Economics Unmasked : Review

Philip B. Smith & Manfred Max-Neef's Economics Unmasked leans more towards conspiracy than cock-up as it compellingly spells out the disastrous effects of the 'free' market on individuals, communities and the planet.

Future energy availability: ‘net energy’ and the Energy Internal Rate of Return

This week we are publishing two articles from Fleeing Vesuvius which focus on energy supply and use. Chris Vernon's paper explains why, although there is a lot of oil still left in the ground, its supply will contract very rapidly indeed and the world may have run out of oil to burn for energy by 2050. Tom Konrad argues that if a standard assessment tool, the internal rate of return, is used to compare the net energy yield of various projects, it shows which to prioritise for the energy transition.

The flaw in the Monetary Union

Jurgen Habermas has an interesting article which has been reprinted in Social Europe. He assesses the problems of the Eurozone and their basis in the top-down administrative approach taken by European unification. The continued kicking of the economic can down the road is mirrored by the haphazard attitude to political integration.