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Energy and the Financial System: What Everyone Needs to Know… and Work Darn Hard to Avoid

Energy and the Financial System: What Everyone Needs to Know… and Work Darn Hard to Avoid | Sustain Our Earth | Scoop.it

"Our economic and financial system is based on assumptions of continued growth. Currently growth is highly dependent on energy and a surplus thereof as provided by high EROI energy sources. Our available energy sources, however, are providing less and less energy returns on the amount of energy we put into them. Therefore the amount of surplus energy available is declining. Thus, given the dependence of growth on energy, growth will decline too. The little remaining health of our financial systems, however, relies heavily on assumptions of continued growth and rather high ones at that, but those assumptions will increasingly turn out to be false if Boyd’s prediction of declining EROI is true".


Via Willy De Backer
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Willy De Backer's curator insight, April 12, 7:13 AM

Great article on the link between society's diminishing energy return on energy investment and the current economic and financial crisis. A must-read for all austerians and post-Keynesians. This time it IS really different.

Eli Levine's curator insight, April 13, 3:35 PM

Indeed, our ability to "grow" economically and socially is bound by the environment, our population size, cosmological conditions, food production and our state of technology.  Should we honestly "grow" for the sake of "growing", if it comes at long term as well as short term harm?

 

Things that Capitalism under its current logic, does not answer and does not wish to answer.

 

Think about it.

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Suddenly, quantitative easing for the people seems possible

Suddenly, quantitative easing for the people seems possible | Sustain Our Earth | Scoop.it
As some of the world’s top central bankers start to admit that standard quantitative easing is failing to generate growth, previously taboo ideas can be mentioned, including QE for the People, discussed here last week.

 

Interesting and provocative ideas from financial economist Anatole Kaletsky (author of "Capitalism 4.0"). Give the new money created by central banks to the people instead of the banksters.


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Realizing Private Capital’s Public Benefits

Realizing Private Capital’s Public Benefits | Sustain Our Earth | Scoop.it

"Financial-market reform has fallen far short of securing the sector’s resilience, let alone driving investment in the technology, energy systems, infrastructure, and business models needed to develop a sustainable world economy."

 

Good article in Project Syndicate by sustainability expert Simon Zadek on the need to tackle the financial sector.


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Difficult Labour: the birth of the financial transaction tax

"Video "Difficult Labour" for the financial transaction tax of Oxfam Germany with Heike Makatsch, Mark Waschke, Stephan Grossman & Rike Eckermann."

 

Brilliant and funny video on the Tobin Tax


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Should Banks be Ethical, Sustainable and Boring?

Should Banks be Ethical, Sustainable and Boring? | Sustain Our Earth | Scoop.it

Ensuring that banks are boring may prove to be a key element of a new business model for the banking sector, enabling the sector to re-establish its ethical framework and focus financing on sustainability.

 

Good article on the future of banking and the financial sector in Forbes. Title is misleading in my view: what is boring about working for real value and the real economy?


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lelapin's comment, July 22, 2012 2:04 AM
Having boring associated with ethical and sustainable in same sentence creates, in my humble opinion, a link that I find not very sound, unless you'd find unethical and unsustainable exciting.