Rediscovering the Steady State of Classical Economics: Discussion on the Origin of the Economic Theory of Sustainability

Sustainability is not a new concept; rather it originated with the earliest thinkers in the philosophy of economics. Adam Smith and others of his generation wrote about stationary economies and uneconomic growth centuries before modern thinkers rediscovered these issues. This discussion paper explores how neo-classical economics has strayed from the core beliefs of early authors and negligently built on their legacy by espousing ideals of uneconomic growth. If society does require a sustainable human enterprise how can researchers and policy maker’s best describe this in language that is acceptable to society at large.