"To spell out the law of the land in the dead language of your time: on a Letterman Top Ten list of this situation, we are all number one, and you are numbers two through ten. The fleek have inherited the earth." -- A Millennial Revenge Fantasy ( The Hairpin)
Treading Water by Laura Parker [National Geographic]
Phil Stoddard, in his third term as mayor of South Miami, is one of the few politicians willing to talk about when that time might come... He drew a graph with three lines that show population, property values, and sea level all rising. Then abruptly, population growth and property values plummet. “Something is going to upset the applecart,” he says. “A hurricane, a flood, another foot of sea rise, the loss of freshwater. People are going to stop coming here and bail.”[more inside]
Let Us Face the Future - "All parties pay lip service to the idea of jobs for all. All parties are ready to promise to achieve that end by keeping up the national purchasing power and controlling changes in the national expenditure through Government action. Where agreement ceases is in the degree of control of private industry that is necessary to achieve the desired end. In hard fact, the success of a full employment programme will certainly turn upon the firmness and success with which the Government fits into that programme the investment and development policies of private as well as public industry." [more inside]
What was the average American college graduate's college-related debt in 2013? What state has the highest rate of poverty in the United States? Answer these and other depressing questions (or submit your own) at How Wrong You Are.
UN Climate Report: We Must Focus On 'Decarbonization', and It Won't Wreck the Economy - "The basic message is simple: We share a planet. Let's start acting like it." [more inside]
How The Economic Machine Works by Ray Dalio actually makes a case against austerity and for redistribution, but also for money printing (and, arguably, for bailouts), while stressing the need to keep making productivity-improving public and private investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore, viz. Surviving Progress (2011)... [more inside]
From the mid 40s to the mid 50s Coronet Instructional Films were always ready to provide social guidance for teenagers on subjects as diverse as dating, popularity, preparing for being drafted, and shyness, as well as to children on following the law, the value of quietness in school, and appreciating our parents. They also provided education on topics such as the connection between attitudes and health, what kind of people live in America, how to keep a job, supervising women workers, the nature of capitalism, and the plantation System in Southern life. Inside is an annotated collection of all 86 of the complete Coronet films in the Prelinger Archives as well as a few more. Its not like you had work to do or anything right? [more inside]
The Light Bulb Conspiracy is a documentary about disposable printers, light bulbs and everything else, investigating the implications of the business model and industrial design philosophy of Planned Obsolescence that drives and shapes our economy.
"Adbusters invites economics students around the world... to join the fight to revamp Econ 101 curriculums and challenge the endemic myopia of their tenured neoclassical profs." The gist of the Kick It Over Manifesto is largely environmental.
SEED Magazine: Wealth of Nations: "Shared natural resources underpin the global economy, but our current economic system does not acknowledge their worth. Can a major new effort to assess the costs of biodiversity loss force a paradigm shift in what we value?" [more inside]
With capitalism in crisis, can it be sustained or is it altogether outdated? As Umair Haque asks though, perhaps a better question is: "are organizations and markets making decisions that help make people, communities, and society better off in the long run, by allocating their scarce resources to the most productive uses?" [more inside]
Moving beyond GDP for an information-based society - If indeed[1,2] "A 'Quantum Leap' in Governance" is needed then, as part of the solution, we might start looking past GDP[5,6] and perhaps more toward "betterness instead of business, pursue awesomeness instead of innovation — and maximize good, instead of quarterly profits..." [more inside]
The story of stuff and how it's currently being played out between the political economies of China and the US (G2 'Chimerica') in an illuminating Fallows vs. Ferguson cage match. [more inside]
Recently, John Michael Greer has been exploring a little known idea of the deceased economist E.F. Schumacher (a student of the oft-discussed Keynes). "Schumacher drew a hard distinction between primary goods and secondary goods. The latter of these includes everything dealt with by conventional economics: the goods and services produced by human labor and exchanged among human beings. The former includes all those things necessary for human life and economic activity that are produced not by human beings, but by nature. Schumacher pointed out that primary goods, as the phrase implies, need to come first in any economic analysis because they supply the preconditions for the production of secondary goods. Renewable resources, he proposed, form the equivalent of income in the primary economy, while nonrenewable resources are the equivalent of capital; to insist that an economic system is sound when it is burning through nonrenewable resources at a rate that will lead to rapid depletion is thus as silly as claiming that a business is breaking even if it’s covering up huge losses by drawing down its bank accounts." [more inside]
The Global Oneness Project is exploring how the radically simple notion of interconnectedness can be lived in our increasingly complex world. They travel the globe gathering stories from creative and courageous people who base their lives and work on the understanding that we bear great responsibility for each other and our shared world. [more inside]
Andy Grove on Our Electric Future - "Energy independence [viz.] is the wrong goal. Here is a plan Americans can stick to." Perhaps some infrastructure spending1,2 is in order? [etc., &c., cf.] [more inside]
The dangers of living in a zero-sum world economy - naked capitalism reprints (with added commentary) an FT article by Martin Wolf on why it's vital for (civilised) society to sustain a 'positive-sum' world, otherwise: "A zero-sum economy leads, inevitably, to repression at home and plunder abroad." Wolf's solution? "The condition for success is successful investment in human ingenuity." Of course! Some are calling for more socialism, while others would press on to build more megaprojects. For me, at least part of the solution lies in environmental accounting and natural capitalism :P
Everything I Want to Do Is Illegal by Joel Salatin. This Saturday will mark this article's four year anniversary. Frankly, I was mildly surprised not to have found it mentioned before in MeFi. It's a good read about a sad state of affairs; how our government is turning its own people into outlaws, because freedom has been traded in for an illusion of security. ...but then we already knew that. Don't we?
The Happy Planet Index presents an alternative to GDP for measuring standard of living. It ranks countries by measuring life expectancy and self-reported life satisfaction against an "ecological footprint" needed to support that country's lifestyle. The press release claims that well-being is not based on high levels of consumption, but many don't agree. Full report in PDF here. Vanuatu tops the charts, while Zimbabwe and Swaziland lie at bottom. Critiques here, here, here, and here. A critique of happiness indices generally here.
"Pro-environmental nations experience better economic outcomes on several measures, controlling for other factors, than nations with lax environmental policies."
Environmentalism, globalization and national economies, 1980-2000 [Schofer and Granados in Social Forces, Dec 06] Triple-punch! (1) "We find no impact of environmentalism on foreign investment and trade. Firms and investment do not appear to be fleeing countries with strong environmental standards." (2) "While it is common to assume that environmentalism targets industry, the agricultural sector may be [negatively] affected more significantly." (2) "[S]ociologists influenced by world-system theory [posit that] the relationship between environmentalism and growth could be spurious: environmentalism does not cause growth, but rather coincides with the economic success of core nations. However, broader results do not support this."
Water footprint - "of an individual, business or nation is defined as the total volume of freshwater that is used to produce the goods and services consumed by the individual, business or nation"
Nauru was once a lovely place. Despite its small size and isolation, Nauru's story is one of monumental dimensions. Things have gotten pretty grim. But it looks like Naurans may get a reprieve of sorts. Will it be pretty?
What if we can't afford to save the world? An interesting debate between Sierra Club’s Carl Pope and the outspoken Bjørn Lomborg. (The “saving the world” bit might seem like hyperbole, but the really interesting question this debate sparks for me is this: Hypothetically, if it really came down to it, would anyone be willing to save the world for free? And if not, what does that imply about our values system and personal priorities? What does it say about the practical utility and limitations of monetary-based economic systems?