The world economy is now at a point of systemic crisis. The lack of economic growth is producing high levels of unemployment and poverty. At the same time, cumulative growth of the material economy is depleting our resource base threatening humanity with potentially catastrophic climate change. A new set of economic theories must be developed in order to understand the process of degrowth that will be imposed by the planet’s biophysical limits. The approach of the Social Structure of Accumulation is a potentially fruitful starting point for understanding change in institutional structure.
Kent Klitgaard. "Degrowth and the Social Structure of Accumulation." Proceedings of the New York State Economics Association. vol. 4, September 2011, p. 88-96
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