Discussion of Costs Resumed

Partial Accounting: Another spurious “cost” often used as a basis for policy appears as a result of partial accounting. An urban public transport service might be reduced or eliminated on the grounds that the costs of the service are nowhere near covered by passenger fares, and that costs can be reduced and the nation or city thereby enriched by cutting the service.  … Read more

Economic Growth Redefined

A more accurate definition of economic growth would be any change in the relation between the throughput and renewal rates, for a given resource for which throughput exceeds renewal, in which change the ratio of the throughput rate to the renewal rate falls, or conversely the ratio of renewal to throughput increases.  … Read more

Limits to Growth?

Current economics assumes a world of unlimited resources, unlimited wealth. No matter how rapidly a resource is used, either (i) “They” will always find more, or (ii) substitute resources will always be found to serve to any required extent as well or better in place of the depleted resource.  … Read more

The Problem of Government Debt

A major problem for economies around the world is government debt. This matter has been mentioned in other posts. Many governments have been running a deficit on their annual budget for years. It is not universally realised that these deficits are cumulative.  … Read more

More Dollars for Conservation?

So, environmental conservation must be the primary goal, and economic well-being depends on it – not the other way round.

That last phrase refers to the spurious argument that economic “progress” as currently understood, i.e., increasing throughput of wealth, provides money which can be spent on conserving the environment.  … Read more

Hard Work – Virtue or Vice?

People working overtime for extra pay, or purchasing more goods more often, or performing any act that increases their rates of consumption, may justify themselves or be justified by governments or the media with the argument (consistent with current economic thinking) that by doing so they are boosting the economy, creating wealth, giving employment to people.  … Read more

Stabilising the Human Population

People love their children, and children generally are a source of pleasure. Some people even claim to derive deep satisfaction from a houseful of seven or eight youngsters. But it is true to say of most people regardless of ethnicity or location that, if they had a really free choice, they would rather have a manageable number – enough for pleasure and company – but not the heavy load of six to a dozen or more.  … Read more

Employment and the Steady State

It is necessary here to repeat a point made or implied earlier, that the level and rate of change of economic activity and the level of unemployment are to a large extent independent of one another. Not totally independent of course, each is one determinant of the other.  … Read more

Digression: Work and Jobs

The Mitterand socialist government in France during the 1980′s hoped to create tens of thousands of jobs by cutting working hours. The basic working week was to carry the same pay, therefore each hour worked was to carry more pay.  … Read more

If you can’t teach them, beat them.

It is suggested that a society that brings up its children as described here, is not a life-loving society that nurtures its children. It is a cannibalistic society that devours its children. Continue reading

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