Satyajit Das: Age of Stagnation or Something Worse?

The world is entering a period of stagnation, the new mediocre. The end of growth and fragile, volatile economic conditions are now the sometimes silent background to all social and political debates. For individuals, this is about the destruction of human hopes and dreams.

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

Brilliant extract of the latest book of former banker Satyajit Das; The Age of Stagnation.

‘Authorities have been increasingly forced to resort to untested policies including QE forever and negative interest rates. It was an attempt to buy time, to let economies achieve a self-sustaining recovery, as they had done before. Unfortunately the policies have not succeeded. The expensively purchased time has been wasted. The necessary changes have not been made.’

 

See on Scoop.itThe Great Transition

Monetizing Nature: Taking Precaution on a Slippery Slope

In embracing the monetary valuation of nature as a strategy for mobilizing support for environmental conservation, environmentalists are resigning themselves to a political status quo that can only comprehend value in terms of money and markets. By viewing ecosystems and their services through a pecuniary lens, monetization profoundly changes our relationship with nature, and, if taken to the point of commodification, can subject the fragility of nature’s balance to the destructive logic and volatility of markets.

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

Very good article on the dangers of putting a price on ecoservices.

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Digitally disrupted GDP

Digital technologies are having dramatic impacts on consumers, businesses, and markets. These developments have reignited the debate over the definition and measurement of common economic statistics such as GDP. This column examines the measurement challenges posed by digital innovation on the economic landscape. It shows how existing approaches are unable to capture certain elements of the consumer surplus created by digital innovation. It further demonstrates how they can misrepresent market-level shifts, leading to false assessments of production and growth.

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

Interesting article on how the digitalisation of our economy impacts GDP measurement and leads to wrong policies.

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Europe’s immigration bind: how to act morally while heeding the will of its people

Liberal immigration policies can be enforced only by winning public support, not in spite of public opposition. Winning such support is not a chimera, there is no iron law that the public must be irrevocably hostile to immigration. Large sections of the public have become hostile because they have come to associate immigration with unacceptable change. That is why, paradoxically, the immigration debate cannot be won simply by debating immigration, nor the migration crisis solved merely by enacting migration policies. Anxieties about immigration are an expression of a wider sense of political voicelessness and disengagement. Until that underlying political problem is tackled, the arrival of migrants on Europe’s shores will continue to be seen as a crisis.

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

Without any doubt, one of the best articles recently written on the refugee crisis in Europe.

See on Scoop.itThe Great Transition

The best thing a business could do for the environment is shut down

A key finding of our research is that climate change poses a fundamental challenge to business as usual. While corporations frame climate change through the optimistic prism of innovation, technology and “green” products and services, the unpleasant reality is that our existing economic system fundamentally undermines a habitable climate.

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

Brilliant must-read analysis on the climatechaos, capitalism and the future of business

See on Scoop.itThe Great Transition

Don’t blame China for these global economic jitters

we have wasted the past seven years propping up a bankrupt economic model. Before things get any worse, we need to replace it with one in which the financial sector is made less complex and more patient, investment in the real economy is encouraged by fiscal and technological incentives, and measures are brought in to reduce inequality so that demand can be maintained without creating more debts.

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

Not China but debt addiction of the West & misguided austerity policies are cause of the new coming Depression.

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La Pologne n’est pas à l’abri d’une dérive fasciste

cette révolte des masses qui conduit à une forme d’autoritarisme politique et à une dictature populiste résulte des « politiques de non-reconnaissance » conduites un peu partout en Europe, selon la doxa néolibérale. Tous les fascismes européens ont commencé de la même façon : transformation d’un manque de dignité des masses populaires en fait politique pour retrouver la fierté nationale. On peut craindre que le fascisme qui a déjà pris une forme d’exercice de pouvoir et une méthode de gouvernance renaisse en Pologne.

Sourced through Scoop.it from: www.lemonde.fr

Excellent article in Le Monde on the fascist revolution in Poland and the importance for EU democracy

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The sharing economy is a lie: Uber, Ayn Rand and the truth about tech and libertarians

‘Uber is an ideological campaign, a neoliberal project whose real products are deregulation and the dismantling of the social contract.’

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

Good article explaining why Uber does not have anything to do with the #sharingeconomy & is not the #futureofwork.

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The Church of Economism and Its Discontents

A successful transition will depend on a diverse collection of efforts, including urging negative population growth; supporting sustainable consumption and degrowth; promoting the commons paradigm; working with religion to foster an ethic for an equitable and sustainable planet; furthering justice; improving the sciences; promoting agroecology; facilitating local markets; encouraging progressive forms of corporate ownership, governance, and practice; and warning of limits and the possibilities of tipping points. We will need all of these efforts and more to shift to a socially just and environmentally sustainable world. We will even need the insights of economists, but with a diversity of forms of economic thinking. We will need markets, but we will have to be far more aggressive in telling the “invisible hand” where to go. Hopefully, exposing the interrelationships between economism and the Econocene will help us see the depth and breadth of the problem and the role each of us can play in a collective solution.

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

Brilliant must-read article by Richard Norgaard on the role of ‘economism’ and the need for a radical transformation of our economies.

See on Scoop.itThe Great Transition

Who’s right, commodities or the Fed?

Either these commodities are about the turn the corner as renewed strength in the United States–the biggest buyer of commodities next to China–revives industrial metal and crude oil demand–or the Federal Reserve is misreading the tea leaves and crashing commodity prices signal a world and U.S. economy in distress.

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

Good article on the FED’s interest raise and the real economy implications

See on Scoop.itThe Great Transition

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