Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Tuesday, 13 January 2026

leopold kohr: opposing the cult of 'bigness' - and understanding that 'small is beautiful'

The idea that Small Is Beautiful was first popularised by the German-born British economist E. F. Schumacher over fifty years ago.

But his challenge to 'bigness' came from his mentor Leopold Kohr. And indeed, another of Kohr's pupils gave the lecture The Wisdom of Leopold Kohr at the Schumacher Center for a New Economics - this being the educationalist and philosopher Ivan Illich who has featured several times on this blog:

During his life-time, this teasing leprechaun was recognized by very few as a man ahead of his time. Even today, few have caught up with him; there is still no school of thought that carries on his social morphology... Throughout his life, Kohr labored to lay the foundations for an alternative to economics; he worked to subvert conventional economic wisdom, no matter how advanced.

With more on Leopold Kohr from the Schumacher Center for a New Economics:

Believing in the effectiveness of returning to the local level to solve the problems affecting humankind, he saw small self-governing communities as best able to solve their problems with their own resources.

He was against 'bigness':

Leopold Kohr was highly critical of the claim that the world is split into too many states and opposed pan-nationalist, continental and global unions. He argued that the success of Swiss Confederation did not lie in a union between the French, German and Italian-speaking peoples, as that would lead to the domination of Swiss Germans and to the gradual decline of other groups. The reason that Switzerland remained diverse was that instead of having three nationalities, it was federated into 22 cantons, representing the actual cultural divisions of Switzerland. Kohr argued that number of autonomous cantons "eliminates all possible imperialist ambitions on the part of any one canton, because it would always be outnumbered by even a very small combination of other".[15]

According to Kohr, a European Federation of unequally large states would lead to a domination of a single nation and thus an erosion of dialects and smaller languages "with just the same inevitability as the German federation, in which 24 small states were linked to the one 40-million Power of Prussia ended up in Prussian hegemony". For him, a successful European unification can be based only on the Swiss model, which would entail splitting the existing nation-states into smaller ones on the basis of cultural and historical regions. He defends the concept of Kleinstaaterei by arguing that while in the Middle Ages, wars were common, they were brief and caused little to no devastation. However, after the consolidation of Europe into a few large states, every war that erupted between caused huge destruction and loss life.[15]...

Kohr also discusses the problem of cultural heritage and cultural assimilation. According to him, culture is a product of individuals, and since individual cannot prosper under a large power, neither can culture. He describes democracy as a "system of divisions, factions, and small-group balances", which slowly wither away under internal consolidation of a large state and with it the ability for cultural and intellectual flourishment.[27]

Following the banking crisis of 2009, the author Paul Kingsnorth wrote in the Guardian that this economic collapse is a 'crisis of bigness':

One man who would not have been surprised by this crisis of bigness, had he lived to see it, was Leopold Kohr. Kohr has a good claim to be the most important political thinker that you have never heard of...

Drawing from history, Kohr demonstrated that when people have too much power, under any system or none, they abuse it. The task, therefore, was to limit the amount of power that any individual, organisation or government could get its hands on. The solution to the world's problems was not more unity but more division. The world should be broken up into small states, roughly equivalent in size and power, which would be able to limit the growth and thus domination of any one unit. Small states and small economies were more flexible, more able to weather economic storms, less capable of waging serious wars, and more accountable to their people. Not only that, but they were more creative. On a whistlestop tour of medieval and early modern Europe, The Breakdown of Nations does a brilliant job of persuading the reader that many of the glories of western culture, from cathedrals to great art to scientific innovations, were the product of small states.


To understand the sparky, prophetic power of Kohr's vision, you need to read The Breakdown of Nations. Some if it will create shivers of recognition. Bigness, predicted Kohr, could only lead to more bigness, for "whatever outgrows certain limits begins to suffer from the irrepressible problem of unmanageable proportions". Beyond those limits it was forced to accumulate more power in order to manage the power it already had. Growth would become cancerous and unstoppable, until there was only one possible endpoint: collapse.

Here are some very helpful reviews and summaries of The Breakdown of Nations by Leopold Kohr on Goodreads

.

.

.

Saturday, 18 October 2025

the addiction economy

Some questions about how we behave:

Should we ban smoking? And should we allow the use of opium for personal recreation?

Are we too trusting of the promises of technology? Are we aware of the creepy ways video games are trying to get us addicted?

Is diet or exercise better for us - and especially for children?

This is the 'addiction economy' - as featured in the New World/European:

Everyone is addicted to everything

Big tech is using the ‘nanny state’ arguments pioneered by the tobacco and alcohol industries to convince us that their freedom to sell equates to our freedom to choose. The opposite is true

Joe Woof - 8 October 2025



Where does your brain go when you see an obese person eating a pastry in public? Or a drunk friend making a fool of themselves and passing out, yet again, at a party? What about the smokers on their drips outside the hospital, still lighting up? Or the person who gambled away their savings, lost family, job, self-esteem, and yet carries on in the hope of winning it back? Or the depressed, anxious young person who spends hours on their phone looking at who knows what and doesn’t seem to see the connection?

Everyone is addicted to everything - The New World

Hilary Sutcliffe and Joe Woof are the co-leads of The Addiction Economy initiative.

This initiative is not about heroin addicts in doorways or ‘the war on drugs’.  It’s about how and why mainstream addictive products have been allowed to flourish for the benefit of companies at the expense of the rest of us. And how to stop them. The Addiction Economy describes those industries who knowingly and unashamedly erode our ability to control our usage of their products beyond the point at which it harms us.

Our White Paper exploring the 5 Drivers of the Addiction Economy draws cross-sectoral lessons and we explore how they play out in 9 industries: 4 physical - unhealthy and ultra-processed foods, cigarettes, alcohol and vapes and 5 digital, social media, gambling, pornography, computer games and chatbots .

We also explore how the widespread focus on the lack of will power of individuals derails policy action and hampers effective unaddiction strategies.

The Addiction Economy

It's very much about how children are targetted:

“Just Say No’ isn’t working. Do we need a new approach to teaching about addictive products in schools? YES! — The Addiction Economy

And others have been looking at this phenomenon too:

Addiction Economy | No Mercy / No Malice

The Economics of Addiction: Turning a Profit on One of America’s Greatest Problems – Michigan Journal of Economics

Here's a video to finish:

The Addiction Economy - YouTube


.

.

.

Wednesday, 30 July 2025

managed dystopia

The writer of 'Trainspotting' has just given The Interview - Celebrities: 9. Irvine Welsh: The Next Chapter - BBC iPlayer [See from 2:30 minutes, 7.30, 13:30 and 19:00 - and at 14:25 he talks about 'managing dystopia']

This is managed dystopia.

Or, from George Carlin - The American Dream.

Taking us from America to Russia to Ukraine, here's a piece by Paul Mason in the latest The New World

It started on the eve of independence day. In an hour-long phone call with Donald Trump, Vladimir Putin told the US president that Russia had played a major role in America’s war of independence, offered to send him a movie about traditional values, chatted about mutually beneficial business ventures… and then flatly insisted that “Russia would strive to achieve its goals” in Ukraine. That night Russian forces staged the biggest strike of the war so far, launching 539 long-range drones and seven ballistic missiles at Kyiv.

This is what's happening in Russia now, in its war on culture:

As predicted in science fiction:

.

.

.

Thursday, 12 June 2025

the state of the elt industry: "a steady year"

The E L Gazette looks at the latest info on student numbers in the English Language Teaching industry today: What does English UK’s 2025 student statistics report tell us? - E L Gazette

Going to English UK news"according to these latest annual figures, UK ELT held steady in a year of global uncertainty and turbulence".

And as reported across the industry's media:

Ivana Bartosik of English UK’s intelligence partner Bonard said, “In a year marked by global uncertainty, significant government interventions and projected double-digit declines in affected ELT destinations, the UK sector held steady. While overall growth remained flat, this consistency amid international turbulence reflects the UK sector’s enduring appeal and ability to adapt.” Steady year for UK ELT sector in 2024 - StudyTravel Network

The E L Gazette report also covers the lobbying by the industry of the UK government - which makes sense, as the economic impact of UK ELT is estimated at nearly £2 billion - following a report from English UK on the economics of the UK ELT industry back in April.

.

.

.

Tuesday, 25 March 2025

the future is african

 How do we and how should we see Africa?

LANGUAGE:

The continent is part of the Anglosphere:

Jay Doubleyou: the english-speaking world: west africa

Jay Doubleyou: different african english accents

Jay Doubleyou: english is an african language

Jay Doubleyou: west african pidgin english

Nigeria is the third largest country when it comes to English speakers, after India and the USA, although the list on Wikipedia can be questioned...

List of countries by English-speaking population - Wikipedia

And arguably the largest English speaking city in the entire world is Lagos, Nigeria:

The largest city by population in Africa with close to 25 million people! Also, arguably the largest English speaking city in the entire... | Instagram

Here's a better list:

English Speaking Countries in Africa - WorldAtlas

CULTURE:

In that case, when learning English, we do not need to stick with the UK - but can read and listen to stuff and have conversations with people coming out of places such as Cameroon and Kenya:

Jay Doubleyou: "let’s not make english about british culture"

When it comes to music, there is so much coming out of Anglophone Africa:

Jay Doubleyou: the music of west africa

Yes, London is a cultural centre, but much of this is multicultural, with the African diaspora contributing considerably:

Jay Doubleyou: adventures in art at the british museum

Jay Doubleyou: shonibare - gorgeously recognisable artist

And as for writing, there are powerful African voices making up the 'canon':

Jay Doubleyou: english literature

POLITICS:

Europeans have made their mark in the continent of course - and some are only just realising their impact:

Jay Doubleyou: facing up to your imperial past: the belgians

And this might also involve 'paying back' for any gains and losses:

Jay Doubleyou: reparations

But Africa has not always been on the receiving end of violence and robbery - but might have something to teach the rest of the world:

Jay Doubleyou: non-western democratic traditions

Jay Doubleyou: non-western democratic traditions - part two

THE FUTURE IS AFRICAN

Maybe, then, Africa can be seen not as a victim but as a provider and innovator:

Myth 6: Africa needs our help - Global Justice Now Global Justice Now

Here's another list:

10 things Africa has given the world | Eliza Anyangwe | The Guardian

Here's real promise for the future:

How Africa can help drive global climate change solutions - ONE Data & Analysis

Including in sport:

Newly elected IOC President Kirsty Coventry celebrated on return home to Zimbabwe | AP News

View from Africa: how Kirsty Coventry will handle sport’s biggest job at the IOC | International Olympic Committee | The Guardian

We need to think of Africa as more than a place to extract stuff:

What does Africa offer to global world development apart from Natural Resources? - Quora

And this might well become a source of power:

Why Africa will become a prominent player in global geopolitics | World Economic Forum

The future is African:

The Future Is African | Council on Foreign Relations

6 numbers that prove the future is African | World Economic Forum

To finish:

Afrofuturism is a cultural aesthetic that combines science-fiction, history and fantasy to explore the African-American experience and aims to connect those from the black diaspora with their forgotten African ancestry

Afrofuturism | Tate

Afrofuturism | National Museum of African American History and Culture

Afrofuturism: Turning pain into possibility - YouTube

And:

Let's Talk About 'Black Panther' And Afrofuturism - YouTube

Black Panther and Afrofuturism - YouTube

.

.

.

Wednesday, 30 October 2024

foreign-educated graduates reduce extreme poverty

There's quite a big story from this month about the effects of a 'foreign education' in helping to reduce poverty at home:

Int'l student mobility reduces global poverty, new study finds

Study shows how international student mobility can reduce poverty in low and middle-income countries | University of Oxford

Here is that study :

International student mobility and poverty reduction: A cross-national analysis of low- and middle-income countries - ScienceDirect

And here is the coverage from the EL Gazette:

International student mobility shown to reduce poverty

A new study published in the International Journal of Educational Research has found that foreign-educated graduates reduce extreme poverty in low- and middle-income countries. Researchers from the University of Oxford examined how international higher.

International student mobility shown to reduce poverty - E L Gazette

The EL Gazette give a particular example of this:

News in numbers: young Turkish students abroad drive growth

Türkiye’s junior ELT market is showing significant signs of growth, with 88% of young people expressing interest in studying abroad, according to Engin Cosar, owner of Academix Study Abroad Services. Recent research from BONARD has taken...

News in numbers: young Turkish students abroad drive growth - E L Gazette

Generally though, education, whether 'foreign' or not, is good at reducing poverty:

How does education affect poverty? It can help end it.

.

.

.

Sunday, 22 September 2024

what is 'merit'?

This is something most of us think is a good thing - but what is 'merit' exactly?

the quality of being good and deserving praise:

MERIT | English meaning - Cambridge Dictionary

And what do we mean by 'deserving' what you get?

to have earned or to be given something because of the way you have behaved or the qualities you have:

DESERVE | English meaning - Cambridge Dictionary

Most of us believe that 'merit' deserves recognition and should be rewarded:

In a meritocracy, the people are chosen who are thought to be the best.

Meritocracy - Simple English Wikipedia, the free encyclopedia

But do we really 'merit' or 'deserve' what we get?

Do you feel lucky? The answer, well known to psychologists, is that you probably don’t. You probably think you got where you are today through willpower and elbow grease. We chronically underestimate luck’s role, and this seems to get worse the richer we get; surveys show that the wealthiest are least likely to attribute their fortunes to, well, good fortune. They also seem to be meaner: one ingenious study found drivers of luxury cars were more likely to cut others off than those in cheaper vehicles.

It’s hardly surprising many such people oppose taxation and government spending: why should others get a handout if they didn’t need one? The ironic result is that they vote against the very policies that helped them get lucky to begin with. In a recent Atlantic essay, Robert Frank, an economist who has studied attitudes to chance, quoted EB White: “Luck is not something you can mention in the presence of self-made men.”

Yet to see this purely as a problem of the super-rich lets the rest of us off too easily. Anyone living in a highly developed economy in 2016 is already the beneficiary of stupendous luck – for example, not being born during the plague, or living in the modern-day Central African Republic (average life expectancy:about 50). Ponder that, and it’s easier to see why Buddhists speak of the incomparable luck of being born human at all. You might have been a battery hen, or a mayfly with a one-day lifespan.

Don’t think you’re lucky? Think again | Health & wellbeing | The Guardian

Jay Doubleyou: don’t think you’re lucky? think again

In other words:

Do Those on Top Deserve Their Success?
Many people who find themselves on the wrong side of growing inequality feel the system is stacked against them.
But who deserves to succeed?
Should we reward talent and hard work?
If so, what do we do about those left behind?
Do they deserve their fate, too?
And is talent, in fact, little more than luck?
Using a pioneering digital facility at Harvard Business School, Professor Michael Sandel is joined by 60 people from nearly 40 different countries.
Together they look for answers to these tough questions; questions which lie behind some of the biggest political stories of the moment.

The Global Philosopher - Do Those on Top Deserve Their Success? - BBC Sounds

Jay Doubleyou: meritocracy

Even the Financial Times is questioning this:

Architects of Meritocracy

Michael Sandel has written a book about this:

The Tyranny of Merit

And he makes a provocative statement:

Michael Sandel: 'The populist backlash has been a revolt against the tyranny of merit' | Michael Sandel | The Guardian

Here he is talking about this:

x

Michael Sandel: The tyranny of merit | TED Talk

Jay Doubleyou: the tyranny of merit: we are not self-made or self-sufficient

.

There are two new books out on this:

Inheritocracy | Biteback Publishing

The Art of Uncertainty by David Spiegelhalter review – a search for sense in probability and chance | Books | The Guardian

.

On the radio:

Start the Week - Chance and fortune - BBC Sounds

.

.

.

Wednesday, 11 September 2024

techno utopia + moore's law

Will technology save us?

Jay Doubleyou: will carbon capture and storage save us?

Jay Doubleyou: will innovation or government save us?

Jay Doubleyou: is technology going to save us?

Yes, technology is making things cheaper:

Digital Deflation: Tech Combats Inflation - Disruptive Competition Project

The Great AI Deflation Bomb

Do more with less: Using technology as a deflationary force in an inflationary economy - K3

Here's an understanding of how "technological progress works":

Moore’s Law is the observation that the number of transistors in an integrated circuit (IC) doubles about every two years. Moore's law is an observation and projection of a historical trend... Industry experts have not reached a consensus on exactly when Moore's law will cease to apply. Microprocessor architects report that semiconductor advancement has slowed industry-wide since around 2010, slightly below the pace predicted by Moore's law. In September 2022, Nvidia CEO Jensen Huang considered Moore's law dead,[2] while Intel CEO Pat Gelsinger was of the opposite view.[3]

Moore's law - Wikipedia

But maybe it's stopped working...

Techno Utopia is NOT happening, Moore's Law is Dead - YouTube

It's in the news:

Moore's Law - Google Search

.

.

.

Friday, 29 March 2024

the real price of learning english

How much does it cost to learn English?

How much does it cost to learn English in the UK? ‹ Frequently Asked Questions ‹ Frequently Asked Questions

And are there other approaches?

How Much Does It Cost To Learn English? Can You Learn English For Free?

But is the system fair?

The true cost of science’s language barrier for non-native English speakers

The latest EL Gazette discusses this, starting with another discussion:

Back in December, an intriguing and divisive article appeared in the Guardian. The article, titled ‘English still rules the world, but that’s not necessarily okay’, was written by lecturer in public policy and administration at the University of Ulster, Michele Gazzola. In it, Michele discusses the position of the English language in today’s modern world, and the implications it has for those who speak it as a second language. Specifically, Michele says there is a real cost, financially and socially, to both countries and individuals.

What is the real price of ELT… - E L Gazette

Finally, maybe the costs of not learning a second language need to be considered:

A Cost/Benefit Analysis of Learning a Second Language | Language Trainers UK Blog

The True Cost of (Not) Learning a Second Language for International Education - Gateway International Group

.

.

.

Wednesday, 21 February 2024

what is a crypto city?

Sounds a good idea?

Some are still waiting for the idea to materialise:

Waiting out Bukele's 'Bitcoin City' on a Salvadoran beach

El Salvador: The American still waiting for ‘Bitcoin City’ - France 24

Some were sceptical from the beginning:

A golden city on the coast of the tropical Pacific. A metal walkway suspended above a verdant volcano. And a glossy marina that looks like it belongs in Monte Carlo rather than a near failed-state besieged by some of the world’s most violent criminals.

The detailed gilded model released this week of ‘Bitcoin city’ – the first ever dedicated cryptocurrency trading hub, to be built on El Salvador’s western shore and powered by geothermal energy from a volcano – is nothing if not spectacular.

The grandiose project is the brainchild of the troubled Central American nation’s headline-grabbing populist president, Nayib Bukele, arguably now the world’s foremost cryptocurrency evangelist after foisting Bitcoin as legal tender on his largely bewildered compatriots last year. In September, every El Salvadoran citizen was given $30 worth of Bitcoin in a government issued crypto wallet – although many reported that the money mysteriously disappeared from their accounts.

Meanwhile Bukele, a 40-year-old former businessman and marketing executive with a serious Twitter habit and a penchant for wearing baseball caps backwards, has risked the ire of the International Monetary Fund, who say he is taking gratuitously ‘large risks’ with El Salvador’s precarious economy.

With the world’s highest murder rate, ravaged by mara street gangs, cartels funnelling cocaine from the Andes up to the United States, and an annual per capita GDP of just £3,000, you might think that Bukele had more pressing — and realistic — priorities than turning the region of La Union, an impoverished rural backwater on the Pacific Coast where Bitcoin city will be built, into the epicentre of the highly volatile crypto-revolution.

The madness of El Salvador’s Bitcoin city | The Spectator

Here's a further look:

Blockchain City | Crypto Documentary | Blockchain Technology - YouTube

There is a lot of interest, of course, from the tech and finance sectors - but how much of this is hype?

Definition of Bitcoin City | PCMag

Crypto millionaires building their own cities in Central America | MIT Technology Review

New, futuristic 'blockchain cities' are just castles in the air - Blockworks


AI generated art with the terms “solar punk cityscape, smart city, crypto city, network state”

Here’s my working definition, informed by Vitalik’s blog post on Crypto Cities, Balaji’s book The Network State, and my own experience studying and working in urban planning and city government:

A crypto city is an IRL (in real life) city with a government that uses crypto technology to operate and govern.

The word “crypto” in front of “city” doesn’t give any hints about the physical design or master plan of the city in real life. It is not associated with any particular city style like new urbanism or towers in a park, but refers mainly to the operation and governance of a city. In this definition, crypto is not short for cryptocurrency, but cryptography, which is the underlying technology that gives us both blockchains and cryptocurrency.

What is a Crypto City? - by Nicholas Bonard - Crypto Cities

There's even a game:

CryptoCities

.

.

.

Thursday, 30 November 2023

reparations

CLIMATE:

The latest international talks on climate change have opened today:

COP28: Can a climate summit in an oil state change anything? - BBC News

Too little. Too late. Too slow. But could COP yet turn the tide on climate change?

There's a lot of debate around 'reparations':

There is a word that we are going to hear once COP28 gets underway in Dubai later this week: ‘reparations’. While US climate envoy John Kerry has tried to rule out any US agreement to pay reparations to countries affected by what he himself might claim were ‘climate-related disasters’, many developing countries are determined to put compensation top of the agenda, and push it far further than the agreement last year at COP27 to create a ‘loss and damage’ fund whereby developed nations hand out money to poor ones deemed to be affected by climate change.

Climate reparations are an awful idea | The Spectator

US refuses climate reparations for developing nations - BBC News

Rich countries with high greenhouse gas emissions could pay $170tn in climate reparations | Climate crisis | The Guardian

Are climate reparations finally on the way for vulnerable countries? | Climate Crisis News | Al Jazeera

SLAVERY:

The idea of 'reparations' is being applied in other contentious areas:

Brazil bank's ties to slavery reopen wounds, reparations debate

African and Caribbean nations agree move to seek reparations for slavery | Slavery | The Guardian

Big business benefited from slavery – let it pay reparations | Slavery | The Guardian

Bristol University to change logo associated with Edward Colston and start £10m 'reparations' fund - Bristol Live

EMPIRE:

From King Charles III to the publishers of the Guardian, they fall over themselves to admit to crimes they did not commit. Black impotence and white guilt make a heady mixture. What history clearly shows is that reparations have always represented the interests of the compensating power, not the compensated. Historical guilt is a luxury only the very rich can afford.

Against reparations - spiked

‘Inevitable’ India’s jewels taken by British empire will be returned, says author | British empire | The Guardian

£18 trillion - what Britain owes in reparations. Time to pay up. - Voice Online

Former British colonies renew calls for reparations on Emancipation Day | Slavery News | Al Jazeera

WAR:

Ukraine urges world court to impose 'reparations' over Russia war

Council of Europe Summit creates register of damage for Ukraine as first step towards an international compensation mechanism for victims of Russian aggression - Portal

Should Ukraine get Russia’s frozen reserves?

AND:

Poland’s ruling party hopes call for German war reparations can swing election – POLITICO

Poland should pay Russia $750bn for WW2 “liberation”, says chairman of State Duma | Notes From Poland

AND:

Italian Jewish leader says new $67 million Holocaust reparations fund 'a mockery' | The Times of Israel

Holocaust survivors to receive $1.4 billion in payments from Germany next year : NPR

...

Friday, 14 July 2023

7 years on: why did people vote brexit?

Brexit happened seven years ago - and there have been different ways to look at it:

Brexit referendum seven years on: Where are we now? | Politics | News | Express.co.uk

Brexit’s 7 biggest headaches, 7 years on from EU referendum | The Independent

Although a lot of people aren't interested:

Seven years on, only one in three Britons can recall the EU referendum result | YouGov

Looking back what were the reasons for the vote?

Jay Doubleyou: brexit, britain and turkey

Jay Doubleyou: brexit: experts, elites and hedgefund managers

Jay Doubleyou: middle england: the heart of brexit britain

Jay Doubleyou: brexit: "the majority of leave voters were middle class. most lived in the south of england."

Jay Doubleyou: brexit and the culture wars

Jay Doubleyou: brexit from very different perspectives

The BBC asked people just after the vote:

BBC Radio 4 - The Briefing Room, Why Did People Vote Leave?

Maybe it had a lot to do with the decades before:

Tabloid Tales: How the British Tabloid Press Shaped the Brexit Vote - Simpson - 2023 - JCMS: Journal of Common Market Studies - Wiley Online Library

The three classic British sitcoms that forecast Brexit

Britain and Europe Before Brexit: A Complicated Relationship | Time

Here are some extracts from a recent piece in the New European by David Kynaston:

Birth of a catastrophe: How the seeds of Brexit were sown in the 1960s

One of Britain’s leading historians explains how the roots of the decision taken seven years ago were laid decades before that

Were the 1960s, that most mythologised of all decades, when it all began to go wrong? I believe one can make a plausible case that that was when the long, slow-burning fuse was lit for half a century later.

We must start with de-industrialisation. Although the great step-change would come in the traumatic early 1980s, as Britain lost one-quarter of its manufacturing capacity in just two years, even in the 60s the direction of travel was unmistakable. At the start of the decade, employment was roughly equal between manufacturing and services, but by the end it had tipped decisively towards the latter, a change neatly symbolised by the moment the number of hairdressers passed the 100,000 mark.

Textiles, coalmining, shipbuilding, steel: all of Britain’s staple industries were in significant decline, as were the railways. This decline inevitably triggered the erosion of a working-class way of life, deeply in tune with industrial rhythms that had been established in the late 19th century and had come to seem permanent...

No one has written more powerfully about the social and psychic impact of de-industrialisation than Jeremy Seabrook, who on the very day that Britain voted to leave published in the New Statesman a characteristically impassioned piece about the death of the industrial way of life. “The ravages of drugs and alcohol and self-harm in silent former pit villages and derelict factory towns,” he observed, “show convergence with other ruined cultures elsewhere in the world.”

Almost all of this still lay ahead at the end of the 60s, but the left-behind signs were starting to become clear. And given that in some distinct ways Brexit has been a very male – even alpha-male – phenomenon, it is relevant that the 60s themselves saw, more markedly than in either the 1950s or 1970s, a growing proportion of women in the British labour force, once such a masculine preserve. And soon, unimaginable not long before, they would even be entitled to equal pay.

As with de-industrialisation, so too with that pet hate of the Brexiteers, “globalisation”. Although it did not become a recognised phenomenon as such until the 1990s, and although exchange controls were still firmly in place, there were indications during the 60s of the way things were going. Not only was foreign ownership of British companies increasingly prevalent, epitomised by Nestlé taking over Crosse & Blackwell as early as 1960, but these years saw the rapid flourishing of international finance centred on the City of London. This led to the rise of what became known as the Euromarkets, which involved a dominant role for American banks and in effect represented stage 1 of the internationalisation of the City, to be followed two decades later by the much more publicised stage 2, the Thatcher-era deregulation known as “Big Bang”. The Square Mile was becoming ever more adrift from the UK economy...

In short, taking these examples as a whole, we are talking about culture wars; and this was the decade when the battle-lines were drawn, often a long way from swinging London.

To end with the story a friend once told me… It was 1969, a Sunday evening in Goole (a town about 30 miles inland from Hull), and he had taken his girlfriend to the pub – where the barman refused to serve them. Their crime? She was wearing trousers. Carnaby Street and the King’s Road may have been at their fashionable height, the Rolling Stones may have been playing at Hyde Park, but Goole was still Goole.

Over the ensuing half-century, the forces of social conservatism would enjoy two defining moments in the sun. The first came in 1979, as Margaret Thatcher was swept to power not, in my opinion, because of her free-market views, but instead because many believed (on the whole mistakenly, as it turned out) that she was the person to turn the clock back to a Britain, above all an England, as it had been before the 60s; and of course the second came in June 2016, when incidentally the Leave vote was higher in Goole than almost anywhere else. “Nostalgia for the past” was the instinct to which the EU’s Michel Barnier would attribute the Leave vote. To a large extent he was right.

Birth of a catastrophe: How the seeds of Brexit were sown in the 1960s - The New European

.

.

.

Friday, 31 March 2023

quiet quitting... white strike... great resignation... antiwork... lying flat

There are some interesting 'trends' happening in the world of work:

QUIET QUITTING

Quiet quitting refers to doing the minimum requirements of one’s job and putting in no more time, effort, or enthusiasm than absolutely necessary. As such, it is something of a misnomer, since the worker doesn’t actually leave their position and continues to collect a salary. In the early 2020s, driven largely by social media, quiet quitting emerged as a much-publicized trend in the United States and elsewhere. However, some observers have questioned how common it actually is—and whether it’s even a new phenomenon. What Is Quiet Quitting—and Is It a Real Trend?

The notion of quiet quitting suggests a norm where people have to perform extra, often undesirable tasks outside of their job description, and where not doing that additional work is considered a form of “quitting” your job. Forcing employees to do this extra, unpaid work is wrong, but the debate around “quiet quitting” also raises important questions about who is actually doing much of this unpaid labor. ‘Quiet quitting?’ Everything about this so-called trend is nonsense | Tayo Bero | The Guardian

While its disruption to organizational functioning may be less visible than that of the Great Resignation, quiet quitting can in fact be even more damaging. To address this challenge, leaders must focus on motivating employees to fulfill their core tasks, listen to workers and address their unique needs, and create cultures that invite workers to craft their own approaches to citizenship. When Quiet Quitting Is Worse Than the Real Thing

WHITE STRIKE

Work-to-rule (also known as an Italian strike, in Italian: Sciopero bianco, or slowdown in US usage[1]) is a job action in which employees do no more than the minimum required by the rules of their contract or job,[2][3] and strictly follow time-consuming rules normally not enforced.[4] This may cause a slowdown or decrease in productivity if the employer does not hire enough employees or pay the appropriate salary and as such does not have the requirements needed to run at the level they desire.[5][6] It is a form of protest against low pay and poor working conditions,[3] and is considered less disruptive than a strike or lockout as obeying the rules is not susceptible to disciplinary action or loss of pay. Work-to-rule - Wikipedia and Sciopero bianco - Wikipedia

An Italian Strike (aka Work-to-Rule) is a version of this aimed at minimizing ci... | Hacker News

Work-to-rule: a guide | libcom.org

What is Quiet Firing? 6 Signs You Are Being “Quiet Fired” From Your Job

THE GREAT RESIGNATION

The Great Resignation, also known as the Big Quit[2][3] and the Great Reshuffle,[4][5] is an ongoing economic trend in which employees have voluntarily resigned from their jobs en masse, beginning in early 2021 in the wake of the COVID-19 pandemic.[6] Among the most cited reasons for resigning include wage stagnation amid rising cost of living, limited opportunities for career advancement, hostile work environments, lack of benefits, inflexible remote-work policies, and long-lasting job dissatisfaction.[7] Most likely to quit have been workers in hospitality, healthcare, and education.[8][9][10][11]
Some economists have described the Great Resignation as akin to a general strike.[12][13][14] However, workforce participation in some regions has returned to or even exceeded the pre-pandemic rate.[15][16][17] This suggests that instead of remaining out of the workforce for extended periods (which can be financially difficult, especially at a time of high inflation), many workers have been simply swapping jobs.[9][8] 
Great Resignation - Wikipedia

Are we witnessing a ‘General Strike’ in our own time? - The Washington Post

The 'great resignation' didn't happen in Australia, but the 'great burnout' did

AND

r/antiwork is a subreddit associated with contemporary labor movements, critique of work, and the anti-work movement.[1][2][3] The forum's slogan reads: "Unemployment for all, not just the rich!"[1] Posts on the forum commonly describe employees' negative experiences at work, dissatisfaction with working conditions, and unionization.[1][4] Various actions that have been promoted on the subreddit include a consumer boycott of Black Friday as well as the submission of fake jobs applications to the Kellogg Company after the company announced plans to replace 1,400 striking workers during the 2021 Kellogg's strike. The popularity of r/antiwork increased in 2020 and 2021, and the subreddit gained 900,000 subscribers in 2021 alone, accumulating nearly 1,700,000 subscribers by the end of the year. It is often associated with other ideologically similar subreddits such as r/latestagecapitalism.[5] r/antiwork has been compared to the Occupy Wall Street movement due to the subreddit's intellectual foundations and decentralized ethos.[1] r/antiwork - Wikipedia

Tang ping (Chinese: 躺平; pinyin: tÇŽng píng; lit. 'lying flat') is a Mandarin term that describes a rejection of societal pressures to overwork, such as in the 996 working hour system, which is often regarded as a rat race with ever diminishing returns.[1][2][3][4] Those who participate in tang ping instead choose to "lie down flat and get over the beatings"[citation needed] via a low-desire, more indifferent attitude towards life. It can be thought as the Chinese equivalent of the hippie counter-culture movement.[5] Tang ping - Wikipedia

Refusal of work - Wikipedia

SILENT SURRENDER...

.

.

will carbon capture and storage save us?

The UK government is getting into CCS:

Grant Shapps says tapping into carbon capture trillions ‘will power up Britain’ | Nature | News | Express.co.uk

But not everyone is convinced:

The UK government will defy scientific doubts to place a massive bet on technology to capture and store carbon dioxide in undersea caverns, to enable an expansion of oil and gas in the North Sea.

UK government gambles on carbon capture and storage tech despite scientists’ doubts | Carbon capture and storage (CCS) | The Guardian

The big producers of CO2 are being targetted:

UK Turns to Big Oil Companies in £20 Billion Carbon Capture Push - Bloomberg

This huge power station won't be getting the government subsidies:

UK energy strategy casts doubt on Drax’s carbon capture project | Drax | The Guardian

This is greenwashing:

When the political economy in which climate policy making happens is considered, the repeated role of CCS so far is revealed: a handy excuse to delay reform and protect the profitability of powerful sectors of the economy.

Does carbon capture and storage hype delay emissions cuts? Here's what research shows

As this piece of political satire from Australia shows:

...

The Australien Government has made an ad about Carbon Capture and Storage, and it’s surprisingly honest and informative.

Honest Government Ad | Carbon Capture & Storage - YouTube

.

.

.

Tuesday, 14 March 2023

how green are electric cars?

What do you know about how 'green' electric vehicles are?

Would it be 'greener' to drive your old banger?

Yes: Geoff Buys Cars - YouTube

... successive scrappage schemes, launched during the 2008 financial crash and repeated several times since, spelled doom for many healthy, cheap cars because they were worth more dead than alive. ‘It was a scandal,’ he said. The death of old bangers | The Spectator

Measuring carbon footprints: old bangers vs new electric cars - Vision Group for Sidmouth

No: Is Keeping Your Old Car Better For The Environment? - YouTube

Maybe: What's the carbon footprint of ... a new car? | Environment | The Guardian

Futures Forum: VW... and making 'wholly opaque disposable vehicles' >>> rather than making vehicles which 'run for a long time and are easy to fix'

What are the issues here?


How green are electric cars? | It's Complicated - YouTube

Here's the latest: How 'green' are electric vehicles? - Vision Group for Sidmouth

Follow the money:

Heartland Institute, which has received almost $800,000 from oil major ExxonMobil, according to the oil giant’s corporate donation disclosures, published an article last year saying “EV buyers should be aware that they may be contributing to the pursuit of “blood minerals” to achieve their efforts to go green. Why your electric car may not be as green as you think, from batteries to production

Is it Ethical to Purchase a Lithium Battery Powered EV? – The Heartland Institute

Lithium's in the news: Lithium - Google Search

With a report from Amnesty International: Child labour behind smart phone and electric car batteries

And news from Cornwall: How lithium reserves in Cornwall could fuel green industrial revolution - YouTube

Finally: Cleaning up the Clean Energy Transition: Lithium Mining's Environmental Challenges - YouTube

.

.

.

Sunday, 12 February 2023

why young chinese are 'lying flat'

Young Chinese do not want to have children:

Frustrated by increasingly iron-fisted government policies during the Covid lockdowns, young Chinese people have adopted an apathetic “lying flat” philosophy, which encourages a rejection of high-pressure jobs. In their 20s and 30s, many resist doing what is expected of them and instead settle for a low-desire life or move abroad. Having children is the last thing on their minds. An online survey last year of more than 20,000 people, mostly urban women between 18 and 25, found that two-thirds have a “low birth desire”. 

‘The last generation’: the young Chinese people vowing not to have children | China | The Guardian

Over the Chinese New Year, there were jokes about 'lying low': Lunar New Year: why a skit about lying-flat cadres is China’s Spring Festival gala hit | South China Morning Post

So, what is 'lying flat'?

The ‘lying flat’ or tang ping movement is a phenomenon that emerged in China in 2021. It describes the generations born in the late 1990s and 2000s who, disappointed by their lack of social mobility and economic stagnation, have decided not to ‘not strive for their futures’. They do not want to follow the values of hard work, home ownership, marriage or living standards sought after by past generations.

China’s young ‘lie flat’ under social challenges | East Asia Forum

Here's a good piece from the BBC: 'Lying flat': Why some Chinese are putting work second - BBC News

.

.

.

Friday, 20 May 2022

what is fintech?

computer programs and other technology used to support or enable banking and financial services.

"fintech is one of the fastest-growing areas for venture capitalists"

what is fintech - Google Search

Oxford Languages and Google - English | Oxford Languages

Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. ​​​At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. Fintech, the word, is a combination of "financial technology".

Financial Technology (Fintech) Definition

FinTech, a combination of the words “financial” and “technology,” is a relatively new, and often nebulous term that applies to any emerging technology that helps consumers or financial institutions deliver financial services in newer, faster ways than was traditionally available. Think of the difference between walking into a bank to request your balance and the ability to pull up that information in real-time on your phone and you’ll have a good idea of FinTech’s impact.
Everything from a consumer’s ability to go online and see their financial transactions to apps that allow you to pay friends to tools that allow financial institutions to make quick lending decisions are all part of the evolution of financial services. The ability for investors to do their own research, choose stocks and see their portfolio performance in real time is also an example of FinTech in action.
FinTech is empowering consumers to take charge of their financial lives, leading to much greater financial literacy than ever before. It’s tearing down the old silos and helping to advance the consumers’ financial situation and outcomes by leveraging advanced technology.

What Is Fintech? The Fintech Industry | Envestnet | Yodlee

Think back, for a moment, to your pre-COVID-19 life. In those less socially distanced days, fintech was the unsung hero of your Friday night.
You deposited your paycheck by snapping a photo on your smartphone and uploading it to your bank’s mobile app. You checked Mint to gauge your monthly entertainment budget. At dinner, you and your buddy split the tab using Venmo. Later, you tapped your phone at the bar to pay for a drink with Apple Pay. When it was time to head home, you hopped in an Uber, where you paid for the ride with a stored credit card—or even in Bitcoin.
Even if you don’t realize it, fintech is likely a big part of your personal and professional day-to-day. Ernst and Young’s 2019 Global FinTech Adoption Index cites the adoption rate of fintech as more than two-thirds (64%) globally, up from 16% in 2015. According to the report, three out of four consumers used money transfer and payment solutions last year.
As with many emerging technology sectors, fintech can be an ambiguous concept due to the sheer breadth of tools, platforms and services that fall under its yawning umbrella. If you’re still asking yourself what exactly fintech is, here’s a breakdown.
What Is Fintech?
Fintech is a portmanteau for “financial technology.” It’s a catch-all term for any technology that’s used to augment, streamline, digitize or disrupt traditional financial services.
Fintech refers to software, algorithms and applications for both computer- and mobile-based tools. In some cases, it includes hardware, too—like smart, connected piggy banks or virtual reality (VR) trading platforms. Fintech platforms enable run-of-the-mill tasks like depositing checks, moving money among accounts, paying bills or applying for financial aid. They also encompass technically intricate concepts like peer-to-peer lending or crypto exchanges.
The annual Forbes Fintech 50 compiles some of the hottest platforms on the market worth noting. The 2020 list included companies like Chime, a financial technology company whose banking services are provided by, and whose debit card is issued by, The Bancorp Bank or Stride Bank, and Affirm, a resource for instant, fixed-rate, point-of-sale loans. Stripe also emerged as an investor darling this year, with a $1 billion vote of confidence in the form of funding from Sequoia Capital, General Catalyst and Visa, among others.
Fintech branches off into a number of more granular industries: wealthtech (apps like Wealthsimple, an online investment management service), investtech (like Acorns, which lets users round purchases up to the nearest dollar, investing the change in a diversified portfolio) and insurtech (such as Next Insurance, a mobile-first carrier). It has use cases across nearly every industry, geographical market and business model.
Banks use fintech for both back-end processes—behind-the-scenes monitoring of account activity, for instance—and consumer-facing solutions, like the app you use for checking your balance. Individuals use fintech for everything from tax calculations to dabbling in the markets, with no prior investing experience necessary.

What Is Fintech And How Does It Affect How I Bank? – Forbes Advisor

.

.

.

Friday, 13 May 2022

how do people access finance in the emerging economies?

To take Nigeria as an example of how difficult it is to get access to credit for a small business:

All around the world, businesses struggle to access the financing they need to expand. ... While most respondents can access a bank, the banks themselves have a role to play in outreach and reducing the perception of high collateral requirements.

Access to Finance in Nigeria - GeoPoll

Here's a government report looking at 'financial inclusion':

Financial Inclusion In Nigeria:Issues And Challenges

It's difficult though, as with this report from last summer:

Nigeria Misses Goal on Growing Access to Financial Services
Almost 36% of adults don’t have a formal bank account
Government had sought to reduce that to just 20% by 2020

Nigeria fell short of its goal to bring more of its citizens into the regulated financial system, with the effects of the pandemic and difficulty in penetrating rural areas weighing on the effort.
Almost 36% of adults in Africa’s most populous country didn’t have any kind of bank account at the end of 2020, according to EFInA, a U.K.-backed development organization that seeks to bolster inclusive finance in Nigeria. The figure was little changed from two years ago and well above the government’s goal of cutting the proportion of nationals without financial access to 20%, which it set in 2013.
The West African nation has sought to bring more of its citizens into the formal financial sector as part of efforts to modernize its economy, bolster tax collection and cut back on informal jobs that often exploit workers. It has licensed banks, wireless carriers and technology companies to offer services as part of efforts to broaden access, especially for the two-thirds of the population that live outside of cities. 

Nigeria Misses Goal on Growing Access to Financial Services - Bloomberg

Perhaps we need to go to 'fintech':

Harnessing Nigeria’s fintech potential

How stakeholders could position the fintech sector for growth now and beyond the crisis.
DOWNLOADS
Full Report (25 pages)
Banking in Nigeria remains an attractive sector, with over $9 billion in value pools, but despite high levels of competition, the vast majority of consumers are underserved. Lack of access to services, especially in rural areas, issues of affordability, and poor user experience all contribute to the frustration consumers experience right across the customer spectrum.
This has created an opening that fintechs have been quick to take advantage of, with many stepping up to develop enhanced propositions across the value chain to address pain points in affordable payments, quick loans, and flexible savings and investments, among others...

Friday, 29 April 2022

a new economic world order?

Are we seeing a new global currency emerging?

Russia and China are out to undermine the US dollar, and if they succeed it will change the world for ever

Maybe not:

Why Russia and China’s move to shift world away from the US dollar is doomed to fail | South China Morning Post

China economy: Central bank tries to slow weakening yuan vs US dollar

Renminbi on course for steepest monthly fall as China’s economy slows | Financial Times

And are we seeing new global payment systems?

China, Russia Develop Alternatives to the SWIFT Payment System

Financial Weapons Helped the West Respond to Russia. China Wants to Weaken Them. | Barron's

Maybe not:

Paul Mason writes in the New European about the future of the global economy:

Ukraine has smashed the global economy… and there’s no going back

This is not only another cold war, it's a profound fragmentation of the global economy with little chance of a return to normal

When people on the left use the term “capitalist system”, it’s often to portray a generalised way of doing things between companies, workers and banks. But there’s a much more specific way in which the global, market-based economy is a “system”. Ever since it emerged in the 19th century, it has required both formal and informal structures between states to keep things going.

The Gold Standard, the 1944 Bretton Woods agreement that replaced it, and the World Trade Organisation are formal arrangements. Informally, though it is nowhere written down on paper, stability has always relied on one major economic power providing leadership – its currency becoming the global reserve, its bonds being the safest investments on earth.

What we’re living through – with the Ukraine war, the division of the world into sanctions and anti-sanctions blocs, and the declaration by Russia and China that the post-1945 order is over – is essentially a crisis of leadership. American power is in decline and China cannot assume leadership. As we watch the votes of smaller countries at the UN swing backwards and forwards between the pro-Russian and pro-Ukraine camps, those blinking lights – red, green and amber – are a kind of dashboard of systemic power.

We’ve been here before, of course. After the first world war, the essential question was: who will lead and regulate the system? The answer was America… probably.

And in that space of uncertainty during the inter-war period, we saw the Great Depression, fascism and eventually another war. Because until 1941 neither the US public, nor large parts of its political class, wanted to assume global leadership.

But today’s crisis is of a different magnitude. Charles Kindleberger, a historian whose life’s work was to study the inter-war economy, listed five things a leading country has to do: buy other countries’ goods at knockdown prices; lend to countries in distress; stabilise exchange rates; co-ordinate economic policies across the system; and be the lender of last resort. It was America’s unwillingness to do so, and Britain’s inability, he argued, that triggered the Depression of the 1930s. There has, in short, to be a big country resilient enough to take the economic strain. After 1945 that country was the US. Today, however, there is a crisis deep within capitalism itself. At the micro level, something is badly wrong. Since 2008, the only way to keep the engine turning has been to pump newly created money into the system, via quantitative easing; and to run up debt. When Lehman Brothers went bust, the combined debts of global households, firms and states were $147tn.

Today they total $256tn (£196tn) – and rising.

Yet, until February 24 2022, the essential architecture of the system held. The dollar was the global currency of last resort. The US remained the informal co-ordinator of macroeconomic policy. American debt was the safest form of investment.

The Ukraine war has thrown all these certainties into doubt. While the seizure of Russian yachts has made the headlines, the most spectacular sanction applied was America’s decision to freeze half of Russia’s foreign exchange reserves, which are held in dollars in western banks. It tanked the value of the rouble.

Though the rouble has been artificially pushed back towards its pre-crisis level, the cost to Russia is enormous: most of its trade with the West – except for oil and gas – is grinding to a halt. Major brands, banks and corporations have pulled out. Russia is heading for a devastating recession. Trade in everything from semiconductors to wheat to smartphones is shutting down between the rival powers.

Some believe the US dollar’s role as the global reserve currency is doomed. Zoltan Pozsar, an economist at Credit Suisse, has predicted the rise of a rival global trading system backed by the Chinese renminbi. Russia – unable to trade in dollars or euros, he argues – will form a symbiotic trading bloc with China, and smaller countries will begin to abandon the dollar.

Others scorn the idea. They point out that Britain and America, in their heydays, were economies with deep, resilient markets and subject to the rule of law. They had to single-handedly crisis-manage the world economy. They had to be prepared to see their bonds and currency circulate around the world.

China, says US economist Joseph Politano, is neither willing nor able to do these things. It’s not possible for foreigners to move capital in and out of China; nor does Beijing operate a legal system where you stand a fair chance of getting your money back if things go wrong. So becoming world leader is not just about size. It took two decades, says Politano, for the dollar to become the reserve currency.

For now, I side with the sceptics. What we’re seeing is a new kind of crisis – where American power is weaker, but in which it is impossible for China to emerge as the leading capitalist power. If it wanted to do so, it would have to liberalise its financial markets, democratise its politics and separate the powers of the executive, judiciary and parliament.

Much more likely is that China becomes the leader of the unfree world, and puts pressure on countries that want to be in it to think and act according to totalitarian diktat. So this is not just another cold war. It is a profound fragmentation of the global economy, with little chance of a return to normal.

What that means was best summed up by the banker Sir Ernest Harvey, just after the 1929 Wall Street crash: “It’s better that a car is driven by one bad driver than by two excellent drivers fighting over the steering wheel.

Ukraine has smashed the global economy... and there’s no going back - The New European










.

.

.