Ecological economists, such as Herman E. Daly, stress that as the external costs of pollution and resource exhaustion are not included in Gross Domestic Product, we do not know whether an increase in GDP is a gain or a loss. External costs are huge and growing larger. Historically, manufacturing and industrial corporations, corporate farming,
Paul Craig Roberts: Is Capitalism Killing Us?
When we get right down to it, all of the profits that capitalism has generated over the centuries are probably due to capitalists not having to cover the full cost of their production, costs passed on to the environment and to third parties and pocketed the savings as profit.

Be Sociable, Share!

Paul Craig Roberts
Paul Craig Roberts is an American economist, journalist, blogger, and former civil servant. Dr. Roberts was associate editor and columnist for The Wall Street Journal and columnist for Business Week and the Scripps Howard News Service. He was a nationally syndicated columnist for Creators Syndicate in Los Angeles. In 1992 he received the Warren Brookes Award for Excellence in Journalism. In 1993 the Forbes Media Guide ranked him as one of the top seven journalists in the United States.