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

Right!
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.
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
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.

IN OTHER LANGUAGES

Was this article helpful? Thanks for the feedback Thanks for the feedback

How can we help? How can we help?