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  1. I see it as also being an energy problem. Past growth and economics activity was based on energy availability, at cheap prices.

    Look at the price of oil. Even with the downturns of the US & EU, new demand from China, India and the developing world means more demand overall. This means there isn’t enough energy to maintain the low energy status quo the OECD is built on.

    New jobs in the OECD means a new energy labour dynamic. Problem is that means letting go of high energy ways. The problem isn’t capitalism, but the failure to maintain it in a workable form. Big multinationals short circuited markets by unbalancing them. Initially by creating asymmetrical markets, and ultimately delaying change and evolution with bail outs and subsidies from the public purse.

    Too much deregulation, unlearning the lessons of the 30’s. Too much wealth being concentrated in the top 1%. Not enough energy to go round, with a climate change chaser. A recipe for social instability.

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