From The Guardian, the inappropriately-titled We can't grow ourselves out of debt, no matter what the Federal Reserve does by Charles Eisenstein (3 September 2012):
More radically, central banks should be allowed to breach the "zero lower bound" that has rendered monetary policy impotent today. If investors are unwilling to lend even when risk-free return on investment is 0%, why not reduce that to -2%, even -5%? Implemented as a liquidity tax on bank reserves, it would allow credit to circulate in the absence of economic growth, forming the monetary foundation of a steady-state economy where leisure and ecological health grow instead of consumption.
Excellent bits of an otherwise confused article.