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.
I’m an old guy. Not ancient, perhaps, but my 61-year old knees alone would put me in the lower decile of…let’s say freshness. Why, my best days are so far back, you’d need a rearview mirror from the Giant Magellan Telescope to spot one!
As if that weren’t bad enough, I’m a white guy. I might feel black and blue sometimes from fighting the forces of GDP growth,
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.
Bitcoin needs to end, now. And other blockchain-based currencies along with it. If, like many people, you only have a vague idea of what Bitcoin is, you need to know two critical facts. First, Bitcoin is a currency that is “mined” via computing calculations, and second, in aggregate those calculations use about as much energy as the nation of Argentina. To make matters worse, that energy use is growing.
A recent analysis in Nature Communications estimated that by 2024 bitcoin mining in China alone would require nearly 300 terawatt-hours (TWh),
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.