Permacrises slam mainstream economics

Economist James Meadway integrates awareness of global heating and its effects and consequences into understanding of the economy.

When the climate was fairly stable, and fluctuations were temporary ("weather"), it may have worked to treat those as externalities. They are small changes and can be modeled with perturbation theory. But when global heating is taking every measurement off the charts, to assume they are small perturbations is simply false.