To expand on the above, my understanding is any version of a steady state economy would require a few substantial changes to the way we live and work. At their core, the goal is to change from a consumption-based, growth economy to one that balances the labor, material, and other costs with the products of work.
For example, a steady state economy would seek to fold the returns on increased productivity into maintaining the state of the system rather than either increasing profits or decreasing costs. Since an increase in productivity would result in a company being able to produce more widgets for the same cost, the response in a modern capitalist system would be according to the market's demand for their product. The company could sell more, it could reduce costs if demand was already saturated (i.e. lay off workers), all based on maximizing profit. In the steady state economic model, this increase in productivity would instead be diverted in maintaining employment levels and a sustainable degree of income with the surplus created by the increase either reducing the amount of time a worker needed to work or meeting some other need in society.
Clearly this involves a strong, visible hand. And what that looks like in total? Don't know.
The productivity example illustrates the degree of change this would require in almost every aspect of society. Inevitably, steady state economic predictions acknowledge there has to first be a period of "degrowth" where GDP shrinks in major developed economies while it is possible lesser developed economies catch up, both globally and domestically. Lifestyles would have to change from being primarily a consumer in the system to something else. Net-zero manufacturing cycles that address resource availability are central to the model. Environmental impacts become front and center, as do social impacts. The rosy-cheeked version sees a utopia here, while more pessimistic folks see central control likely bringing new challenges and unforeseen consequences. What motivates innovation in this model? Will increases in leisure time with less material consumption usher in a bright future of people doing what they always wanted to do if they didn't have to work? Or just play video games and use drugs to escape? Is Huxley's Brave New World a steady state economy? Hmmm.
I just placed a hold on this book from my library. I’m in the middle of another Neal Stepheson book (Anathem in case anyone cares), so it’ll be about a week or so before I can get started. Thanks for sharing your selection and motivating me to read something educational.
- Doc
Last edited by Doctor CamNC4Me on Tue Dec 06, 2022 11:25 am, edited 1 time in total.
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
I just placed a hold on this book from my library. I’m in the middle of another Neil Stepheson book (Anathem in case anyone cares), so it’ll be about a week or so before I can get started. Thanks for sharing your selection and motivating me to read something educational.
- Doc
I care, and I'd love to hear your thoughts on it when you finish.
he/him When I go to sea, don’t fear for me. Fear for the storm.
Jessica Best, Fear for the Storm. From The Strange Case of the Starship Iris.
I just placed a hold on this book from my library. I’m in the middle of another Neil Stepheson book (Anathem in case anyone cares), so it’ll be about a week or so before I can get started. Thanks for sharing your selection and motivating me to read something educational.
- Doc
Anathem is one of my favorite's. Have you read Snow Crash, by chance?
I just placed a hold on this book from my library. I’m in the middle of another Neil Stepheson book (Anathem in case anyone cares), so it’ll be about a week or so before I can get started. Thanks for sharing your selection and motivating me to read something educational.
- Doc
Anathem is one of my favorite's. Have you read Snow Crash, by chance?
I have. That was three or four books back, I think. I picked it up after watching his interview with Lex Fridman and it gave me some new insight with regard to his work on the Metaverse. I finished up Reamde about a month ago after I read Fall; or, Dodge in Hell.
- Doc
eta: If you liked Snow Crash, you might like Seveneves. It’s a hard science fiction near-term-into-the-future story about the moon being destroyed by an astronomical phenomenon, and what humans do about it. I also recommend Termination Shock (global warming and what a crazy Texan does about it). Cryptonomicon* was the crap. Avoid D.O.D.O at all costs - I hate-read that one.
eta2: I’m probably going to start read The Baroque Cycle after I get done with Honor’s book.
Hugh Nibley claimed he bumped into Adolf Hitler, Albert Einstein, Winston Churchill, Gertrude Stein, and the Grand Duke Vladimir Romanoff. Dishonesty is baked into Mormonism.
Anathem is one of my favorite's. Have you read Snow Crash, by chance?
I have. That was three or four books back, I think. I picked it up after watching his interview with Lex Fridman and it gave me some new insight with regard to his work on the Metaverse. I finished up Reamde about a month ago after I read Fall; or, Dodge in Hell.
- Doc
eta: If you liked Snow Crash, you might like Seveneves. It’s a hard science fiction near-term-into-the-future story about the moon being destroyed by an astronomical phenomenon, and what humans do about it. I also recommend Termination Shock (global warming and what a crazy Texan does about it). Cryptonomicon* was the crap. Avoid D.O.D.O at all costs - I hate-read that one.
eta2: I’m probably going to start read The Baroque Cycle after I get done with Honor’s book.
I tried reading Cryptonomicon, I couldn't get through it at the time. Maybe I'll give it another go. I'm currently reading the Wheel of Time series, which I also couldn't get through the first time I tried. I think once I finish it I'll stay away from fantasy for a while. Then again, there's the new Mistborn novel...
I'm currently reading the Wheel of Time series, which I also couldn't get through the first time I tried. I think once I finish it I'll stay away from fantasy for a while.
I've heard the Wheel of Time series described as nerd homework. Haven't read any of it myself and haven't made the attempt, either. Someone saying it gets good around book six is...yeah. But I understand those who make it though love it. Best of luck!
insourcing is an issue that left and right have in common to degree -- both sides see a problem with continued reliance on China. What the right doesn't comprehend, Ajax in particular, is that "America first" -- America decoupling with China and sealing up borders, is the ultimate inflationary scenario.
Zeihan, for instance, is all about kicking China to the curb. He liked Trump's attempts to revive NAFTA and at least right in principle to stand up to China, but sees a future in a highly integrated US and Mexico, including bringing in workers from Mexico by the truckload. The scenario MAGA republicans pine for is the scenario of suicidal stagflation.
Just at the halfway point in the book, I'd say the section on transportation was worth the time investment of reading so I'm happy about that. Everything after that is clean profit.
I bring that up because it is probably second only to demographics to his point that the past decades of human history are a high water mark. Going into the book, I was curious if he'd caveat the consequences of demographic/population collapse with automation being the potential out. Nope.
I bring that up because it is probably second only to demographics to his point that the past decades of human history are a high water mark. Going into the book, I was curious if he'd caveat the consequences of demographic/population collapse with automation being the potential out. Nope.
Yeah, I saw him debate some guy on the population implosion collapsing China, his opponent was like "no it won't, cuz automation". I didn't get very far because the arguments either way were thin. Assuming the collapse, I have a hard time believing automation would make a difference.
