Bernard Lietaer interview. The New Paradigm of Money - Q&A 1v2. Interview Part 2/2: James Dines & Eric King Discuss Contrari. TEDxBerlin - Bernard Lietaer - 11/30/09. FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitu. Reality Report: Brian Czech Talks w/ Jason Bradford. Herman Daly: The Disconnection Between Financial.
Posted by nate hagens on December 25, 2008 - 2:07pm Topic: Economics/Finance Tags: credit crisis, currency, ecological economics, fiat money, finance, fractional reserve, herman daly [list all tags] This is a repost of Herman Daly's comments on the credit crisis from October 13 of this year. The original post and comments can be viewed here. Given Professor Daly's association with John Holdren, one can hope these heterodox first principles are being discussed at the highest levels.
Previously, Herman Daly wrote a guest post on the Steady State Economy, outlining core suggestions on how to overhaul our banking, financial (and value) systems. The current financial debacle is really not a “liquidity” crisis as it is often euphemistically called. Can the economy grow fast enough in real terms to redeem the massive increase in debt? What allowed symbolic financial assets to become so disconnected from underlying real assets?