Posts


Use and Abuse of the “Natural Capital” Concept

Herman Daly explains how we can use prices now as tools for rationing a fixed predetermined flow of resources, rather than determining the volume of resources taken from nature, or the physical scale of the economic subsystem.


The Visible Hand: Manipulating Market Prices by Influencing Laws and Regulations

Just how efficient are are market prices when they put the future of all species, including humans, at risk?


Wealth, Illth, and Net Welfare

Good and bads, wealth and illth — economic growth produces them all. But how big are the bads and how damaging is the illth?