A New Macroeconomic Strategy

Neither neo-Keynesians nor supply-siders focus on the true remedies for this persistent drop in investment spending. Our societies urgently need more investment, particularly to convert heavily polluting, energy-intensive, and high-carbon production into sustainable economies based on the efficient use of natural resources and a shift to low-carbon energy sources. Such investments require complementary steps by the public and private sectors.

Source: www.project-syndicate.org

Jeffrey Sachs is absolutely correct in his criticism of both camps of economists (supply-siders and neo-Keynesians). What we need is radical reform of our economies and of economists.

See on Scoop.itThe Great Transition

The Future of Work, Leisure and Consumption

We’re going to have to deal with working hours, because that’s the only way to stop expanding the size of the economy in any sensible way. So the core of what we need to do is to get back on the trajectory of using productivity growth to reduce hours of work. And that then opens up incredible possibilities in terms of rebalancing the labor market, integrating the unemployed, and having a fairer distribution of hours.

Source: www.truth-out.org

Great must-read interview with economist Juliet Schor on the crisis, consumption and the need to reduce working time.

See on Scoop.itThe Great Transition

EEA: Production and consumption systems need fundamental rethink

Production and consumption systems in the European Union have large, global impacts on the environment. More sustainable ways of satisfying our needs are emerging, but they need more support, according to a new assessment.

Source: www.eea.europa.eu

The European Environment Agency admits we have to live within the limits of the planet, but still  clings to the growth ideology. Thinking beyond growth is clearly too fundamental.

See on Scoop.itThe Great Transition

The Great Transition

This time, with sustainability, it is going to be different. Why is that so? Sustainability implies an economic regime that stays safely within the limits of a finite planet, subjugating the profit principle to the well-being of natural ecosystems. This is, for the first time, an absolute boundary on economic activities and the most wanted innovation would then be an answer to the question of what vision we have for the economy of a sustainability society.

Source: www.andrereichel.de

Excellent must-read essay by Dr. Reichel on the need to change business models and organisational forms for a post-growth society.

See on Scoop.itThe Great Transition

Eurozone stagnation is a greater threat than debt

It would be wrong to think last week’s global market gyrations signal a return of the eurozone debt crisis. Sovereign bond spreads in the eurozone did not move by much, except in Greece. What happened last week is something rather different.

Source: www.ft.com

Interesting that the ‘secular stagnation’ narrative is convincing more economists and pundits. How long before they will recognise that we have entered the post-growth era?

See on Scoop.itThe Great Transition

As cracks in its economy widen, is Germany’s miracle about to fade?

Philip Oltermann: As the markets tumbled last week, Germany, hailed only months ago for its resilience in the European crisis, came under fresh scrutiny. What lies ahead for the European powerhouse?

Source: www.theguardian.com

How Merkel’s austerity obsession will kill the German and European economy.

See on Scoop.itThe Great Transition

This new study explains why fracking won’t solve the climate crisis.

that natural gas is essentially useless as a climate solution unless it is buttressed by new policies that discourage carbon pollution and promote investment in renewable energy.

Source: www.motherjones.com

Summary of a new study in Nature on the fracking ‘revolution’ and its use to help tackle climate change.

See on Scoop.itThe Great Transition


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