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Monetary And Fiscal Policies For A Finite Planet, Joshua Farley, Matthew Burke, Gary Flomenhoft, Brian Kelly, D. Forrest Murray, Stephen Posner, Matthew Putnam, Adam Scanlan, Aaron Witham

Peer-Reviewed Studies

Current macroeconomic policy promotes continuous economic growth. Unemployment, poverty and debt are associated with insufficient growth. Economic activity depends upon the transformation of natural materials, ultimately returning to the environment as waste. Current levels of economic throughput exceed the planet's carrying capacity. As a result of poorly constructed economic institutions, society faces the unacceptable choice between ecological catastrophe and human misery. A transition to a steady-state economy is required, characterized by a rate of throughput compatible with planetary boundaries. This paper contributes to the development of a steady-state economy by addressing US monetary and fiscal policies. A steady-state monetary policy …