Alan Fortuny Sicart

Energy communities goes back to the 1970s with the oil price shocks to ensure affordability of energy in communities. Currently in Europe there is the mandate of clear regulation in favor of energy communities that are the more relevant given the current and expected future energy inflation. To follow along the progress of the energy community framework , where we can see all the projects taking place in europe. Notable the existance of 4000 projects in Germany, comparing to 200 in Spain. Currently, half of european households could be involved in projects related to energy communities or being more independing in their energy use.   Energy communities are called as such if at least 51% is owner locally (how far local remains something to make concrete and varies across countries). Energy communities are organizations where citiziens own and participate in energy provisioning or efficiency related projects. The areas of activities are hydroelectric dams, solar panels, wind tur...

Preliminary monetary conditions In the following post, we review the necessary tax reform that, complementing the monetary reform explained in  https://alanfortunysicart.blogspot.com/2022/05/steady-state-macroeconomics-monetary.html  should cover the main changes to achieve a steady state economy.  Before we jumped in, let's remember the key changes in monetary policy we are asking for: Stablish 100% reserve banking and limit money creation to central banks Limit the supply of money as fixed as possible, and only increase to finance the transition of a steady state if tax reform take too long Audit debt, by recognizing some % of repudiation and distribute fairly the burden of the costs of repudiation Clarification on interest rates and growth mandate We did not answer the apparent contradiction between low interest rates and high inflation as a driver for growth, when sacred economics claimed that negative interest rates are required for a non growing economy.  Befor...

  A lot has been writen, since the book Limits to Growth in the 70' about the desirability to stop growth, as its costs exceed its benefits. There are wellbeing, natural and philosophical reasons to reach a steady state, to find what is enough, to celebrate and live with self impossed limits. The literature on the economic stability of such an economy is still rare, 50 years later, and Steffen Lange book, is the best contribution we have at this time. My last posts owe him almost everything I have to say about the topic. It was, the best selftaught course on keynessian and marxists economics I took, as it seems that in mainstream economics, there is over-representation of the neoclassical view of the economy, not leveraging what keynessian, marxists and ecological economics can offer. My prediction is that ecological economics will simply called economics, and the macroeconomics of the steady state will be called simply macroeconomics. In this post I will summarize what I have lear...

Key features of the theory the amount of factors depend on the interplay between the aggregate demand and aggregate supply the long run is only the outcome of business cycles in keynessian theories the level of investments explains the amount of savings investments here are funded by loans via money creation. The monetary sector play a crucial role in economic growth. ratios of substitution between factors is fixed and limited in the short run by technology State of research Increases is labor productivity enforces economic growth to avoid unemployment, which is a societal goal The secular stagnation is explained as the combination of the lower return on capital and the lower consumption rate when high incomes are achieved Zero growth can be achieve via low investments, equal to the depreciation rate Most of the research confirm that zero growth is compatible with positive interest rates and suffciently high taxes Authors agree that capital accumulation must be stopped Some authors cal...