Dr Karey Harrison 2010 "Economics and Limits to Growth", Guest Lecture on behalf of Cec Pedersen, International Management course, USQ
Conventional explanations for the 2007 Global Economic Crisis refer to the US housing bubble bursting and the consequent collapse of complex financial instruments. If these explanations were correct, then bailing out the banks and propping up economies with massive fiscal stimulus packages might work to produce economic recovery. In this paper, I suggest an alternative explanation of the economic crisis and argue that current bailout and stimulus strategies will provide no more than a short term reprieve from the crisis and a temporary illusion of recovery. As a philosopher, I examine the causal adequacy of the ontological metaphors underlying theories and disciplines. In this paper, I compare the adequacy of theories and ontologies drawn from economics, on the one hand, and ecology on the other, In the context of explaining the 2007 economic crisis.