Reproduced from: http://www.debtdeflation.com/blogs/2016/08/19/incorporating-energy-into-production-functions/ Incorporating energy into production functions By Steve Keen August 19, 2016 Debtwatch In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to agriculture exploiting the free energy of… Read More
https://www.pimco.com/insights/economic-and-market-commentary/global-central-bank-focus/the-shadow-banking-system-and-hyman-minskys-economic-journey The Shadow Banking System and Hyman Minskys Economic Journey | PIMCO “Hyman Minsky’s theory on the nature of financial instability proved unnervingly prescient in explaining the rise and fall of shadow banking.” BY PAUL A MCCULLEY MAY, 2009 This paper is the basis for a speech I’ll be giving in Tel Aviv in June,… Read More
Source: Holt-LunstadJ, Smith TB, Layton JB (2010) Social Relationships and Mortality Risk: A Meta-analytic Review. PLOS Medicine 7(7): e1000316.
https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1000316
The Life-Ground of Value: A concept introduced by McMurtry (1998) which signifies the totality of conditions, natural and/or social, upon which any living thing or collection of living things depends for its existence.
The Life-Ground: the conditions of all life and substantive value.
Most simply expressed, all the conditions required to take your next breath. Axiologically understood, all the life support systems required for human life to reproduce or develop. The life-ground is to be distinguished from the concept of “the life-world” which refers to background beliefs.
The universal basis of all value, the maximal development of the capabilities of living things relative to their degree of organic and social complexity.
The totality of conditions presupposed by the life of individual living things; the basis of there being value and beings that can value.
While religions have featured the animating breath of life, they have attributed it to a transcendental creator so as to overlook its source in the creation itself–a kind of idolatry of man-made ideas.
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