The Bubble Economy: Is there a way out?

Ayres on Environment, Exergy, Economy & Growth

The United States may not be the most admired country in the world today, as once it was. Bubble Economy book cover - top halfBut the economic decline of the US is still capable of doing much harm outside its borders as well as internally. Part of the underlying  problem is an extremely unrepresentative  government system of the US.  Congress is currently  dominated by entrenched special interests – “big money” —  that want to preserve the status quo. This reality makes it very difficult for the executive branch  to function day-to-day, still less respond creatively  to new challenges.

There is a weak economic  recovery under way. It is weak because most OECD  governments have been persuaded by conservative economists that government debt is now much too high and that government deficits have to be cut by cutting welfare spending.  As a direct consequence of austerity policies, unemployment is still too high, especially when under-employment and…

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