We live under the illusion of progress: as long as GDP is going up and prices stay low, we accept poverty and pollution as unfortunate but inevitable byproducts of a successful economy. In fact, the infallibility of the free market and the necessity of endless growth are so ingrained in the public consciousness that they seem like scientific fact. Jon Erickson asks, why? With the planet in peril and humanity in crisis, how did we get duped into believing the fairytale of economics? And how can we get past the illusion to design an economy that is socially just and ecologically balanced?

In The Progress Illusion, Erickson charts the rise of the economic worldview and its infiltration into our daily lives as a theory of everything. Drawing on his own experience as a young economist inoculated in the 1980s era of "greed is good," Erickson shows how pseudoscience came to dominate economic thought. He pokes holes in the conventional wisdom of neo-classical economics, illustrating how flawed theories about financial decision-making and maximizing efficiency ignore human psychology and morality. Most importantly, he demonstrates how that thinking shaped our politics and determined the course of American public policy. The result has been a system that perpetually concentrates wealth in the hands of a few, while depleting the natural resources on which economies are based.

While the history of economics is dismal indeed, Erickson is part of a vigorous reform effort grounded in the realities of life on a finite planet. This new brand of economics is both gaining steam in academia and supporting social activism. The goal is people over profit, community over consumption, and resilience over recklessness. Erickson shows crafting a new economic story is the first step toward turning away from endless growth and towards enduring prosperity.

Author: Jon D. Erickson
Binding Type: Paperback
Publisher: Island Press
Published: 12/01/2022
Pages: 272
Weight: 0.85lbs
Size: 8.60h x 6.20w x 1.20d
ISBN: 9781642832525


Review Citation(s):
Publishers Weekly 10/31/2022
Library Journal 11/01/2022 pg. 116
Choice 08/01/2023

About the Author
Jon D. Erickson is the Blittersdorf Professor of Sustainability Science and Policy at the University of Vermont, faculty member of the Rubenstein School of Environment and Natural Resources, and Fellow of the Gund Institute for Environment. His previous co-authored and edited books include Sustainable Wellbeing Futures, The Great Experiment in Conservation, Ecological Economics of Sustainable Watershed Management, Frontiers in Ecological Economic Theory and Application, and Ecological Economics: A Workbook for Problem-Based Learning.