Capitalism to Creditism to Green Economy?
Mike Shedlock posted an interesting blog discussing Richard Duncan perception on the end of Capitalism, and the conversion to “creditism”. Mr. Duncan also noted the reversal of the situation is near to impossible, therefore he concludes government should go ahead and borrow and spend money to make the world a better place. Unfortunately, he chooses the recent Green Economy as his choice of government spending pointing out a government solar build out in Nevada would be an ideal project.
Mr. Shedlock argues the issue that government projects never seem to work out as planned. Generally speaking I agree with most of Mr. Shedlock arguments to Mr. Duncan plan. However, I think they both miss the point I have been preaching “Energy is a means to an end.” If the government wants to take the Mr. Duncan suggestions, the most effective way to advance society is to focus on the ends not the means. One can have all the energy in the world, but if you don’t plan on using it in a productive manner that advantage becomes irrelevant. We need to stop with this Green economy concept. We need to think about how we better utilize and use energy in order to produce and manufacture products and services that society can use to better us all. I believe if we do focus on this, naturally, we will produce “greener” energy. However right now we are just fooling ourselves that by making a Green Economy we will be better in the long run. I never have seen a case where if I challenge my means/path it produces a better end.
I am pro-renewables in many ways. The subsidization path, particularly without innovation beyond the engineering sense, will not lead to a better outcome in the long run. I discuss this some more in previous blog.
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Creditism, nice economic theory. I really liked it when I first introduced it in a paper topic of the Global Credit Economy back in 2003 and presented it at the GSA, ASA, and just presented the Formula that outlined the limits of the Credit Expansion Economy “Creditism Formula” at the CSA that same year.
*net4dem.org/mayglobal/Papers/GregoryMorales.doc
Here is a more corrected papers presented after I finished my graduate program.
http://www.allacademic.com/meta/p110123_index.html