Your “new Science” isn’t Science at all; it is warmed over Marxist Dialectic with a bit of Zero-sum ecological claptrap wrapped aroud it. This piece of anti-capitalist propaganda just goes to show that we don’t need a “New Economics” at all. If a “new Economics” proposes Solutions like the following insanity, we should run screaming from proponents of such nonsense:
“The resulting solutions will require “long time-horizon investment: investments with no immediate payoff in terms of saleable products, no visible ROI (return on investment), no profit-making in the near-term. Such investment can be generated only in a non-market environment, in which payment is collective and financial profit is not the point.” You are correct in the sense that only a bungling Government Department is stupid enough to waste tax-payers’ funds on solutions with no ROI and no payoff that generates nothing of worth. You have just made an excellent argument against Big Government and Central Planning: we can always spend our own money better than the Government can.
You are wrong about the end of the Fossil Fuel age: The Stone Age didn’t end because we ran out of stones, and the Oil Age will end with plenty of Oil left in the ground. The next great leap in energy availability will be the development of Hydrogen Fusion reactors giving endless resources for humanity. Combined with Robotics and AI, there will be no practical limit to the spread and growth of the Human Race.
“ In coming years and decades, the reality of the need for a new economic science that reflects the dynamics of the economy’s fundamental embeddedness in the biophysical environment will become evermore obvious.” Ever more obvious as False. Stagnation is Death: life doesn’t generate steady states; it is dynamic and ever-changing. Growth and progress will come in spite of pessimists like you.