Herman Daly

Financial Overshoot

Author: 
John Fullerton
Last week, I gave a talk to the Missouri Association of Public Employee Retirement Systems annual meeting.  This was the first time I presented my developing thesis of financial overshoot, which arithmetically accompanies ecological overshoot unless we manage to decouple economic growth from material resource throughput in the economy, the Hail Mary pass of all time.
 
The implications are not comforting for investors, especially for pension funds which have plenty of problems already with underfunded pension plans in a climate of financial repression caused by zero interest rates and economic stagnation.

Guest Post: Limits to Growth - Forty More Years?

Author: 
Herman Daly

From The Next Forty Years, Jorgen Randers, ed. (forthcoming)


Forty years ago when I read The Limits to Growth I already believed that growth in total resource use (population times per capita resource use) would stop within the next forty years. The modeling analysis of the Meadows’ team was a strong confirmation of that common-sense belief based on first principles going back at least to Malthus and earlier classical economists.

Debt Limit Nonsense

Author: 
John Fullerton

The debt limit negotiations are 99% political and 1% economic, so I have little directly to say about them.  But I do have some related thoughts to share as we stumble toward the deadline, with much wasted tax payer money paying for amateur hour in Washington while real challenges are left to smolder and in some cases burn.

Guest Post: What Should We Tax?

Author: 
Herman Daly

Hell Hath No Limits

Author: 
John Fullerton

Somehow I missed the release of a new collection of essays by Wendell Berry in 2010, What Matters: Economics for a Renewed Commonwealth.  The introduction is by Herman Daly, whose clarification of how scale limits transform economics remains the most important idea still not acknowledged in mainstream economics today. 

Guest Post: Fitting the Name to the Name

Author: 
Herman Daly

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