And why the struggle for a new economic paradigm is about to get real
By Nafeez Ahmed
A comment on Nafeez Ahmed’s excellent column on EROI energy Economics. It noticeably defines the problem with no consideration of the myriad Solutions already extant. I think that the Discussion Threads Offered in my Blog of 29th August Marry well with The Good Doctors Prose.
Absolutely, Time to do more with less and recognise the futility of using Debt Based Money as a Meausre of Economic Utility.
This is a Blog of a converstaion between, AGW Climate Change Skeptics, Proponents of Renewable Energy, Cornucopians and Dystopian Misanthropes.
Solutions are at hand, Political Will is lacking as Vested interests seek desperately for a convincing Myth to continue the bondage of most of humanity.
All Interesting Questions one I would like an answer to is can Capitalism Exist without Debt?
To Wit Martin Shubik.
‘’The monetary and financial system of an economy are part of the socio-politico-economic control mechanism used by every state to connect the economy with the polity and society. This neural network provides the administrative means to collect taxes, direct investment, provide public goods, trade. The money measures provide a crude but serviceable basis for the accounting system which in turn, along with the codification of commercial law and financial regulation are the basis for economic evaluation and the measurement of trust and fiduciary responsibility among the economic agents. A central feature of a control mechanism is that it is designed to influence process. Dynamics is its natural domain. Equilibrium is not the prime concern, the ability to control the direction of motion is what counts.
Money and financial institutions provide the command and control system of a modern society. The study of the mechanism, how they are formed, how they are controlled and manipulated and how their influence is measured in terms of social, political, and economic purpose pose questions not in pure economics, not even in a narrow political economy, but in the broad compass of a political economy set in the context of society. ‘’