STEADY-STATE VERMONT

A steady-state economy could theoretically be instituted in many systems of political economy. Some scholars suggest a best-fit for a steady-state economy is likely a sustainable hybrid between socialism and capitalism. Ecological economists differentiate between characteristics of natural resources, based on how human institutions are able to manage them. For example, climate stability is a global, public good that cannot be excluded with private property. On the other hand, minerals can be excluded with private property, and can only be used by one ‘consumer' at a time. These differentiations lay the groundwork for systems of government that are multi-modal rather than one-size-fits all.

Also known as: Steady-State