Modelling the Post-Fossil-Fuel Future. When the economy will shrink and localism will grow,
In the traditional economic paradigm, growth has been the central pillar upon which models, policies, and societal expectations have been built. From Keynesian frameworks to neoclassical theories, economic models have largely been constructed around the assumption that perpetual growth is both desirable and achievable. However, as we move into the post-growth era—a period characterized by …
In today’s complex world, understanding the various layers of economic activity is crucial for grasping the true nature of wealth, sustainability, and human well-being. The phrase “This real economy, which is energy-based, must be seen separately from the financial economy used by the establishment and classical economists, and the informal economy of localism” encapsulates a …
Posted on August 20, 2024 A very good Post on Tim Morgan’s website. EVEN IN THE GOOD TIMES, THE ECONOMY BARELY OUT-GREW POPULATION “’Cheer up!’, they said; ‘things could be worse!’ “And they were right! “We didcheer up!! “Things didget worse!!!”
The Jevons Paradox, named after the English economist William Stanley Jevons, describes a counterintuitive economic phenomenon in which improvements in the efficiency of resource use lead to an overall increase rather than a decrease in resource consumption. This occurs because the increased efficiency lowers the effective cost of using the resource, which can lead to …
The Big Picture A remarkable transformation is underway in the shifting sands of global economics. The traditional financial economy, focusing on GDP growth, stock markets, and fiscal policies, is gradually receding into the background. In its place emerges a novel paradigm based not on impersonal market forces but on the intimate bonds of extended families …