Artificial wealth comprises the things which of themselves satisfy no natural need, for example money, which is a human contrivance. ~ St. Thomas Aquinas Buzzwords seem to rule public discussion of just about everything. Money is no exception. Now it’s “Modern Monetary Theory.” What’s that? Well, it depends on who you ask. In modern times, … More Debate on “Modern Monetary Theory” Misses the Mark
Politicians love to talk about “job creation.” They wallow in social illusion in order to appear to care about the economic future of the people and the nation. At the same time, they pander to the interests of job destruction, whether through automation, international outsourcing, or simply unlivable wages. At the same time, they facilitate … More The “Jobs” Illusion(s) and the Work We Must Do
We are a Capitalist Culture. The entire course of the industrial era has been driven by capital investment in technologies and materials that together have increased economic production. In the U.S. – contrary to corporate folklore – much of that capital investment has been made by the government, often at the behest of business. Infrastructure … More Capitalist Culture and the American Worker
An ecological society will require some basic changes in the way we live. Most analyses of climate change are about disruptions leading to untenable future conditions. Specific reductions in carbon emissions will require transformation of economic infrastructure, which is rarely discussed. To stabilize global temperature, return to 350 parts per million of CO2 in the … More Moving Toward an Ecological Infrastructure. Part III: Ecological Transformation
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
Economists are often confused by their own wallowing in esoteric but useless mathematical formulations of unquantifiable human complexities. But we just can’t afford their foolishness anymore. Investment in infrastructure is desperately needed, but not by merely restoring the infrastructure of the old growth economy. That needs to be replaced by a new viable infrastructure for … More Moving Toward an Ecological Infrastructure. Part I: From Growth to Development
Robert MacNeil Christie, Author 