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How is the analogous to neo-classical economic theory

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Reference no: EM132434876 , Length: word count :- 400

Economist Herman Daly characterizes neo-classical economic theory as being analogous to a biologist trying to understand the functioning of an animal by considering only its circulatory system and ignoring its digestive system which connects the animal "firmly to the environment at both ends!"

Question 1: How is this analogous to neo-classical economic theory?

Question 2: What kind of environmental problems does this kind of neo-classical economic thinking lead to? Explain and provide examples.

  • Must be minimum 400 words with at least 1 reference

Reference no: EM132434876

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