I am feeling increasingly disillusioned about what I am teaching my young students. This is unfortunate, considering I wrote the textbooks they use.

A lead article on the news recently was another grim international scientific report on the decline in global biodiversity. The report stated that the human obsession with production and consumption is killing off countless species, including sharks, bees, elephants and gorillas and eventually possibly us.

Meanwhile, I spent the day teaching my economics students that human wellbeing is largely determined by the production and consumption of good and services. National wellbeing is determined by