Doughnut Economics by Kate Raworth, which I gobbled up last week, was tentatively in my top five economics pastries before I bit down on Chapter 7. Now it’s “merely” in the baker’s dozen—top ten even—along with classics such as Small is Beautiful, the Diseconomics of Growth, and more than one Herman Daly title on the pantry shelf.[i] I know you’re hungry for the answer to what grated my teeth at Chapter 7,
I spend my summers working at a summer camp in Upstate New York. For a reason unbeknownst to me this past summer, my campers became obsessed with the song “Let It Grow” from The Lorax. They asked me to play it constantly, knew all the words, and loved to sing along. I didn’t realize how relevant it would become to my own life and work.
On March 10, Senate Majority Whip Dick Durbin introduced America’s Clean Future Fund Act, a fairly ambitious plan to combat climate change. While skeptics will be able to identify plenty of weaknesses in the bill and might argue that it remains enmeshed in a growth-economy worldview, the potential for progress warrants our appreciation. Meanwhile in the House, the Energy and Commerce Committee introduced the Climate Leadership and Environmental Action for our Nation’s (CLEAN) Future Act,
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.
Following my recent article in the Herald, a reader pointed out that many folks become far happier simply by reducing their material belongings. He also noted how, by focusing more on the long term, he has been able to achieve many goals in his own life. Neither of these points came as a surprise, yet they’re worth following up on. There is growing interest from people in the USA and the Western world at large in living a slower,
Karl Marx thought of history as progressive, moving from aristocracy to bourgeois capitalism to socialist revolution to communist utopia. While neoclassical economists such as Alan Greenspan and Paul Romer might not agree with Marx on much, they do agree that history tends toward progress. Today, nearly everyone on the political left and much of the political right is “historically progressive,” even if politically conservative. They all seem to believe that our children will inherit a more prosperous,
Over the last week of January, it was hard to miss the headlines: “Reddit vs Wall Street,” “Reddit Sparks Wall Street Crisis,” “The Reddit Traders Who Took On Wall Street’s Elite.” The GameStop phenomenon, fueled by the Reddit forum “WallStreetBets,” was pitched as a David vs Goliath story where a group of ordinary citizens took on the elites and won.
On September 23, 2019, a 16 year-old girl fearlessly sent a message to world leaders at the UN Headquarters: “We’ll be watching you.” Though Greta Thunberg had become a household name at this point for her school-strike movement, this speech would mark her as the voice of a generation, garnering 4 million views and a designation as “Time’s 2019 Person of the Year.” Though her whole speech is moving,
To most people, the idea of a steady state economy is misunderstood at best and completely unknown at worst. Outside of economic, environmental, and academic circles, steady staters are hard to come by. The idea of a steady state economy is not yet mainstream and is shied away from in the media, general politics, education, and culture. Economic growth has been sold to generations as the remedy to all our ailments.