This essay is dedicated to the memory of Herman Daly, the father of ecological economics, who began writing about the absurdity of perpetual economic growth in the 1970s; Herman died on October 28 at age 84.
Politicians and economists talk glowingly about growth. They want our cities and GDP to grow. Jobs, profits, companies, and industries all should grow; if they don’t, there’s something wrong, and we must identify the problem and fix it. Yet few discuss doubling time, even though it’s an essential concept for understanding growth.
High inflation, a looming recession, supply chain uncertainty — the Canadian economy is on a bit of a roller-coaster ride right now and federal government finances are no exception. This time, there’s good news: the federal government released its annual fall economic statement Thursday, revealing a revenue windfall of $30 billion — enough to cut the deficit in half this year.
The Doug Ford government has just turned a minor labour dispute into class war in Ontario.
Refusing to budge in negotiations, offering a piddly 10 per cent wage increase when 50 per cent was demanded, the Ford government, usually notoriously lazy, started the legislative session at 5 a.m. on November 1 to drive through a bill that not only removes union rights to free collective bargaining and to strike in Ontario but also puts at threat all of our constitutionally protected rights.
The world’s seven biggest oil firms are projected to reap gargantuan profits of US$173 billion this year, leading to fresh calls for windfall taxes on a sector that has thrived after Russia’s war in Ukraine led to sky-high fuel prices.
Days before world leaders, civil society organizations and powerful corporate lobbyists descend on Sharm el-Sheikh, Egypt, for this year’s annual United Nations climate conference, an influential banking alliance dropped a bombshell.
Website editor: the second short video below is worth watching - "Heating and eating: can cost of living and climate protesters join forces?"
Oct. 26, 2022
As the crackdown on our freedoms intensifies, the list of our national ailments seems endless. But there’s one issue that can prise things open
Before we decide what needs to change, let’s take stock of what we have lost. I want to begin with what happened last week. I don’t mean the resignation of the prime minister. This is more important.
The word "credible" in the Guardian headline brings to my mind the word "incredible," as in: it is incredible that democratic government planning is not counter-posed to the current, deeply discredited strategy of tinkering with capitalist market mechanisms. ECOSOCIALISM OR BARBARISM!! The latter choice is already being imposed on too many people on the planet.
Last week, Alex Nunns, author of ‘The Candidate – Jeremy Corbyn’s Improbable Path To Power’ and former Corbyn speechwriter, described the current assault on democracy within the Labour Party:
‘What’s happening in the Labour Party is new. The Labour right, having had the shock of their lives in 2015, are now intent on eradicating the left entirely. This isn’t how their predecessors thought. It’s a new departure in Labour history that’ll have long term consequences.’
Here's a very excellent video adaptation of a 2010 David Harvey presentation which explains the 2008 economic crisis and how the financialization of capital (among other things) helped to contribute to that crisis.
In this RSA Animate, celebrated academic David Harvey looks beyond capitalism towards a new social order. Can we find a more responsible, just, and humane economic system?
