Oil. The 20th century was shaped by it. The 21st century is moving beyond it. But who gave birth to the oil industry? What have they done with the immense wealth and power it granted them? And what are they planning to do with that power in a post-carbon world? The Corbett Report finds out.
Daniel O’Neill writes: If everyone on Earth were to lead a good life within our planet’s sustainability limits, the level of resources used to meet basic needs would have to be reduced by a factor of two to six times. These are the sobering findings of our research, recently published in the journal Nature Sustainability.
Richard Heinberg writes: Many problems are converging at once because society is a complex system, and the challenges we have been discussing are aspects of a systemic crisis. A useful way to frame an integrated understanding of the 21st century survival challenge is this: we humans have overshot Earth’s long-term carrying capacity for our species.
India’s income inequality in 2017 may be worse than what it was during the British Raj. According to a new paper titled ‘Indian income inequality, 1922-2014: From British Raj to Billionaire Raj?’ penned by renowned economists Thomas Piketty and Lucas Chancel, India witnessed a sharp rise in the incomes of top 1 per cent post 1980s.
Gail Tverberg writes: World leaders manipulate the world economy like a giant video game. The object is to keep it growing, but what do they do when the economy hits limits? They could take their foot off the throttle operated by low interest-rates and more debt. Or they could “take the wings off” the economy.
From Down to Earth: GDP does not reveal the ground truth about progress in development. The top 10% of Indians control the wealth basket while the common people—more than one billion—slide down along ‘Hunger Index’. While the government flaunts a surging economy, prevalence of hunger in India is at the “high end of serious category”.
The world’s top 1 percent held 45.5 percent of all household wealth in 2000. Now, they hold 50.1 percent, according to research by Credit Suisse. The Mukesh Ambani family, the only Indian family in Asia’s top 10 families, is also the richest in the continent, as its net worth rose $19 billion to $44.8 billion.
From The Wire: The recent hurricanes have made some raise an obvious question: to what extent does global warming have a role to play? To which I would add one voiced less frequently: why should those least responsible for global warming have to constantly face its effects? And what does it bode for the future?
Huffington Post reports: India ranks 132nd out of 152 countries on a new index that measures the commitment by a country towards reducing inequality. The index is composed of 21 data points with varying weights; including health and education, share of tax revenue in the GDP, share of tax exemptions, minimum wage and maternity benefits.
From Chronicle.com: In his new book, The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century, Stanford University professor Walter Scheidel puts forth the following thesis: that historically, it took four kinds of violent ruptures –mass-mobilization warfare, transformative revolution, state failure, and lethal pandemics– to reduce widespread inequality.
Carbon Brief reports: A startling 22% of global CO2 emissions stem from the production of goods that are consumed in a different country. However, traditional inventories do not include emissions associated with imports. While Western countries have reduced domestic emissions recently, some of this reduction has been offset by increasing imports from countries like China.
From AlterNet: Last year it was eight men, then down to six, and now almost five. The world’s richest five men now own over $400 billion in wealth. On average, each man owns nearly as much as 750 million people. The super-rich are absconding with our wealth, and the plague of inequality continues to grow.
Best-selling author and historian Yuval Noah Harari writes: As we enter the post-industrial world, the masses are becoming redundant. Biotechnology and the rise of Artificial Intelligence may split humankind into a small class of ‘superhumans’ and a huge underclass of ‘useless’ people. Once the masses lose their economic and political power, inequality could spiral alarmingly.
Karl Marx was possibly the founder of the most appealing secular religion in modern times. On his birth anniversary I hear a call from within; I feel like paying homage to the prophet of modern times. Though I’m not a Marxist, the oceanic currents in his thinking continue to fascinate students and wanderers like me.
IndiaSpend reports: Nearly 46 million people live under conditions of slavery across the world, with 18 million (39%) of those in India, home to the world’s largest number of slaves, according to the 2016 Global Slavery Index. They have lost their freedom by way of bonded and domestic labour and sexual slavery, among other means.
Now, we may disagree about the extent to which success deserves to be rewarded–but virtually all agree that wealth is created primarily at the top. In reality, it is precisely the other way around. This is one of the biggest taboos of our times– the truth that we are living in an inverse welfare state.
The pioneering American economist who helped found the discipline of Ecological Economics, and presently a leading theorist of ‘steady-state economics’, muses on Pope Francis’ ground-breaking encyclical on environment and justice. “At a minimum, he’s given us a more truthful, informed, and courageous analysis of the environmental and moral crisis than have our secular political leaders.”
From The New York Times: …It is impossible to imagine a world without global connections: They have always existed, and no place has escaped their formative influence. But this does not mean that there is any inherent merit in interconnectedness, which has always been accompanied by violence, deepening inequalities and the large-scale destruction of communities.
A new study released by Oxfam ahead of the World Economic Forum meeting shows that just 57 billionaires in India now have same wealth ($ 216 billion) as that of the bottom 70 per cent population of the country. Globally, just 8 billionaires have the same amount of wealth as the poorest 50 per cent.
We face awesome global environmental challenges. Climate change, food production, overpopulation, the decimation of other species, epidemic disease, acidification of the oceans. Together, they are a reminder that we are at the most dangerous moment in the development of humanity… Now, more than at any time in our history, our species needs to work together.