‘When it adopted the model of classical ­Newtonian mechanics, notes ­Georgescu-Roegen, economics forgot that time is irreversible. It therefore overlooked entropy, or in other words the non-reversibility of transformations of energy and matter.’ writes Serge Latouche in his book ‘Farewell to Growth’. The fact that time does not go back is obvious, yet economists tend
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Not so long ago, everything seemed to be going pretty well for Brazil: the country of football, Carnival and Latin America’s biggest economy. The economy accelerated and quickly recovered from the international financial crisis, having grown by an impressive rate of 7,5% in 2010. On top of that, in 2007 the winner of the most
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