Insight and inspiration in turbulent times.
In a recent speech to the International Monetary Fund economist Larry Summers argued that since near zero interest rates have not stimulated GDP growth sufficiently to reach full employment, we probably need a negative interest rate.
The central point of economic policy is maintaining or increasing economic growth…Do you think it’s a realistic approach? An interview with Richard Heinberg for the Polish site Dziennik Opinii.
Tis the season for gift giving, and if mainstream economists are right, then the best possible gifts are the ones that contribute the most to economic growth.
This one’s about dumb, dumber, and dumbest, plus two intermediate levels for good measure. Ready for the inglorious countdown?
According to New York Magazine and economist Robert Gordon, the good times are over.
My question was: if GDP has so many flaws and numerous attempts were made at finding ‘better’ numbers, then why are we are still using GDP? Is it possible that there are specific interests supporting the nexus between GDP and policymaking? What are the political dimensions of this almighty number? So I set out to do my research on the history of GDP and realized that this story needed to be told. The story of GDP is the story of how we built the type of society we live in. It is the story of how economics took over all other sciences to become the servant of power.
We are far enough and deep enough into the most heroic monetary and fiscal efforts ever undertaken to finally ask, why aren’t these measures working? Or at least we should be. Oddly, many in DC, on Wall Street, and the Federal Reserve continue to steadfastly refuse to include anything in their approaches and frameworks other than "more of the same."
•The Trillion Dollar Coin vs. Limits to Growth •Michael Shuman… there’s a local business revolution on the horizon, and we can make it happen •It’s the New Economy, Stupid •Perfect storm, energy, finance and the end of growth
Climate destabilization eclipses all other security threats to human civilization except for a major nuclear war. But the current global economy gives no signals to investors and consumers about the profound implications of climate destabilization on water cycles, agriculture, and humanity’s ability to grow food for seven billion people.
