• Guest Post: The Infinite-Planet Approach Won’t Solve the European Debt Crisis

    January 9th, 2012 by Eric Zencey

    This is a take on the debt crisis in a finite world written by our friends at the Center for the Advancement of the Steady State Economy.  For the Capital Institute perspective, check out What’s Wrong With the Debt Debate

    [At the beginning of December last year] European leaders met in Brussels and, like sophomores cramming >> Read more

  • Guest Post: What Should We Tax?

    July 11th, 2011 by Herman Daly

    For some time a small group of ecological economists has been suggesting that we switch the tax base from income (value added to natural resources by labor and capital), and on to natural resources themselves. Value added to resources is something we want more of, so don’t tax it (either at each stage of production as in Europe, or at the final stage as income as in the U.S.). The >> Read more

  • Guest Post: Mountebank Wins Nobel for Infinite Planet Theory (Humor)

    May 29th, 2011 by Rob Dietz

    Few people have read the dense volumes published by the economist Milton Mountebank, but his work has affected you, me and every single person on the planet. Dr. Mountebank has revolutionized economic thought, and now he has been recognized for his singular efforts. Yesterday at a gala reception in Stockholm, Sweden, the chairman of Sveriges Riksbank, Peter Norborg, presented Dr. Mountebank >> Read more

  • Guest Post: Sustaining Our Commonwealth of Nature and Knowledge

    February 2nd, 2011 by Herman Daly

    Let’s start with this phrase: “sustaining our commonwealth.” By sustaining, I don’t mean preserving inviolate; I mean using, without using up. Using with maintenance and replenishment is an important idea in economics. It’s the very basis of the concept of income, because income is the maximum that you can consume today and still be able to produce and consume >> Read more

  • Guest Post: Homo Economicus Versus Person-in-Community

    January 10th, 2011 by Herman Daly

    The problem with Homo economicus (the abstract picture of a human being on which economic theory is based) is that she is an atomistic individual connected to other people and things only by external relations. John Cobb and I (For the Common Good) proposed instead the concept of “person-in-community” whose very identity is constituted by internal relations to others in the >> Read more

  • Guest Post: A Shift in the Burden of Proof

    December 7th, 2010 by Herman Daly

    Preface for Sustainable Welfare In The Asia-Pacific: Studies Using the Genuine Progress Indicator, by Philip Lawn and Matthew Clarke, 2008

    It is no small thing to shift the burden of proof. Yet that is what Lawn and Clarke, and their colleagues, have done in this remarkable study >> Read more

  • Guest Post: Thermodynamic Roots of Economics

    November 8th, 2010 by Herman Daly

    The first and second laws of thermodynamics should also be called the first and second laws of economics. Why? Because without them there would be no scarcity, and without scarcity, no economics. Consider the first law: if we could create useful energy and matter as we needed it, as well as destroy waste matter and energy as it got in our way, we would have superabundant sources and sinks >> Read more