The planet earth (OCEAN) is alive but sick: The orthodox economists got both wrong

Year 2025, Volume: 7 Issue: 2, 166 - 171

Tunc Ozelli

https://doi.org/10.58251/ekonomi.1597755

Abstract

Ecology and economics are derived from Greek 'oikos' Ecology is the study of household and economics is its management. Neoclassical economic theories, laws and principles formulated since the WEALTH OF NATIONS are not synchronous with our understandings of the natural phenomenon of Planet Earth: the discovered theories, laws and principles of physics and biology. The man-made economic laws are insidiously presented to be at par with the discovered laws of the Planet's natural phenomenon by public relations and propaganda fed Ai and both sets of putative laws are to be regarded with the same deference. In fact, any economy of Planet Earth is but one of the many possible economies and unlike the laws of physics and biology, we have political choices to determine when, where and to what extend the so-called laws of economic behavior should hold sway. There is compelling evidence that the biological and physical components of Planet Earth are part of a single network that operates in a self-regulating way to maintain conditions that are broadly suitable for the existence of life, but that undergoes fluctuations on all scales, analogous to the fluctuations that occur in self-organizing systems on the edge of chaos. GAIA theory is a way of studying structuring matter at a molecular scale by slotting each atom into its needful place. It is a way of understanding flows of energy on every scale from that of the smallest living cell to that of the whole living planet. Planet Earth is a living system composed of human beings in continual interaction with one another and with their natural resources, most of which are, in turn, part of the mega-living system, GAIA. By subsuming land within the category of capital, almost all classical economists treated Nature to be a subset of economy. An endless pile of resources to be transformed into wealth. The reality is that the economy exists within and entirely depends on Nature, and many natural resources have no realistic substitutes. This natural world is not a subset of the economy. It is the other way around. The prevailing climate crisis, water crisis, biodiversity crisis, food crisis are the different forms of mismanaging the Earth's ecological processes by not recognizing nature's capital as the real capital and depleting nature's wealth by branding it income generating extractive mining to meet the input needs of the industrialized mega-machine's income production. The man-made mega-machine so far destroyed 75% of planet's soil, water, and biodiversity, and is responsible for more than 50% of the greenhouse gas emissions that are driving climate change.

Keywords

Ai , Anthropocene , Ecocene , Ecology , Entropy , Evolution Biology , GAIA , GMO , Homo Deus , Homo Sapien , Novacene , Reductionism

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