A recent study of air pollution in the western United States made a startling finding: despite a 50 percent drop over the past 25 years in US emissions of smog-producing chemicals like nitrogen oxides (NOx), smog actually increased during that period in the rural US West – even in such ‘pristine’ environments as Yellowstone National Park. Most of this increase was traced to “the influx of pollution from Asian countries, including China, North and South Korea, Japan, India, and other South Asian … [Read more...]
Globalization’s Blowback
Our Obsolescent Economy
A friend of mine from India tells a story about driving an old Volkswagen beetle from California to Virginia during his first year in the United States. In a freak ice storm in Texas he skidded off the road, leaving his car with a cracked windshield and badly dented doors and fenders. When he reached Virginia he took the car to a body shop for a repair estimate. The proprietor took one look at it and said, “it’s totaled.” My Indian friend was bewildered: “How can it be totaled? I just drove it … [Read more...]
From Growth to Degrowth: a brief history
The notion of economic growth as a regular, ongoing, self-sustained process no longer holds up to critical analysis. Even during what’s been called “The Glorious Thirty” – the years between the end of World War II and the 1974 oil crisis – growth occurred almost solely in industrialized countries and involved a minority of the world population; it was built on the senseless waste and pillaging of limited natural resources, access to cheap fossil fuels, dependency on killer technologies and the … [Read more...]
Life in a ‘degrowth’ economy, and why you might actually enjoy it
What does genuine economic progress look like? The orthodox answer is that a bigger economy is always better, but this idea is increasingly strained by the knowledge that, on a finite planet, the economy can’t grow for ever.But what is a steady-state economy? Why it is it desirable or necessary? And what would it be like to live in? The global predicament We used to live on a planet that was relatively empty of humans; today it is full to overflowing, with more people consuming more … [Read more...]
Trump Trauma
While we mourn the tragedy that fear, prejudice and ignorance “trumped” in the US Presidential election, now is the time to go deeper and broader with our work. There is a growing recognition that the scary situation we find ourselves in today has deep roots.To better understand what happened—and why—we need to broaden our horizons. If we zoom out a bit, it becomes clear that Trump is not an isolated phenomenon; the forces that elected him are largely borne of rising economic insecurity and … [Read more...]
Will the Poor Always Be With Us?
It’s a familiar story. On his final journey toward Jerusalem, Jesus stops in Bethany to eat at the home of Simon, a leper. A woman enters with an alabaster jar of expensive ointment; she breaks the jar and pours the ointment on his head. Her gesture invokes the fury of some of those present. The ointment was worth a year’s wage, they grumble. It could have been sold, and the money given to the poor.“The poor will always be with you” was Jesus’ righteous and innocent enough reply. Jesus … [Read more...]
The Sharing Economy: It Takes More Than A Smartphone
I ran into my friend Rick the other day in a small town near our homes in northern Vermont. He was just coming out of the bookstore, holding a pink plastic bag that, I would soon learn, contained a dozen eggs from his flock of free range hens. After a bit of small talk, Rick asked, “you don’t by any chance have a pair of jumper cables in your car?” I did. “Would you be willing to drive over to the post office and jump my pickup truck? I’ve been trying to park on hills until I can get a new … [Read more...]
An Economy of Meaning – or Bust
It’s not often that a scientist gets to use the words love, creativity, and wisdom in a paper, especially when writing about economics. Perhaps that’s because economics, the dismal science, is obsessed with dismal systems – make that abysmal systems, relative to need.To be clear, I’m not speaking of the specific policies of the US, the EU, China, the World Bank or others. I’m speaking of dominant economic systems as wholes – especially their underlying conceptual models (macro and micro) and … [Read more...]
Why are my highly educated friends so ignorant about trade?
Trump is a catastrophe, but so was the TPP.Since Donald Trump was elected President of the United States, I’ve found myself talking for the first time with a lot of my 20-something friends about trade agreements.My friends didn’t vote for Donald Trump. Most are from “liberal” parts of the US. They went to good schools for 12 years, worked hard, got good grades. Many went on to top colleges and universities, places like Stanford, Yale, NYU, UCLA.And yet most of them know almost … [Read more...]
Trump’s Populist Deceit
While misogyny, racism, and ethnic taunts were conspicuous signposts on Donald Trump’s path to the White House, much of that road was paved with “populist”, “anti-establishment” and “anti-globalization” rhetoric. Trump’s inaugural address featured numerous populist lines (e.g. “What truly matters is not which party controls our government, but whether our government is controlled by the people”), attacks on the status quo (“The establishment protected itself, not the citizens of our country”), … [Read more...]