Cities 1.5 Neoliberalism and its Discontents: Is Ecological Economics the Answer?
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Oct 17, 2023 
In this engaging discussion, Tim Jackson, a renowned Professor of Sustainable Development and author, delves into the flaws of traditional economic models that ignore planetary limits. He advocates for ecological economics as a roadmap to sustainable urban policies, emphasizing the need to redefine prosperity beyond mere growth. Tim also explores the shortcomings of GDP as a policy target, the role of cities in public health and local food systems, and the importance of local action over chasing growth for true societal well-being.
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Economy Is Bounded By Planetary Limits
- Ecological economics recognizes the economy is bounded by a finite planet and resource limits.
- Scale matters: unchecked material expansion increases planetary pressure and undermines future prosperity.
Decoupling Has Physical Limits
- Conventional economics separates material growth from economic value through 'decoupling' and technological efficiency.
- Tim Jackson warns physical and thermodynamic limits constrain how far decoupling can go in practice.
Growth Helps Poorer Nations More
- Growth improved prosperity historically, especially in the poorest countries where income gains raise health and education.
- In rich countries, continued material expansion often fails to extend life expectancy or improve well‑being.
