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Archive for the 'Politics' Category

Thursday, March 30th, 2017

The Historical Case for Asia Strategy

By More Than Providence

“Is the United States capable of grand strategy? Two centuries of American engagement with Asia and the Pacific strongly suggest that the answer is yes. American grand strategy has been episodic and inefficient, but in the aggregate it has been effective.” — Michael J. Green

This week, our featured book is By More Than Providence: Grand Strategy and American Power in the Asia Pacific Since 1783, by Michael J. Green. Today, we are happy to present an excerpt from the conclusion.

Wednesday, March 29th, 2017

Introducing By More Than Providence

By More Than Providence

“Over the course of two hundred years, the United States has in fact developed a distinctive strategic approach toward Asia and the Pacific. There have been numerous instances of hypocrisy, inconsistency, and insufficient harnessing of national will and means. There have been strategic miscalculations— particularly before Pearl Harbor, on the Yalu River, and in Vietnam. In the aggregate, however, the United States has emerged as the preeminent power in the Pacific not by providence alone but through the effective (if not always efficient) application of military, diplomatic, economic, and ideational tools of national power to the problems of Asia.” — Michael J. Green

This week, our featured book is By More Than Providence: Grand Strategy and American Power in the Asia Pacific Since 1783, by Michael J. Green. Today, we are happy to present an excerpt from the introduction.

Don’t forget to enter our book giveaway for a chance to win a free copy of By More Than Providence!

Tuesday, March 28th, 2017

Michael Green on Rex Tillerson’s Beijing Visit

By More Than Providence

This week, our featured book is By More Than Providence: Grand Strategy and American Power in the Asia Pacific Since 1783, by Michael J. Green. In a recent appearance on NPR’s Morning Edition, Michael Green tells Steve Inskeep about what the Chinese think of Secretary of State Rex Tillerson, as Tillerson meets with Chinese officials as part of a trip to Asia.

Don’t forget to enter our book giveaway for a chance to win a free copy of By More Than Providence!

Monday, March 27th, 2017

Book Giveaway! By More Than Providence: Grand Strategy and American Power in the Asia Pacific Since 1783

By More Than Providence

“Michael Green’s magisterial study is a timely and insightful reminder of the deep and long-standing ties between East Asia and the United States, and the complex interplay between our economic and security interests, and our values, a dynamic which has shaped US policy for two and a half centuries. It is an indispensable point of reference for students and policy makers seeking to understand a critical region where history casts a long shadow, notwithstanding the extraordinary changes of recent years.” — James Steinberg, Syracuse University and former deputy secretary of state

This week, our featured book is By More Than Providence: Grand Strategy and American Power in the Asia Pacific Since 1783, by Michael J. Green. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Friday, March 3rd, 2017

A Media Roundup for Tainted Witness

Extreme Domesticity and Tainted Witness

“Now that America has elected as its president a man who denigrates women and their bodies, who thinks women who exercise their reproductive rights should be “punished” and who spouts xenophobic and racist views, Gilmore’s insights are more pressing than ever. Tainted Witness is an important and timely book. If ever we needed evidence that the work of feminism is not yet done, this is it.” — Laura Frost

This week, we are featuring two exciting new books from our Gender and Culture Series: Extreme Domesticity: A View from the Margins, by Susan Fraiman, and Tainted Witness: Why We Doubt What Women Say About Their Lives, by Leigh Gilmore. Today, we have collected links and short excerpts from some of the great media attention Tainted Witness has received.

Don’t forget to enter our book giveaway for a chance to win a copy of both books!

In The Washington Post, Jill Filipovic believes that Tainted Witness “is a timely and necessary defense of the women whose voices are so often drowned out or shouted down”:

“Tainted Witness” arrives at the right time, at the front end of a rapidly building anti-feminist backlash. The ease with which so many Americans disregard or disbelieve women’s testimony was on clear display in November, when millions voted for Trump despite the accusations against him and his own claim, caught on video, that he had sexually assaulted women. This book provides a crucial feminist critique of the impossible and ever-shifting standards to which women who offer life testimony are held, along with guidance on how to navigate a path forward….

These are crucial observations and excellent rebuttals to the faux legalism that so often dominates the public discourse around high-profile sexual assault cases. We are entering an era when malevolent sexism and entrenched mistrust in women are not only tacitly approved but actively modeled by the man in the Oval Office, and when many of our most valued institutions and even the very concept of truth are under fire. Not in recent memory have the ideas Gilmore elucidates been so necessary, which is why I wish her work was more accessible to a wider audience. Still, this is a sharp work of feminist scholarship, unflinching in its insistence that women’s testimony about our own lives is a potent and often threatening force undercut by those who accurately assess its power. In a country soon to be led by a very loud man who ran a campaign of aggrieved masculinity, “Tainted Witness” is a timely and necessary defense of the women whose voices are so often drowned out or shouted down.

In the Times Higher Education, Laura Frost gave an excellent close look at Tainted Witness, which was named the THE Book of the Week:

The tautological observation that women are thought to be untrustworthy because they are women invites speculation about its genesis. While a definitive answer lies outside the scope of Tainted Witness, Gilmore is especially astute when she shows how “bodies and story move in a choreography of testimony”. For example: “The instant Anita Hill saw a barrage of flashbulbs erupt the first time she altered position in her seat, she knew that in photographs of her testimony, her body could be made to tell a story that would compromise her.” These and other somatic moments in Tainted Witness show how profoundly female embodiment influences the reception of women’s words. If harassment and assault are a means of denigrating women’s power, might the charge of fabrication – in the sense of deceit – conceal an anxiety about fabrication in the sense of making or creating, and perhaps the most fundamental power of reproduction?

Now that America has elected as its president a man who denigrates women and their bodies, who thinks women who exercise their reproductive rights should be “punished” and who spouts xenophobic and racist views, Gilmore’s insights are more pressing than ever. Tainted Witness is an important and timely book. If ever we needed evidence that the work of feminism is not yet done, this is it.

In the Boston Globe, Katie Tuttle quotes Gilmore on the timeliness of Tainted Witness:

“My hope in the book,” she said, “is if we can become familiar with these patterns for undermining women’s testimony, and undermining women’s credibility, then I think we can begin to anticipate where and how these attacks will take place and maybe we can try to stay a step ahead of them.”

As we face the results of an election that included examples of this dynamic (Hillary Clinton, Gilmore said, “has been a tainted witness for almost her entire career”), we stand at a moment of possible change. “On one hand, this seems like the era of welcome for women’s testimony. We seem to be hearing more stories from more places around the world from women,” she said. “But at the same time, the mechanisms for tainting women’s witness are swifter and more effective than ever.”

Finally, we look back to two articles written by Leigh Gilmore at The Conversation reflecting on two of the most apparent cases of disbelief of a woman’s testimony. First, she asked, in the aftermath of the 2016 presidential election, why ‘“Crooked Hillary” [was] a more compelling figure than “Fundamentally Honest Hillary”?’

I’d argue that the media’s portrayal of Clinton has less to do with her actions than with the persistent tainting of female witnesses based on gender bias. In short, my research shows that women are doubted. Women are seen as threatening stability when they show ambition and seek power. Their success threatens the association of masculine power with order.

From Eve to Clytemnestra to Lady Macbeth, powerful female figures stir up deep-seated and irrational fears of women’s proximity to power. They prompt anxieties about masculinity. These fears can be exploited and directed against particular women, as far-right Steven Bannon’s campaign against Clinton demonstrates.

These narratives and others like them align the act of doubting women with rationality and objectivity, making them feel legitimate. In other words, it is not only traditionalists who feel that women can’t be trusted with power; cultural narratives of blame make it feel right in general to doubt women.

This old story prevents other narratives from emerging. When the media recycled anecdotes that discredited Clinton instead of reframing their coverage to address the emergent themes of her historic run, they ensured that Clinton’s untrustworthiness would remain the story.

And finally, she explained what the Brock Turner sexual assault case, both Turner’s actions and, particularly, his defense team’s approach to the court case, show us about biases that work against women in state courts and in the court of public opinion:

Phrases like “he said/she said” or “no one knows what really happened” are used commonly to describe rape as a matter of interpretation. Such phrases actively harm women’s credibility in general and erode our capacity to engage with the truth of specific cases. They allow savvy defense teams to substitute bias against women for the facts of actual cases and to turn sympathy towards perpetrators.

Because these stereotypes have entered the law and permeate everyday life, doubt has become a legal weapon that can be used against any woman who testifies about rape. And in criminal cases, like rape, reasonable doubt is the standard the evidence must meet.

Yet even when the facts in a case confirm guilt, as they did in the case against Brock Turner, who was caught in the act of sexually assaulting an unconscious woman behind a dumpster, defense teams can rely on bias: that women send “mixed signals” about sex, that women say no and mean yes, that women regret sex and cry rape.

None of these cliches is grounded in evidence. Overwhelmingly, women tell the truth about sexual violence. The majority of rapes will never be prosecuted and, when they are prosecuted, the majority of rapists will not be convicted.

Why, then, are the stereotypes that women “cry rape” so durable? When the crime is rape, why are women doubted?

Wednesday, March 1st, 2017

Post-Fascism

Left-Wing Melancholia

This post is part of an ongoing series in which Columbia University Press authors look at the implications of the result of the 2016 presidential election. Today, Enzo Traverso, author of Left-Wing Melancholia: Marxism, History, and Memory, argues that labelling Donald Trump a fascist is unhelpful, as “interpreting him through old categories [cannot] help us to understand the novelty he embodies”:

Post-Fascism
By Enzo Traverso

Is Donald Trump a fascist? Answering this question, frequently put in both Europe and the US, means speculating about what fascism would look like in the twenty-first century. Historical comparisons allow us to sketch analogies rather than homologies, and Trump is as far from classical fascism as Occupy Wall Street, los Indignados, and La nuit debout are from twentieth-century communism. This is a historical analogy, not a genealogy.

A few months ago, Robert O. Paxton, one of the most important historians of European fascism, ironically (and pertinently) affirmed that Trump probably never read any single book on Mussolini or Hitler. In other words, speaking of Trump’s fascism is not a matter of establishing a historical continuity. He does not come from this political tradition and this distinguishes him from most European far-right movements that come from this matrix, sometimes proudly claiming it—mostly in Central Europe—and sometimes trying to achieve respectability rejecting or distancing it, like the Front National of Marine Le Pen in France.

During his electoral campaign, Trump revealed many fascist traits: a charismatic conception of politics, authoritarianism, hatred for pluralism, nationalism, racism, xenophobia, misogyny, homophobia, and a populist style that considers citizens only as a crowd to mesmerize and mislead. His campaign reproduced some features of fascist anti-Semitism, which defined a mythical, ethnically homogeneous national community by opposing it to its enemies: for the Nazis this was the Jews, but Trump enlarged the spectrum, including Blacks, Latinos, Muslims, and non-White immigrants. In Trump’s rhetoric, the “Establishment” reproduced the old anti-Semitic cliché of a virtuous community rooted in land and tradition opposed to the anonymous, corrupted, intellectual, and cosmopolitan metropolis. (more…)

Tuesday, February 28th, 2017

Tainted Witness in Testimonial Networks

Extreme Domesticity and Tainted Witness

“Women are often seen as unpersuasive witnesses for three related reasons: because they are women, because through testimony they seek to bear witness to inconvenient truths, and because they possess less symbolic and material capital than men as witnesses in courts of law.” — Leigh Gilmore

This week, we are featuring two exciting new books from our Gender and Culture Series: Extreme Domesticity: A View from the Margins, by Susan Fraiman, and Tainted Witness: Why We Doubt What Women Say About Their Lives, by Leigh Gilmore. Today, to start the feature, we are happy to present an excerpt from Gilmore’s introduction to Tainted Witness.

Don’t forget to enter our book giveaway for a chance to win a copy of both books!

Monday, February 27th, 2017

Book Giveaway! Extreme Domesticity and Tainted Witness

Extreme Domesticity and Tainted Witness

“In Extreme Domesticity, Susan Fraiman continues to perform the crucial task of challenging—in lucid, fervent prose—the “habitual, unthinking” conflations and repudiations which keep women, or the feminized, at the bottom of hierarchies of value.” — Maggie Nelson, author of The Argonauts

“Rarely does an academic book address its moment so precisely as Tainted Witness…. An important and timely book. If ever we needed evidence that the work of feminism is not yet done, this is it.” — Times Higher Education

This week, we are featuring two exciting new books from our Gender and Culture Series: Extreme Domesticity: A View from the Margins, by Susan Fraiman, and Tainted Witness: Why We Doubt What Women Say About Their Lives, by Leigh Gilmore. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Thursday, February 16th, 2017

Boom and bust returns as oil market loses its swing

Crude Volatility

“While it is possible the unmanaged interplay of supply and demand will yield more stable prices in coming years and decades, it is more likely future trends will resemble the past, featuring surprising shifts, sustained imbalances, and upheaval.” — Robert McNally

This week, our featured book is Crude Volatility: The History and the Future of Boom-Bust Oil Prices, by Robert McNally. Today, we are happy to repost an article by Robert McNally that “>originally appeared in the Financial Times:

Boom and bust returns as oil market loses its swing: For the first time in years, the global oil market is lacking a swing producer
By Robert McNally

Even in these hyper-partisan times, loathing for Opec still unites most Americans. Yet paradoxically, over four decades from the early 1930s to early 1970s, the United States was Opec, and much better at oil supply manipulation and price fixing than today’s Opec ever was.

Up until 1972, independent US oilmen and oil states like Texas acquiesced to heavyhanded government regulations over oil, imposing monthly quotas on producers. This was all done to vanquish chronic booms and busts that vexed the oil industry, consumers, investors, and officials.

This paradox bears directly on the epic, structural shift currently under way in the global oil market, with far-reaching repercussions not only for oil and energy, but also economic growth, security, and the environment. Wildly gyrating oil prices over the past decade mark the demise of Opec as an effective supply manager and the return of free crude oil markets. The resulting unwelcome and likely protracted return of boom-bust oil prices constitutes a major and under-appreciated financial, economic, and geopolitical risk to consumers, businesses, the incoming administration and governments worldwide. (more…)

Wednesday, February 15th, 2017

Old Numbers, New Data

Crude Volatility

“I decided to write this book to explore more deeply how oil’s history can clarify recent trends and shed light on tomorrow’s path, and to present my findings to the general reader as well as the energy expert.” — Robert McNally

This week, our featured book is Crude Volatility: The History and the Future of Boom-Bust Oil Prices, by Robert McNally. In today’s post, we feature an excerpt from the preface to Crude Volatility, with some illuminating graphs. (Click on the images to see them full-size!)

Tackling this topic presented formidable challenges, not the least of which was getting good historical data and information. For “barrel counters,” the search for better data is a never-ending and arduous quest. Historical data on prices and spare production capacity—central to this book—are especially scarce and patchy. I am therefore delighted and proud that my able research assistant Fernando Ferreira and I were able to unearth historical data and present two novel data sets, neither of which (to my knowledge) existed until now.

The first data set is a continuous, market-based price series for U.S. crude prices extending back to 1859 and continuing to the present on a monthly basis. Constructing this series entailed digging up prices based on field quotations, exchange-traded pipeline certificates (a proxy for crude oil prices), prices paid by Standard Oil’s purchasing agency, and data from the American Petroleum Institute and the Energy Information Administration.

The key issue here is frequency of the data. BP helpfully publishes historical crude oil prices back to 1859 on an annual basis. But annual averages fall short of illustrating boom-bust price trends as more frequent and dramatic price swings—daily, weekly, monthly—get lost in the annual average. Unless otherwise noted, all prices cited in this book, including this new monthly historical price series, are in nominal instead of real or inflation-adjusted terms. Using real prices would not change the story from a volatility perspective, but I decided to use nominal prices to better connect the prevailing historical narrative with price changes…

The second unique data set developed for this book is for U.S. spare production capacity extending back to 1940 and continuous data on U.S. and global spare capacity since 1955 (that is, including the Seven Sisters until the early 1970s and OPEC afterward). This entailed exhuming information from various government and industry reports and publications. Currently, EIA’s published OPEC spare production capacity extends back to 2003.

My goal is to contribute to our understanding of the economic and political forces that shaped oil prices in history so as to better understand them today and tomorrow. Whether I have succeeded I leave to you, dear reader, to judge…

(Click on the images to see them full-size!)

Oil Disruptions, Spare Capacity, and Crude Prices

Nominal Crude Oil Prices

Monthly Crude Oil Price Ranges

Wednesday, February 15th, 2017

Trump’s Strange Loves

Reconstructing Strangelove

This post is part of an ongoing series in which Columbia University Press authors look at the implications of the result of the 2016 presidential election. In this post, Mick Broderick, author of Reconstructing Strangelove: Inside Stanley Kubrick’s “Nightmare Comedy”, discusses how Dr. Strangelove is and has been used in US politics:

Trump’s Strange Loves
By Mick Broderick

There has been much consternation recently concerning President Trump’s access to the American nuclear arsenal, the missile control codes (carried in the briefcase-sized “football”) and his personal authorization card (the “biscuit”). As newly anointed Commander-in-Chief, Donald Trump now wields near-apocalyptic power, literally at his fingertips. Throughout his appointed four-year term he can at any time – to invoke Robert Oppenheimer and the Bhagavad Gita – “become death, the destroyer of worlds.” Only a few minutes from committing to such action nearly a thousand nuclear weapons stationed on high alert could be unleashed and no one is legally empowered to stop him.

In reality, this is business as usual; same as it ever was. Trump’s supreme authority is constitutionally entrenched, with the continuity of executive power stemming back decades. What has changed, however, is the new President’s predilection for impulsively tweeting on foreign policy matters, amongst other things, into the wee hours. Now in office Trump continues to fire-off intemperate remarks at his whim and those missives are instantly accessible across the globe. When Ronald Reagan quipped before a radio broadcast during a microphone test in 1984 that he had just “signed legislation that will outlaw Russia forever … we begin bombing in 5 minutes”, it was quite sometime before the audio was leaked to the public. Imagine the effect of a tweet from President Trump along similar lines, without the (comic) inflection of the spoken word or the corresponding audible guffaws from nearby presidential staff. Although largely symbolic given the Republican control of the Executive and both Congressional houses, moves are now underway by Democrats to curb any Presidential nuclear first strike order, by mandating that Congress must first declare war. Earlier, Trump had ranted at the Republican Congressional leadership to “Go nuclear!” against his Democrat rivals. (more…)

Tuesday, February 14th, 2017

The Texas Paradox

Crude Volatility

“By beginning the story of oil prices with the birth of the industry, we can better appreciate why oil prices are naturally volatile and why that volatility has posed an enormous problem not only for the oil industry but broader economy, causing oilmen and officials to go to great lengths to stabilize oil prices.” — Robert McNally

This week, our featured book is Crude Volatility: The History and the Future of Boom-Bust Oil Prices, by Robert McNally. To start the week’s feature, we are happy to present an excerpt from the book’s introduction, in which McNally examines the uncomfortable relationship tension between our desire to avoid a situation where monopolies dictate oil prices and a situation where oil prices fluctuate wildly.

Monday, February 13th, 2017

Book Giveaway! Crude Volatility: The History and the Future of Boom-Bust Oil Prices

Crude Volatility

“Robert McNally has written an excellent biography of a world-famous character, known for volatility and violent mood swings, sometimes reviled but always a player in the world economy and politics—the oil price. Insightful and timely, Crude Volatility explores the clash over many decades between “boom and bust” prices and the efforts to harness them. In the current market, McNally explains why volatility is likely to win out over stability—highly significant for what will remain the world’s most important commodity for many years to come.” — Daniel Yergin, Pulitzer Prize-winning author of The Prize and The Quest and Vice Chairman of IHS Markit

This week, our featured book is Crude Volatility: The History and the Future of Boom-Bust Oil Prices, by Robert McNally. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Friday, February 10th, 2017

Fact or Fiction: how much do you know about the future of the US economy?

Building the New American Economy

This week, our featured book is Building the New American Economy: Smart, Fair, and Sustainable, by Jeffrey D. Sachs, with a foreword by Bernie Sanders. For the final day of the week’s feature, we are happy to present a quiz, based on Building the New American Economy, that tests your knowledge of the present and future of the American economy.

Thursday, February 9th, 2017

Press roundup – Jeffrey Sachs

Building the New American Economy

“The key to resolving America’s ills depends on greater fairness, decency, and honesty lie within our own borders, notably on how we share the benefits of advanced technologies such as robotics and artificial intelligence, and the booming profits they are producing. The real counterpart of falling American working-class incomes is not the rise of Mexican incomes but the soaring profits and incomes now going to the 1 percent. The key solutions for American workers are right at home, not in overseas military adventures, new arms races or self-defeating trade wars.” — Jeffrey Sachs

This week, our featured book is Building the New American Economy: Smart, Fair, and Sustainable, by Jeffrey D. Sachs, with a foreword by Bernie Sanders. For today’s post, we feature a roundup of some of Sachs’ recent writing for major national newspapers.

This past month, Professor Sachs has contributed multiple op-eds to The Boston Globe just a few of which we will describe here. On February 5th, he wrote on “Donald Trump’s dangerous China illusions,” exploring China’s recent history as an emerging global superpower and warning that the United States can no longer assume that it maintains primacy in world affairs as President Trump has argued. On January 29th, Prof. Sachs argued in “The balance sheet on ‘America First’” that only one of President Trump’s economic assertions has a grain of sense in it: that there should be a cutback in federal military spending. Otherwise, Sachs asserts, Trump’s directions in trade and investment policies are misguided. Third, in January 22nd’s “The shifting global landscape,” Prof. Sachs looks back at the publication in 1776 of Adam Smith’s foundational economic text The Wealth of Nations and finds parallels to today’s global climate that indicate a changing of the guard in how we think about and experience economic issues.

Sachs has also written frequently for Project Syndicate, where this month he published pieces on “Why Millenials Will Reject Trump” – the keys are their diversity, the particular nature of the economic challenges they face, and their awareness of the effects of climate change – and on “Learning to Love a Multipolar World,” exploring the roots of the vastly changed position the United States finds itself in in international politics.

Wednesday, February 8th, 2017

Bernie Sanders on creating an economy that works for all

Building the New American Economy

“What I heard and what I continue to hear is that Americans have had enough of establishment politicians and establishment economists who have claimed for far too long that we must choose between economic growth, economic fairness, and environmental sustainability. They have sold us a bill of goods that says we can’t have all three. Well, they are wrong. To my mind, widely shared prosperity, economic fairness, and environmental sustainability must go hand in hand.” — Bernie Sanders

This week, our featured book is Building the New American Economy: Smart, Fair, and Sustainable, by Jeffrey D. Sachs, with a foreword by Bernie Sanders. Today, we are thrilled to present an excerpt from Bernie Sanders’s foreword.

Tuesday, February 7th, 2017

Why We Need to Build a New American Economy

Building the New American Economy

“My core contention is that with the right choices, America’s economic future is bright. Indeed, we are the lucky beneficiaries of a revolution in technologies that can raise prosperity, slash poverty, increase leisure time, extend healthy lives, and protect the environment.” — Jeffrey Sachs

This week, our featured book is Building the New American Economy: Smart, Fair, and Sustainable, by Jeffrey D. Sachs, with a foreword by Bernie Sanders. To start the week’s feature off, we are happy to present an excerpt from the first chapter, in which Sachs explains his purpose in writing the book, and starts to delve into what it would take to build a new American economy for all.

Monday, February 6th, 2017

Book Giveaway! Building the New American Economy, by Jeffrey D. Sachs

Building the New American Economy

“Jeffrey Sachs remains one of the most thought-provoking economists in the world today because he dares to challenge presidents of both parties and the orthodoxies that bind them to disastrous policies. His critiques are fierce and his solutions fearless in the face of political and academic groupthink. That makes Professor Sachs a rarity in public life and this book an absolute necessity.” — Joe Scarborough

This week, our featured book is Building the New American Economy: Smart, Fair, and Sustainable, by Jeffrey D. Sachs, with a foreword by Bernie Sanders. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page.

Wednesday, January 11th, 2017

Conserving the Environment is Crucial but Simple

Endangered Economies

“External costs pose the biggest threat to the environment by preventing nature and the economy from working together. External costs occur when a third party must pick up the tab for the negative consequences of a transaction. A transaction that occurs every day is a good example: let’s say I buy gasoline, burn it in my car, and harm people who inhale the exhaust fumes or whose climate is altered by greenhouse gases generated. The people who are injured did not purchase and burn the gas—I did. Yet I do not pay for the harm done.” — Geoffrey Heal

This week, our featured book is Endangered Economies: How the Neglect of Nature Threatens Our Prosperity, by Geoffrey Heal. Today, we are happy to present a guest post from Heal, in which he argues that environmental conservation is crucial to our prosperity, and indeed to the future of our civilization, and is easier than most people think. He also provides four relatively simple reforms that will transform how our economies interact with the environment and make a pristine environment compatible with growth and prosperity.

Don’t forget to enter our book giveaway for a chance to win a free copy of Endangered Economies!

Conserving the Environment is Crucial but Simple
By Geoffrey Heal

Our dependence on nature runs deep. There is no denying that a pristine environment improves our health, lengthens our lives and makes us more productive. Yet in our lifetimes, catastrophic environmental change will occur because of four basic, correctable errors in the design of our economic systems. We can fix the most egregious flaws in the system to correct our neglect of nature and allow the economy and the environment to coexist and nurture one other.

External costs pose the biggest threat to the environment by preventing nature and the economy from working together. External costs occur when a third party must pick up the tab for the negative consequences of a transaction. A transaction that occurs every day is a good example: let’s say I buy gasoline, burn it in my car, and harm people who inhale the exhaust fumes or whose climate is altered by greenhouse gases generated. The people who are injured did not purchase and burn the gas—I did. Yet I do not pay for the harm done. There are many ways of solving problems like this – problems that involve a social cost. We can levy a charge to reflect the costs to third parties, we can give damaged parties the right to sue, we can regulate activities that affect third parties, and more. What we can’t afford is to continue to ignore this harmful error in our economic policies. (more…)

Tuesday, January 10th, 2017

Environment and Economy—No Conflict

Endangered Economies

“External costs pose the biggest threat to the environment by preventing nature and the economy from working together. External costs occur when a third party must pick up the tab for the negative consequences of a transaction. A transaction that occurs every day is a good example: let’s say I buy gasoline, burn it in my car, and harm people who inhale the exhaust fumes or whose climate is altered by greenhouse gases generated. The people who are injured did not purchase and burn the gas—I did. Yet I do not pay for the harm done.” — Geoffrey Heal

This week, our featured book is Endangered Economies: How the Neglect of Nature Threatens Our Prosperity, by Geoffrey Heal. To start off the week’s feature, we are happy to present an excerpt from the book’s first chapter, in which Heal explains why there’s no real conflict in trying to save the environment and improve the economy.

Don’t forget to enter our book giveaway for a chance to win a free copy of Endangered Economies!