WIT Press

Sustaining our commonwealth of nature and knowledge

Price

Free (open access)

Paper DOI

10.2495/ECO-V1-N3-236-244

Volume

Volume 1 (2006), Issue 3

Pages

8

Page Range

236 - 244

Copyright

WIT Press

Author(s)

H.E. Daly

Abstract

This lecture will address issues of sustainability in the context of two somewhat opposite difficulties in managing our commonwealth: the problem of non-enclosure of the truly scarce (nature) and that of enclosure of the truly non-scarce (knowledge). Policy reforms respecting both the capacities and limitations of the market in each case will be considered. In closing, a third type of commonwealth, neither nature nor knowledge but institutions, is briefly discussed in terms of the example of fiat money.

Keywords

commonwealth, drawdown, global economy, knowledge, nature, private riches, public wealth, rivalness, scarce, sustain