A World Without Work

We’re pretty good at noticing the immediate effects of technology’s substituting for workers, such as fewer people on the factory floor. What’s harder is anticipating the second-order effects of this transformation, such as what happens to the consumer economy when you take away the consumers.

Sourced through Scoop.it from: www.theatlantic.com

Brilliant must-read analysis of the coming ‘post-work’ society in The Atlantic.

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The real challenge this week is to save the eurozone — FT.com

Europe’s leaders will have the unique opportunity to commit two mistakes in a single week. On Monday, Europe’s leaders will decide on the future of Greece. On Thursday and Friday, they will meet again to discuss, among other things, the future governance of the eurozone. The latter is more important in the long run: a healthy eurozone may even withstand a Greek exit from the single currency and prosper. But a crippled eurozone would be no less crippled if Greece were to remain a member. A dual failure would be a disaster.

Sourced through Scoop.it from: next.ft.com

Pretty pessimistic analysis by Wolfgang Munchau (FT) on Grexit and the future of the eurozone

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Economics vs. the Economy

Economic theories, though social constructions, can reflect reality to varying degrees. In the face of dire environmental challenges, adopting a realistic theory is key to the survival of global civilization. The neoliberal emphasis on limitless growth and monetary flows, a relic of nineteenth century thinking, abstracts away from biological conditions. By contrast, ecological economics—as distinct from environmental economics, which remains wedded to the neoliberal growth paradigm—understands the economy as…

Sourced through Scoop.it from: www.greattransition.org

Brilliant theoretical essay by ecological footprint founder William Rees but ending with unjustified optimism.

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Greek debt crisis is the Iraq War of finance

Guardians of financial stability are deliberately provoking a bank run and endangering Europe’s system in their zeal to force Greece to its knees

Sourced through Scoop.it from: www.telegraph.co.uk

One of the best article on the real hidden agenda of the EU’s financial elites. ‘The EU is worried about political “moral hazard”, about what Podemos might achieve in Spain, or the eurosceptics in Italy, or the Front National in France, if Syriza is seen to buck the system and get away with it.’

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Amartya Sen: The economic consequences of austerity

There can be little doubt that Europe has needed, for quite some time, many serious institutional reforms – from the avoidance of tax evasion and the fixing of more reasonable retiring ages to sensible working hours and the elimination of institutional rigidities, including those in the labour markets. But the real (and strong) case for institutional reform has to be distinguished from an imagined case for indiscriminate austerity, which does not do anything to change a ­system while hugely inflicting pain. Through the bundling of the two together as a kind of chemical compound, it became very difficult to advocate reform without simultaneously cutting public expenditure all around. And this did not serve the cause of reform at all.

Sourced through Scoop.it from: www.newstatesman.com

Absolutely brilliant must-read analysis by Amartya Sen of Europe tragic austerity obsession

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Prosperous Descent: Crisis as Opportunity in an Age of Limits

f the global population is to live safely within the sustainable carrying capacity of the planet, we must be prepared – especially those of us in the developed regions of the world – to reimagine the good life by embracing ‘simpler ways’ of living based on notions of moderation, frugality, appropriate technology, and sufficiency.

Source: www.resilience.org

Worthwhile read on how to live the good life within the planetary limits.

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Questioning the Hype About Artificial Intelligence

Fresh fears about the singularity have prompted new critiques of what it will mean for humanity.

Source: www.theatlantic.com

Excellent analysis in the Atlantic about Artificial Intelligence and the over-optimistic and over-pessimistic narratives about this issue. Great conclusion: "The lesson of AI is not that the light of mind and consciousness is beginning to shine in machines, but rather the dimming of our own lights at the dawn of a new era".

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Spain’s CIC Tries to Build a New Economy from the Ground Up

CIC regards all of this as evidence that the state is no longer willing to honor its social contract with citizens. Accordingly, it has called for civil disobedience to unjust laws and is doing everything it can to establish its own social order with a more humane logic and ethic.

Source: www.resilience.org

David Bollier on the Catalan Integral Cooperative, ‘one of the more audacious commons-based innovations to have emerged in the past five years’

See on Scoop.itThe Great Transition

Weekend read: The trouble with growth

Clearly, belief in the indispensability of economic growth, while deeply rooted in governments virtually worldwide, is quite recent. The common view that growth has always been an important objective of government is mistaken.

That growth is inextricably bound up with human nature is an even greater mistake, if it makes us think that there really is no alternative to economic growth. Understanding that growth is not a necessary goal of government policy is critical if we are to imagine alternative economic futures.

Source: www.greenbiz.com

Great, must-read article by Tim Jackson and Peter Victor – from the new State of the World Report 2015

See on Scoop.itThe Great Transition

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