tag:blogger.com,1999:blog-35117130.post3966906123920917580..comments2024-03-18T20:18:14.088-04:00Comments on Northern Reflections: It's Gone ViralOwen Grayhttp://www.blogger.com/profile/06464860078574618579noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-35117130.post-55535853782305489162016-12-18T07:32:24.787-05:002016-12-18T07:32:24.787-05:00Thanks for the reading list, Mound. I need some up...Thanks for the reading list, Mound. I need some updating.Owen Grayhttps://www.blogger.com/profile/06464860078574618579noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-45115215677230451722016-12-18T07:22:33.718-05:002016-12-18T07:22:33.718-05:00The true measure of any society has always been ho...The true measure of any society has always been how well all its members prosper, Anon. But there has always been a counter argument: Success is individual. Margaret Thatcher took that argument to the extreme. There is no such thing as society, she said. And we have reaped what she -- and others -- have sown.Owen Grayhttps://www.blogger.com/profile/06464860078574618579noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-15846332701642520362016-12-17T23:06:25.300-05:002016-12-17T23:06:25.300-05:00Have we reached a state with over population and u...Have we reached a state with over population and uncontrolled environmental degradation that all of the above is now meaningless?<br />Have we reached the point of no return that neither economics or science can save us?<br />Across the WWW the argument circles around who will get what; not what do we do to make it work.<br />Left vs right dynamics! never ending one upmanship.<br /><br />Anonynon<br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-35117130.post-56291991290668270942016-12-17T15:54:47.934-05:002016-12-17T15:54:47.934-05:00Neoclassical economics, actually forged in the wak...Neoclassical economics, actually forged in the wake of WWII, has been given an elevated status as a hard science based on immutable laws but, given how it profitably comports with the interests of a small but powerful establishment and the corporate sector, it's hardly surprising they would imbue it with such "carved on tablets" orthodoxy. I suspect we're seeing how inflated neoliberalism has become in how long it has soldiered on long after it so miserably failed. Justin Trudeau is not capable of challenging it. He lacks the vision to ride the next wave. We'll catch that on the trough.<br /><br />As for "steady state" economics, Wiki has a decent synopsis. If you want to delve deeper I'd recommend Herman Daly's "Beyond Growth," the reformed Paul Craig Roberts, "The Failure of Laissez Fair Capitalism," or the compendium of essays by Prugh, Costanza, Cumberland and Norgaard in "Natural Capital and Human Economic Survival." The easiest read is the Roberts book.<br />The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-34395906883894616092016-12-17T15:25:14.386-05:002016-12-17T15:25:14.386-05:00The notion of "steady state" policies is...The notion of "steady state" policies is intriguing, Mound. I must admit this is the first time I've heard of the idea. I think Dobbins was referring to the attempt by some to turn economics in to a "hard" --physical science -- something which relied on higher mathematical models.<br /><br />The problem is that higher math can easily become divorced from the real world.Owen Grayhttps://www.blogger.com/profile/06464860078574618579noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-37039156451915184292016-12-17T15:19:39.870-05:002016-12-17T15:19:39.870-05:00Perhaps they refuse to enter the game because they...Perhaps they refuse to enter the game because they know the deck is stacked against them, Lulymay. On the other hand, they have the power to change things -- if they choose to use it.Owen Grayhttps://www.blogger.com/profile/06464860078574618579noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-81260670704502950622016-12-17T15:16:37.482-05:002016-12-17T15:16:37.482-05:00If we don't produce a good portion of what we ...If we don't produce a good portion of what we consume, Hugh, we're going to have a balance of payments problem.Owen Grayhttps://www.blogger.com/profile/06464860078574618579noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-68515401234130746112016-12-17T13:23:54.409-05:002016-12-17T13:23:54.409-05:00Dobbins isn't quite right. Economics is a soci...Dobbins isn't quite right. Economics is a social science which is why so little consensus exists among its practitioners. Economics, political science, psychology, sociology are leading forms of social science and they're all focused on ideologies akin to religions that are relatively fluid and tend to shift periodically. John Ralston Saul writes that economic models, ideologies, tend to have a shelf life of between thirty and fifty years. On that time scale, neoliberalism and its economic flagship, globalism, have long since run their course. The societal ills Dobbins catalogues are the evidence of this failed ideology, the most recent.<br /><br />Where Dobbins really falls down is in attempting to list specific policies to rectify the void left by neoliberalism. This can't be done on an ad hoc basis of the sort formulated by Dobbins. It needs the adoption of principles, precepts that seem to echo the progressive movement in early 20th century America. A lot of these principles are embodied in T. Roosevelt's "Square Deal" speech.<br /><br />Earlier this week, the Christian Science Monitor ran an essay by Sandra Waddock of Boston College describing a project to replace neoliberalism that I find more helpful than Dobbins' prescription. Champions of "steady state" economics contend that new models must reflect a paradigm shift based on our real world conditions - overconsumption, overpopulation, climate change and such. What Waddock seems to advocate is a new approach that blends the basic principles of progressivism with a shift to a steady state economy. I can think of nothing more sensible, even imperative.The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-35117130.post-53071419066691472512016-12-17T13:10:57.819-05:002016-12-17T13:10:57.819-05:00When we go to buy something, ie: clothing, furnitu...When we go to buy something, ie: clothing, furniture, tools, appliances, electronics, etc, chances are the item is not made in Canada.<br /><br />This means negative trade balance, and money (wealth) pouring out of Canada.<br /><br />At some point won't we become destitute?<br /><br />Is this the root of the issue?Hughnoreply@blogger.comtag:blogger.com,1999:blog-35117130.post-80706543784613676622016-12-17T10:56:11.565-05:002016-12-17T10:56:11.565-05:00What a staggering indictment of neo-liberalism, Ow...What a staggering indictment of neo-liberalism, Owen, and there is nothing in the article that anyone with any brain (even if they are a vaunted economist) can argue with. Truth is reality. I'm now in my late 70's but always had a personal motto: You can be poor when you're young but never when you're old".<br /><br />With that in mind, budget was mandatory, so no matter how little I earned - and at times it was very little - adjust as needed but keep to a budget. I'm feeling lucky now that I did live during a relatively stable time in our country and that I was able to put some money away for retirement so that I wouldn't have to be poor in old age.<br /><br />It galls me that for the last number of years my poor old GICs are getting a phenomenal 1.2 to 1.7% but its no risk and my current budget says I'm doing just fine. Lucky me! and I feel sorry for young folks. <br /><br />The bigger question for discussion, though, should be: WHY ARE THESE PEOPLE WHO ARE SUFFERING FROM BAD POLITICAL ECONOMIC POLICIES NOT VOTING????Lulymaynoreply@blogger.com