The ideas of Henry George are still very relevant for economic theory. A site value tax would help to stabilise property market cycles and promote greater spatial efficiency. However, while helpful, market mechanisms like a site value tax will not, … Continued
This chapter describes the “marginal revolution” of neoclassical economics. The idea of marginal productivity and payments to “factors of production” was developed for ideological reasons to counter thinkers like Marx and George. The theoretical framework learned by generations of students … Continued
Henry George and Karl Marx developed alternative radical theories out of the ideas of Adam Smith and David Ricardo. The classical economists did not mince their words. As Mason Gaffney puts it: … classical political economy was a remarkable phenomenon. … Continued
What economists call “externalities” are not unusual or a special case, they are ubiquitous. They are rooted in private property and the relationships of market society. The way in which non market societies protect bio-diversity through totem arrangements is described.
This presentation by Brian Davey, made in July 2016 on behalf of Frack Free Notts, outlines the problems with the regulatory structure for unconventional gasfield development in the UK. It discusses the problem of “regulatory capture” by the industry, deceptive PR, the selective recognition of ‘experts’ and siloing of different aspects of safety (such as the environment and health).”
Nineteenth century economics is described in this chapter as a subject used to train a psychopathic imperial elite – this is illustrated by the policies recommended by economists to manage famines in Ireland and India. The poor had only themselves … Continued
This chapter about the power elite on display and the economics of Thorsten Veblen covers topics like conspicuous consumption and the consumer society, branding and the manufacture of wants. The role of advertisers is explored as well as the way … Continued
Public health is an alternative indicator of well-being and is strongly correlated to levels of equality or inequality. Greater equality means greater well-being for everyone and a smaller need for the state – yet inequality has been increasing dramatically. My … Continued
Those whom the gods wish to destroy they first send mad Introduction The aim of this article is to show that the shale industry, whether extracting oil or gas, has never been financially sustainable. All around the world it has … Continued
It would be valuable to integrate into our theorisation of what happens in the course of the credit and other economic cycles and events, the emotional changes of the people involved as they act and live through these events. Very often, people live with their emotions but barely notice them.