Category: Economy

The system of interaction of humans by which the production and exchange of goods and services are organized, leading to particular forms of distribution and possession of income and wealth.

The Real Cause of Unemployment: Automated and Outsourced Over-Production

May 13, 2014

In a growth economy, new jobs are created on a regular basis because new production expands the employment base. In a shrinking economy, just the opposite happens. The U.S. and most of the industrial world have enjoyed the benefits of expanded production and employment for many decades, minus the occasional downswings of the “business cycle,” … More The Real Cause of Unemployment: Automated and Outsourced Over-Production

Scapegoating for the Oligarchs, or Not

May 8, 2014

Ruling elites routinely distract their subject people by directing attention to individuals or ethnic groups as ‘the enemy,’ and it routinely works. As long as people are distracted by arguments over ethnic and individual culpability and conflict, the oligarchy wins. We could discuss the dominance of the English-American elite over the American economy and politics … More Scapegoating for the Oligarchs, or Not

Collapse: Converging Crises and the American Oligarchs

April 26, 2014

Two new studies now being reported converge in frightening ways with the most recent data on climate disruption. Their results reflect the growing likelihood that the converging crises of economy, social justice, and ecology will lead to the collapse of civilization and even the sixth mass extinction. (Kolbert, 2014) First, Gillens and Page (2014) studied … More Collapse: Converging Crises and the American Oligarchs

Tipping points need Paradigm Shifts: Paradigm Shifts are Tipping Points

March 16, 2014

If you are familiar with the history of science you have probably heard of The Structure of Scientific Revolutions.  In it, Thomas Kuhn describes how science progresses not by gradual evolution but by revolutionary transitions or “paradigm shifts” between “normal science” and new models of reality.  Normal science chips away at small areas of ignorance … More Tipping points need Paradigm Shifts: Paradigm Shifts are Tipping Points

What Middle Class?

March 3, 2014

In recent memory at least, Americans have been uncomfortable with the idea of class.  That somehow has caused a retreat to the middle.  In the context of the myth of universal opportunity for mobility through achievement, it’s almost like Garrison Keeler’s Lake Woebegone, where “all the children are above average.”  The “lower class” is not … More What Middle Class?

Necessary but Unlikely Total Mobilization to Curtail Climate Chaos

February 13, 2014

The inevitability of climate chaos leading to species extinction of humans, along with many other species, now seems assured without massive mobilization and collective action on a scale never before achieved by humans.  Necessary but seemingly impossible – that is not a comforting thought.  Yet, here we are, contemplating whether or not the president will … More Necessary but Unlikely Total Mobilization to Curtail Climate Chaos

Errors, Mistakes, and Stupidity: Why Magical Thinking Can Be Deadly

February 8, 2014

We humans are both rational and emotional beings.  The mix between the two can produce some strange and amusing results.  Conventional economics assumes that all human behavior is rational in the sense that everyone chooses only actions that serve their best economic interests and the result is the best overall outcome for everyone.  Yet all … More Errors, Mistakes, and Stupidity: Why Magical Thinking Can Be Deadly