When the profession of economics began to think that land and capital were equivalent and interchangeable, the roots of real estate speculation and environmental crisis were established. Because the origins of neoclassical economics became deeply influenced by the interests of early 20th century land barons, a new economic paradigm will have to challenge the assumptions of powerful landowners. Will a world in search of economic growth embrace a steady state that properly analyzes the role of land in economic life? Can the rampant real estate speculation across the planet be tamed with an overhaul of our tax system?
In Extraenvironmentalist #71 we discuss implications of the steady-state economy with Brian Czech along with his new book Supply Shock: Economic Growth at the Crossroads and the Steady State Solution. Brian explains how the economics profession was corrupted in the early 20th century by the interests of land barons and how this distorts analysis of ecological issues. Then, Karl Fitzgerald of the Renegade Economists joins us to talk about Henry George, land bubbles and real estate speculation. We ask Karl about rental backed securities and the outrageous housing prices of Australia. At the end of the show, we recap 2013 with a short clip collage and thank our listeners for an incredible year.
Supply Shock: Economic Growth at the Crossroads and the Steady State Solution by Brian Czech
The Corruption of Economics by Mason Gaffney and Fred Harrison
// Extended Clips (in order of appearance)
[First Break] - 25m
Jeffrey Sachs on Economic Growth
Has the US Economy Entered a Permanent Slump?
Krugman's Idea to Spur Economic Growth
Bernanke: Hoping Economic Growth Will Continue
Obama Weekly Address: Working With Both Parties to Keep the Economy Moving Forward
Founder of Adbusters on CNN
[Second Break] - 1h40m
// Music (in Order of Appearance)
Kaligraph E - Milkyears
Bart & Baker Feat Philou - Baby Dont You Cry (Skeewiff Remix)
Ayer - Circle Down (Keljet Remix) via Indieshuffle
Lincoln Jesser - Tops via The Burning Ear
Snowmine - Columbus via Lower Frequencies
// Production Credits
Our correspondent and editor Kevin via Sustainable Guidance Youtube Channel
This show was supported by donations from our generous listeners:
Anders in Sweden
Wayne in Washington
Christian in Germany
Bill in NY
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