Abstract
This paper reviews briefly the idea of a steady state economy from the ancient times to the present. It discusses some of the suggestions made by H. Daly in his model of a steady state economy and particularly the idea of a stable population. It suggests that population must be stable at a level that is compatible with ecological equilibrium. That level is about three billion people and therefore the world population must be reduced drastically. This can be achieved if each family is allowed to have less than two children. To achieve this reduction of population this paper proposes the creation of an international market for human reproduction rights.
Highlights
In his General Theory of Employment, Interest and Money Keynes (1960) writes in the final concluding note at the end of his book: Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist
If Keynes was right, those in authority during the last fifty years should have been totally unfamiliar with the ideas of Plato, Aristotle, Malthus, Huxley, Paul Ehrlich, and the report of the Club of Rome. This conclusion appears to follow from the fact that few of such people have shown any interest in the unprecedented growth of world population in the last half century in spite of the warnings of the writers mentioned above and many other modern scientists regarding the dangers of overpopulation either for some countries or for the entire planet
Those who argue that the world population can increase to 10 or more billion should specify the standard of living to be enjoyed by those billions of people
Summary
Theodore Lianos is Professor Emeritus of Economics at the Athens University of Economics and Business where he served as Rector for four years. He has taught at the University of California, Davis, North Carolina State University, Virginia Polytechnic Institute and State University, and University College, Galway, Ireland. His research focused on political economy, labor economics, migration and lately on sustainable economic welfare
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