On the Guardian, the tousle-haired Suzanne Moore is rightly having a moan about the incompetence of economists. My comment:
Agreed, the mainstream herd of economists are a shower. It is possible that the whole house of cards may come tumbling down, whereupon we will will have to rebuild it from the bottom up, starting with the fundamentals of real ecological economics - obtaining our water, food, housing, energy and waste disposal first through barter, then through local currencies, and all the time hoping that civil disorder and/or global warfare does not break out.
Since this is not a pleasant prospect, we must look for valid economic solutions to the current mess. It is generally agreed by anyone outside of Osborne's circle of absurd influence that austerity is as much a solution to the present crisis as leeching is a solution to a case of anaemia.
The alternative to austerity could be labelled Green Keynesianism, an economic stimulus centered about creating demand for energy stability. The solution has many components, chiefly work creation in the fields of energy conservation and renewable energy (a field that Osborne is currently trying to hack to death), but also in housing, visual amenity work and many other sectors. It has been shown that changes to the benefit system to facilitate getting into good work could lead towards full employment.
We have to continue to think and discuss ways to transform our economy into a rational system that takes account of the fact that we are not self-existent beings but an integral part of a delicate web of live on a beautiful but much-abused planet. We may or may not be successful in influencing a ruling elite who are in the grip of a malign orthodoxy, but activism is like a parachute on a hang glider - it may not save your life, but it does give you something to think about on the way down.