Penny Scott quotes a good reminder from Bologna’s Stephani Zamagni at BALLEBC today…
Economics and Ecology were seen as alternatives, as opposite poles, despite the fact that the common root of the two words links respectively government (the economy) and knowledge (ecology) of what happens in a oikos, ie in a house, in a territory.
…and Mises.org links recently to articles about inflation/deflation, the reliance on fiat (paper) money, and the effects of leaving the gold standard.
Ecology is house structure. Economy is house rules. All this taken together, the point is that when governments broke the connection between gold and money, they dared to make their own rules, fiat, and paper more important than gold, earth and structural limits.
The main difference between gold-backed money and fiat (rule-backed) money is that central banks can inflate it without reference to anything physical, not gold, not goods production. And they have. Money has been separated from Earth, Life. Trouble is… Life is bigger than any government bank or rule ever could be. In the end, Earthly limits will always win out over rules made up by governments and corporations. Huh.