It Comes Undone-Think About It
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Rescooped by Eli Levine from The Great Transition
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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 | It Comes Undone-Think About It | 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
Eli Levine's insight:

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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Willy De Backer's curator insight, April 12, 2014 10:13 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.

Rescooped by Eli Levine from The Great Transition
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The Rise of Anti-Capitalism

The Rise of Anti-Capitalism | It Comes Undone-Think About It | Scoop.it

"A formidable new technology infrastructure — the Internet of Things — is emerging with the potential to push much of economic life to near zero marginal cost over the course of the next two decades."


Via Willy De Backer
Eli Levine's insight:

Perhaps this era of free manufacture will break the current economic system (assuming that the businesses don't attempt to break it).

 

It still won't change the attitude with regards to money, society and the environment that's proving so caustic to our whole world.

 

This will be interesting to watch.

 

Think about it.

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Willy De Backer's curator insight, March 16, 2014 4:47 AM

As always, super-optimist Rifkin is great at analysing new trends in the global economy, but totally misjudges the negative implications. This is the guy who predicted the age of the "European Dream". Look where Europe is now! So by all means, read this NY Times article but put off your rosy glasses.