David Suzuki: The economists say if you clear-cut the forest, take the money and put it in the bank, you could make 6 or 7 percent. If you clear-cut the forest and put it into Malaysia, Papua New Guinea, you can make 30 or 40 percent. So who cares whether you keep the forest, cut it down, put the money somewhere else. When those forests are gone, put it in fish. When the fish are gone put it in computers. Money doesn't stand for anything and money now grows faster than the real world. Conventional economics is a form of brain damage. [...]cf. Jeremy Grantham: 'We're trying to buy time for the world to wake up' (Why is this problem so hard for us to deal with? You've railed against short-termism.)
Vaclav Smil: People have been conditioned that things have to always get, go better, and immediately, if you say, limit something, people think this is not getting better, but it would be. This is a non-starter. People saying you should eat less, you should eat less meat, right. That's even -- that's a non-starter, right [...] There's so many things which we could do, you know, not to surrender our standard of living, not to kind of live in a gutter, right, but we don't need one and a half tank car to go from red light to red light in a city. People are not willing to go back on these things, most of them simply are not, because they've been totally hijacked by this material culture. Let's not underestimate the, you know, the, the, the persuasion, the power of this material culture is immense, it's just immense.
The Internet of Everything is about building up a new infrastructure that combines ubiquitous sensors and wireless connectivity in order to greatly expand the data collected about physical and economic activities; expanding 'big data' processing capabilities to make sense of all that new data; providing better ways for people to access that data in real-time; and creating new frameworks for real-time collaboration both within and across organizations... we estimate that the Internet of Everything could raise the level of U.S. gross domestic product by 2%-5% by 2025. This gain from the IoE, if realized, would boost the annual U.S. GDP growth rate by 0.2-0.4 percentage points over this period, bringing growth closer to 3% per year. This would go a long way toward regaining the output—and jobs—lost in the Great Recession.What's more, an IoE could help supplement GDP and redefine national accounting:
While there is a fractious debate going on around the world about our debt-ridden culture and the need to live within our means, there is little serious attention directed to the ultimate debt we have incurred over the course of the First and Second Industrial Revolutions as a result of our profligate consumption patterns—our debt to the earth's biosphere. Climate change is the entropy bill—the planetary debt—for two centuries of burning fossil fuels to propel the First and Second Industrial Revolutions. What we thought was a growing store of accumulated societal wealth was really only the momentary enjoyment of goods and services made possible by the burning of vast amounts of fossil fuels and the release of carbon dioxide into the earth's atmosphere. Learning to live within the earth's budgetary restraints by not consuming nature's endowment faster than the biosphere can recycle the waste and replenish the stock is the ultimate test of our species' ability to live within the planet's carrying capacity. This is what sustainable economic development is really all about.The easy lever the Federal Reserve could always pull to lower interest rates, boost credit/housing and raise aggregate demand no longer works, which raises the question, what does? If it's not going to be a repeating cycle of endless money printing and asset bubbles (and stagnant growth at the end of the day), what will the growth driver's of the 21st century be and what role do financial markets, government and other institutions have in finding them? For example, think about how DARPA, universities, corporations, state law and standards bodies are collaborating to bring autonomous vehicles closer to reality.
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