What is Wrong with a Zero Interest Rate?

by Herman Daly The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with […]

The Future History of Political Economy – Part 2

Thermodynamics in Economics: Revolutionary portent, future history by Eric Zencey Ecological Economics represents the extension into economics of the thermodynamic revolution of the nineteenth and twentieth centuries. In physics, that revolution dethroned Newton and brought relativity. In biology, it was midwife to the birth of ecology, the study of ecosystems as wholes in which energy networks—food […]

Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down

Magnus-Johnston explains how these investments are funded, and how it exacerbates our economy’s growth imperative.

Piketty Acknowledges a Limit to Inequality–Will He Acknowledge the Limits to Growth?

We are going to need more than a wealth tax to fix our economy.

Nationalize Money, Not Banks

Banks should not be allowed to live the alchemist’s dream by creating money out of nothing and lending it at interest.

The Top Three Actions to Fix the Economy

The typical prescriptions for fixing the economy won’t cut it — it’s time to consider some better options.

Enough: the Central Concept in Economics

In his foreword to the book, Enough Is Enough, Herman Daly contemplates the role of sufficiency in obtaining “the good life.”

More People, Less Unemployment?

In a shocking turn of events, politicians have said some misleading things. They have a lot to learn about the needed demographic and economic transition.

What Is the Limiting Factor?

It is not for nothing that our system is called “capitalism” rather than “natural resource-ism.”

Capital, Debt, and Alchemy

Herman Daly explains Frederick Soddy’s far-reaching economic insight, and he comes up with a doozy of a conclusion.