Valuation, Calculation, Transformation

7 Pages Posted: 5 May 2016

Date Written: May 3, 2016


The great economic growth paradox is unveiled, from a sustainable point of view. Whenever r (rent) exceeds g (growth), the socio-economic system reaches the stage (p>g) of cyclical crisis; this Sisyphean economic result is caused today by the static interplay of 3 monopolies (1=land value; 2=money/credit creation; 3=taxation). The loss of systems dynamic efficiency, in terms of productivity, is characterized by the flow of liquidity into assets; as fiat money has no natural ratio, this economic practice of wealth concentration leads to a decrease of systems energy efficiency and eco-logical destabilization.

Keywords: money, energy, ecology, valuation, calculation, transformation, economic rent

JEL Classification: B41

Suggested Citation

Ternyik, Stephen I., Valuation, Calculation, Transformation (May 3, 2016). Available at SSRN: or

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