First Time Economic System Bumping into the Boundaries of the Biosphere - John Fullerton

The video discusses the significant expansion of the global economy over the past 30 to 50 years, highlighting its throughput-intensive nature, which involves raw materials input and waste output. This expansion has led to the economy reaching the biosphere's boundaries, with climate change being a notable consequence. The concept of a 'full world economy,' as introduced by Herman Daly, is explored, emphasizing its novelty and distinction from past financial crises. The video concludes by urging a deeper consideration of the profound implications this has for the operation of the economy and finance.

In what ways is climate change related to the economic system's challenges?

Why is it important to rethink how the economy and finance operate in light of these challenges?