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Facilitating the transition to a steady-state economy: Some macroeconomic fundamentals

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  • Lawn, Philip

Abstract

Central government policy is based on a misguided understanding of the macroeconomics of a modern, fiat-currency economy. As the owner/issuer of a nation's currency, a central government has unlimited spending power. Moreover, taxation exists as nothing more than a means by which a central government can destroy the spending power of the private sector. In the process of outlining some of the policies required to facilitate the transition to a steady-state economy, this paper does not recommend that central governments should spend wildly and irresponsibly. To the contrary, this paper explains how a central government can use its unique spending and taxation powers in a disciplined and policy-effective manner, yet in a manner that is being largely overlooked.

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  • Lawn, Philip, 2010. "Facilitating the transition to a steady-state economy: Some macroeconomic fundamentals," Ecological Economics, Elsevier, vol. 69(5), pages 931-936, March.
    • Handle: RePEc:eee:ecolec:v:69:y:2010:i:5:p:931-936
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    Cited by:

    1. Rezai, Armon & Stagl, Sigrid, 2016. "Ecological Macreconomics: Introduction and Review," Ecological Economic Papers 9, WU Vienna University of Economics and Business.
    2. Olk, Christopher & Schneider, Colleen & Hickel, Jason, 2023. "How to pay for saving the world: Modern Monetary Theory for a degrowth transition," Ecological Economics, Elsevier, vol. 214(C).
    3. Urhammer, Emil & Røpke, Inge, 2013. "Macroeconomic narratives in a world of crises: An analysis of stories about solving the system crisis," Ecological Economics, Elsevier, vol. 96(C), pages 62-70.
    4. Svartzman, Romain & Dron, Dominique & Espagne, Etienne, 2019. "From ecological macroeconomics to a theory of endogenous money for a finite planet," Ecological Economics, Elsevier, vol. 162(C), pages 108-120.
    5. Olk, Christopher & Schneider, Colleen & Hickel, Jason, 2023. "How to pay for saving the world: Modern Monetary Theory for a degrowth transition," LSE Research Online Documents on Economics 120343, London School of Economics and Political Science, LSE Library.
    6. Dittmer, Kristofer, 2015. "100 percent reserve banking: A critical review of green perspectives," Ecological Economics, Elsevier, vol. 109(C), pages 9-16.
    7. Joe Ament, 2019. "Toward an Ecological Monetary Theory," Sustainability, MDPI, vol. 11(3), pages 1-20, February.
    8. Ament, Joe, 2020. "An ecological monetary theory," Ecological Economics, Elsevier, vol. 171(C).
    9. Pirgmaier, Elke, 2017. "The Neoclassical Trojan Horse of Steady-State Economics," Ecological Economics, Elsevier, vol. 133(C), pages 52-61.
    10. Fabio Boschetti & Elizabeth A. Fulton & Nicola J. Grigg, 2014. "Citizens’ Views of Australia’s Future to 2050," Sustainability, MDPI, vol. 7(1), pages 1-26, December.
    11. Hardt, Lukas & O'Neill, Daniel W., 2017. "Ecological Macroeconomic Models: Assessing Current Developments," Ecological Economics, Elsevier, vol. 134(C), pages 198-211.

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