by Herman Daly The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with […]
by Brent Blackwelder A year ago, I wrote about how a true-cost steady state economy would deal with water pollution. Last August, the alarming green slime at the west end of Lake Erie was so bad that it shut down Toledo’s water supply for half a million people. Who would pay the tremendous damages caused […]
By James Magnus-Johnston A new voice has emerged recently in Canada called the “Ecofiscal Commission,” which could have the funding, clout, and determination to steer the country in a more promising direction. The group includes high-profile economists, former political leaders, and high-powered financiers. They define “ecofiscal policy” as something that “corrects market price signals to […]
Economics Ignores Thermodynamics by Eric Zencey Editor’s Note: An earlier version of this essay appeared as a comment in the Great Transition Network Forum, which will appear on the Great Transition Initiative website next week along with a new essay by Herman Daly, “Economics for a Full World.” Ecological Economics and its corollary, Steady State […]
by James Magnus-Johnston If you demonstrate to people that the NDP [New Democratic Party] can win in Alberta, suddenly anything seems possible. —Paul Fairie, University of Calgary political scientist On the problematic political spectrum, neither the right nor the left have become wholesale champions of the steady state economy. Then again, embracing something perceived as […]
Herman Daly reviews Kerryn Higgs’ Collision Course (Endless Growth on a Finite Planet), finding her explanation of the ascendancy of the weaker anti-Limits position constitutes a kick in the head for those of us who believe in the persuasive power of reasoned argument.
by Brian Czech Whether or not you like President Obama or his policy preferences, you have to acknowledge his consistency. Even those with “zero regard” for the president confess, “At least Obama is consistent.” But not consistently. There is one issue, at least, on which he hasn’t held still, moving in and out like an […]
Magnus-Johnston explains how these investments are funded, and how it exacerbates our economy’s growth imperative.
Our current economic policy goal is not fit for a finite and entropic world. But what would our economic policy goal be in a steady state economy?