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The World Is Running Out of Time — Bertrand Badré

Summary:
For decades, most of the major economies have relied on a form of capitalism that delivered considerable benefits. But systems do not work in isolation. Eventually, reality asserts itself: global trade tensions reemerge, populist nationalists win power, and natural disasters grow in frequency and intensity. "Capitalism" is the politico-economic system that favors capital (real and financial assets) over labor (workers) and land (environment, ecology) because it is assumed that growth is of the highest priority, higher than welfare, and growth is a function of increasing capital formation and capital accumulation. Go figure from there what the eventual consequences likely will be as the environment fester, ecological collapse threatens, and many workers find their compensation tending

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For decades, most of the major economies have relied on a form of capitalism that delivered considerable benefits. But systems do not work in isolation. Eventually, reality asserts itself: global trade tensions reemerge, populist nationalists win power, and natural disasters grow in frequency and intensity.
"Capitalism" is the politico-economic system that favors capital (real and financial assets) over labor (workers) and land (environment, ecology) because it is assumed that growth is of the highest priority, higher than welfare, and growth is a function of increasing capital formation and capital accumulation. Go figure from there what the eventual consequences likely will be as the environment fester, ecological collapse threatens, and many workers find their compensation tending toward the subsistence level.

Project Syndicate
The World Is Running Out of Time

Bertrand Badré
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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