An economic system that supports people and planet is still possible. I direct an organisation with an ambitious mission statement: to transform the economy so that it works for people and the planet.
For 30 years the New Economics Foundation has been working with others to shift our economic system away from the current model – growth no matter the cost – to one where the primary goal is maximising human wellbeing, fairly, and without destroying the environment on which we all depend. We’ve had successes. We helped reform the EU Common Fisheries Policy for the better and created over 800 businesses in the most deprived parts of the UK. We coordinated the Jubilee 2000 debt coalition that lead to the cancellation of $100bn (£62.5bn) unpayable poor country debt. And we really thought our moment had come when we persuaded the UK government to start measuring human wellbeing. Scott Santens - Shouldn't All This Talk About Basic Income Actually Be Talk About Basic Resources? A basic income is in a way a minimum claim to resources, with each person using this to claim the resources most important to them.
The fact a basic income is given regardless of work, makes it that much more clear it exists as such a claim on resources based on the shared right to such resources. This last point is important. No one of us created the Earth. We were all born here. Its resources therefore can be seen as belonging to all of us or none of us. Reclaim the Commons: Tragedy of the commons. The tragedy of the commons concept is often cited in connection with sustainable development, meshing economic growth and environmental protection, as well as in the debate over global warming.
It has also been used in analyzing behavior in the fields of economics, evolutionary psychology, anthropology, game theory, politics, taxation, and sociology. However the concept, as originally developed, has also received criticism for not taking into account the many other factors operating to enforce or agree on regulation in this scenario. Lloyd's pamphlet In 1833, the English economist William Forster Lloyd published a pamphlet which included an example of herders sharing a common parcel of land on which they are each entitled to let their cows graze.
In English villages, shepherds had sometimes grazed their sheep in common areas, and sheep ate grass more severely than cows. Reclaim the Commons: Commodification of nature. The commodification of nature is an area of research within critical environmental studies concerned with the ways in which natural entities and processes are made exchangeable through the market, and the implications thereof. As capitalism expands in breadth and depth, more and more things previously external to the system become “internalized,” including entities and processes that are usually considered "natural.
" Nature, as a concept, however, is very difficult to define, with many layers of meaning, including external environments as well as humans themselves. Political ecology and other critical conceptions draw upon strands within Marxist geography that see nature as "socially produced," with no neat boundary separating the "social" from the "natural. Demurrage (currency) Demurrage is the cost associated with owning or holding currency over a given period.
It is sometimes referred to as a carrying cost of money. Negative Interest rate. An interest rate is the rate at which interest is paid by a borrower (debtor) for the use of money that they borrow from a lender (creditor).
Specifically, the interest rate (I/m) is a percent of principal (P) paid a certain amount of times (m) per period (usually quoted per annum). For example, a small company borrows capital from a bank to buy new assets for its business, and in return the lender receives interest at a predetermined interest rate for deferring the use of funds and instead lending it to the borrower. Interest rates are normally expressed as a percentage of the principal for a period of one year. Interest-rate targets are a vital tool of monetary policy and are taken into account when dealing with variables like investment, inflation, and unemployment. The central banks of countries generally tend to reduce interest rates when they wish to increase investment and consumption in the country's economy.
Interest rate notations Address Discounted cash flow. In finance, discounted cash flow (DCF) analysis is a method of valuing a project, company, or asset using the concepts of the time value of money.
All future cash flows are estimated and discounted to give their present values (PVs)—the sum of all future cash flows, both incoming and outgoing, is the net present value (NPV), which is taken as the value or price of the cash flows in question. Present value may also be expressed as a number of years' purchase of the future undiscounted annual cash flows expected to arise.
Discounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management and patent valuation. Discount rate Revalue Future value. Overview Money value fluctuates over time: $100 has a different value than $100 in five years. This is because one can invest $100 today in a bank account or any other investment, and that money will grow/shrink due to interest. Minimize capital accumulation. "Capital-building" redirects here.
For the headquarters of the European External Action Service, see Triangle building. In a more broad sense, capital accumulation may refer to the gathering or amassing of any objects of value as judged by one's perceived reproductive interest group.  Definition Minimize rent-seeking. In public choice theory, rent-seeking is spending wealth on political lobbying to increase one's share of existing wealth without creating wealth.
The effects of rent-seeking are reduced economic efficiency through poor allocation of resources, reduced wealth creation, lost government revenue, national decline, and income inequality. Asset management. Infrastructure asset management Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets with the objective of providing the required level of service in the most cost-effective manner.
It includes the management of the whole life cycle (design, construction, commissioning, operating, maintaining, repairing, modifying, replacing and decommissioning/disposal) of physical and infrastructure assets. Operating and sustainment of assets in a constrained budget environment require some sort of prioritization scheme.
Historical background of asset management Civilization has always relied on its technological assets to support key functions like transport, public health, business, and commerce. Risk management. Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
The strategies to manage threats (uncertainties with negative consequences) typically include transferring the threat to another party, avoiding the threat, reducing the negative effect or probability of the threat, or even accepting some or all of the potential or actual consequences of a particular threat, and the opposites for opportunities (uncertain future states with benefits). Introduction A widely used vocabulary for risk management is defined by ISO Guide 73, "Risk management. Vocabulary. Risk management also faces difficulties in allocating resources. Resource Stewardship. The concept of resources has been applied in diverse realms, including with respect to economics, biology, computer science, management, and human resources, and is linked to the concepts of competition, sustainability, conservation, and stewardship.
In application within human society, commercial or non-commercial factors require resource allocation through resource management. Biological resources Economic versus biological resources Community management. Common pool problem Elinor Ostrom and Oliver E. Regulating / Taxing Speculation. History With the appearance of the stock ticker machine in 1867, which abrogated the need for traders to be physically present on the floor of a stock exchange, stock speculation underwent a dramatic expansion through to the end of the 1920s, the number of shareholders increasing, perhaps, from 4.4 million in 1900 to 26 million in 1932. Speculation and investment The view of what distinguishes investment from speculation and speculation from excessive speculation varies widely among pundits, legislators and academics.
Some sources note that speculation is simply a higher risk form of investment. Others define speculation more narrowly as positions not characterized as hedging. The U.S. According to Ben Graham in Intelligent Investor, the prototypical defensive investor is "...one interested chiefly in safety plus freedom from bother. " Subsidy Elimination. Emissions trading. A coal power plant in Germany. Due to emissions trading, coal may become a less competitive fuel than other options. Emissions trading or cap and trade is a market-based approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. Creating Shared Value. Creating shared value (CSV) is a business concept first introduced in Harvard Business Review article Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility. The concept was further expanded in the January 2011 follow-up piece entitled "Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society". Written by Michael E.
Circular economy. Pigovian tax. A Pigovian tax (also spelled, Pigouvian tax) is a tax applied to a market activity that is generating negative externalities (costs for somebody else). The tax is intended to correct an inefficient market outcome, and does so by being set equal to the negative externalities. Ecotax. Ecotax (short for Ecological taxation) refers to taxes intended to promote ecologically sustainable activities via economic incentives. Such a policy can complement or avert the need for regulatory (command and control) approaches. Often, an ecotax policy proposal may attempt to maintain overall tax revenue by proportionately reducing other taxes (e.g. taxes on human labor and renewable resources); such proposals are known as a green tax shift towards ecological taxation. Ecotaxes are examples of Pigouvian taxes, which are taxes that attempt to make the private parties involved feel the social burden of their actions.
An example might be philosopher Thomas Pogge's proposed Global Resources Dividend.