Hi all, Throughout history there have been a few primary economic revolutions, so-called: the Agricultural, the Mercantile, the First Industrial, the Second Industrial, and the Digital, could be one way to name them.
What is the next one? Clearly, it is the Sustainability, or the Green. This case is made well by William Janeway in his book Doing Capitalism in the Innovation Economy, but it should also be common knowledge to everyone across the ideological spectrum. Why is it on hold? Well, Janeway's book explains well how a mature Digital revolution, by creating massive private wealth in its mature stage (after massive public investment in the underlying R&D to launch the internet) has now de-legitimized the state. This stage is also characterized by financial bubbles (the aftermath of which have always bred nationalist populism) and an obsession by venture capital with unicorns (WeWork, Theranos, absurdities in short, wild fictions). Thus the basic R&D, the indispensable role of the state in the state/markets/finance three-player game, is stymied. The public/private partnership has stalled. What usually prompts the basic state R&D? Sadly, in history it has often been wars. States of dire necessity and unwanted conditions. One's hope is that necessity can be recognized earlier in the disaster curve rather than later, reducing suffering by skillful means, and intelligent work can enhance the prospects for hope. Where can optimism and constructive action be found? Janeway quotes Keynes for this, who said, to paraphrase: "vested interests never prevail permanently; ideas do." One cannot say that mistakes are possible without also saying that learning is possible. Who is to blame? Blame may be less constructive than diplomacy, which allows for the saving of face under compromise, on both geopolitical (as in Ferguson's new Networld) and other levels. Diplomacy can work wonders on many of the latter, such as sociology, music, drama, design, psychology, network theory, cultural exchange, economic stimulus, sculpture, intergenerational dialogue, neuroscience, medicine, the list goes on. Perhaps the time has come for all good people to come to the aid of their planet. Very best regards, Max Note: Lecture by Janeway, 2018: https://www.youtube.com/watch?v=fJoY6YJNhLE [https://www.bing.com/th?id=OVP.6DxcCNaTpNuG5arC7jvztgHfFn&pid=Api]<https://www.youtube.com/watch?v=fJoY6YJNhLE> Bill Janeway – Doing Capitalism in the Innovation Economy<https://www.youtube.com/watch?v=fJoY6YJNhLE> Bill Janeway will be discussing his latest book, Doing Capitalism in the Innovation Economy. In this fully revised and updated edition, Janeway interweaves his professional experience with political and financial history, giving a lively explanation of how successive technological revolutions have transformed the market economy, and revealing ... www.youtube.com
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