Posts


Labor Day Reflections: Growth Doesn’t Solve Inequality

Labor Day, like other holidays of remembrance, is an opportunity to reflect on the past and critically consider the future. Our memory ought to include the foot soldiers of the labor movement, from the 10,000 coal miners who fought in the Battle of Blair Mountain to the steel workers who duked it out with the Pinkertons at Homestead mill. We owe our rights as workers to the bitter struggles of many who preceded us.

Despite the gains of the labor movement, it seems we still have a long way to go. It is well-documented that while the productivity of the American worker has continued to rise, our compensation has risen slower. All that extra surplus has gone right into the bosses’ pockets; Mother Jones would be up in arms by now.


A Journey of No Return, Not a Circular Economy

By Herman Daly

The economic process is not a mechanical analog that can be run forward and backward, nor a circular process that can return to any previous state. Rather it is an irreversible and irrevocable process moving in the direction of time’s arrow of increasing entropy [1]. Finitude and entropy guarantee that the economic life of our species will be a journey of no return. Therefore even a stationary economy, in the classical sense of constant population and constant capital stock, is ultimately a journey of no return, because the metabolic throughput of matter and energy required to maintain constant stocks of people and physical capital, in the face of depreciation and death, is an entropic flow from ever less concentrated sources to ever filling sinks – and both sources and sinks are finite.


A Country of Immigrants

By Herman Daly

Historically, the U.S. is undeniably a country of immigrants. But why is this uncontested fact so repeatedly emphasized? Might the unremitting celebration of immigration as a policy (as opposed to the celebration of particular immigrants as people) obscure a dark side of our immigration history?


Not Production, Not Consumption, but Transformation

You can always count on Herman Daly to ask the critical questions: “How did this nonsense come into economics?”


Modernizing Henry George

Herman Daly elaborates on the economics of Henry George — reckoning with resources, redistributing rents, and a supplying a sane strategy for serving people and planet.