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
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
The fierce conflicts between conservationists on one side and workers, industrialists, and some politicians on the other arise from a misconception.
Both parties in fact desire the same goal – economic well-being. But the latter and many of the former believe that environmental conservation and economic progress are conflicting aims, between which a balance or compromise must be found. ... Read more
By Diana Massam, Secretary, Environmental Communicators’ Orgnanisation (UK)
In ‘Economics for a Round Earth’, Charles Pierce challenges previously accepted economic ideals and methods of management, as fundamentally flawed and outdated. He proposes drastic changes, but stresses that these can only be achieved as a series of progressive trends. ... Read more
These increases or decreases, it must be emphasised, would be not necessarily absolute, but relative to what real wages would have been, depending on other variables, if the money wage change had not taken place. It is necessary to be reminded constantly that we are dealing with an array of interdependent dynamic variables. ... Read more
The terms derivative and differential are used here in their mathematical sense, denoting rates of change.
Gross national product and living standard are treated as measures of quantity of wealth. In fact, they are not the quantity but its first derivative or first differential, the rate of wealth-throughput. ... Read more
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
It is necessary for a lender of money to charge interest because the purchasing power of each money unit is generally expected to fall with time. This has been the trend historically and the very operation of the economy tends to make it so. ... 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