I know I promised my next post would be back on the topic of the Steady State Economy, but I have another word on climate change first. Seriously, this is important stuff – survival of life on Earth sort of stuff. Creating a sustainable economy is crucial to stopping runaway climate destabilization. They go hand-in-hand, [...]
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I have written in the past about climate change and the need for decisive action. You might think this odd for a blog about economics to be talking about climate change. How can I not talk about it? Climate change poses the greatest threat to human civilization since the atom bomb. It is the ecological [...]
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I am writing this post in a somewhat balmy, 80-plus degrees in my house (at 10:30pm). In Seattle air conditioning in homes is nearly as unheard of as the robin is in the Inuit’s land. Of course, now that the robin is in the arctic the Inuit have to come up with a word for [...]
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The old saying goes that the definition of insanity is “doing the same thing again and again expecting different results.” There is talk now of more money needed to keep the big banks afloat. It has become apparent that Bank of America “needs” billions of dollars more (roughly $34 billion, with a B). If it didn’t work the [...]
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The financial crisis is largely attributed to the collapse of the housing market and reckless leveraging of bad securities. Recently Jon Stewart began a campaign on The Daily Show to expose the effects of our corporate-owned media’s influence on this crisis, namely CNN (no link to them for a reason). Our media should be a [...]
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A fellow citizen sent me an article; one that I feel everyone should read. New York Times columnist and writer of The Lexus and the Olive Tree, Thomas L. Friedman (not to be confused with Benjamin Friedman) recently wrote about our dire times and what Paul Gilding calls “The Great Disruption” – “when both Mother [...]
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In a steady-state economy the focus is on development versus growth. As Herman Daly puts it, growth refers to “physical scale of the matter/energy throughput that sustains the economic activities of production and consumption of commodities.” In other words, growth is the increasing of production and consumption of goods and services. This is a quantitative [...]
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While trying to transition this blog onto a new platform, I will also be starting a new phase in my posts. Over the next few months I intend to move from the generalities of steady-state economics to the specifics; that is, we know that it’s good, but how do we get there and what does [...]
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