In this book, Kerryn Higgs traces the rise of economic growth to the status of the number one goal of nations, and how this pernicious idea prevailed over carefully reasoned counter-arguments through well-funded, carefully orchestrated propaganda. Its a kick in the head for those of us who believe in the persuasive power of reasoned argument.
From The Independent: Capitalism as we know it is over. So suggests a new report commissioned by a group of scientists appointed by the UN secretary general. The main reason? We’re transitioning rapidly to a radically different global economy, due to our increasingly unsustainable exploitation of the planet’s environmental resources and the shift to less efficient energy sources.
Ten years after the global financial crisis, a debt-fuelled world economy is headed towards another crash, the IMF has warned. With the Rupee at a record low, unemployment at a 20-year high, and 78 of its largest corporations defaulting on massive debts, India’s rapidly emerging as the epicentre of a crisis that could dwarf 2008.
Douglas Rushkoff writes: (The billionaires I recently met) were preparing for a digital future that transcends the human condition altogether while insulating themselves from a very real and present danger of climate change, rising sea levels, mass migrations, global pandemics and resource depletion. For them, the future of technology is really about just one thing: escape.
Here are three leading observers on the world’s increasingly shaky energy situation. Minqui Li presents a through-going analysis of the global energy scenario from 2018-2050 based on the latest data, Kurt Cobb suggests that ‘peak oil’ maybe a process, rather than a event, while Chris Martenson issues a stark warning on the coming oil crash.
During my first encounter with resource depletion issues I thought re-localisation would be a strategy to defy the odds. One relocates to a resource abundant small geography and maintains it through a community driven process. But then, I never pursued it. However, the recent news of India’s looming water crisis has got me thinking again.
A coalition of investigative journalists, privacy activists and alternative economy enthusiasts including Nafeez Ahmed, John Pilger and Barkha Dutt, have announced Presscoin/Insurge, a fascinating new hybrid platform that seeks to meld cutting-edge journalism with activism and alternative currencies. “Dedicated to people and the planet, it represents a fundamental break with the old paradigm,” Nafeez says.
Financial crises are happening more frequently, and the next panic is almost certainly brewing – mostly thanks to skewed government and central bank policies -according to research by Deutsche Bank. It comes as a warning to India, where the RBI has just approved a massive ‘recapitalisation’ programme to bailout banks struggling with ballooning corporate debt.
William Robinson highlights some revealing statistics to expose what is really behind the rapid digitalization of global capitalism, the rise of authoritarian leaders and the creeping spread of the global police state. These, he says, are nothing but an insecure transnational capitalist elite’s attempt to insure themselves against rising inequality and a looming economic crisis.
New scientific research is quietly rewriting the fundamentals of economics, showing decisively that the age of endlessly growing industrial capitalism, premised on abundant fossil fuel supplies, is over. The long-decline of capitalism-as-we-know-it, the new science conclusively shows, began some decades ago, and is on track to accelerate well before the end of the 21st century.
From The Conversation: If the global economy grows by 3% till 2100, it will be 60 times larger than now. The existing economy is already environmentally unsustainable, so we simply cannot“decouple” growth from environmental impact. This paper looks at policies that could facilitate a planned transition beyond growth–while considering the huge obstacles along the way.
We should expect financial collapse quite soon – perhaps as soon as the next few months. Our problem is energy related, but not in the way most experts have claimed. It’s much more related to the election of President Trump and to the Brexit vote. Most people don’t understand how interconnected the world economy is.
It is not often that an article about climate change becomes the most hotly debated item on the internet. But David Wallace-Wells’ lengthy essay published in New York Magazine did exactly that. The full text of the essay –admittedly a worst-case scenario- which has kicked up a firestorm of debate online, along with selected responses.
From Forbes Magazine: With all of the knowledge of future mapping, do the world’s financial leaders know something we don’t? Consider how many of the richest families have been grabbing up massive amounts of farmland around the world. All property far away from coastal areas and in locations conducive to self-survival, farming and coal mining.
If I were into species research, I would declare the discovery of Atulya Bingham as that rare new species that the world desperately needs. If I were a birder she’d be that exotic bird whose sight delights one every time. She is rare because she writes about nature in a way no one else does.
From Journeyman Pictures: The financial storm of 2008 began brewing in when the US congress pushed the idea of home ownership for all. When it all went wrong, they opted for gargantuan bailouts for the big banks. This documentary offers fresh insight into the greatest economic crisis of our age: the one still awaiting us.
This review by Alice Friedmann of Nafeez Ahmed’s new book has 3 parts: 1) Why states collapse for reasons other than economic and political 2) How Bio-Physical factors contribute to systemic collapse in Syria, Yemen, Iraq, Saudi Arabia, Egypt, Nigeria 3) Predictions of when collapse will begin in Middle-East, India, China, Europe, Russia, North America
From Countercurrents.org: Human cultural evolution can be regarded as an enormous success in many respects. However, thoughtful observers agree that civilization is entering a period of crisis. As all curves move exponentially upward: population, production, consumption, etc, one can observe signs of increasing environmental stress, while the existence of nuclear weapons threaten civilization with destruction.
The New Yorker reports: Survivalism, the practice of preparing for the collapse of civilization, tends to evoke a certain picture: eg. the religious doomsayer. But in recent years survivalism has expanded to more affluent quarters, taking root in Silicon Valley and New York City, among technology executives, hedge-fund managers, and others in their economic cohort.
Nafeez Ahmed writes: A new research study by HSBC on global oil supply shows that the bulk of the world’s oil production has peaked and is now in decline. Welcome to a new age of permanent economic recession driven by our ongoing dependence on dirty, expensive, difficult oil — unless we choose a fundamentally different path.