(Twelve minute read)
This is an easy thing to say but to implement is another kettle of fish because it requires a paradigm shift in the way developed countries approach economic policy.
Changing the world seems like one of these huge, impossible things that no man can possibly achieve.
It requires a rethink how we define and measure economic success.
In order to find new ways to transform the world we live in goals will have to be built into the structures of the economy from the outset, rather than hoped for as a by-product, or added after the event.
Everything that goes around, comes around.
People always wish for change because it’s the constant thing in this world, and they always have this deep, inner desire to improve things even if there’s nothing to improve.
Every people I know wants change, but for what purpose exactly?
Why do we crave change? And how exactly to change?
How exactly can you change without making mistakes?
How to actually know you’re making a change if you don’t know your objective?
What if there’s nothing to be changed?
Where do we start?
Change comes in learning from the mistakes of our past.
Realising that it’s a mistake.
When things stay the same and your life is getting worse and worse, then it’s time for a change.
Broadly speaking an economy is an interrelated system of human labour, exchange, and consumption.
Economic policy should prioritise environmental sustainability, economic resilience, reducing inequality and improving wellbeing economic growth in OECD countries have generated ‘significant harms’ over recent decades – including rising inequality and catastrophic environmental degradation.
Instead of focusing on gross domestic product (GDP), now is the time to prioritise environmental sustainability, improving wellbeing, reducing inequality and strengthening economic resilience.
A return to the status quo would be disastrous so governments that are spending unprecedented sums to rebuild their economies after the Covid pandemic, must look beyond growth alone to prioritise the needs of people and planet.
It argues that this will require a new role for the state, with governments becoming more entrepreneurial, seeking to shape markets and steer the process of economic change, not simply correcting market failures.
So where are we?
Various layers of inequality have being exposed and exacerbated by the COVID-19 pandemic.
It has laid bare risks we have ignored for decades: inadequate health systems; gaps in social protection; structural inequalities; the digital divide, environmental degradation. the energy sources we count on are limited, just like water.
In fact, most wars and political conflicts in the world start because of lack and/or need for energy resources. In America alone, the consumption of energy rises every year, and it doubles every 20 years.
The climate crises is showing that computers and software will not be able to replicate human creativity.
This “new kind of social contract” is required to transform the relationship between the state, business, civil society and citizens.
5G as on par with the printing press, electricity and the steam engine –
Self-driving cars, remote robotic surgery, autonomous weapons — all that and much more is set to be delivered via the 5G wireless network, which promises to transform our lives and add trillions of dollars to the global economy every year.
This leap forward in connectivity will be key to the spread of artificial intelligence and machine learning, enabling massive amounts of data to be collected from remote and mobile sensors and analysed in real time.
Drive everything from home appliances that order groceries to autonomous vehicles to smart cities.
Given the power of 5G technology, it is no surprise that it has also become a proxy for the broader power struggles.
However Technology alone will not change the core problems in the world.
The Fourth Industrial Revolution can’t be a panacea for the problems caused by our obsession with unchecked economic growth. Over the past couple of decades, the world has become enamoured with the transformative power of technology.
In spite of all the hype, digital technology could not prevent nor control the spread of the coronavirus.
Technology won’t solve the climate crisis, prevent the recurring wildfires.
We all think time and money is so important, but are our health, peace and happiness not more important?
We’re in this together and it can only be solve together.
We can protest, till we are blue in the face, demand change till the cows come home, hold world conferences till we run out of air. There is however one weapon if we all of us were to use it collectively that would bring change – that is Buying power.
Doing the right thing for the environment, pro-actively using it to effect change.
In this uphill battle, the good news is that solutions are out there.
Business would be held accountable for addressing local and
global societal needs.
Industry players that suffer would not helplessly standing by as their revenues and profits dwindled, they would act intensified competition.
But is this inevitable? Can companies learn to adapt and react to ensure their continued success and prosperity? The answer is yes.
Since buyer power is dynamic, just visualize this scenario.
What would happen if we all refused to pay our energy bills till the Government put in place non repayable grants to install solar panels or insulation.
There is no right answer here but it would be impossible to either jail or fine everybody.
It is therefore important to understand what choices we have available to us to determine what type of buyer we will be, and therefore where our strengths lie.
That strength would be a campaign conducted on our mobile phones.
Once a month campaign targeting profit for profit sake, demanding change.
Your choices would impact their bottom line.
Resilience – not technology – is the answer to our biggest
It’s either an entirely environmentally-friendly existence.
Or are we just going to except a burning world with wars and mass migration till there is nothing left to live for.
All human comments appreciated. All like clicks and abuse chucked in the bin.