The Brexit vote in England and then the election of Donald Trump, those two unexpected but consequential convulsions, are going to bring some big changes, many to be feared, but others to be welcomed. To my mind, both were driven by fear of the future and “a wildly mistaken interpretation of what is happening to us.” Both are going to make for some near-term chaos, but in the end I actually think they are going to accelerate changes that finally need to come. Trump is a symptom of something much bigger and more fundamental going on in the world. So are the people behind Brexit in Great Britain. They are not driving the change, they are reacting to the change. They are not showing the way forward, they are making desperate attempts to cling to the past, a past that is gone forever. The world is in the relatively early stages of an almost inevitable transition to what can be best understood as a new 21st-century civilization. Relatively early — meaning roughly one-third of the way through. And almost inevitable — meaning it can be derailed if we make some catastrophic political choices. There are three fundamentally different characteristics of this civilization: One, it will be run totally on digital technologies, smarter and smarter, more and more interconnected computers. Two, it will be totally global and operate on a planetary scale. And three, it will have to be sustainable, in its energy usage and its impact on the planet. All three of these shifts are well underway and can be tracked and explained by pointing to investments, the morphing of the advanced economy, the positioning of leading companies, and just following what innovative people are doing. In many ways, these developments are happening despite what governments do. Governments can make things better, and accelerate changes, or slow down changes, but they can’t stop them at this macro level.
Medium 19th Jan 2017 read more »
(IPEC) announced that the three unit nuclear power station on the Hudson River will close fully by 2021. The power station has been a source of controversy through most of its 40 plus year life, beginning when its construction almost bankrupted Consolidated Edison Co. of New York, its builder. It was subsequently owned by the state’s power authority and then eventually purchased by a subsidiary of New Orleans based Entergy Corp. The original Indian Point site contained a waterfront amusement park. We doubt at this stage that anyone is still amused.
Oil Price 20th Jan 2017 read more »