Donella Meadows: Economics

Donella Meadows was American environmental scientist, teacher, and writer. Explore interesting quotes on economics.
Donella Meadows: 30   quotes 0   likes

“The world is a complex, interconnected, finite, ecological–social–psychological–economic system. We treat it as if it were not, as if it were divisible, separable, simple, and infinite. Our persistent, intractable global problems arise directly from this mismatch.”

Donella Meadows

Meadows (1982) " Whole Earth Models and Systems http://www.oss.net/dynamaster/file_archive/040324/48c97c243f534eee32d379e69b039289/WER-INFO-73.pdf". In: The CoEvolution Quarterly, Summer, pages 98–108.

World , Problem

“Ever since the Industrial Revolution, Western society has benefited from science, logic, and reductionism over intuition and holism. Psychologically and politically we would much rather assume that the cause of a problem is “out there,” rather than “in here.” It’s almost irresistible to blame something or someone else, to shift responsibility away from ourselves, and to look for the control knob, the product, the pill, the technical fix that will make a problem go away.
Serious problems have been solved by focusing on external agents — preventing smallpox, increasing food production, moving large weights and many people rapidly over long distances. Because they are embedded in larger systems, however, some of our “solutions” have created further problems. And some problems, those most rooted in the internal structure of complex systems, the real messes, have refused to go away.
Hunger, poverty, environmental degradation, economic instability, unemployment, chronic disease, drug addiction, and war, for example, persist in spite of the analytical ability and technical brilliance that have been directed toward eradicating them. No one deliberately creates those problems, no one wants them to persist, but they persist nonetheless.
That is because they are intrinsically systems problems-undesirable behaviors characteristic of the system structures that produce them. They will yield only as we reclaim our intuition, stop casting blame, see the system as the source of its own problems, and find the courage and wisdom to restructure it.”

Donella Meadows

Pages 3-4.
Thinking in systems: A Primer (2008)

Wisdom , Hunger , War , People

“Economic theory as derived from Adam Smith assumes first that homo economicus acts with perfect optimality on complete information, and second that when many of the species homo economicus do that, their actions add up to the best possible outcome for everybody. Neither of these assumptions stands up long against the evidence.”

Donella Meadows

Page 107.
Thinking in Systems: A Primer (2008), Part two: systems and us

Perfection , Optimism