Oil and other commodity prices have recently been dropping. Is this good news, or bad?
Articles: economic growth (68)
As production (real GDP) grows, its marginal utility declines, because we satisfy our most important needs first.
There is a standard view of energy and the economy that can briefly be summarized as follows: Economic growth can continue forever; we will learn to use less energy supplies; energy prices will rise; and the world will adapt.
Americans are now receiving unsubtle messages from the universe that perhaps we have reached our limits, and it is time to stop trying to grow the economy.
It is a testament to the psychological power of financial bubbles that people who know and trust me and generally accept the analysis I've put forth in my writings over the last decade are jumping into the stock market again with a pledge that they are in for the long term--no matter what.
There is no way out of the Catch 22 within the growth economy model.
Paul Krugman often writes sensibly and cogently about economic policy. But like many economists, he can become incoherent on the subject of growth.
The well-being evidence presents a fundamental challenge to the neoclassical concept of welfare – one which brings the rest of the edifice tumbling down with it.
Is there a way off the economic escalator?
“The American way of life,” George H.W. Bush infamously declared in 1992, “is not-negotiable.” This presents a problem if the American way of life is also unsustainable.