New Books Network Christopher F. Jones, "The Invention of Infinite Growth: How Economists Forgot About the Natural World" (Simon and Schuster, 2025)
Oct 17, 2025
Christopher F. Jones, an associate professor at Arizona State University and author specializing in environmental and energy history, explores how the idea of infinite economic growth has undermined natural ecosystems. He discusses the historical shift in economic thought, the overreliance on GDP as a policy tool, and critiques of Keynesianism in light of environmental issues. Jones advocates for interdisciplinary approaches to redefine growth, emphasizing well-being over mere accumulation while pondering the future of our global economy amidst increasing inequality.
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Growth Is Material, Not Just Abstract
- Economic growth depends on material inputs like coal, oil, and electricity, not just abstract models.
- Jones shifted from energy history to intellectual history to ask why models ignore material energy constraints.
Classical Thought Expected Limits
- Classical political economists expected limits to growth via land scarcity and diminishing returns.
- Economists accepted a stationary state through John Stuart Mill before growth became central again.
GDP Invented The Modern Growth Debate
- National income accounting and regular GDP data invented a new concept of the economy and enabled ongoing growth management.
- That statistical infrastructure increased demand for continuous policy intervention by economists.
