Building Upon the Trophic Theory of Money: Preliminary Results from Canada

By James Magnus-Johnston

The human economy doesn’t just mimic the economy of nature; it is part of it. It is woven directly into the ecological system of producers and consumers. Due to the technological prowess of Homo sapiens, though, the human presence dominates, threatening other species and the life support system of the planet. Human dominance over non-human life leads us to acknowledge some uncomfortable truths, particularly for proponents of “green growth.”

The first pertains to the loss of biodiversity.


New Zealand Deprioritizes Growth to Improve Health and Wellbeing

By James Magnus-Johnston

Last May, New Zealand Prime Minister Jacinda Ardern released a budget to improve the “wellbeing” of citizens rather than focusing on productivity and GDP growth. And, not so coincidentally, New Zealand has one of the best coronavirus outcomes of any democracy in the world. Perhaps this provides a global model to make economic health cohere with health for all life.

To improve wellbeing, Ardern emphasized goals that focus on care for people and the planet.


Social Solidarity Requires a Universal Basic Income

By James Magnus-Johnston

Going forward in these uncertain times, a universal basic income could be the best way to maintain social solidarity—whether referring to health, wellbeing, or public order. “Solidarity,” writes Eric Klinenberg, “motivates us to promote public health, not just our own personal security. It keeps us from hoarding medicine” and prompts us “to knock on our older neighbor’s door.” It is a structure and a mindset that breaks down the barriers of inequality and improves trust,


The Triangular Economy: Behind the Circular Flows

By Brian Czech

The “circular economy” is a response to the environmental problems and resource shortages that arise as the human economy expands. The focus of the circular economy literature is on efficiency which, in terms of economic production, means more output per unit of input. All else equal, increasing efficiency means higher profits, too. That’s real motivation for the corporation.

Efficiency connects to the human propensity to innovate, too. From childhood on,


Where Does Inflation Hide?

By Herman Daly

The talking heads in the media explain the recent fall in the stock market as follows: A fall in unemployment leads to a tight labor market and the prospect of wage increases; wage increase leads to threat of inflation; which leads the Fed to likely raise interest rates; which would lead to less borrowing, and to less investment in stocks, and consequently to an expected fall in stock prices.


The Negative Natural Interest Rate and Uneconomic Growth

The next nonsensical strategy for maintaining the dream of endless GDP expansion? Negative interest rates!


Dualist Economics

Herman Daly analyzes the philosophies of Frederick Soddy, a well known pioneer of chemistry, but also an insightful pioneer of economics.


A Liberating (but Damned Uncomfortable) Conversion

Herman Daly entreats economists not to eschew the wonderful wisdom of Wendell Berry.


Money and the Steady State Economy

Herman Daly pulls back the curtain on money and proposes a powerful policy for positive change.