The nature of money is to abstract value. That is its role. It stands in place of an actual good or service. If I fail to have the basket of potatoes you are seeking in exchange for the wool from […]
CTRLshift: An Emergency Summit for Change
In Britain, these days, all the essential endeavors that are supposed to promote general wellbeing and what is known as “civilization” are, it is widely agreed, in crisis: health and social services; housing; education; energy; transport; and of course, though […]
Agriculture and Autonomy in the Middle East
Editor’s Note (March 29th, 2018): An earlier version of this article incorrectly described MEM as operating in Rojava. In fact, MEM only operates formally in North (Turkish) Kurdistan, though its goals and principles are also being pursued by groups in […]
In Defense of Degrowth
The economist Branko Milanovic recently wrote a blog post titled “The illusion of degrowth in a poor and unequal world.” He penned it, he says, following a conversation he had with a proponent of degrowth. As it turns out, that […]
Averting the apocalypse: lessons from Costa Rica
Earlier this summer, a paper published in the journal Nature captured headlines with a rather bleak forecast. Our chances of keeping global warming below the 2C danger threshold are very, very small: only about 5%. The reason, according to the […]
To Find Alternatives to Capitalism, Think Small
In the aftermath of Donald Trump’s shocking election victory, a shattered Democratic Party and dazed progressives agree on at least one thing: Democrats must replace Republicans in Congress as quickly as possible. As usual, however, the quest to recapture power […]
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 […]
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 […]
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 […]
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, […]