Human welfare and the four economies
My thoughts about the four economies have emerged from thinking about money and debt. Some writers, especially Graeber do a great job of sketching what money is (debt) and prying the concept away from "value". Graeber makes dire predictions about the fate of the world based solely on the nature of money. Graeber seems to think that, by the very nature of money, debt expands to choke the "real" economy - a phenomenon he calls "debt deflation". I think that Graeber's misunderstands the way that money works and its relationship to the other economies we live in, most obviously value (which is constantly being created and destroyed) and information (which mostly grows at an exponential rate, contributing to a growing percentage of the value of everything we buy). However, Graeber's analysis is helpful in pointing out that many transactions involving money and the creation of debt take place entirely in the "money universe" without inc...