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. In a COVID-caused recession, it’s nature at bat, not the Fed.

In these dark times, any source of comfort is welcome.


Distinguishing Capitalism from Growth

by James Magnus-Johnston

Capitalism and growth might have similar connotations, but they have important distinctions, too. “Capitalism” has become a clumsy catch-all for any number of value-laden projections—greed, big business, innovation, accumulation, complexity, workaholism. “Growth,” meanwhile, is a landmine of technical and cultural connotations, and I’ll explore just a couple of them here.

Technically speaking, their differences seem straightforward. Growth is a material increase in economic production and consumption. Capitalism is a highly complex term,


Guess What Trudeau Said About Growth?

By James Magnus-Johnston

In an appeal to Mr. Trudeau’s philosophical musings, I’ve written a letter to him listing five ways Canada can foster a better, more sustainable economy.

 

 

“There are a lot of people out there, environmental thinkers like Herman Daly and others, who talk about the fact that maybe endless growth within a finite system is not either possible or even desirable.


War and Peace and the Steady State Economy

Herman Daly discusses the natural alliances between peacemakers and steady staters, and between the growth economy and warfare.


Three Limits to Growth

Our economy faces a futility limit, ecological catastrophe limit, and an economic limit. Fortunately, the economic limit will likely be the first we encounter; hopefully we can implement a steady state economy before the others are reached!


Gross Domestic Problem: Don’t Shoot the Measurement

GDP growth is creating more problems than it solves–which is exactly why we need to keep calculating and monitoring it.


Tensions in Ukraine: A Scramble for Growth?

When viewed through the lens of ecological economics and energy resources, the situation in Ukraine comes into sharp focus.


The Negative Natural Interest Rate and Uneconomic Growth

The next nonsensical strategy for maintaining the dream of endless GDP expansion? Negative interest rates!


Growth and Laissez-faire

Laissez-faire takes on a new meaning — it is the ecosystem, not the economy that must be “left alone” to manage itself and evolve by its own rules.