Benevolent Butchers

This chapter explores classical economic thought and its perspectives on the relationship between the natural world and economic activity. The concerns and insights of early classical economists established a foundation for later analyses of the natural world’s role in the economy. Accordingly, this chapter surveys the key concepts and ideas of prominent figures, including Adam Smith, Thomas Malthus, David Ricardo, and John Stuart Mill. The discussion will focus on concepts that were crucial to understanding the link between the environment and the economy. Specifically, this includes an examination of Say’s Law, the iron law of wages, class antagonism, value theory, the division of labor, the population principle, notions of relative and absolute limits to economic growth, and the stationary state. Each of these concepts offers specific insights into contemporary understanding of economics, sustainability, and the environment.