The global economy sinks under its debts as the real cost of energy rises ALTHOUGH the economy is improving, this is turning out to be “a recovery, but not as we know it”. Britain may be getting better off, but people keep getting poorer, as the costs of essentials continue to grow much more rapidly than incomes. Yet far from being a uniquely British problem, this is a worldwide phenomenon. When you consider the “richer economy, poorer people” conundrum, it might occur to you that there are in fact two parallel economies, not one. This is precisely the point made in my new book Life After Growth. On the one hand, we have the “real” economy of energy, resources, labour, goods and services. On the other, there is the “financial” economy of money and debt. Money, of course, has no intrinsic worth, so any value that money possesses derives […]