According to the Economist, “Europe’s planted forests put on a little more than 1.1m cubic metres of wood per day.” That is more than a thousand times the volume of iron in the Eiffel Tower.
These days it’s neither necessary nor economic to force food out of the poorest land. So instead of paying farmers to turn our uplands into ‘wet deserts’, we should pay them to recreate wooded habitats, encourage wildlife, prevent erosion and minimise flash flooding further downstream.
Read more...
The battle for Britain's countryside – the other Brexit debate
Capitalism
#45
The capitalist trilemma
To truly thrive, ordinary workers need all three of the following: full employment, a decent wage and affordable housing.
We can divide up western capitalism into three zones on the basis of where they fall down worst. So we have the horrendous hosting costs of the global cities; the pitiful wages of US and UK ‘flyover country’; and mass unemployment in the underbelly of the Eurozone. We could call these three models ‘Iowa’, ‘London’ and ‘Italy’.
This is the capitalist trilemma. An awful lot rides on which, if any, of the three models can break free.
Read more...
Full employment, decent pay and affordable housing: choose two
Capitalism
#44
Britain is about to send more power to Brussels – literally
Unlike those pesky windmills, nuclear power is reliable, right?
Tell it to the Belgians. The country is heavily reliant on seven nuclear reactors, split between two sites; but as Daniel Boffey reports in the Guardian, things have gone awry:
“A forced shutdown of one nuclear reactor in the lead up to winter may be regarded as unfortunate. But the closure of six of the seven reactors responsible for the supply of 40% of electricity is raising eyebrows, even in a country as prone to chaotic administration as Belgium.”
If it’s a cold winter and the Belgians can’t cadge enough ’leccy off their continental neighbours then “motorway lights will be switched off, industrial production suspended and rolling three-hour blackouts launched in homes nationwide”.
Luckily, there’s a new interconnector (basically a power cable that joins up different grids) between the UK and Belgium opening early next year. So it could be Brexit Britain that keeps the keeps the lights on in the Berlaymont.
Read more...
Could Britain be about to power share with Belgium?
Global Affairs
#43
Platform cooperativism
Uber, Airbnb, Facebook and Amazon – all examples of ‘platform capitalism’. Even in sectors where the products aren’t digital, proprietary networks are becoming key to market participation and coordination.
Is this future of the digital and digitally-enabled economy – i.e. a sequence of gated markets in which big tech gate-keepers collect all the money and then decide how much to give to the people who actually do the work?
In the American Conservative, Elias Crim proposes an alternative:
“…platform cooperativism, a marriage of the historic cooperative model of business and digital platforms aimed at bringing genuine democracy to the internet, especially in the form of distributed ownership…
“What if Uber drivers set up their own platform, or if a city’s residents controlled their own version of Airbnb?”
The alternative to nationalising Facebook is for government to make the ‘big data’ it collects available to platform coops. The tech companies are using their control over data flows to empower themselves; the state must use its digital resources to empower us.
Read more...
Platform cooperativism – an alternative to technopoly
Capitalism
#42
Kris Who?
How to illustrate China’s growing ‘soft power’?
From The Economist, here’s a list of the world’s top 15 universities for maths and computing, of which seven are Chinese and none are European.
But maths is boring, so how about pop music instead? As Adam Minter explains for Bloomberg, something very strange happened to the US iTunes chart in November:
“Kris Wu, a superstar in China, not only had the No. 1 spot on the iTunes’ singles chart but also seven of the top 10 songs.”
Wu is not a superstar in America, so how did he storm the charts? The explanation appears to be that his new album was released in America before China – and that his devoted Chinese fans found a way of downloading it from US websites.
Just another reminder that the assumption that globalisation equals westernisation is both arrogant and untrue.
Read more...
China: not just an economic superpower
Global Affairs
#41
The worst tweet of the year from a President named Donald…
President Trump tried very hard this year, as he does every year, but in 2018 he was edged out by President Tusk (of the European Council). If you missed it, here’s his winning tweet, directed at the entire population of Greece:
“You did it! Congratulations to Greece and its people on ending the programme of financial assistance. With huge efforts and European solidarity you seized the day.”
It’s amazing how much misjudgment you can pack into 26 words – the celebratory tone, the hypocritical reference to ‘solidarity’, the implication that Greeks had any choice in what the Eurozone authorities chose to do to them.
For the reality, read Frances Coppola in Forbes:
“The magnitude of Greece’s collapse over the last decade is extraordinary… The Greek people have just lived through a Depression as deep as the Great Depression and considerably longer. It is now the greatest recorded peacetime Depression.”
The only adequate response to the Euro-establishment is “no, you did it!”
Now read The Year UnPacked 40-31
Join the discussion
Join like minded readers that support our journalism by becoming a paid subscriber
To join the discussion in the comments, become a paid subscriber.
Join like minded readers that support our journalism, read unlimited articles and enjoy other subscriber-only benefits.
Subscribe