Quantitative Finance Fri, 14 Feb 2020 06:01:07 GMT language
Hi all, mod here. So, I know a lot of folks here have PhDs and so on.
I've been reading Limits to Growth , among other things. The methodology and conclusions can be debated easily enough. However, the simple, irrefutable argument which underpins this line of thought is that we live on a finite planet. Therefore, limitless growth cannot continue forever. It's just a matter of time. And that time may in fact be quite short.
- Can any of you smart people see something I don't see, about this simple and irrefutable argument?
- Can anyone suggest how capitalism, rewarder of consumption and predicated on endless growth, can be re-engineered to reward conservation?
- Can anyone explain how capitalism is compatible with the long-term sustainability of our species and our planet?
If not, it's probably time to look for a new job.
Me, I'm looking for new mods here. Please PM or comment if interested.
Wikipedia says :
"In 2016, a report published by the UK All-Party Parliamentary Group on Limits to Growth concluded that "there is unsettling evidence that society is still following the 'standard run' of the original study – in which overshoot leads to an eventual collapse of production and living standards". The report also points out that some issues not fully addressed in the original 1972 report, such as climate change, present additional challenges..."
-  https://en.wikipedia.org/wiki/The_Limits_to_Growth
- LTG critique, by Jorgen Randers, one of the authors of the original 1972 report (2012) - The Real Message of The Limits to Growth [PDF]
- LTG critique, by Brian Hayes (2012) - Computation and the Human Predicament [PDF]
- LTG online interactive model, by Brian Hayes - http://bit-player.org/extras/limits/ltg.html
"People are dying. Entire ecosystems are collapsing. We are in the beginning of a mass extinction, and all you can talk about is money and fairy tales of eternal economic growth." - Greta Thunberg (Sept 23, 2019 at the UN)
"If we don’t have a planet, we’re not going to have a very good financial system." - James Gorman, CEO of Morgan Stanley
"What is underway is a transition to a low-carbon future. That direction is irreversible and the smart money has worked that out and can see globally the trillions of dollars of infrastructure required ... As I heard someone say recently, you can’t do business on a dead planet." - Geoffrey Summerhayes, chair of the Sustainable Insurance Forum - full article here
- 33 banks commit to immediate action towards aligning with global climate goals
- Why Growth Can't Be Green
Edit: it's been more than 4 weeks and none of the 11k+ wizards here have solved the problem, although we've gained hundreds of subscribers since then. Take the hint. This cannot be solved, we all bought a lie, it's Santa Claus and the Tooth Fairy all over again. Your options are either: a) leave now; or b) be terminated. There are no other outcomes on the table. Other fields which need bright people, use computational skills, and will probably be needed after the transition to a sustainable economy include:
Don't agree? Go ahead and rebut the paper. Publish your work in a peer-reviewed academic journal and you may win a prize.
Edits by the Connect-the-Dots Dept:
- Bank of England boss Mark Carney says global finance is funding 4C temperature rise ... and that firms that ignore the climate crisis will go bankrupt
- Bank of Canada warns of stranded assets and an abrupt transition to clean economy - "It's about the transition risk, right, as everyone's portfolio and all their lending practices kind of converge on a different climate trend line..." - Stephen Poloz, governor, Bank of Canada
Thank you all for the thoughtful comments. Feel free to chime in if there's more. :)