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The Historical Context

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More than 2000 years ago, Aristotle defi ned economics as ‘the management of a household so as to increase its use value to all members of the household over the long run’ (Daly and Cobb Jr. 1991, p.159). If we, in accordance with Daly and Cobb, argue for expanding the scope of the household to include ‘the larger community of the land, of shared values, resources, biomes, institutions, language and history,’ then we have a relevant defi nition for sustainable economics in a sustainable society (Daly and Cobb Jr. 1994, p.138). This definition involves the interaction among economy, nature and culture, also displaying central elements of the new economics treated in this book.
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Keywords: The Historical Context

Document Type: Research Article

Publication date: January 1, 2007

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