Global economic crisis: could we have predicted it? - Forecasting Net. Following the 2008 credit crunch, the global economy entered a serious recession, marking negative growth rates at 2009, for the first time in 60 years.
The initial efforts of the G20 to reinitiate the economy by the deployment of extensive stimulus packages, although successful in the beginning, resulted in the significant rise of public debts challenging the credibility of even the largest economies. Beyond any doubt, this is the most severe economic slowdown that we faced since the Great Depression, with lasting repercussions in the following years. But was this a random incident in our history or could we have predicted it and take the necessary steps to minimize losses? This will probably be a matter of debate for some time, however, I for one believe that we could. To be more specific, in an article published just a few days prior to the collapse of the Lehman Brothers, evidence was presented about an upcoming economic downfall, near the end of the first decade of the millennium. 4 Trends Shaping the Emerging “Superfluid” Economy. Image by ericaglasier.com @EricaGlasier Humanity and technology continue to co-evolve at an ever increasing pace, leaving traditional institutions (and mindsets) calcified and out of date.
A new paradigm is emerging, where everything is increasingly connected and the nature of collaboration, business and work are all being reshaped. In turn, our ideas about society, culture, geographic boundaries and governance are being forced to adapt to a new reality. While some fear the loss of control associated with these shifts, others are exhilarated by the new forms of connectivity and commerce that they imply. Transactions and interactions are growing faster and more frictionless, giving birth to what I call a “superfluid” economy. Business will not return to usual. Technological acceleration isn’t just a phrase. This may lead to technologies becoming so tiny that they simply fade into the background experience of our lives. So what? It is our choice to enable such a future or not. Like this: Capitalism 4.0 by Anatole Kaletsky. Anatole Kaletsky sometimes seems like the Stephen Hawking of economics.
No problem, however deep, can faze him. No situation he finds is beyond solution. He goes – wisely, lucidly, above all confidently – where no experts have gone before. You know you're in the presence of a master. But the trouble is you can't always quite understand what he's saying. Capitalism 4.0: The Birth of a New Economy by Anatole Kaletsky In a way, that shouldn't be the difficulty with Capitalism 4.0 because Kaletsky keeps stopping to explain in very simple terms. Capitalism 3.0, of course, headed in a completely opposite direction as Mrs Thatcher and Ronald Reagan skipped to the sidelines, leaving monetarism and market forces to do the job.
How do we do that, though? This is a harsh precis, to be sure. Capitalism 4.0, you'll be glad to know, has no room for big Hank or followers of George W Bush – the Incompetent party. Well, we're learning again, right now. Will New Zealand be the first developed country to evolve a steady-state economy? Posted on January 11, 2012 by admin Jack Santa Barbara New Zealand will inevitably make a transition to a steady-state economy.
The onset of energy descent — having less and less energy to use with each passing decade — will push it to do so sooner rather than later. The critical question is whether the transition to a steady-state economy will be by design or disaster. It is a safe prediction that New Zealand will eventually develop a steady-state economy, one characterised by stable or mildly fluctuating levels in population and consumption of energy and materials, with birth rates on par with death rates, and production on par with depreciation, all within levels of material throughput that do not exceed ecological limits.[1] This is the inevitable outcome for all nations whether they set this goal or not.
Human civilisation’s current economic growth paradigm is unsustainable and headed for the disaster option. Self-protection is another reason for New Zealand to make the transition.