by Angela Garcia Calvo in New Political Economy…In the second half of the 1990s, the commercial internet emerged as a remarkable connectivity tool that promised ever tighter integration of economies and societies. The desirability of internet use meant that it diffused globally with astonishing speed. In the US, technological leadership, enormous sums of venture capital, a large, single market, and a neoliberal, laissez-faire political economic environment, unleashed an ongoing process of entrepreneurship that resulted in the emergence of what became the global platform leaders.
Society is right on track for a global collapse, new study of infamous 1970s report finds
by Brandon Specktor in LiveScience.com…A steep downturn in human population and quality of life could be coming in the 2040s, the report finds.
Extreme weather cost $2tn globally over past decade, report finds
by Ajit Niranjan in The Guardian…US suffered greatest economic losses, report commissioned by International Chamber of Commerce finds, followed by China and India
Insurable losses from natural disasters – how have the numbers changed over the years?
by Terry Gangcuanco in Insurance Business Magazine….Canadian insurtech MyChoice has released a new study showing a sharp rise in insurable losses linked to natural disasters over the past four decades.
Chartbook 310 The shock of the new: Dollar dominance and modern monetary macro in the 1920s. (Hegemony note 5)
by Adam Tooze in Chartbook…The denaturing of the gold standard and the emergence of the new field of monetary macroeconomics combined to pose the question of global financial leadership in a way it had never been posed before, compounding the shock of discovering that the United States was the obvious answer to that question of leadership. Basic questions of monetary governance would never again have the feeling of stark novelty they had at that moment.
The ‘perfect storm’ of climate risks that is sinking your net worth
by Andrew Behar in Impactalpha…If we don’t all wake up – as a nation – to climate risk, homeowners will soon literally and financially be underwater.
More in this category
Food as you know it is about to change
by David Wallace-Wells in The New York Times…It can be tempting, in an age of apocalyptic imagination, to picture the most dire future climate scenarios: not just yield declines but mass crop failures, not just price spikes but food shortages, not just worsening hunger but mass famine. In a much hotter world, those will indeed become likelier, particularly if agricultural innovation fails to keep pace with climate change; over a 30-year time horizon, the insurer Lloyd’s recently estimated a 50 percent chance of what it called a “major” global food shock.
Why shifting from prediction to foresight can help us plan for future disruption
by Roger Spitz in World Economic Forum…As the world becomes more complex, foresight methodologies account for a greater set of possible futures.
Scenario development, a foresight methodology, is an alternative to prediction which can help map new possibilities.
Foresight may predict possible futures but more importantly, it allows for preparation.
Paraphilanthropy: Giving money its freedom papers
by Bayo Akomolafe….What addressing philanthropy’s colonial legacies asks of this moment.
The status of U.S. oil production: 2024 update everything shines by dimming
by Roger Blanchard in Resilience.org…The fact that U.S. oil production reached a very high level in 2023 and that so much of the production came from Texas made me think of the first major Texas oil bonanza
A big solar company may be collapsing
by Alana Semuels in Time….One of the largest residential solar installers in the U.S. appears to be on the cusp of failing, the latest sign of the troubled industry’s struggles.
Is there a future in the doomsday economy?
by Alexander Nazaryan in The New York Times….With Fortitude Ranch, the entrepreneur Drew Miller is betting on franchised timeshares for people who are worried about the end of the world.
The status of U.S. oil production: 2024 update everything shines by dimming
by Roger Blanchard in Resilience.org…To maximize profitability of deep water fields, the industry cranks up production rapidly to a high production level, say 100,000 b/d or more, but peak production is reached within a year or two and generally followed by rapid decline.
Shrink the economy, save the world?
by Jennifer Szalai in The New York Times….Economic growth has been ecologically costly — and so a movement in favor of ‘degrowth’ is growing.
New world order?
by Kate Mackenzie and Tim Sahay in Phenomenal World….At The Polycrisis we have been tracking the whipsaw of the global financial system amid private finance mantras, interest-rate hikes at the Fed, and the explosion of debt in the global South.
The European Union’s economic security strategy update
By Emily Benson in CSIS….As partners advance to this new era of technology-driven economic security agendas, governments will need to work concertedly to break the long-standing barriers between trade policy and national security.
A starting point for degrowth: The Costa Rica “Pura Vida” meaning
By Juan Ignacio Marín Degrowth is a theory, a movement, and a practice with a long and distinguished history. The excellent Wikipedia article (worth consulting) starts this way: Degrowth or post-growth economics is an academic and social movement critical of the...
Crop insurance costs explode
by Robert Arnason in The Western Producer…Those massive payments are connected to the severe drought of 2021, which crushed crop yields across much of Western Canada. There’s also the factor of higher prices for grains, oilseeds and pulse crops, which exacerbated the size of crop insurance payments.
Towards multivalent currencies, bioregional monetary stewardship and a distributed global reserve currency
from Dark Matter Labs.org…Ultimately we hope to convene a community who have diverse skills and experiences beyond our own; a distributed team united in designing and building the alternative monetary system that we so desperately require. A first step towards that is to think carefully about what a desirable monetary system might in fact contain.
7 Structural Shifts:
by Indy Johar in Dark Matter… Furthermore, it is also becoming increasingly apparent that as we shift away from our current material economy — a system that has generated abundance for some segments of society and scarcity for others — we are entering an era marked by greater scarcity. This transition could potentially lead us towards a novel concept of abundance. However, this journey is not without its challenges. As we begin to encounter the limitations inherent in our economies, particularly the rise of net-zero-sum scenarios, the risk of conflict and war further escalates.
The world being on fire is swelling ‘catastrophe bonds’ to a record $45 billion—and it’s a key hedge fund strategy
by SHERYL TIAN TONG LEE et al, in Fortune….“I can’t tell you if there’s going to be a hurricane or earthquake this year, obviously,” said Hagood of Nephila Capital. “But what I can tell you is spreads are near historical highs in the sector. So broadly speaking, we believe the market is being well paid for the risk.”