Gros sees an important link between sovereignty and taxation but does not quite make the leap to Modern Monetary Theory. He overlooks the need for the ECB to act as lender of last resort in cyclical downturns to member states or to be more accurate, spender of last resort. A true sovereign does not have to raise taxes nor sell bonds in order to spend.
Marshall Auerback writing in the MMT inspired New Economic Perspectives blog revisits the Eurozone problem and comes up with a different solution which has much to recommend it from Irelands point of view.
The presentations from the Smart Taxes/Tasc Conference are now online. The Conference was a big success, well attended, and achieved significant press coverage, thanks to the excellent work of Tasc.
by Bruce Darrell, from Fleeing Vesuvius. This paper describes practices for ensuring that we can continue to feed ourselves adequately in the future, with a focus on the need to ensure that the soil contains an optimal mix of nutrients. Very few soils have a perfect balance of minerals. As a result, their fertility is limited and the crops grown on them cannot provide all the nutrients people need. As people can get food from elsewhere at present, these local deficiencies do not matter too much. But this situation is likely to change.
At the beginning of February, WWF – the World Wide Fund for Nature – issued a major study, The Energy Report, which claimed that a rising global demand for energy services could be met by a combination of greater efficiency and the rapid development of renewable energy sources so that fossil fuel use could be almost entirely phased out by 2050. Australian writer and university lecturer Ted Trainer, who has been analysing the ability of renewable energy sources to meet future needs for at least the past decade, gives his verdict on the study.
Farmland prices have halved in Ireland over the last three years but are still at least twice that of the US. We believe that these land prices are too high at the moment, but may not look that way in the future as other investments classes collapse and the price of food continues to rise.