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 […]

Peace, Love, and the Gift

If we are to degrow the economy towards a steady state, we’re going to need to be a whole lot more generous, a whole lot happier, and more grateful for what we have already.

Use and Abuse of the “Natural Capital” Concept

Herman Daly explains how we can use prices now as tools for rationing a fixed predetermined flow of resources, rather than determining the volume of resources taken from nature, or the physical scale of the economic subsystem.

Do U.S. Election Financing Laws Force Politicians to Ignore Limits to Growth?

Brent Blackwelder explains the connection between campaign financing laws and a steady state economy.

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.

How I’ve Responded to the Financial Crisis

Maybe pirates had a good idea about burying their loot — see how to disentangle yourself from the too-big-to-fail financial system.

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.

Capital, Debt, and Alchemy

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

Defusing the Debt Bomb

James Johnston asks, “Where’s the bomb squad,” as the U.S. debt threatens to blow the lid off the economy.

Ecosystem Services: Pricing to Peddle?

Markets are good for several things, but allocating ecosystem services is not one of them.