The concept goes way back in the intellectual history of the West, also the East. Simply put, “creative destruction” suggests that in the creation of the new, something of the old is destroyed. Innovation often makes “the old ways” of doing things obsolete. Not surprising. Examples abound in the history of the growth economies of … More Creative Destruction Transformed
The corporate cheerleaders of the last stages of the dying unlimited-growth economy still argue that “growth” is necessary for a healthy economy. The role of growth in our economic culture seemed secure, until the cracks in its foundation grew ominous. Now it’s a big question. As the argument goes, capital growth spurs technological innovation, which … More Capital Contradiction: The Fundamental Flaw that Dooms the Corporate-Growth Economy
Globalization is widely touted in the mass media as both inevitable and good. But why? It is claimed that products are more efficiently produced, labor is more productive, technology is improved by greater innovation, and capital is more efficiently allocated. But wait, there’s less! According to Paul Hellyer, former Deputy Prime Minister of Canada, “Globalization … More The Happiness Factor: What’s the Point of Having an Economy anyway?
Almost everyone agrees that much of America’s infrastructure (highways, bridges, electrical grid, power plants, etc.) is in desperate need of repair or replacement. Economic ideologists of corporate “free enterprise” oppose public investment as they attempt to drive corporate taxes to near zero. Nevertheless, we must find a way to move beyond these old powerful forces … More Moving Toward an Ecological Infrastructure. Part II: Infrastructure of an Ecological Economy
How is money made? Well, in conventional terms we work for it. But where does it come from? We know that the economy needs a sufficient “money supply” so we can exchange “goods and services” every day. Of course, it’s not that simple. After the “Great Recession” of 2008, the Federal Reserve injected hundreds of … More Making Money: The Ultimate Illusion of a Debt-Driven Economy
Robert MacNeil Christie, Author 