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#304605 - 12/23/17 07:55 PM Re: Heretics welcome! Economics needs a new Reformation [Re: logtroll]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7923
Loc: North San Diego County
Quote:
We need to practice valuing all three profit motives, not just the money one. We need to learn to trade in environmental benefits and social benefits with the same facility that we trade money.


The difficulty is that money gives one hard numbers so showing a result is easy. Economic and social benefits are much more subjective. We can't even agree on what IS beneficial, much less quantify it.

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#304607 - 12/23/17 09:24 PM Re: Heretics welcome! Economics needs a new Reformation [Re: pondering_it_all]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8887
Loc: New Mexico (not old Mexico)
There does seem to be a better than even chance that we will extirpate ourselves because of boneheaded stupidity!
_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

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#304615 - 12/23/17 11:57 PM Re: Heretics welcome! Economics needs a new Reformation [Re: NW Ponderer]
matthew Offline
newbie

Registered: 03/24/16
Posts: 353
'
The Invisible Mind of the Marketplace

is much more in evidence than "The Invisible Hand".
.
_________________________
Once, weapons were manufactured to fight wars; today, wars are manufactured to sell weapons

It is far easier to deceive folks than to convince them they are deceived

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#304657 - 12/26/17 03:27 PM Re: Heretics welcome! Economics needs a new Reformation [Re: NW Ponderer]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8887
Loc: New Mexico (not old Mexico)
Excellent article

Quote:
One of Fleming’s predominant themes as he imagines a post-market economy, is a return to a slack economy. The slack or lean economy is a central feature of his broader vision of energy descent, part of the “this steep winding down of the size of the industrial economy.” The slack economy “strips away its burdens and complications, nurses the human ecology back to health, builds local competence and discovers a sense of place.” As most readers of Resilience know, “The descent itself is inevitable, as is the breakage that follows, and yet,” says Fleming, “this is managed descent, in contrast with descent that forces itself on an economy blindly straining for growth”. A slack economy is one that services needs, both economic and other, and thus must protect itself from the tightening forces of competition. It is “held together by richly-developed social capital and culture, and is organized around the rediscovery of community”. It is “protectionist” as in “an act of caring for something which you value, or for which you are responsible”. It has an insulating quality, it does not offer free entry but requires a cultural conversion. It does not equate freedom with the elimination of prohibitions on consumption or the escape from bonds of family or community.
_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

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