The economics of the future is based on people and biodiversity - not fossil fuels, toxic chemicals and monocultures.
Economy and ecology have the same roots “oikos” - meaning home - both our planetary home, the Earth, and our home where we live our everyday lives in family and community.
But economy strayed from ecology, forgot the home and focused on the market. An artificial “production boundary” was created to measure Gross Domestic Product (GDP). The production boundary defined work and production for sustenance as non-production and non-work - “if you produce what you consume, then you don’t produce”. In one fell swoop, nature’s work in providing goods and services disappeared. The production and work of sustenance economies disappeared, the work of hundreds of millions of women disappeared.
To the false measure of growth is added a false measure of “productivity”. Productivity is output for unit input. In agriculture this should involve all outputs of biodiverse agro-ecosystems - the compost, energy and dairy products from livestock, the fuel and fodder and fruit from agroforestry and farm trees, the diverse outputs of diverse crops. When measured honestly in terms of total output, small biodiverse farms produce more and are more productive.
Bhutan has given up the false categories of GNP and GDP, and replaced them with the category of “gross national happiness” which measures the wellbeing of nature and society. More