What Is a Steady State Economy?
Steady economics is a branch of western economic growth and economic development theory. It is a discipline that uses economic, ecological, and ethical analysis methods to empirically examine the possibility of road signs of steady economic growth.
Steady state economics
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- Chinese name
- Steady state economics
- Nature
- A branch of western economic growth and development theory
- Analytical method
- Economics, ecology and ethics
- Function
- Investigating the possibility of road signs of steady economic growth
- Steady economics is a branch of western economic growth and economic development theory. It is a discipline that uses economic, ecological, and ethical analysis methods to empirically examine the possibility of road signs of steady economic growth.
- In 1923, John Mueller first proposed the concept of steady state in his book "Principles of Political Economy". Modern steady-state economics was born in the 1970s. In 1973, the economist Herman Daly edited the book "Towards a Stable Economy", which marked the formation of steady-state economics. Other advocates of steady-state economics are Bolding, Joe Logan, and others. They believe that modern economics is limited to studying the allocation of relatively scarce factors of production and the distribution of income, and it is wrong to assert that high-speed economic growth can continue indefinitely. Excessive growth will accelerate the depletion of raw materials, increase environmental pollution, and cause economic growth to lose its material foundation.
- research content
- The main research contents of steady state economics are:
- (1) The theory of maximizing service efficiency. There are three basic quantities of the steady state economy: the stockthe total level of production, consumer goods, and the population; and the servicethe experience or psychological income when the desire is satisfied, and the flowmaking the stock level unchanged, and updating and maintaining The required amount. The three relationships can be expressed as:
- Service / Flow = Service / Stock × Stock / Flow
- The goal of a steady state economy is to maximize and sustain the efficiency of material and non-material services.
- (2) As an intermediate goal of moral growth, it is impossible to use the current growth to avoid the disadvantages of distribution. Therefore, it is necessary to change people's life concepts and value judgments, and transform the control system of human society in order to maintain the same population, the same material wealth stock, and control distribution. The principle is to provide the necessary social control and stability while sacrificing individual freedoms as little as possible.