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.

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