From Post Hydrocarbon to Post Debt society. Can Capitalism exist without debt?

New Eras are usually identified and then defined well after the event, perhaps the most well know example is the Renaissance or Enlightenment another is the Dark Ages.We are already 30 years into the post hydrocarbon renewable energy era part of the reason that eras are defined afterward is that there are overlaps as things change and the difference between half full and half empty is a matter of interpretation and historical spin.

 My own thinking regarding future areas of interest for business is very much focused on post debt and post hydrocarbon solutions. I am still undecided whether capitalism can exist as a  political Economic choice without debt. Our monetary and Economic technology is far behind our technological capability. Time for a reboot!

Regarding debt technology and monetary backwardness Steve Keen has been calling for a Copernican revolution in economics to recognise the considerable forces mobilised by debt. This shorter video on the alternative to Neo Liberalism is well worth a watch.

Published on 24 May 2015 ´´When the economic history of our epoch is written, three key phenomena will feature: a period of tranquility giving way suddenly to crisis, rising inequality, and rising private debt. Using my model of Minsky’s Financial Instability Hypothesis, I show that these three phenomena are all related. There is a direct link between rising debt, rising inequality, and the crisis itself. The key to reducing inequality and ending economic stagnation is to reduce private debt through “Quantitative Easing for the Public” or a “Modern Debt Jubilee”. This is the keynote speech I gave to the #IEEP conference in Pula, Croatia on May 23rd 2015 Steve Keen


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.