Vermont Conversation: Greed is not good — Jon Erickson on building an economics of prosperity – vtdigger.org

by | Dec 14, 2022 | Financial

Jon Erickson. Photo courtesy of Jon Erickson ” data-medium-file=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-300×200.jpg” data-large-file=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg” decoding=”async” width=”450″ height=”300″ src=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg” alt=”” class=”wp-image-408862″ srcset=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg 450w, https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-300×200.jpg 300w, https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-125×83.jpg 125w” sizes=”(max-width: 450px) 100vw, 450px”/> Jon Erickson. Photo courtesy of Jon Erickson ” data-medium-file=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-300×200.jpg” data-large-file=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg” decoding=”async” width=”450″ height=”300″ src=”data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%20450%20300%22%3E%3C/svg%3E” data-src=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg” alt=”” class=”lazyload wp-image-408862″ data-srcset=”https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d.jpg 450w, https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-300×200.jpg 300w, https://vtdigger.org/wp-content/uploads/2022/12/erickson_jon-d-125×83.jpg 125w” data-sizes=”(max-width: 450px) 100vw, 450px”/>Jon Erickson. Photo courtesy of Jon Erickson

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“Greed is good.”

That idea was famously uttered by a fictional stockbroker named Gordon Gekko, played by Michael Douglas in the 1987 movie “Wall Street.”

That line leapt out at Jon Erickson. He was an undergraduate studying economics at Cornell University in the late 1980s and he was coming to believe that the misguided priorities of conventional economics did not lead to prosperity, but to a failed and grossly unequal society and was “a path to planetary ruin.” 

Erickson is now an ecological economist, and he champions a new kind of economics that fosters a healthy, balanced relationship between people and planet. Ecological economics has been gaining influence both in academia and in environmental and social justice movements.

“I think of it as 21st century economics. It’s an economics that reflects the realities of living on a full planet,” Erickson said.

Jon Erickson makes the case for a new e …

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