Can someone recommend environmental and ecological #economics literature from the moral perspective that the only relevant metric is #WildAnimalWelfare What economic policies would have the best impact in reducing wild animal suffering?
“If infinite growth in a finite system cannot continue, it won’t.”
That we have a thing separate and apart from physics called “economics” is testament to greed prevailing over logic.
This becomes abundantly clear by simply asking the question: Why aren’t the negative externalities from production ever accounted for on a balance sheet? It’s intentional accounting myopia. It’s a direct affront to the physical laws of the universe.
But, poof … economists call it “profit,” when in fact it is a loss.
You read economists like Herman Daly, Steve Keen, and Philip Mirowski these truths just snap into place. Recently finished Mirowski’s “More Heat Than Light — Economics as Social Physics, Physics as Nature’s Economics.”
What would happen if we totally got rid of legal fiction we call money. And replaced it something finite and tangible we could place a value on -- you know, like the gold standard.
But instead of some random shiny stuff -- it was carbon.
Everything is assigned a carbon value. Each of us are given equal carbon spending limits, which fluctuate given the current population of the planet.
“It is much more difficult to have serious discussions of alternative systems if we work under the illusion that government-granted patent monopolies are somehow the free market.“ @DeanBaker13
Doing a bibliometric study of political science, history, economics and looking for journals that have been relatively central to English-language scholarship over a long print run. Need to have a few that were central early on (1930-1950). Recommendations? #history#polisci#econ
listening to the #donut#econ book by Kate Raworth that's been on my list for so long. In the intro, she identifies four economic spheres, the home, the market, the commons, and the state. I think these are too concrete. Math requires the greatest abstraction possible. I have identified three paradigms that could be modeled as complementary currencies. The first is what we've got in #capitalism: ① scarcity-based, incl fiat, cryptocurrency, & rare fungibles like gold.
Give a million average people $600 and they will spend it all in the economy. If a million people give $600 to a billionaire, he has another $600 million to sit on.
This is why we have inflation. When we create wealth it eventually gets hoarded instead of recirculated, devaluing our currency.
If we tax excess wealth and support workers by legislating better wages, and bust monopolies instead of unions, that would fight inflation. Return the money to the people.
@MollyNYC@ned The whole defense of #capitalism supposedly based on #economics is based on obfuscating the actual legal structure of property rights under capitalism in favor of a metaphor about division of the product. In terms of that actual structure, the employees of a firm legally own 0% of the positive and negative product of the firm while the employer legally owns 100% of the whole product
If the current inflation is not based on a wage-price spiral, and interest rate hikes normally reduce inflation by weakening economic activity to reduce labor bargaining power ...
... how are interest rate hikes going to stop inflation that is caused by companies realizing they can hike prices to obtain fatter margins?
Is the global housing slump over? (www.economist.com)