophistry concealed in this way of thinking. In conventional economics, land is detached from the earth and downgraded to a basic factor of production. It is presumed that land as a factor of production delivers a service. For this, it is paid a rent. In short, the price of the earth amounts to the market rent. Adhering to such an outlook has many implications, one of which is turning a blind eye to the anthropomorphic impacts of climate change. The cost of such a conduct is more than economic. It is existential. The failure to come to grip with this trial and failing to restore land to its due place in economic reasoning is beyond measure. This is an erroneous outlook that we shall examine critically in this paper.

Research paper thumbnail of The nature and the true origin of money

Research paper thumbnail of The exchange in kind versus the exchange against a medium

Research paper thumbnail of Culture in Economics

Advances in economics and business, 2019

Research paper thumbnail of Cyclonic ebbs and flows of trade

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Money and its Origins

Chapter I: Introduction Chapter II: Money as a Discovery or an Invention Chapter III: Division of... more Chapter I: Introduction Chapter II: Money as a Discovery or an Invention Chapter III: Division of Labour and Production of Surplus Products Chapter IV: Initiation of Money from the Act of Exchange Chapter V: The Exchange in Kind versus the Exchange against a Medium Chapter VI: The Origin of Money and the Most Marketable Good Chapter VII: Money is Originated from its Functions Chapter VIII: Money as a Creation of Debt Payment or a Creature of the State Chapter IX: Inherent Difficulties of the Barter System and the Origin of Money Chapter X: The Nature and the True Origin of Money Conclusion Chapter XI: Conclusion

Research paper thumbnail of The order of self-destruction

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Coping with unknowns and human follies

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Economic crises and human propensity to extremism

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Crypto-economy and trade cycle

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of High and low times of industrialization

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Over-trading, trade cycles, and crises

Routledge eBooks, Nov 21, 2022

Research paper thumbnail of Temporary Economic Crises

Research paper thumbnail of Manageable economic disorders

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Permanent Economic Disorder

Research paper thumbnail of Self-correcting economic order

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Permanent change and disorder

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Free markets and economic disorder

Routledge eBooks, Oct 31, 2022

Research paper thumbnail of Self-correcting economic order

Permanent Economic Disorder

Research paper thumbnail of Keynes and Marx on monetary theory : a comparative analysis with particular reference to electronic money

EThOS - Electronic Theses Online ServiceGBUnited Kingdo