Economics

“FEDERAL RESERVE NOTE” “THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE” Two intertwined events took place between the end of World War II and the dawn of the 21St Century.

“Think Global, Act Local,” – Anonymous. “Re-localization is a critical step in moving toward sustainability. The “global economy” is one of the culprits of our present mess,” – John Ehrenfeld. “Sustainability is the possibility that human and other life will flourish on the planet forever,” – John Ehrenfeld. Ehrenfeld, author of “Sustainability by Design,” here,   […]

Tweet  “The United States,” according to Robert Barro, who teaches economics at Harvard and is a “fellow” at the Hoover Institution, “is in the third year of a grand experiment by the Obama administration.” This is inaccurate. Obama is the President, but the US Constitution provides a framework in which power is divided into three […]

Tweet I am presenting “Beyond Fuel: From Consuming Natural Resources to Harnessing Natural Processes,” a discussion of the hidden costs, or “economic externalities,” of nuclear power, coal, and oil, and the non-obvious benefits of wind, solar, marine hydro and efficiency at the Space Coast Green Living Festival, Cocoa Beach, Florida, Sept 17, 2011. The festival  […]

   Tweet I thought the market would crash in the wake of the Earthquake / Tsunami / Nuclear Meltdowns at Fukushima. It didn’t. However, something much less serious may be bringing the market – and the economy – to it’s knees. Politics. The Voice of America reported here that Standard & Poors downgraded US debt from AAA to AA+. […]

As any freshman economics student should know, the Gross Domestic Product, GDP, is a measure of spending, derived from the Gross National Product, GNP, defined by Simon Kuznets during the Depression (click here for econlib).  GDP is, at best, an indirect measure of wealth.  The Genuine Progress Indicator, GPI, defined by Think Progress in 1995, […]

Tweet    During the Great Depression the Classical Economists said “Unemployment is voluntary. Business owners will not voluntarily keep the means of production idle.”  While he had been a student of classical economics, John Maynard Keynes observed that the data didn’t fit the theory. And, he reasoned, if the observable data don’t fit the theory, […]

Tweet Earth Day, 2010, I looked to the future on Popular Logistics. In 2009, I wrote about water pollution and agricultural waste in the Chesapeake. Today I am looking at the present and recent past. While a comprehensive look at where we are can be found on the web pages of the World Watch Institute, […]

First in a series on the earthquake, tsunami, aftershocks and partial meltdown in Japan

As we consider the Centennial of President Reagan’s birth, it is important to note that while he cut taxes on some taxpayers, he raised taxes on other taxpayers. As the graph, presented by Barry Ritholtz at Business Insider, shows, the deficit shot up under President Reagan, as it did under Presidents Woodrow Wilson, Herbert Hoover, […]

New Jersey taxpayers could net $36.9 million per year, $369 million over 10 years, with the installation of 152.5 megawatts (MW) of photovoltaic (PV) solar electricity systems on public schools, community colleges, and each of the public universities in the state. The systems would pay for themselves within the first 8 years. At 2010 values […]

Robert F. Kennedy, in a speech at the University of Kansas, March 18, 1968,  said: “Our Gross National Product, now, is over $800 billion dollars a year, but that Gross National Product – if we judge the United States of America by that – that Gross National Product counts air pollution and cigarette advertising, and […]

The Giant Pool of Money is an outstanding radio documentary which explains, in watch full movie large part, our current economic woes. If we have the chronology right, this episode of This American Life – now rebroadcast as “Return To The Giant Pool of Money” led to NPR’s creation of the blog Planet Money.   Click […]

The hand is quicker than the eye – especially when the hand is invisible and the eye is closed or blind. The heavy hands of wisdom and authority must guide the invisible hand of desire without limits, just as a parent stops a child from grabbing too many cookies before dinner and a shop-keeper stops […]

Back in 1931, John Maynard Keynes wrote “the economic problem may be solved within a hundred years. . . We must be smart, and ruthless.” We certainly are ruthless. If we were smart, we would stop living off the principle and live off the interest – renewable energy.