Category Archives: Capitalism

THE BEADY EYE SAY’S . THE ADVERTISING INDUSTRY MUST BE BROUGHT TO HEAL WITH NEW LAWS TO REDUCE CONSUMPTION.

25 Tuesday Apr 2023

Posted by in #whatif.com, 2023 the year of disconnection., Advertising, Advertising industry,  Attention economy, Capitalism, CO2 emissions, Cry for help., Desensitization., Environment, How to do it., Human values., Modern day life., Profiteering., State of the world, Sustaniability, Telling the truth., The common good., The Obvious., The pursuit of profit., The world to day., Unanswered Questions., Universal values., VALUES, What is shaping our world., Where's the Global Outrage.

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( Seven minute read)

It is crystal clear that consumption is a major donator to the problems of both the environment and all of us are now facing. There is consistent evidence that exposure to marketing for unhealthy commodities – for example advertising for alcohol or food and drinks high in fat, salt, or sugar – is associated with consumption, including among children and young people.

To confront the climate emergency, the amount we consume needs to drop dramatically. Yet every day we’re told by the advertising industry to consume more.

The purpose of advertising is to boost revenue, gain an advantage over competitors, and build brand awareness, so it latch on to what ever is topical – Climate change – Energy – Sustainability – Cost of living etc.

Now with technology it has billion-dollar persuasion machines, promoting not quality of life but rather quantity of stuff.

It’s woven into our personal communications whenever we use social media platforms. In public spaces, where we have little choice over where we look, adverts are invasive, appearing without our consent, with the trend towards digital billboards only exposes us ever more.

Its so prevalent as to be invisible but with an effect no less insidious than air pollution.

We all have a role to play — from making sustainable choices to help safeguard the ocean and our environment, to urging world and business leaders to take the urgent, widespread, and ambitious action needed to tackle climate change and protect the planet.

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This is an industry capable of quickly shifting global public opinion, with the power to change hearts, minds and behaviour resulting in action, potentially on a global scale and also with profound and rapid effect.

It must be made to take responsibility for consumption, instead of continuing to drive the high carbon lifestyles and hyper-consumption that is killing us.

If we were to introduce new laws restricting marketing agencies from taking work from clients who aren’t actively reducing their own contributions to climate change, earning money from high carbon clients, the sort of companies from whom the investment community is increasingly divesting; promoting unnecessary and over-consumption, these companies  would eventually be forced to match their green advertising slogans with real green investment.

The questions for the advertising industry would become what are our obligations to tackle climate change i.e. how might we have contributed to climate change and how do we stop doing so, and what are our opportunities i.e. where can we make a positive contribution to the issue?

What other than laws will forced  it to rethink their strategies so the industry will go through a transition period, to discover a purpose beyond profit?

In fact, many would argue that the move to “doing well by doing good” will only become truly mainstream when the corporate social responsibility agenda and the growth agenda become one and the same.

There is no reason that governments could not introduce restricted areas and venues where the advertising of consumption is not allowed.

Buses covered in advertising at London's Piccadilly CircusA billboard advert in Manchester

For example:  Sporting events, Natural Reserves/ Public Park’s, Billboards and bus stops, Out door digital advertising.

We could stop television programming being sponsored by consumption  – Eat now.

Of course in a free society, businesses have the right to advertise their wares, and individual citizens are not the helpless brainless automatons that advertising industry’s considers them to be.

All advertising plays a crucial role in brand competition, drives product innovation, and fuels economic growth but would we not rather see community ads and art than have multi-billion companies putting logos and images everywhere?

If they are allowed to get the message out, the public has a right to reply to those ads.

We don’t want our city’s children bombarded with animated advertising on TV screens in the street.

Critically, the more that people prioritise materialistic values and goals, the less they embrace positive attitudes towards the environment – and the more likely they are to behave in damaging ways. If you think this is a fanciful aim, then you might need to think again with the state the world is in.

We’re in a place where major behaviour change is required.

To question the legitimacy of corporate outdoor adverting and draw attention to the impact they can have on social issues, mental health, wellbeing, the climate, and the communication of public space where governments are too inert/broke/ill-intentioned/in thrall to vested interests to take effective action.

Business leaders must increasingly look beyond short-term profitability to address the pressing need to reduce emissions.

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.The advertising industry is in a very different place to where it was a year ago.

Where, how, and when you advertise will constantly change with the times. That’s one thing we can count on.

Culture has always defined marketing and brand marketers have a lot of power to dictate.

The rise of the internet, computers, and mobile devices only provided more platforms for video ads to appear. It’s probably still going to be one of the most important advertising trends in the next 5 years.

We have our hands on the levers of behaviour change, but in an era in which attention is often only ever partial, puncturing the collective consumer inertia with a complex message is no easy feat.

We spend every day thinking of ways to change people’s behaviours,

These skills are the ones needed more than ever by the world to halt the human causes of climate change.

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Advertising has always evolved with the technology at hand. This includes tracking of clicked links, customer behaviour, purchase history, survey responses, and more.

Marketers can then use that information to create custom messages or content that’ll match the target audiences’ interests.

Finding out which people to show a particular ad to and the right time to show them is crucial in the world of smartphones

Next step, profit.

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In a cut-throat and viciously competitive market, pioneering new technology can have a major impact on the effectiveness of advertising campaigns.

Another big use of mobile advertising is through games.

A lot of mobile games are created with the format of being able to purchase resources with real-world money.

This means that ads will now be geared towards targeting real people through emails and other registered user data. With more information available, marketers can provide customers with a better offer that’ll most likely translate into sales.

Social advertising is the use of Facebook, LinkedIn, Instagram, Twitter, and other social media platforms for advertising potentials.

The format itself is undergoing rapid transformation because most people watch for content and not for production quality.

Data collection and cookies naturally have poor public perception, often being viewed as encroaching on private information and stealing data, with ads following consumers around the internet.

Now, these apps aren’t just for sending messages and emoji cause it’s also a place to find advertisements relevant to users.

As the climate crisis bites

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We need new metrics and measurement tools – and new bonus and remuneration systems to underpin our value systems, not just legislation against high-carbon advertising, focusing on fossil fuel companies, petrol- and diesel-engine cars and aviation.

Because, marketing has been transformed by digital speed, relevance and reach of advertising campaigns.

Because, overconsumption in general, encouraged by advertising, has a climate and ecological impact.

Because, programmatic advertising uses AI to automatically buy ads that can target audiences more specifically. ( Programmatic advertising is a combination of big data processing, technical skills, and automation.)

Because, advertising works by getting under your radar, introducing new ideas without bothering your conscious mind.

Because, contextual advertising is a form of targeted advertising where site content and keywords are analyzed in real time to determine their suitability for a brand’s message.

Because, children are now at the mercy of so-called “surveillance advertising”. It is estimated that by the time a child turns 13, ad-tech firms would have gathered 72m data points on them. The more data collected from an early age, the easier it is for advertisers to turn young children into consumer targets.

A transformation of marketing is underway as we spend more time on our mobiles, tablets and laptops. The real-time conversations brands have with people as they interact with websites and mobile apps has changed the nature of marketing

We know that advertising is a key engine of the economy. There are visual images and marketing messages that have insinuated themselves into the nervous systems of humans.

There’s a long way to go and a lot to be done. The ad business, with strategy tools and processes that were for the most part developed in the 60s to accommodate the advent of commercial TV, is a lot closer to where it started the journey than where it needs to get to.

Let’s create a movement and band together to save the planet in a non-branded or political way.

New checks and balances need to accommodate the natural concerns of councils and residents around climate, air pollution, environmental light pollution, the “attention economy”, mental health and the dominance of non-consensual adverts in public spaces.

I’m sure most advertisers and agencies would rather work on solving this global crisis, and if we can use just 5% of the industry’s time toward this initiative.

It isn’t clickbait that is needed but a genuine concern for the fate of the planet or a cynical hunch that doing the right thing will drive growth and profit – if the improved behaviour is real.

I believe that would lead to greater satisfaction, retention and more.

Break the Silence and comment.

All human comments appreciated. All like clicks and abuse chucked in the bin.

Contact; bobdillon33@gmail.com

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THE BEADY EYE ASK’S. CAN WE GET A GRIP BEFORE ITS TOO LATE? BECAUSE THE FUTURE IS NOT FOR THE FAINT OF HEART — OR THE POOR.

23 Thursday Feb 2023

Posted by in #whatif.com, 2023 the year of disconnection., Artificial Intelligence., Capitalism, Civilization., Climate Change.

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(Seventeen minute read)

It seems to be easier for us today to imagine the thoroughgoing deterioration of the earth and of nature than the breakdown of late capitalism; perhaps that is due to some weakness in our imaginations.” — Frederic Jameson, The Seeds of Time

The stakes facing our generation are much more than they first seem, because our actions might have the potential to bring about a far better world, or cut it short.

The shifting meaning of “capitalism,” and how societies hide their downside with culture.

We’re unclear on what “capitalism” is supposed to be.

  • From the proletarians, nothing is to be feared.
  • Left to themselves, they will continue from generation to generation and from century to century, working, breeding, and dying, not only without any impulse to rebel but without the power of grasping that the world could be other than it is.” — George Orwell, Nineteen Eighty-Four

———————————–

Rather than us asking questions of this world, this world asks questions of us.

We need to listen to the world in new ways and hear the fundamental questions that it askes us.

WITH  CLIMATE CHANGE –  WARS – AI – INEQULITY. –  UNITED NATIONS

ALL AT THIS VERY M0MENT ARE ASKING:  DO WE WISH TO CONTINUE TO EXIST? 

Might it be, then, that we have trouble imagining the end of capitalism because we think capitalism is great, and we’d fear that any alternative would be worse?

It is not we who are permitted to ask about the meaning of life — it is life that asks the questions, directs questions at us… our whole act of being is nothing more than responding to — of being responsible toward — life.

Have we been indoctrinated so that we subscribe to an ideology or a myth of capitalism?

All are questing, just what are our values.

We have an easier time imagining an apocalyptic death of the planet than capitalism being surpassed by a superior economic system, promoting equality.

Do we trust in capitalism on what are effectively theological grounds, so that the specious neoliberal arguments in capitalism’s favour are so many superfluous rationalizations?

Will AI Have a Soul? And does it even matter? Everybody uses the internet, but nobody trusts it.

Even if capitalism is justifiable, it doesn’t follow that those who benefit from that system should be unable even to imagine a better kind of economy.

Neoliberals will say that we can imagine an alternative to capitalism, after all, namely the communist one that failed in the Soviet Union. But that, too, is a red herring since the question is whether we can imagine improvements to capitalism, not worse economies.

Likely, you find your smartphone handy, but that doesn’t mean you can’t imagine improvements to it. You’d prefer to keep your phone, of course, and you may even be addicted to social media. But science fiction is replete with re-imagined technologies. For instance, we could miniaturize smartphones and hardwire them into the brain.

Science doesn’t demonstrate that the quantity of life matters more than its quality, nor can science show which qualities of life should matter more than others.

  •                                                        ——————————-

How do I get people to do what I want them to do?

Unfortunately there are collective forms of self-deception.

Individuals, of course, can prevent themselves from reckoning with unwanted truths, in that they can underestimate obstacles, confabulate, procrastinate, and so on, unable to realize the meaning of the present moment.

“You can get everything in life that you want if you’ll just help enough other people get what they want.”

Give and you will receive.

Maybe there are social mechanisms that operate in an analogous fashion, protecting whole populations by steering them towards the party line. The analogue of the individual ego, or of the conscious self, might be the upper class that dictates mass media narratives, such as by instilling neoliberal values via Ivy League education, as Thomas Frank explains.

Societies have worldviews called “cultures,” along with institutions that enforce their biases.

Once large, sedentary societies emerged in history, so too did mechanisms for managing mass opinion. Religion was one such device, but we can speak more neutrally about “ideologies,” as Karl Marx did, to account for how we may protect capitalism, too, with myths and collective fallacies.

If you’re looking for signs of such capitalist myths, have a look at advertising, at how thousands of misleading slogans and manipulative, hyperbolic messages stream through everyone’s consciousness on a daily basis.

In the boom-and-bust cycle in which government spending alone can stabilize.

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The recent pandemic, natural disasters, wars, all shine a light on the inequality that exist and have existed since time immortal.

If we want a world worth living in and on, we must make profit contribute to PROTECTING  all the essential values of life, not the pockets of the few.

Whether it’s turning promises on climate change into action, rebuilding trust in the financial system, or connecting the world to the internet.

OUR COLLECTIVE RESPONSIBILITY MUST BE TO REPAIRING THE DAMAGE OF CENTURIES OF GREED.

To achieve these objectives we will need to address a host of issues, with more than common sense but with trillions and trillions pumped into removing and protecting before the planet becomes uninhabitable.

_________________________

The Earth’s average land temperature has warmed nearly 1°C in the past 50 years as a result of human activity, global greenhouse gas emissions have grown by nearly 80% since 1970, and atmospheric concentrations of the major greenhouse gases are at their highest level in 800,000 years. We’re already seeing and feeling the impacts of climate change with weather events such as droughts and storms becoming more frequent and intense, and changing rainfall patterns.

By 2050, the world must feed 9 billion people. Yet the demand for food will be 60% greater than it is today. Despite huge gains in global economic output, there is evidence that our current social, political and economic systems are exacerbating inequalities, rather than reducing them. Rising income inequality is the cause of economic and social ills, ranging from low consumption to social and political unrest, and is damaging to our future well-being. More than 61 million jobs have been lost since the start of the global economic crisis in 2008, leaving more than 200 million people unemployed globally.

To function efficiently, the system needs to re-establish trust.

The internet is changing the way we live, work, produce and consume. With such extensive reach, digital technologies cannot help but disrupt many of our existing models of business and government. We are entering the age of the Fourth Industrial Revolution, a technological transformation driven by a ubiquitous and mobile internet. The challenge is to manage this seismic change in a way that promotes the long-term health and stability of the internet. Within the next decade, it is expected that more than a trillion sensors will be connected to the internet.

By 2025, 10% of people are expected to be wearing clothes connected to the internet and the first implantable mobile phone is expected to be sold.

Equality between men and women in all aspects of life, from access to health and education to political power and earning potential, is fundamental to whether and how societies thrive.

The growth of the digital economy, the rise of the service sector and the spread of international production networks have all been game-changers for international trade. Despite fundamental changes in the way business is done across borders, international regulations and agreements have not evolved at the same speed. In addition, negotiations to reach a new global trade agreement have stalled. There is a pressing need to reform the global trade framework.

Investing for the long term is vital for economic growth and social well-being, serious challenges to global health remain.

The number of people on the planet is set to rise to 9.7 billion in 2050 with 2 billion aged over 60. To cope with this huge demographic shift and build a global healthcare system that is fit for the future, the world needs to address these challenges now.

In short, the most pressing problems are those where people can have the greatest impact by working on them.

As we explained in the previous article, this means problems that are not only big, but also neglected and solvable. The more neglected and solvable, the further extra effort will go. And this means they’re not the problems that first come to mind.

First, future generations matter, but they can’t vote, they can’t buy things, and they can’t stand up for their interests. This means our system neglects them. You can see this in the global failure to come to an international agreement to tackle climate change that actually works..

We can’t so easily visualise suffering that will happen in the future. Future generations rely on our goodwill, and even that is hard to muster.

 We all know where the Solutions are to be found – in how wealth is distributed.

We should go beyond the focus on reducing the global poverty rate to below 3% and strive to ensure that all countries and all people can share in the benefits of economic development. Nearly half of the world’s population currently lives in poverty.  2/3 of the population in low-income countries is under 25 years old.

The world is facing multiple converging crises — growing food insecurity, rising fuel prices, economic instability, and the climate crisis — and they are all hitting poor countries the hardest. With 349 million people across 79 countries facing acute food insecurity, this is the worst food crisis in decades. While COVID-19, climate change, and conflict have been major drivers, political action has also fallen short.

Poverty entails more than the lack of income and productive resources to ensure sustainable livelihoods. Its manifestations include hunger and malnutrition, limited access to education and other basic services, social discrimination and exclusion, as well as the lack of participation in decision-making.

And we still wonder why the world we live in is going down the tube.

It is quite obvious that there is no point in been rich without giving – the power to solve some of the most pressing global challenges is not to be found in the words of the United Nations Declaration to end poverty in all its forms everywhere is Goal 1 of the UN’s Sustainable Development Goals.

Why?

Because it has to beg for funds to implement any of its aspirations.

What is needed is a preputial Fund to create a World Aid system with clout.

HERE IS HOW THIS CAN BE ACHIVED.

We now live in a world driven by technology – Apps for this and Apps that – Smartphone – Algorithms running world stock market, plundering everything for the sake of profit.

Why not introduce a World Aid commission algorithm to collect  0.05% on all activities that produce profit for profit sake.

This funding could be delivered by non repayable grants prioritising adaptation re climate change, vetted projects to reduce poverty, food sustainability, environment protection, etc ( Unlike The International Monetary Fund (IMF)  the lender of last resort.

All human comments appreciated. All like clicks and abuse chucked in the bin.

Contact: bobdillon33@gmail.com

THE BEADY EYE SAY’S. IT’S NOW OR NEVER FOR RECALIBRATION OF THE CAPITALIST WORLD WE LIVE IN AND DIE ON.

27 Saturday Aug 2022

Posted by in 2022: The year we need to change., A Constitution for the Earth., Algorithms., Capitalism, Civilization., COVID-19, Cry for help.

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( Six minute read) 

With the current frangible condition of the world the question is, should we be focussing more on local and community resilience rather than trying to address climate change on a world scale. 

Of course it is only natural that all of us look to ourselves but  “The economy comes first,” seems to make less and less sense.

This time is undoubtedly critical, to decide on our definitions of economy or wealth?

What, indeed, is most precious to us?

Covid, of course, may have shifted the landscape, not necessarily of our wants, but of the possibilities available to us, and how we order our list of priorities. 

Taking account of the increased threats to global stability posed by “a nuclear blunder”, aggravated by the gradient of climate change and combine this with technologies that are wreaking the cultural web of civilization, as the loss of biodiversity begins to fracture the web of the biosphere, with consequences that are both wholesale and probably irredeemable. The question must be broader than our “wants” at the personal, or even national level, but must consider “the world” in its full dimension.

Hence, our choices made on the local scale must further consider their impacts more globally not only in a geographical sense, but across the swathe of beliefs and views that different cultures hold as their framework to make sense of existence, to give value and meaning to life, and to decide upon which goals count as being worthy of achieving.

The intermeshing quality of the world’s many woes has been conveyed by the term “changing climate” (i.e. climate change per se being just one item on the list), and amid a morass of such magnitude, positives are apt to remain obscured and muffled.

                                                            ——————–

In the industrialised West, we have become increasingly focussed on money as a goal and the accumulation of personal wealth, and it’s trappings, as our measure of success.

In short, the time is now or never, yet as set against a backdrop of “business as usual”, beyond the confines of human cultures, and considers more broadly our place on this planet, within the context of all life.

Opportunities to address climate change are not merely slipping through our fingers, but wilfully being cast aside.

Thus, the message is not just one of yet another traditional way of life being driven to extinction by climate change, but that because the Earth system is an interconnected and “living” organism, impacts on any component of it will be felt throughout, causing the body to sicken and die.

Change is frightening, and uncertainty even more so; thus we tend to cling to a familiar craft, even as it sinks.

But, if we want a world that is both habitable and agreeable into the future, for all Earthlings, our choices are limited to those which also reduce the conjoined burdens of our rapidly consuming finite resources and the carbon emissions and other pollution that are discharged in the process.

However, due to the tardiness of our efforts, the scale and rate of the changes now required are staggering, amounting to an 8-10% reduction in carbon emissions per year in the wealthiest nations of the world, which presents as a practically insurmountable challenge.

If Capitalism in all its forms usher in a definite of sustained mitigation of carbon emissions, it is highly unlikely that climate targets will be met.

Full collapse is not yet inevitable, or already crumbling out of our hands change might yet be managed.  

Albert Einstein is quoted, perhaps apocryphally, as saying (something like):

“The world we have created is a product of our thinking; it cannot be changed without changing our thinking. If we want to change the world we have to change our thinking…no problem can be solved from the same consciousness that created it. We must learn to see the world anew.”

Is this the world you want.

The perils of treating natural capital as income, are evident to all.

We do not have enough fresh water for the people.. Billions of people are subject to hunger today. So the new model must consider all these needs. This model must be more human and more nature oriented… We are all interconnected but we keep acting as though we are completely autonomous.”

Change requires all of us developed a deeper recognition of our common humanity.

Instead of merely documenting loss of habit, bio-diversity, air and water quality, and more, we have to work with the larger society to do a better job of maintaining invaluable and irreplaceable ecosystem services. 

This can only be achieved by education. Education that balances the sciences with the humanities.

Education that prepares children to live in a changing world by emphasizing critical thinking and learning-to-learn as much more than rote memorization.

(The below video ALUNA should be shown in all schools.)  

Such a world won’t be achieved overnight. 

BECAUSE THE CAPITALIST WORLD IS NOW WITH THE HELP OF ALGORITHIMS GOING UNDERGROUND. 

If there is to be any movement in the right direction we can only make the Capitalists world change its short term model of profit for profit sake with our buying power.  By boycotting any corporations/ companies/ organisations/ etc that dont have sustainability at their core of their business models.  

All human comments appreciated. All like clicks and abuse chucked in the bin.

Contact:  bobdillon33@gmail.com  

 

THE BEADY EYE ASKS. WHAT IN TODAYS WORLD IS THE VALUE OF A HUMAN LIFE?

23 Tuesday Aug 2022

Posted by in 2022: The year we need to change., Algorithms.,  Attention economy, Capitalism, Civilization., Dehumanization., Fourth Industrial Revolution., Human Collective Stupidity., Human Exploration., Inequality, Life., Modern day life., Modern day Slavery, Money in Politics., Our Common Values., Profiteering., State of the world, Technology v Humanity, Telling the truth., The common good., The Obvious., The state of the World., The world to day., THE WORLD YOU LIVE IN., Unanswered Questions., Universal values., VALUES, What is shaping our world., What Needs to change in the World, World Economy.

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( Five minute read)

A profoundly ethical issue.

“What makes a life worth living?” “What is a life worth? ” are both questions that nobody can answer and should perhaps remain unanswered.

These questions once came pre-answered—by culture, by religion, by tradition—but these days, because of capitalism we each have to ask and answer for ourselves, with an answer not in poetic words or any words but an answer in pounds and pence or dollars and cents.

The “real question today is not when human life begins, but, what is the value of human life?”

The task of valuing life has many competing truths with no simple answer.

“Price tags are being continuously placed on our lives. If we care about equity, we need to ensure that the science behind these estimates is not oversold and that fairness is always a consideration when cost-benefit analysis is performed.”

Howard Steven Friedman

Valuing some lives more than others seems logical and natural to many of us.

We value human life in a way that assumes we possess a sacred something.

Aristotle concluded that we should value human life, due to our inherent capacity for reason.

So what reasons can we give for calling human life valuable?

The question’s complexity resides in the fact that how we arrive at a price tag on human life says a great deal about our priorities. A lot of the value we attribute to human life comes from religion. However, when you remove religion, what philosophical arguments are left?

This is were it gets tricky.

The philosopher’s job is not to accept the assumed inheritance of our forebears.

Do we determine the value of a human life based on the value we place on our lives in private decisions, and do we accept policy choices that puts future generations at risk.

Do we continue to value human life, especially above and beyond animals? If you value rationality, why is that? And does rationality, alone, bestow value on a human life?

How should we proceed?

We teach each generation that human life is valuable beyond all else.

.Is this good enough today?

Government officials are supposed to put numbers on the pros and cons of these questions but how to assess the value of a human life in financial terms is riddled with conundrum based on our behaviour which has no common denominators to adjust our assessment of a life’s value based on its quality or the probability of death?

How much should we pay today to prevent an event that would result in the loss of ten billion human lives in 50 years?    Climate Change.

So, how much is a life worth?

It seems so inhumane to put a monetary value our modern sentiments tell us that costs should not dictate life-and-death decisions. But those modern sentiments do not fit our modern experience.

We know that not all lives are valued by society equally.

Over the past four centuries, generations of black people have asked the question: What is a black life worth?

The summation of historical facts and statistical data clearly shows that the prices of black bodies in America are worth more imprisoned, enslaved, and dead than educated.

Here in Europe depending on all sorts of assumptions arisen by the Covid pandemic and now the war in the Ukraine there are a lots of conversations (right now) that seem to pit economics against life and health.

The result is the cost of living is mounting day on day while its value is descending but don’t worry your value is being look after by  the invisible hand of the market  run algorithms is giving your value the finger.

Unfortunately GDP distribution issue are now surfacing, like where is the GDP growth actually coming from?  Who’s losing income?  Does it increase equity in society?

How much a person is willing to accept to risk their own life – Climate change.

In the end the answer is my life is worth everything to me.

How much money do you get for losing a limb? It depends on where you live.

How much body parts worth workers compensation 4

Foot note . What’s wrong with killing people?

Abortion kills babies, and its advocates are loudly telling us the value they place on human life.

The idea is that we can best understand what life is worth by first understanding what death means.

All human comments appreciate. All abuse and like clicks chucked in the bin.

Contact:  bobdillon33@gmail.com

THE BEADY EYE SAYS. WE NEED TO CHANGE OUR WORLD INSTITUTION AND NATIONAL AMBITIONS IN ORDER TO ACHIVE WORTHWHILE MISSION TARGETS.

28 Friday Jan 2022

Posted by in #whatif.com, 2022: The year we need to change., Capitalism, Disconnection., Fourth Industrial Revolution., Green Bonds., How to do it., Inequality, Money in Politics., Post - truth politics., Sustaniability, Telling the truth., The common good., The Obvious., The state of the World., The world to day., THE WORLD YOU LIVE IN., Unanswered Questions., We can leave a legacy worthwhile., What Needs to change in the World, Where's the Global Outrage.

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(Five-minute read) 

THIS POST IS FOR ALL THOSE CHINLESS WONDERS WHO BELIEVE IN PROFIT FOR THEMSELVES. 

It’s no longer good enough to measure the overall wealth of a nation whilst glossing over inequality or consequential environmental degradation.

Why? 

Because it is quite apparent that capitalism is stuck while the longer-term future has been transformed by the pandemic and climate change.

It has no answers to a host of problems, including disease, inequality, the digital divide, and, perhaps most blatantly, the environmental crisis the biggest problems of our time.

Rethinking the role of government nationally and in the international economy is now reaching critical a point – to put public purpose first and solve the problems that matter to people – are now the central questions for humanity.

It is imperative that responding to the climate and nature emergency is integrated across all economic activity, with an explicit commitment to moving to a more circular and resource-efficient economy.

The capacities and role of government within the economy and society,  above all need to recover a sense of public purpose in order to reshape the economic development to invests in people and businesses drive prosperity, and reduce inequality.

Our economic well-being is without any doubt tied to our environmental, cultural, and social well-being.

One can say this till we are blue in the face but the Covid crisis has removed any doubt about the fundamental role of the foundational economy in the well-being of a nation. (This is the part of the economy which could not be shut down as it provides the infrastructure of everyday life)

So investing in social care, childcare, housing, energy, low carbon, and digital connectivity not only addresses the foundational needs of civilized life but can offer meaningful and rewarding careers and be harnessed for economic development.

A holistic approach to the economy, recognizing its potential for harm as well as good, demands a holistic way to measure progress.

None of the above is possible unless we find a way of committing to long-term projects that are both politically and financially sound.  

Our problem is that governments are subjected to short electrical terms in office so long-term objectives are not a priority. While the electoral population pays ever-increasing taxes either to fund a project or rectify a mistake, (without any real commitment to the project in the first place) other than a general election and a new manifesto of verbal diarrhea can deserving projects be fulfilled to completion?

What if we were to introduce legal mission statements that could not be changed till achieved,  ‘magnet projects’ funded not by taxation but by voluntary participation in the form of willing support in allowing citizens to support projects by buying sustainable green bonds with guaranteed returns and Loto style financial monthly prizes.

If we are to genuinely tackle the problems that we have created lets us genuinely participate by putting our money where our mouths are.   

       Too often overlooked in economic development.

You also might be led to believe that monetary activism is financial triage against world economic collapse but ask yourself what kind of political creatures are money printing spawning.

What we are seeing is the economy going online with businesses and organizations in receipt of public funding far from being totally transparent with online profit-seeking algorithms that are now driving a hidden non-paying tax economy. 

The pandemic points forward to realizing that our economic models are not dealing with the growth of inequalities.   

Money must be made to serve the people not the other way around social value 

Imagine a society where everyone can have an equal say in the issues that concern them. Above all, a world, in which all the people own and share the wealth that we need in order to live. These would be enormously exciting times because, at long last, human society will have evolved to the position of being able to tackle effectively the challenges facing the modern world.

So here is your chance to contribute by suggesting your solutions or improving on the above suggestion of Mission Economics.

All human comments are appreciated. All like clicks and abuse chucked in the bin.

 

THE BEADY EYE ASKS: IS THE ENVIORMENT MORE IMPORTAIN THAN THE ECONOMY?

09 Thursday Dec 2021

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(Five-minute read) 

With the continuation of the covid pandemic, this is going to become the big question because the two are intertwined.

If this pandemic drags on, which appears it will do with new variants, the degree of economic harm will become extreme, resulting in a different kind of “ailment” worse than the one we’re supposedly trying to “cure.”

Either way, the current shackling of the economy cannot be allowed to drag on much longer, or we will find ourselves in a full-blown global depression — and then more people will die.

However, if you combine the pandemic with the other major crises Climate Change the Environment wins hands down. 

Why? 

Because in the long run if the environment is not protected it will inevitably lead to the depletion of economic resources and the destruction of the earth and human life. 

In this world, humans are not here for only survival there are many other aspects that are necessary for the lives of humans. The economy is not, and never was intended as, “an end in itself”.

Everything that belonged to humans came from the environment but we can live without an economy, but not without our environment!

We’re all in this together.

There’s just enough truth to that to convince the average citizen — but the more insidious (and, I believe, likely intended) effect is to promote public docility;

To persuade us to go along with any and all directives issued by the authorities.

An economy is good only insofar as it satisfies our needs for freedom to enjoy the actuality of living, not valuing profit over life itself. On the physical level, human lives literally depend on the economy; not only for paying the bills and preparing for retirement but for healthcare itself.

With no economy, there is no point in having a good environment. everything in the history of the world created by humans came from the environment.

A “healthy” economy is an indicator of a “healthy” society. They live side by side.

If the goal of government policy is only “to slow the spread of infections”“

If you think the economy is more important than the environment, try holding your breath while counting your money.” — Guy McPherson.

The cure shouldn’t be worse than the disease. Government handling of any public emergency — if those in power are rational and just — will be balanced with their handling of the economy.

Pope Francis said on Sunday that people are more important than the economy, as countries decide how quickly to reopen their countries from coronavirus lockdowns.

What do you think the economy is? 

It is people but unfortunately, with our present system of capitalist economies, people do not benefit equally from its growth. Essential workers versus the unemployed, shareholders versus self-employed, foodbanks versus dialing a meal, the list is endless however without humans, how can we hope to repair anything?

To remove these inequalities is impossible but an economy based on universal basic income for all would allow people to look after themselves rather than state handouts.

Providing inflation was controlled it would go a long way to leveling up. 

Instead, the possibility of dictatorial governments using technology data is now on the cards. This fear is exacerbated by the average person’s lack of reflection on just what “the economy” is, and what it means to both individual freedom and the public good.

History has shown us we shouldn’t underestimate the threat to our liberty arising from the government’s response to Covid. There’s no reason to assume that after the pandemic — if there is an “after” — all democratic governments will voluntarily relinquish their newly acquired power.

Sure the government’s first obligation is to ensure people can survive both Climate change and the virus but without the means to change the way we live our lives it will be meanless.  

So it’s time for the media to make the cost of human life better understood.

It’s time for the advertising industry to stop promoting consumption for profit. 

It’s time to regulate Profit for-profit technology such as non-transparent Algorithms. 

Either we are really all in this together or we are not.

Of course, together will remain only words till we address the weakness which is at the heart of any nation-state project ( Like the current Vaccination program)

The vast majority are unable to participate because of a lack of compensation, by the capacity ( notably economic) of the capitalist system to ensure that everybody enjoys certain equality of access to material well-being. A Basis Universal income would rectify that.      

Modern societies can easily get by without cultural integration, tolerating a situation of competitive pluralism of values without automatically sinking into anarchy feared by the sociological tradition of inequality, if given the means to do so.  

All human comments are appreciated. All like clicks and abuse are chucked in the bin.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THE BEADY EYE SAYS. ITS IS NOT CLIMATE CHANGE OR COVID THAT IS THE PROBLEM. IT IS AS SHOWN BY COP26/G20 THE UNFFETTED PERSUIT OF ECONOMIC GROWTH AND PROFIT .

16 Tuesday Nov 2021

Posted by in 2021. The year for change., A Constitution for the Earth., Capitalism

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(Two-minute read) 


COP26/G20 ARE NOW BOTH PERFECT MODELS OF OUR COLLECTIVE FAILURE TO BUILD INSTITUTIONS CAPABLE OF COPING WITH, DEEP LONG-TERM. EXISTENTIAL PROBLEMS CAN NOT BE SOLVED BY EITHER GOING TO WAR OR RELYING ON FUTURE TECHNOLOGIES.

Now we find that the entire globe is trapped in the gruesome logic of Capitalism.

It’s perfectly OK for rich countries to continue doing something that is destroying the planet as long as the profit reaped will allow them to insulate themselves from the consequences.

We, that is all of us homo sapiens rose above the lesser animals thanks to our ability to wield logic and reason, yet we have managed to get ourselves to a place where the knowledge of what is driving all of the wildfires, floods, droughts, and disasters is not enough to enable us to do anything meaningful to stop it.

Of course, we need a price on carbon. Of course, we need extremely strict emissions regulations, massive green energy investments, and a maniacal focus on sustainability fierce enough to radically change a society that is built to promote unlimited consumption.

Capitalism is a machine made to squeeze every last cent out of this planet until there is nothing left.

We can either fool ourselves about that until it kills us, or we can change it.

All human comments are appreciated. All like clicks and abuse chucked in the bin.

 

THE BEADY EYE ASKS. WILL THE WORLD OF TECHNOLOGY GET RID OF INEQUALITY.

29 Friday Oct 2021

Posted by in 2021. The year for change., Afghan War., Algorithms., Artificial Intelligence., Capitalism, Climate Change Summit Scotland 2021, Climate Change., Environment, Green Energy., Human values., Humanity., Inequality., Our Common Values., Post-Covid-19, Technology v Humanity, Technology., The common good., The essence of our humanity., The Obvious., The pursuit of profit., The state of the World., The world to day., Trade Agreements., Unanswered Questions., We can leave a legacy worthwhile., Wealth., What Needs to change in the World, Where's the Global Outrage., WORLD POVERTY WHERE'S THE GLOBAL OUTRAGE

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(Thirteen-minute read)

With or without technology there will always be inequalities in the world.

So why do we keep trying to solve poverty with technology?

Because this way of thinking is so ingrained that is adopted by organizations that fight poverty—which often refashion themselves to resemble technology startups.

Inequality has been growing so much that all governments and civil society speak about it with increasing worry, trying to understand its causes, but unable to find solutions, because of greed. 

It is our policy on technology that drives inequality.

There is no better example of this than in the way the world is handling the current Covid pandemic unable to share the know-how to make the vaccinations. 

Patents and copyrights are not guaranteed as individual rights, like the right to free speech or religion.

After all, why would a drug company pay large amounts of money to people to develop new drugs if the drugs can be copied and sold by competitors from the day they enter the market?

If it is not already obvious, patent and copyright monopolies are instruments of public policy, not acts of God.

This is why there is still not enough coronavirus vaccine to meet worldwide demand.

A year ago there was no commercial market for mRNA products.

Vaccine manufacturers long ago should have been sharing technology and expertise to boost production in the U.S. and Europe, and especially in developing countries. 

The same would be true of software developers, makers of medical equipment, computer manufacturers, smartphone companies, and any other product where the cost of research and development was a substantial portion of the price of the product.

The complete elimination of patents and copyrights is of course an extreme scenario, but it is a possible policy option.

If we did choose this policy option, we would have a much more equal distribution of income, in spite of having the same technology.

In short, the fact that there was a huge increase in inequality associated with the development of technology over the last four decades was the result of policy choices, not technology.

There should be serious public debate about both how strong we want to patent and copyright protection to be and also whether they are always the best way to promote innovation and creative work, as opposed to alternatives like direct public funding.

If we acknowledge the extreme case, where we literally have no patent or copyright protection, then we have to recognize that there is nothing inherent in our technology that would cause inequality.

Few things, in principle, can’t be delivered through technology.

It is entirely our rules on technology that can cause inequality to increase.How Technology Ends Inequality

So on one hand, technology can eradicate poverty — not by making poor people less poor, but by making it less valuable to be rich.

On the other as technology spreads, making its creators rich, but treating its users the same, we should expect more monopolies and more financial inequality.

Although it is your data you can’t pay for a better Facebook experience.

Companies are incentivized to offer a product if it makes more than it costs. And technology ends up not costing much once you’ve built it.

So, in the end, you charge people whatever they can pay and in poorer countries, people just pay and get paid less.

Times are changing from the days that growth in inequality was largely an organic process independent of government policy.  

“Owning” the robot/algorithm is not a technical relationship, it is a legal one, and therefore one that depends on our laws.

The reason some people might get very rich from owning robots or algorithms is that they own patents and copyrights that are needed for the making of the robots/ algorithms.  

                                         __________________

In the past, technological improvements would be beneficial to all:

Extreme economic inequality is corrosive to our societies.

Around 8% of the world’s population lives in extreme poverty — but do you know why?

Gender inequality, caste systems, marginalization based on race or tribal affiliations are all economic and social inequalities that mean the same thing:

You might think that poverty causes hunger (and you would be right!), but hunger is also a cause — and maintainer — of poverty. This is why now with climate change, negotiating international trade agreements behind closed doors with only bureaucrats and corporate lobbyists present has to end.

Economics should take into account ethics and the environment, and treat its claims less like invariable truths.

It goes without saying that any actions coming out of Cop 26 climate change conferences to reduce temperatures will be derailed by not just income inequality, (only the higher income household will be able to afford green energy technologies. Solar panels, electric cars, heating pumps, etc.) but by the total lack of shared responsibility to do anything about it.   

Of course, there are hundreds of other elements that contribute to the problems our world is now facing. 

World poverty isn’t a problem of limited resources, it is a problem of inequality and this inequality is upheld by the idea that aid creates dependence.

Climate change will drive up to 132 million more people into extreme poverty by 2030.

The pricing carbon emissions on average is at a mere $3 a tonne.

The price of inequality in all its forms is greed. There are vast fortunes to be made with Technology/ Algorithms for profit and nothing blurs ethical lines faster than greed. 

So far, any decoupling has either been largely relative – in the sense of merely achieving higher rates of economic growth than gains in emissions – or achieved by shifting dirty production from one national territory to another.

And that is why, for now, global emissions are still rising.

The idea of “Just Transition” without financing is pie in the sky. 

Take the aftermath of the Afghan 20-year war.

The country is now facing starvation. Why not bomb it with food.   

By coming together to tackle the plague of destitution around the world, we have the opportunity to advance the human condition and eliminate global poverty in a way no one has done before.

All human comments are appreciated. All like clicks and abuse chucked in the bin.

 

THE BEADY EYE SAYS. THE CLIMATE CRISES IS NO LONGER A LOOMING THREAT IT IS ARTFICAL INTELLIGENCE.

29 Saturday May 2021

Posted by in #whatif.com, 2021. The year for change., Algorithms., Artificial Intelligence., Capitalism, Climate Change Summit Scotland 2021, Dehumanization., Digital age., Enegery, Environment, Fourth Industrial Revolution., Green Energy., How to do it., HUMAN INTELLIGENCE, Human values., Humanity., Modern Day Communication., Modern day life., Post - truth politics., POST COVID-19., Purchasing Power., Reality., Renewable Energy., Sustaniability, Technology v Humanity, The common good., The essence of our humanity., The Future, The Obvious., The pursuit of profit., The state of the World., The world to day., THE WORLD YOU LIVE IN., THIS IS THE STATE OF THE WORLD.  , VALUES, We can leave a legacy worthwhile., What Needs to change in the World, Where's the Global Outrage.

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(Eight-minute read) 

We live in an age in which intersecting crises are being lifted to a global scale, with unseen levels of inequality, environmental degradation, and climate destabilization, as well as new surges in populism, conflict, economic uncertainty, and mounting public health threats.

All are crises that are slowly tipping the balance, questioning our business-as-usual economic model of the past decades, and requiring us to rethink our next steps.

In the next few months, we will once again witness a gathering of verbal diarrhea in Scotland all promising to go green.

There is no doubting in the last few decades that we humans have achieved advances away beyond what our ancestors would have believed possible. The irony is that to survive we have to become something very different from what we are. 

Many optimists believe that technology can transform society and solve climate change.

To a great extent, this is probably true no more so than in the field of medician. 

Take the discovery by Alexander Fleming in 1928 of Penicillin.

Before its discovery, we were dying thirty years early than we do today. 

His discovery was down to an accidental piece of bacteria landing on one of his Petri dishes which took another ten years to develop into a drug to save lives. 

Today with human intelligence and machine learning we can produce drugs in a matter of months.     

The way forward to reducing CO2 emissions is not a by-pass lane it is by using the technologies that already exist.  

It’s time to cut out the verbal and bull shit and make these technologies affordable to all. 

Yes, the world today is in a dire state and a new kind of social and ecological environment needs to be created with green energy the price of which is toppling daily.

Comparing global problems involves lots of uncertainty and difficult judgment calls, but every problem is solvable if we devote resources to building a just world and not guns.

THE WORLD RUNS ON ELECTRICITY.  

SO IF WE WANT A GREEN FUTURE NON-REPAYABLE GRANTS TO CONVERT FROM FOSSIL FUELS GENERATED ELECTRIC TO ENERGY BY NON-POLLUTING RENEWABLE MATERIALS – WIND – SUN- WATER-  GEOTHERMAL – HYDROGEN. 

SUCH A MOVE WOULD CREATE MILLIONS OF JOBS AND COULD BE FUNDED BY PLACING A WORLD AID COMMISSION OF 0.05% ON ALL ACTIVITIES THAT HAVE PROFIT FOR-PROFIT SAKE AT THEIR HEART. ( See previous posts) 

                                  _______________________ 

 

We are now presented with two very different futures. 

The last generation that can stop devastating climate change. We have the knowledge and the tools – we just need politicians to lead the way.

or

We fail to meet climate mitigation goals.

For certain, either outcome will not be easy or cheap and it is happing faster than we wish to acknowledge.  

The problem is the two outcomes are profoundly interlocked with lots of uncertainty.

HOWEVER, UNLIKE THE CURRENT PANDEMIC CLIMATE CHANGE WON’T JUST DISAPPEAR IT WILL REQUIRE A NEW MEANING OF LIFE.

To recognize that we are entering a new world with opportunities and perspectives is an enormous challenge not because of climate change but because of the current inequalities existing on the Planet.

The choice we are now confronted with is one we will have to make over and over again as we transition to a more resilient, zero-carbon, just, and healthier future.

The question is who is going to pay for the transition.  

New transformative technologies may promise a radically better future but also pose catastrophic risks.

THERE IS LITTLE POINT IN REDUCING GLOBAL TEMPERATURES IF BY THE TIME IT HAS STABILIZED HALF OF THE WORLDS POPULATION HAS BEEN DESTABILIZED OR DISPLACED.

A lack of global emphasis on foreign aid, conflict, and political factors have kept poverty as a driving factor of Inequality.

To adjust to the coming new kind of social and ecological environment, how do we frame either of the above outcomes constructively.

We will have to relearn the world to do so. 

We have to become more aware of the future of our planet and our future and the legacy of the human species to start a serious battle to make up for the damages.

At the moment it is difficult to know the changes in the ecosystems that surround us not to mention the social uncertainty to come.

The fundamental economic problem is related to the issue of scarcity.

Society is mostly dominated by people wishing to consume more goods and services that are available.

One in nine people in the world go hungry each day and suffer from nutritional deficiencies as a result.

Currently, 1 in 9 people lack access to clean water across the world.

The problem is not that we aren’t producing enough food, but rather that people lack access to food. Many people do not have enough money to purchase food and cannot grow their own.

To try to work out which global problems are most pressing and make progress on foundational questions about how best to address them is impossible unless we address the fundamental problem.

To recognize that scarcity will drive almost everything. 

To recognize a sense of shared humanity. 

To recognize that approximately 600 million children are not mastering basic mathematics and literacy while at school.

To recognize that is not just climate change that treating the world but artificial intelligence and the way we are using it.

Using only the interaction of its embedded sensors, computer programming, and algorithms in the human environment and ecosystem — is becoming a reality that cannot be ignored anymore.

Because building autonomous weapons systems are one thing but using them in algorithmic warfare with other nations and against other humans is another.

They will in no uncertain terms alter the very fundamentals of security and the future of humanity and peace.

As global temperatures continue to rise, technology improves and the world economy grows, it gets easier to cause destruction on an ever-larger scale with the weaponizing of artificial intelligence both military-wise and as a social tool. 

The Weaponization Of Artificial Intelligence

The development of autonomous weapons system (AWS) is progressing rapidly, and this increase in the weaponization of artificial intelligence seems to have become a highly destabilizing development. It brings complex security challenges for not only each nation’s decision-makers but also for the future of humanity.

There are always unforeseen consequences when new technology is introduced. Those unintended outcomes of artificial intelligence will likely challenge us all.

 AI algorithms must be built to align with the overarching goals of humans.

As more and more data is collected about every single minute of every person’s day, our privacy gets compromised.

Look at what is happing in China with its social credit system, it could devolve into social oppression.

Unless you choose to live remotely and never plan to interact with the modern world, your life will be significantly impacted by artificial intelligence.

The transformative impact of artificial intelligence on our society will have far-reaching economic, legal, political, and regulatory implications that we need to be discussing and preparing for.

Sure, it can transform our lives for the better.

In fact, people have gotten used to depending on AI for almost everything and can’t imagine not having these technological advancements as part of their life. Because many processes and applications are getting automated, people are getting addicted to these kinds of inventions which can be an issue for future generations to come.

Societies will face further challenges in directing and investing in technologies that benefit humanity instead of destroying it or intruding on basic human rights of privacy and freedom of access to information.

  • In the future, predictive analytics and artificial intelligence will play an even more fundamental role in content creation that will affect our wallets, health, safety, and lives.

The mistake we are making is to think that this situation is the only future. 

That it is impossible to regulate AI because of the rate of AI change entails. 

This is not true as it is possible to Audit all AI technology and algorithms to ensure that comply with human values and to make their programs totally transparent. 

Why is the above urgent?

Because combined with climate change we are faced with and a transactional wealth of a new currency of unknowable value called personal data inequality will ravage the planet we all live in and on.    

These are not some science fiction movie scenarios the current Pandemic is revealing a much more tragic and fragile world that requires more than trust. 

The United Nations (UN) currently lists 22 “Global Issues”. 

These correspond with the most important issues of our time and are known as the United Nations Sustainable Development Goals (UN SDGs).

Here is a few of them. 

FOOD SECURITY.

HEALTH ISSUES.

EDUCATION.

GENDER EQUALITY.

AFRICA.

ENVIRONMENTAL ISSUES/ POLLUTION. 

OCEAN CONSERVATION.

WATER SCARCITY.

GLOBAL ISSUES THAT REQUIRE POLICY SOLUTIONS.

This is not intended to be an exhaustive list. Rather, it serves as an overview of some of the major issues all global citizens should be aware of.

Artificial intelligence is not on the list. 

Because the biggest challenge facing the planet needs every solution possible including technology like artificial intelligence (AI). 

But AI is not a silver bullet it can only unlock new insights, pinpointing those responsible for it.

The current environmental issues pose so many problems to industry and society that not enough action has been taken to stop turning Climate change into a product. 

My goal in this blog is not to convince people climate change is real, or that AI is destroying society it’s to get people who do believe that climate change is real and that Algorithms for profit’s sake are plundering the world to do more to affect change.

What can be done by any of us against the might of Capitalism that will have any effect? 

There is only one weapon available to us all and that is our buying power.  

 If we use our collective buying power you will then see not just governments but global corporations change their tune from profit to sustainability.     

We decide whether we want to look at the world in one way or another, always making tradeoffs.

As Harvey Sacks observed.

” If only we introduced some fantastic new communication machine the world will be transformed” 

” But the best and brightest devices must be accommodated within existing practices and assumptions in a world that has whatever organization it already has”  

All are under threat because all are happening at what scientists estimate to be about 1,000 times the normal pace and are yet to be quantified.

All human comments are appreciated. All like clicks and abuse chucked in the bin.

 

 

THE BEADY EYE ASKS: ARE WE RIGHT TO BE TALKING ABOUT GOING BACK TO NORMAL OR ARE WE JUST FOOLING OURSELVES.

26 Friday Mar 2021

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( Twenty-minute read) 


Apart from the tragic human consequences of the COVID-19 epidemic, it’s impossible to measure the price of A GLOBAL DEPRESSION OR THE COMING CLIMATE CHANGE, NOT TO MENTION THE SURGING INEQUALITY DRIVEN BY AI.

But rest assured that it will be the young generation that will be saddled with the bill and the consequences and few countries are likely to be left unscathed by the covid -19 outbreak’s financial ramifications.

We have conveniently forgotten if you remember before the pandemic we had a financial meltdown in 2008.

Ireland, Portugal, Spain, Italy, economies were all operating on borrowed money with all of them amassing debts away beyond their annual tax revenues to the point that their budgets were consumed entirely by interest payments.

Greece was on the verge of causing the Euro to collapse while England was in the grips of an austerity program that resulted in Brexit the cost of which has no definitive figure. 

90% of this was big banks creating debts world-wise in the knowledge that they would have to be bailed out by the taxpayers. (Too big to fail is a phrase used to describe a company that’s so entwined in the global economy that its failure would be catastrophic.)

While Wall Street hedge funds, with credit default swaps and sovereignty wealth funds, we’re making hay while the sun-shined, world debts were doubling. 

Take Iceland for example. German banks pumped $21 into its banks, Sweden $400 million, England around $30billion, the Netherlands $300 million, Oxford University a mere $50 million. Iceland’s banks went bankrupt. The government couldn’t bail them out because it didn’t have the money. Instead of being too big to fail, they were too big to save. Iceland never resorted to austere budget cuts that are so prevalent in Europe.

They imposed capital controls. They let the banks fail.

Iceland’s economy successfully survived a sovereign bankruptcy and government collapse.

However, Iceland’s government today is spending a back-breaking 17.3% of its tax revenue just to pay interest on the debt.

Without a doubt, Iceland was and is the canary in the coalmine for the sovereign debt crisis that is now unfolding across the world right now.

With investors around the world suddenly wake up to a sobering reality of a major default… bigger than Iceland in 2008. It won’t be long before we see countries defaulting because of the amount of government borrowing to fight Covid-19 

So what happens when governments themselves ceased to be credible? 

This might be something that had been considered preposterous only months ago but when one looks at what is only the start of a global depression it is now very much on the cards.

It’s important to remember that throughout history humanity has experienced no shortage of pandemics and deadly viruses but despite the similarities, of these pandemics some of the differences are now even more striking.

The economic fallout from these pandemics was barely noticeable. (The same can be said of the Spanish Flu of 1918.)

What is making the COVID-19 pandemic so unique is not the virus itself, but our collective response to it. Governments in their zeal to control society, have destroyed the global economy on a scale the modern world has never seen. These losses are unprecedented in modern history. The loss of human life that can never be recovered is regrettable but there’s a degree of anxiety now that’s well beyond the health scares which are still very serious and concerning.

If we take a look for example at the USA.

Its economic loss is more than twice the total monetary outlay for all the wars the US has fought since September 11, 2001, including those in Afghanistan, Iraq, and Syria.

Closer to home. 

Millions out of work, industries losing billions, and that’s just the beginning. Transportation companies losing billions in market value with tourism the restaurant and foodservice industry decimated with real estate defaults looming.

Further afield the so-called least Developed Countries, whose economies are driven by the sale of raw materials, will not be spared either. Latin American region as similarly vulnerable.

In addition to global poverty, the pandemic has adversely affected vaccination rates, HIV transmission, gender equality, education, and more. Unfortunately, these problems won’t be reversed overnight—or anytime soon.

When will things go back to normal?

Never.  

Our society is fundamentally flawed, with a devastating financial storm more than likely on its way we cannot simply hit the reset button and go back to normal.

As we go about rebuilding our society for a new day, it is absolutely critical that we focus our efforts on healing the wounds of the people who suffered most.

We all know that the distribution of wealth is key to any recovery and we are going to witness in this pandemic and subsequent economic depression how inequality is the main cause s of why our world is in such a mess. 

So if we want a world worth living in we must address the distribution of wealth along with education.

( The Solution.

Embedding equity and empathy into our cultures by reimagining schools and the introduction of a Universal Basis Living Wage. 

Rather than preparation education (to enter a world of I am all right Jack ) we should be promoting core values education.

This education should be free to all paid for by the state. Not designed by wealthy white men paying the minimum wage, awarding themselves dividends, launching profit-seeking algorithms, running plundering sovereignty wealth funds, leaving the young generation with massive debt.

After two decades of progress around the world, nearly 37 million people have lost significant amounts of income and are now living on less than $1.90 per day. 

There is little point in governments spending billions on projects that enrich the few while their citizens have to resort to food banks, social welfare, etc. 

While Countries’ debts are ballooning exponentially, due in part to combating Covid-19, the fourth industrial revolution in the form of Technology is eroding the opportunities of earning a living or sharing in the profits of automation, machine learning, etc. 

It is not possible to stop the erosion but it is possible to share the wealth in a fair and meaningful way with a guaranteed income that would cut government costs while stimulating economic recovery. 

By scrapping the concept of the welfare state a form of structural inequality and replace it with a government-guaranteed payment to provide financial security

Cash is the best thing you can do to improve health outcomes, education outcomes and lift people out of poverty.  

It would stop people from emigrating not just to other countries but to cities.

The social welfare state is what prevents the poor from building their wealth to better their lives.

How could it be financed?  

Place a 0.05% aid commission on revenue made by profit-seeking algorithms and tax the top 1% and allocate 10 to 12% of GDP directly to the universal income payments.

The benefit would automatically rise with national prosperity and inflation.

The simplicity of the program means it would also cost governments less.

It is inevitable. If we don’t we will rebuild an exclusionary society.) 

                                                ————–

Germany, Spain, the U.K., and the U.S. are all in the top 10 spenders, all conjure money out of thin air and funnels it to the government.

There will be inquiries.  How long of a sentence does someone get for railroading his nation’s economy? Life? 30-years? 10-years?

Where should we begin to rebuild our lives?

There are a number of possible futures however if we don’t take this opportunity to build a future that is more humane we will slide into something far worse.

The responses so far to the pandemic are simply the amplification of the dynamic that drives other social and ecological crises.

The overriding priority remains to save lives.

However, understanding human behavior in its wider economic context is necessary if we are to solve climate change or if we are to tackle future pandemics problems all created by our economic structure.

Both are socially driven. 

With every week that passes, we learn more about the virus and understand more about how to defeat it. But the more we learn, the more we realize how little the world yet understands about the true nature of the threat – except that it is a shared one that we must all work together to defeat. 

Now is the time to teach the student of society a lesson of humility which should guard him against becoming an accomplice in men’s fatal striving to control society – a striving which makes him not only a tyrant over his fellows but which may well make him the destroyer of a civilization…

The world is “not at the mercy of the virus called covid, but the fuse is burning on the bomb – Climate Change. 

It is at the mercy of Profit for profit’s sake that must be harnessed to affect change.

(See previous posts) 

At the end of the day, the Icelandic people are responsible back in 2008 for their collapse. They were never bailed out. They were stuck with the bill.

It does not take a genius to describe the changes that are needed.   

 

All human comments appreciated. All like clicks and abuse chucked in the bin.