When dealing with economics, we are confronted by a large array of interdependent static and dynamic variables. A change in one effects changes in all, which in turn affect the variable first changed, through its interdependence with the rest.
Cybernetics is perhaps most appropriate for the treatment of economic matters. … Read more
I was reading a popular news magazine last week and two stories followed each other directly. They described events in two neighbouring continents, North and South America. Yet they might have been describing events on two remotely separated planets.
The first story was about an Italian car-industry expert who has, in the past few years, restored the Chrysler motor company to profitability. … Read more
In the Great Depression, and in the stagflationary predicament of the 1970′s and 80′s which threatens to recur as a result of the US credit crisis and the run-up in the cost of resources and food, the work could have been available to employ everyone if the money had been available to pay them. … Read more
An answer must be found to the problems of aging populations in more perfluent countries.
It has been suggested that efforts should be made to achieve and sustain a higher birthrate in the more perfluent countries, to lower the median age and create more taxable workers and more throughput to support ever rising pension demands. … Read more
Another misconception held by many in both “rich” and “poor” countries is that the “rich” should go on making and using ever more goods and services, thereby “creating wealth” that can somehow find its way to the “poor” nations, making them “richer”. … Read more
A fault of flat earth economics as practiced in free enterprise economies is that it chops a nation’s economy into sections that are too often treated as being self-contained and independent of other sections. This is not a useful or realistic view. … Read more
Achieving a sustainable world economy would be nothing less than a great step in human evolution, comparable with the mastery of fire or the development of settled agriculture as opposed to hunting and gathering. It concerns the whole world and needs to be tackled on a world, not just a national, basis. … Read more
Another way, more practical and even already tried though without sufficient firmness or persistence, is to freeze money wages and salaries indefinitely and allow normal increases in the money supply to force more and more into other channels – profits and investment capital. … Read more
Governments are like a doctor who is confronted by a patient suffering from a severe cold. So the doctor says, ‘Right, everyone, let’s cough and sneeze all over him, that’ll cure him!’
The principle of consuming resources at a rate no faster than their rate of renewal appears to be untenable in the case of resources whose renewal rate is almost zero, as is true of fossil fuels, gas, oil, and coal, also fissile uranium and thorium. … Read more