Posts


The Silver Lining of the COVID-Caused Recession is Supra-Economic

By Brian Czech COVID-19 has done in a deadly way what steady-state economists would prescribe in a healthy way: putting the brakes on a runaway economy. In fact, the pandemic has slammed on the brakes and jammed the GDP gearstick into reverse. It has ushered us into a recession that will be pronounced and protracted. […]


Degrowth Toward a Steady State Economy: Unifying Non-Growth Movements for Political Impact

By Brian Czech and Riccardo Mastini  Limits to Growth and the Environmental Movement No later than the 1960s, scholars wrote in rigorous terms of the limits to economic growth. Europeans such as E.F. Schumacher, Americans including Herman Daly, and European-born Americans (most notably Nicholas Georgescu-Roegen and Kenneth Boulding) set the stage for later studies in […]


KYIV COMMUNIQUÉ

On the Environmental Impact and Economic Sustainability of Nord Stream 2 and Other Sub-Marine Natural Gas Pipelines Kyiv, November 6, 2019   Summary Representatives of the Ukraine National Academy of Sciences, National Technical University of Ukraine, Ukrainian National Forestry University, Naftogaz Board for Science and Technologies, Institute of Market Problems and Ecological Economics Research, Ukrainian […]


[Book Review] Empty Planet: The Shock of Global Population Decline

by Max Kummerow In Empty Planet: The Shock of Global Population Decline (Crown Publishing Group, New York, 2019) Darrell Bricker and John Ibbitson argue that population decline will bring many social and economic changes—some good, some bad. They assert that “In three decades, give or take…global population starts to decline.” Note that their title is […]


NGOs Challenged to Back Up Their Rhetoric

The Center for the Advancement of the Steady State Economy (CASSE) has sent a letter to the presidents of the top ten environmental NGOs challenging them to a debate. The debate will center around one question: “Is there a conflict between economic growth and environmental protection?”


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.


Time to Stop Worshipping Economic Growth

By Brent Blackwelder There are physical limits to growth on a finite planet. In 1972, the Club of Rome issued their groundbreaking report—Limits to Growth (twelve million copies in thirty-seven languages). The authors predicted that by about 2030, our planet would feel a serious squeeze on natural resources, and they were right on target. In 2009, the Stockholm Resilience […]


What is Wrong with a Zero Interest Rate?

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 […]


What Kind of Future Does Your Degree Prepare You For?

by James Magnus-Johnston As the fall chill sets into the air and farmers begin to harvest, universities invite another wave of impressionable young minds to think about the future—of society, and of their place in it. But preparation for the future requires us to consider exactly what kind of future we think we’re in for, […]


The Pope Francis Encyclical And Its Economics

By Brent Blackwelder The Encyclical Letter of Pope Francis is attracting extraordinary attention for its message on global warming, deforestation, loss of biological diversity, and other pressing environmental issues. What is less well known is the extensive critique of the global economy found in his 184-page Encyclical. This blog highlights some of the significant points […]