Attributions of causality
Steve Randy Waldman
China's 13th Five-Year Plan reflects its ability to embrace the new industrial revolution and its growth philosophy will help it play a leading role in the process, World Economic Forum founder and executive chair Klaus Schwab said Saturday. [Special coverage]
The Fourth Industrial Revolution is not science fiction -- we are already in the midst of it, he told Xinhua in an exclusive interview ahead of the upcoming Annual Meeting of the New Champions 2016, also known as the Summer Davos Forum.
"It will not only change what we are doing and how we communicate, but the whole of society and our identity," he said.
More than half of the Chinese population are prepared for the Fourth Industrial Revolution and the 13th Five-Year Plan reflects this ability, he added. The blueprint, released last year, outlines China's development path for the next five years, with growth driven by innovation, coordination, green development, opening up and sharing.
Schwab expects the five principles to be beneficial to China's future economic growth, and among them, innovation is the most important principle to the progress of the Fourth Industrial Revolution.
The new wave of technological developments will not only bring opportunities such as increased productivity, but might widen the gap between the rich and the poor due to exposure to the latest tools, he pointed out.
Therefore, sharing is important. Governments should ensure the benefits of new technology are shared domestically and globally, he said.
There might be some layoffs due to technology such as robotics. The process will be a kind of destructive creation, with old jobs reduced and new jobs created. The challenges lies in the different speeds of the two process, he said, adding that the government and business communities should ensure people are retrained and new jobs created.
Building a green economy should be the goal of all efforts, and that will take coordination and synergy between governments and the business community. More than that, there needs to be more networking, not only within a country, but also on a global scale, thus, underscoring the need to continue to open up, Schwab said.
China is one of the largest markets for robots and is supplying the world in many other technological areas, said Schwab, who was impressed with the flexibility and reliability of the latest drone product developed by the Shenzhen-based technology firm DJI, a leading manufacturer of commercial and recreational drones for aerial photography and videography.
"I think China can play a leading role in shaping the Fourth Industrial Revolution," he said.
Meanwhile, as China is part of the global economy, it should facilitate global dialogue and cooperation to manage development within a fair environment, Schwab added.
Klaus Schwab is German engineer and economist, best known as the founder and executive chairman of the World Economic Forum. His wife and former secretary, Hilde, co-founded the Schwab Foundation for Social Entrepreneurship. — WikipediaAlso
The first of the achievements is that the SCO has advocated and put into practice the pioneering Shanghai Spirit, which features mutual trust, mutual benefit, equality, consultation, respect for diverse civilizations and pursuit of common development, said the Chinese president.
For those of us outside the United Kingdom, the "Leave" victory in the referendum is not enough to cause worries about the real economy. We have entered the thin summer market period, so some form of financial turbulence is likely, but until some defaults occur it is not going to matter for non-levered investors. For the U.K., the most likely outcome is going to be an extremely long period of technical negotiations, which will eventually be pushed out of the news cycle by news about the Royal Family and football.Bond Economics
On June 24, foreign oil company TransCanada filed a lawsuit against the U.S. under NAFTA, the North American Free Trade Agreement, arguing that the U.S. rejection of the Keystone XL pipeline violated NAFTA’s broad rights for foreign investors by thwarting the company’s “expectations.” As compensation, TransCanada is demanding more than $15 billion from U.S. taxpayers.
TransCanada’s case will be heard in a private tribunal of three lawyers who are not accountable to any domestic legal system, thanks to NAFTA’s “investor-state” system, which is also included in the proposed Trans-Pacific Partnership (TPP). The controversial TPP would empower thousands of additional corporations, including major polluters, to follow TransCanada’s example and use this private tribunal system to challenge U.S. climate and environmental policies.…
Summary: Great Britain’s decision to leave the EU presages a global financial meltdown that could resemble the 1930s. Banks will demand massive bailouts. We will be forced, if the banks are bailed out again, to endure harsher austerity and a prolonged depression.Michale Hudson
Michael Hudson argues that military interventions in the Middle East created refugee streams to Europe that were in turn used by the anti-immigrant right to stir up xenophobia.Actually, Michael Hudson sees much more than immigration at work. But immigration was probably the final straw.
Europe is sort of like the Soviet Union in the 30s and 40s. There was an argument, is it reformable or not? There is a feeling, and I think its correct, that the European Union, the eurozone, and the euro, is not reformable, as a result of the Lisbon treaties and the other treaties that have created the euro. Europe has to be taken apart in order to be put together not on a right-wing, neoliberal basis, but on a more social basis.
Now, ironically, the parties who call themselves socialists are now moved to the ultra-right, to the neoliberal. The French socialists, the German social democrats. But youre having real radical parties arise in Italy, Spain, Portugal, and potentially in Greece, again, that are going to say, well, the key of any government, of any national government, has to be the ability to issue our own money, to run a deficit, spending into the economy to make the economy recover. We cannot recover under the Lisbon agreements, under the eurozone, where the central bank will only create money to give to banks, not money to spend into the economy, to actually finance new investment and new employment. And we cannot be part of a eurozone that insists that pensions have to be cut back in order to make the banks whole and save the one percent losing money.…The Real News Network
The majority vote by Britons to leave the European Union was an act of raw democracy. Millions of ordinary people refused to be bullied, intimidated and dismissed with open contempt by their presumed betters in the major parties, the leaders of the business and banking oligarchy and the media.
This was, in great part, a vote by those angered and demoralised by the sheer arrogance of the apologists for the "remain" campaign and the dismemberment of a socially just civil life in Britain.…
When you think of economic issues what are the first things that come to mind? Poverty, inequality, unemployment, inflation, and crisis are all common answers to the question. Wouldn’t it be great if there was a policy that could address all of those issues (and more) in a cost-effective manner? In this piece I will give a very brief introduction to Job Guarantee (JG) schemes, the proverbial economic silver bullet.…The Minskys — an economics blog created by graduate students from the Levy Economics Institute
The European Union has sowed the wind. It may reap the whirlwind. Unless it moves, and quickly, not merely to assert a hollow “unity” but to deliver a democratic, accountable, and realistic New Deal – or something very much like it – for all Europeans.Diem25
… the EU, at least as it has become over the last decade, is best understood as a cabal of three governments, primarily those of the US and Germany, with France treated by the Germans (though not by the US) as a sort of junior partner, which make the decisions in secret that are binding on all the rest.
I appreciate that this description of the EU will meet with strong objections in some quarters, especially as by far the most powerful of these governments is that of the US which is not a member of the EU. However what I say is well known by all the relevant insiders. Indeed the facts speak for themselves and are hardly even concealed. On key issues EU policy is nowadays decided in private bilateral discussions between the US and the Germans, often involving the US President and the German Chancellor, with the Germans then telling the other Europeans what they should do.…
The tactics of employing non-governmental organizations (NGOs) for the preparation of so-called “color revolutions” in North Africa, the Middle East and a number of former Soviet states has been the modus operandi of the US and its satellites, which have been thoroughly discussed in various NEO articles.
It’s curious that these NGOs who are heavily sponsored by Washington choose to act precisely in those moments when a specific state begins resisting pressure applied on it by the so-called Western World. This resistance often is manifested as a reluctance to support certain projects that were put forward by Washington.
If we are to talk about post-Soviet regions, all Western NGOs, and American ones in particular, have been particularly active in Central Asian and Caucasus states over recent years in a bid to launch “color revolutions” across the majority of them.
Western NGOs have been particularly active in Armenia recently, which remains Russia’s most faithful ally in the Caucasus region. In an effort to repeat a Ukrainian-style scenario in Armenia and to force this country away from Russia, these Western-backed organizations have been trying to use any minor concern among the civilian population to provoke demonstrations and unrest, taking advantage of the huge funds they have been receiving.…It's called subversion and it is a hostile act. That's why it is called hybrid warfare.
We claimed that BREXIT - is not gonna happen and pointed to a propaganda campaign (see further examples in the comments there) launched to reverse the Brexit votes. Within that campaign two memes get pushed:…Moon of Alabama
Supporting the idea of a Brexit in the UK referendum became an information bomb for Petro Poroshenko, who came to power under the slogan of Ukraine joining the EU. London was seen as one the main lobbyists of Ukrainian interests in the EU. Another lobbyist, Poland, is not such a powerful foreign policy player as the UK. Another reason for the frustration is the blow struck to the attractiveness of the European Union. Until now, European countries have sought to enter the Union and not come back. Therefore, the decision of the British people expressed in the referendum is perhaps the strongest foreign policy defeat of the Poroshenko regime.In denial.
The aim of the information policy of the Ukrainian authorities is to turn defeat and failure into victory and success. In this case, representatives of the Ukrainian authorities tried to convince the citizens that nothing bad had happened. The first to speak on this subject was President Poroshenko on his Facebook page: "I believe that, despite the results of the referendum, the UK remains in the European Union and will defend common European values." Attempts to justify it were very awkward. Poroshenko, in fact, urged all to ignore the outcome of the referendum — such were the meaning of his statement. For democratic politics, especially the leader of a European country, the call to ignore the results of a referendum is just blasphemous. Speaker of the Verkhovna Rada Paruby similarly, but more cautiously, expressed this. He said that the UK will remain a key partner of Ukraine, despite the results of the referendum on a withdrawal from the EU. Probably Paruby considered Poroshenko's actions to be a blunder and did not call to ignore the outcome of the referendum.…
You might think that the old King should be replaced by no King. After all, the metaphor of the invisible hand did not loom very large in Smith’s thought; why should it loom large in ours? It turns out, however, that a robust concept of the invisible hand does emerge from evolutionary and complexity theory, so there is a new King to coronate.Replacing the mechanical model in econ with an organic model.
Secret negotiations have been under way for some time between high German and Russian officials, to which Chancellor Angela Merkel has been excluded. Warned by US Assistant Secretary of State Victoria Nuland, and in a recent coded communication from outgoing President Barack Obama that she must act to save her authority, and enforce European Union sanctions against Russia, Merkel has also received an ultimatum from her cabinet and party. This was delivered in the form of a page torn out of an Old German bible in which a large black spot had been inked. Either she step aside in secret, Merkel understood the signal, or she will be forced to resign in public.Hilarious. This is based on leaks, but Helmer is well-positioned in this regard. If true, the house of cards is collapsing unless the US tightens down the screws. But the outcome of US screw tightening would be uncertain, it seems.
For more details of the meaning of the Black Spot, read this.
How can we redesign money— and our mind-set—for a mature economy or an ecological civilization?…
Perhaps the defining issue of our age is that the human economy has grown to a scale where it impacts the environment at every level: on land, in the oceans, and in the air. As Kenneth Boulding put it, we are transitioning from a cowboy economy, where the world is an open frontier, to a spaceman economy, where we are restrained by natural limits.
This transition, ecologist Eugene Odum argued, resembles that followed by ecosystems as they become established. At the early stages of an ecosystem’s development, available energy (whose ultimate source is the sun) is rapidly exploited by a few species in a sudden bloom of growth. As the ecosystem matures, the food chain switches from a linear chain—carnivores eating herbivores eating plants—to a more web-like, decentralized structure in which multiple species interact in increasingly complex ways. The waste of one organism is recycled as food for another, and resources such as nutrients and minerals are conserved. An example of a mature ecosystem is a tropical rain forest, where most of the nutrients are not in the ground but in the trees and the species that live in them. The land itself has little agricultural productivity, as farmers discover if they cut down the trees and try to grow soy or provide pasture for cattle.
Economies also develop in a similar manner. In a society of pioneers, wrote Odum, “high birth rates, rapid growth, high economic profits, and exploitation of accessible and unused resources are advantageous.” As the economy matures, the emphasis switches to “considerations of symbiosis (i.e., civil rights, law and order, education, and culture)” and the recycling of resources. However this transition is a work in progress: “Until recently mankind has more or less taken for granted the gas-exchange, water-purification, nutrient-cycling, and other protective functions of self-maintaining ecosystems, chiefly because neither his number nor his environmental manipulations have been great enough to affect regional and global balances. Now, of course, it is painfully evident that such balances are being affected, often detrimentally.” And matters have not improved in the ensuing half-century, as carbon dioxide emissions have climbed and the lifesupport abilities of the planet have continued to degrade. We have grown richer in monetary terms but the hidden charges are mounting up.…Very much worth the read.
As the Harvard political philosopher Michael J. Sandel explains, “We have drifted from having market economies to becoming market societies. The difference is this: A market economy is a tool—a valuable and effective tool—for organizing productive activity. A market society, by contrast, is a place where almost everything is up for sale.” In this case: “What role should money and markets play in a good society?Lots of info that raises more questions than the authors are able to answer, which they recognize, but these are the kinds of questions that we need to answer in a complex adaptive system subject to emergence.
Yes true. But you just got rid of one unelected neo-liberal machine. You now can vote the others out & demand change https://t.co/ymwNHjZ449— Bill Mitchell (@billy_blog) June 24, 2016