Economic Policy

by Brian Czech

If you recognize the damages done by a bloating economy, you’ll be alarmed by the global GDP meter, which hit the existentially menacing threshold of $100 trillion in 2022. If that doesn’t give you a dose of distress, try the global debt clock. Then, for a dizzying dose indeed, check the casino-like combination of debt and GDP maintained by “US Debt Clock.”

Almost all readers,

The post Debt, Deficits, and Warranted Money appeared first on Center for the Advancement of the Steady State Economy.

by Daniel Wortel-London

The daily news regularly features commentary about the outrageous and growing income inequality in the USA. The data support the outrage:

• In 1965, the CEO-to-worker salary ratio at the average U.S. company was 21-to-1. Today that ratio is 344-to-1.
• In 2022, CEO pay at 100 S&P 500 companies averaged $15.3 million, while median worker pay averaged only $31, 672, according to an Institute of Policy Studies analysis.

The post Introducing the Salary Cap Act appeared first on Center for the Advancement of the Steady State Economy.

This is a bit of a catch up post from last year when I was interviewed on The Project. After federal Treasury’s Measuring What Matters framework came out, there was a lot of criticism about the timeliness of the data … Continue reading →

by Brian Czech

The only way to arrive at a safe, sustainable, steady state economy is with substantial behavioral and political reform. Those two categories of reform correspond roughly with the demand side and supply side of the economy, respectively. In the simplest of terms, people must conscientiously demand less—wealthy people in particular—and policymakers must help ensure that the supply of goods and services is not in a state of overshoot.

My focus here is on the supply side.

The post Defining “Economic Development” in Statutory Law: Content and Strategy appeared first on Center for the Advancement of the Steady State Economy.

by Daniel Wortel-London

On August 14, Montana’s Supreme Court ruled that in light of Montanans’ constitutional right to a clean environment, the failure of state agencies to take climate change into account when considering new projects is illegal. This ruling, resulting from a lawsuit by 16 young people, is being followed up by a similar trial in Oregon—and another is pending in Hawaii. At a moment of legislative disappointment across the sustainability policy landscape,

The post Suing for the Steady State appeared first on Center for the Advancement of the Steady State Economy.

by Gary Gardner

One of the more puzzling features of modern life is the starkly contrasting visions of humanity’s near-term future. Watch thirty minutes of commercial-filled TV and you get a cheery sense that all is well in the world. A BMW, an anti-depressant, or a Caribbean vacation—these will ensure ever greater happiness.

At the same time, a 2021 poll in ten countries found that four in ten young people are hesitant to have children because of the climate crisis.

The post Which Future? appeared first on Center for the Advancement of the Steady State Economy.

by Daniel Wortel-London

A chapter in the U.S. Code entitled “Statements to accompany significant regulatory actions” contains a critical directive. It declares that any notice of proposed rulemaking by a federal agency that may result in expenditures of $100,000,000 or more must be accompanied by an estimate of that rule’s effect on economic growth.

Take out your editor’s pen. Imagine amending this code by replacing “economic growth” with “economic stability.” How might this simple change transform the purpose and operation of federal laws?

by Daniel Wortel-London

The economy of the USA, like that of any other nation, depends on natural resources—minerals, timber, fossil fuels, land, and a host of other renewable and nonrenewable assets. It couldn’t function without these resources any more than you or I could survive without air. So you’d think that determining whether our country’s demand for natural resources exceeds the environment’s supply would be of the greatest importance to politicians.

The post Who Tallies the Resources? appeared first on Center for the Advancement of the Steady State Economy.

by Daniel Wortel-London

Inequality threatens people and planet alike. Billions struggle to make ends meet while a tiny minority grows fabulously wealthy. At the same time, the conspicuous consumption of the wealthy and the waste they generate takes an enormous environmental toll. The intertwining of social and environmental damage suggests that standard fixes for inequality are inadequate.

Herman Daly thought that waste from the wealthy could not be ended through redistributive taxation alone.

The post Limits to Wealth = Limits to Growth appeared first on Center for the Advancement of the Steady State Economy.

by Gary Gardner

Official Washington is all aflutter over whether Congress should raise the ceiling on U.S. government debt. But this is not the most pressing debt question our country faces.

To see why, step back and enlarge the frame.  A new question emerges: Why would Congress create an artificial and wholly unnecessary debt crisis while ignoring a far more dangerous and decidedly real debt trap? I speak of our ballooning ecological debt,

The post What About the Other Debt Ceiling? appeared first on Center for the Advancement of the Steady State Economy.