It has not been the aim of these posts to provide detailed remedies for every current problem in or related to economics.
It has only been my purpose to outline a more practical and realistic relationship between the human economy and the world we live in, one which favours life over death, progress and enhancement over degeneration. ... 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
Misnamed “Keynesian” deficit financing policies applied in more recent years to “recessions” have contributed more and more to inflation and less and less to alleviating unemployment.
These policies have come to exacerbate the very disease, unemployment, they were meant to remedy. ... Read more
The statements in this post apply particularly to the economic predicament of the 1970’s and 80’s, which may recur under the pressure of modern problems. They do not necessarily hold true for every form of economic malaise; for instance, they would have been inaccurate for the Great Depression of the 1930’s. ... Read more
Public sector employment and transfer payments are limited by the amount of revenue which can be raised, which in turn is limited by how much the private sector can provide without ceasing to be viable, or how much can be borrowed without creating a “deficit bomb”. ... Read more
This post will cross at a different angle, ground covered already.
The belief is still currently widespread, and held by persons of influence in economic affairs, that a general increase in wages will boost the economy, i.e. increase the throughput rate and its derivative by increasing consumer demand. ... Read more
Structuring, or realising, wealth into goods and services is currently called production or output, as though wealth were being created. In fact, this structuring or realisation is part of the process of throughput of wealth.
The use of goods and services, now called consumption in the sense of being opposite to “production”, is really a subsequent process in the throughput chain whereby wealth is degraded into waste matter and heat whence it may be renewed. ... Read more
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
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
Litter “Pollution”: A misleading idea, started when environmental awareness really took off world-wide in the late 1960’s and early 1970’s, is that “pollution” means “litter” and that preventing litter means doing all that’s necessary to prevent pollution and protect the environment. ... Read more