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.
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.
More in this category
Climate risks place 39 million U.S. homes at risk of losing their insurance
From California to Florida, homeowners have been facing a new climate reality: Insurance companies don’t want to cover their properties. According to a report released today, the problem will only get worse. Tik Root Read the full article by Tik Root on Grist
Degrowth: The awakening of consciousness before an alternative
by Juan Ignacio Marin in Resilience.org….It is important to emphasize that the ideals of degrowth do not advocate a defense of economic poverty, but rather call for sufficiency. The emphasis on the true meaning of the term consumption — distinguishing it from consumerism — seeks to introduce a change in our way of life that reflects sufficiency, what we truly need.
How Musk, Thiel, Zuckerberg, and Andreessen—four billionaire techno-oligarchs—are creating an alternate, autocratic reality
by Jonathan Taplin in Vanity Fair…..In an excerpt from his new book, The End of Reality, the author warns about the curses of AI and transhumanism, presenting the moral case against superintelligence.
Economics for the future – Beyond the superorganism
by NJ Hagens in Ecological Economics….Our environment and economy are at a crossroads.
The Superorganism V. The Doughnut
by Nate Hagens in The Great Simplification…..Increasingly, these shortfalls in both ecological and social well-being of the current economic system are becoming more recognized by the general populace. In this conversation, Kate and I discuss a framework for bringing the human system in line with the biosphere while meeting the needs of everyone.
Why it seems everything we knew about the global economy is no longer true
by Patricia Cohen in The New York Times…While the world’s eyes were on the pandemic, China and the war in Ukraine, the paths to prosperity and shared interests have grown murkier.
The global polycrisis reflects a civilizational crisis that calls for systemic alternatives
By Zack Walsh, Polycrisis Transition Consultancy…A review of emerging definitions of polycrisis within cognate bodies of scientific literature exploring societal risk and collapse, plus implications for how to respond to the depth and severity of the global polycrisis via just and regenerative civilizational alternatives.
Global tech supply chains are as complex as a circuit board
by Brendan O’Connor in Instick….The logic of the Palo Alto System that Stanford developed in breeding horses — that is, the logic of capital, articulated as eugenics — structured the organization of the new university.
Climate shocks are making parts of America uninsurable. It just got worse.
by Christopher Flavelle in The New York Times….The largest insurer in California said it would stop offering new coverage. It’s part of a broader trend of companies pulling back from dangerous areas.
Puerto Rico: A U.S. territory in crisis
by Amelia Cheatham and Diana Roy in Council on Foreign Relations…Puerto Rico is a political paradox: part of the United States but distinct from it, enjoying citizenship but lacking full political representation, and infused with its own brand of nationalism despite not being a sovereign state.
‘In a lot of the world, the clock has hit midnight’: China is calling in loans to dozens of countries from Pakistan to Kenya
By Bernard Condon, Fortune….Poor countries have been hit with foreign currency shortages, high inflation, spikes in unemployment and widespread hunger before, but rarely like in the past year.
Global rice shortage is set to be the biggest in 20 years
There’s a strained supply of rice as a result of the ongoing war in Ukraine, as well as weather woes in rice-producing economies like China and Pakistan.
Yellen warns climate change could trigger asset value losses, harming US economy
Yellen will tell a new advisory board of academics, private sector experts and non-profits there has been a five-fold increase in the annual number of billion-dollar disasters over the past five years, compared to the 1980s, even after taking into account inflation.
How free-market extremism became America’s default mode
The book is a follow-up of sorts to the duo’s “Merchants of Doubt,” which pulled back the curtain on those who minimized the harms of tobacco, acid rain, climate change and much more.
A Bigger Boat | Frankly #26
In this Frankly, Nate shares some context about how he thinks about the recent global banking and financial market news.