Stiglitz on America’s Economic Dystopia

Karl FitzgeraldTrue Cost Economics5 Comments

Today I had the pleasure of seeing Professor Joseph Stiglitz speak on the topic of From Measuring Production to Measuring Well-Being, courtesy of the Economic Society of Australia. I became a fan of his following his timely defection from the World Bank as outlined in Greg Palast’s The Globalizer Who Came in from the Cold. I read this article in … Read More

Herman Daly – Scarcity Rents For All

Karl FitzgeraldHot Issues1 Comment

photo credit: SvenDowideit Respected Ecological Economists Herman Daly writes in Modernizing Henry George: Economists have traditionally considered nature to be infinite relative to the economy, and therefore not scarce, and therefore properly priced at zero. But the biosphere is now scarce, and becoming more so every day as a result of growth of its large and dependent subsystem, the macro-economy. … Read More

The Commons Created

Karl FitzgeraldCommentaryLeave a Comment

At least land gets one mention! How are people to envisage that the most important commons created resource is not immediately visible or apparent? Land values must be the anchor to this new commons based future. Bryan Kavanagh says Although publicly-generated land rent was $325 billion, we chose to fine labour and capital to the extent of some $285 billion … Read More