These are the CASSE blog articles on economic growth.
Labor Day, like other holidays of remembrance, is an opportunity to reflect on the past and critically consider the future. Our memory ought to include the foot soldiers of the labor movement, from the 10,000 coal miners who fought in the Battle of Blair Mountain to the steel workers who duked it out with the Pinkertons at Homestead mill. We owe our rights as workers to the bitter struggles of many who preceded us.
If you’ve been following the news, you’ve heard that the Intergovernmental Panel on Climate Change (IPCC) recently released the first section of its sixth report (hereafter, “the report”). The report focuses on the physical science of climate change, and projects the most likely ecological and economic impacts as well as possible mitigation pathways. If you’ve read it—and it is worth reading—you might find that the IPCC has managed once again to walk the line between terrifying and cautious.
On July 30 the Genuine Progress Indicator (GPI) Act was introduced in Congress by U.S. House Representative Ilhan Omar (D-MN). The GPI would indicate the net benefit of economic activity, as an alternative to Gross Domestic Product (GDP). It would be used in the economic and budgetary reporting of federal agencies and government offices.
For me, the timing was remarkable, as July 30 was the very day I signed on with CASSE.
In my very first graduate statistics course, the professor often cautioned us about data collection: “Garbage in, Garbage out.” What she said, in no uncertain terms, was that mistakes in the measurement or methodology would invalidate our statistical analyses. I’ve consistently reminded myself of this mantra. My colleagues, students, and I double check the sources and methodology behind any data we’re testing. If we aren’t entirely confident in the integrity of the data,
I was born in the year 2000. Thus, for my entire life, human-caused climate change has been an ever-present, intensifying threat. Throughout my early education, I learned that we all just needed to “do our part” to combat climate change. “Do your part” lessons always culminated in the sentiment that you too could save the cute polar bears by following the motto “reduce, reuse, recycle,” and these were words I took to heart.
Several movements are working in opposition to the destructive growth economy of the 21st century. The labels adopted by these movements are largely tied to the regions in which they originated and/or became popular. For example, the term “steady state” is most prevalent in the USA, while “degrowth” is often associated with continental Europe. The widespread term throughout the UK, however, is “wellbeing economy.”
Without prior knowledge of the UK term,
That an economic activity has to be profitable is considered a truism, something taken for granted and not reflected upon. But what if the opposite is the case?
When I first took up small-scale organic farming in the 1970s, I spent a lot of energy on developing new methods and machinery to increase my productive efficiency. The early organic advocates went a long way to assure growers, farmers,
Students and scholars of steady-state economics must have noticed, by now, that the Degrowth movement in Europe has attained far more traction than the steady-state movement has in the USA (or anywhere). Degrowth is the banner under which thousands have assembled at numerous conferences for almost two decades now, demonstrating a durable unity. Major European news outlets such as The Guardian report on Degrowth doings; even prominent American outlets including Bloomberg have taken note.
The year was 1965, and on the morning of July 9 in Geneva, Adlai Ewing Stevenson II prepared for his final speech to the UN. A former Governor of Illinois and presidential candidate, what he was about to say might still become his greatest contribution. But we’re in danger of forgetting it.
What Adlai Stevenson proffered the world that day was a metaphor. A simple yet powerful idea that,
I didn’t set out to coin a phrase, but “trophic money” will be far handier than “money derived pursuant to the trophic theory of money.” The trophic theory of money is that money originates via the agricultural surplus that frees the hands for the division of labor into all the other economic activities, most basically manufacturing and services. It’s a theory of money that reflects not only the trophic structure of the economy—with manufacturing and services built upon a base of agriculture and extraction—but the fact that money is meaningless unless we have an agricultural surplus at the trophic base.