JC: I appreciate Mr. Fix’s analysis but I don’t think it’s quite that complicated. There are no externalities. There are only costs economists choose to leave out of their equations. Their reasons? Well, I think we all know their reasons because we know who pays their salaries. Is “environment” irrelevant and infinite? No, obviously not, on both counts. The changing global climate shows that puny humans have the capacity to destroy the world we all depend on. If economists did decide to include in their analyses the cost – present and future – of environmental exhaustion and destruction, how many global corporations would be profitable? Any of them? Perhaps not. Would you buy stock in a company whose business model depends on the destruction of the planet and the pretense that everything is OK? Do you currently own stock in such a company? It’s time to act and if economists can’t get with it we should leave them behind.
Me: “There are only costs economists choose to leave out of their equations.”
This is a great insight. If the economy is financially unstable as Steve Keen has re-discovered because the current paradigm of Debt ONLY enforces the continual build up of additional costs, then the ONLY way to resolve that situation is to PAY those costs with sufficient amounts of monetary gifts directly with a universal dividend to the individual and directly to consumers at retail sale and then reciprocally back to retail merchants so that they can be made whole on their overheads and profit margins.