[MCN] Economics: No tree grows to the sky

Lance Olsen lance at wildrockies.org
Sun Jun 14 23:21:18 EDT 2015

Prosperity without growth?
The transition to a sustainable economy

Professor Tim Jackson
Economics Commissioner Sustainable Development Commission (UK)

p.5 - Summary: Excerpt: "For the most part, we 
avoid the stark reality of these numbers. The 
default assumption is that - financial crises 
aside - growth will continue indefinitely. Not 
just for the poorest countries, where a better 
quality of life is undeniably needed, but even 
for the richest nations where the cornucopia of 
material wealth adds little to happiness and is 
beginning to threaten the foundations of our 

1 - Introduction        15
2 -The Age of Irresponsiblity   19
3 -Redefining Prosperity        29
4 -The Dilemma of Growth        37
5 -The Myth of Decoupling       47
6 -Confronting Structure        59
7 -Keynesianism and the 'Green New Deal' 67
8 -Macro-economics for Sustainability   75
9 -Flourishing - within limits  85
10 -Governance for Prosperity   93
11 -Steps towards a Sustainable Economy 101

"Real estate speculation must be as old as the 
land - in the United States, it is certainly as 
old as the frontier - and the first bad bank loan 
was no doubt made around the time of the opening 
of the first bank."

"Still, the boom of the 1980s was unique. Not 
only did creditors lend more freely than they had 
in the past, but the government intervened more 
actively than it had ever done before to absorb 
the inevitable losses."

James Grant. Money of the Mind : Borrowing and 
Lending in America from the Civil War to Michael 
Milken. Farrar Straus Giroux. 1992.  
Introduction, p.5.

"In the early 1990s a number of long-running 
trends were apparently cresting  Š.  Tommy 
Mullaney, eleven, of Crownsville, Maryland, 
returned home from camp in the summer of 1990 to 
find his name inscribed on a MasterCard complete 
with a $5,000 credit line.  ' I jumped up and 
down and said Wow - the hologram was cool,' 
Tommy told the Washington Post. 'But it sure made 
me wonder who was running that bank'."

James Grant. Money of the Mind: Borrowing and 
Lending in America from the Civil War to Micheal 
Milken. Farrar Straus Giroux. 1992. Afterword: 
End of the Line. Pp. 436-437
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