Proceedings of the New York State Economics Association


Macroeconomic Policy and Institutional Change in the Age of Limits to Growth

Kent Klitgaard

vol. 3, September 2010, p. 66-77


The early 1970s were a watershed of environmental political economy. Among the most influential work was a 1972 study for the Club of Rome entitled The Limits to Growth. The original work and its subsequent updates warned the world of the power of exponential growth and used a computer simulation to project potential scenarios based on the interaction of population, food production, industrial output, resource availability and pollution. Although he study was routinely criticized and even dismissed, the projections are consistent with present data on those variables. The paper develops the interaction between biophysical limits and the internal macroeconomic limits and ends with possible suggestions for living within the earth‘s carrying capacity.


suggested citation:

Kent Klitgaard. "Macroeconomic Policy and Institutional Change in the Age of Limits to Growth." Proceedings of the New York State Economics Association. vol. 3, September 2010, p. 66-77

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