And now a word about our economy
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History of American economy
Back in the day, the original 13 American colonies all had their own currencies. With every monetary transaction, there had to be an agreement as to how much one currency was worth relative to another.
Time moved on
The colonies became the United States. Under the Constitution, Article 1, Section 8, Congress is authorized to create and regulate money. The following citing confirms this: http://caselaw.lp.findlaw.com/data/constitution/article01/
In other words, are we following the Constitution’s authority for our economy? Readers are invited to answer.
Material standard of living and the economy
Today we are expected to buy, buy, buy to keep the economy moving. There is a fundamental flaw with doing so. There are nowhere near enough natural resources left for all of us to endlessly keep consuming.
My family and I have a modest material standard of living by American standards. I went to a website that calculates planetary resources needed to provide the material standard of living that would be needed if all the people alive today had my family’s standard of living. The result was stunning. Six planet Earths would be needed for that. In other words, we cannot continue to “grow” our economy based on consumption. Period.
Time to redefine
We need to redefine what we mean by a good economy. Once again, there is not enough to continue consuming as we are. But I admit it. I’m not against people having nice things. And for myself, I would like the latest and fanciest TV and home entertainment theatre experience. But that won’t be feeding my family.
How to redefine
All of the above begs the question: How should we redefine what a good economy is? Should that include food for everyone? How can we fairly distribute limited resources? Based on the people I have spoken with, not everyone wants everything they can possibly get. So an absolutely even distribution of everything would not be needed or work.
I am looking forward to hearing your ideas in the comments section below.
Also check out this great hub on entrepreneurs vs. innerpreneurs!
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I agree with you... we are consuming this world much faster than she can sustain us. What saddens me the most is that people know that we as a whole are killing the earth and yet most don't care because it doesn't affect them at this particular moment in time.
onceuponatime66: Thanks for the good advice! We will be incorporating more as we move forward! And Best of Luck and 2011 to you too!
Crazywriterchick,
Thank you for your comment. I am also saddened by it. But I have a four-year-old reason to press on. I want my son to grow up on a living and vibrant planet. There is still time.
I agree we all must consume wisely and not be pigs.
I think billions could at least raise their standard of living in the developing world if the west stopped stealing their resources so the industrial nations can have a good living standard, but not the rest of the more singular raw material economies. the very notion of a one product economy pools wealth at the top if their isn't some mechanism for spreading wealth.
sir slave,
I agree with your point. The United States has a few percent of the world's population and last I heard still consuming over a third of the planet's resources. One way or another that will come to a stop. There is enough for all of us to have a good quality of life without consuming everything in sight.
onceuponatime66 17 months ago
You can add for free, hit the amazon button and add books...or go to the learning center and see what fun things to add to your posts. Good luck.