Recently, John Michael Greer
has been exploring a little known idea of the deceased economist E.F. Schumacher
(a student of the oft-discussed Keynes
). "Schumacher drew a hard distinction between primary goods and secondary goods. The latter of these includes everything dealt with by conventional economics: the goods and services produced by human labor and exchanged among human beings. The former includes all those things necessary for human life and economic activity that are produced not by human beings, but by nature. Schumacher pointed out that primary goods, as the phrase implies, need to come first in any economic analysis because they supply the preconditions for the production of secondary goods. Renewable resources, he proposed, form the equivalent of income in the primary economy, while nonrenewable resources are the equivalent of capital; to insist that an economic system is sound when it is burning through nonrenewable resources at a rate that will lead to rapid depletion is thus as silly as claiming that a business is breaking even if it’s covering up huge losses by drawing down its bank accounts." [more inside]
posted by symbollocks
on Jul 10, 2009 -
- "of an individual, business or nation is defined as the total volume of freshwater that is used to produce the goods and services consumed by the individual, business or nation"
posted by Gyan
on Jan 11, 2007 -
California Blackouts Inevitable
says the U.S. Govt Energy Secretary. He is against price caps. It seems there is a lack of understanding on his part to grasp a *public good* that benefits all. Having a few producers control a market with a high cost for competitors to enter the market to form true competition screams for some control. Particularly for a commodity that business and people a like use to drive the overall economy. Since the economy is in such great shape maybe we don't need these controls [sic].
posted by vanderwal
on Mar 16, 2001 -