On Progress and Anti-Elitism

Mariano Torras Complexity, Environment/Sustainability, Future, General, History, Politics, Public policy/Wellbeing, Reflections, Science Leave a Comment

May 31, 2021

“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.” (George Bernard Shaw) U.S. middle class living standards have been more or less stagnant over recent decades, and the same is true in most of the developed world. Inequality has both been a cause and consequence, as whatever economic growth experienced has disproportionately accrued to the social elite. But who exactly are …

The Urgency for an Enlightenment 2.0

Mariano Torras Complexity, Ecological Economics, Economic Theory, Environment/Sustainability, Future, General, History, Macroeconomics, Methodology/Statistics, Microeconomics, Politics, Public policy/Wellbeing, Reflections, Science Leave a Comment

April 30, 2021

When you automate an industry you modernize it; when you automate a life you primitivize it. (Eric Hoffer) It is well known that rationality and science emerged during the Age of Enlightenment. Many indeed attribute human progress over the past few centuries to reason and discovery. Despite a Romantic reaction against some of the worst excesses of the Industrial Revolution, there is little doubt that human reason, empiricism, and science ultimately became the dominant world view. The “defeat” of Romanticism …

A Millennial-Z Moment

Mariano Torras Environment/Sustainability, Future, General, Macroeconomics, Politics, Public policy/Wellbeing Leave a Comment

April 27, 2021

Perusing the Financial Times this morning, I came across three important articles that seemed unrelated. On further reflection, however, I discovered a common thread. All three address future prospects for the Millennial and Z generations, even if two only indirectly. Jointly they suggest, in my analysis, that a Millennial-Z moment may be approaching. Sarah O’Connor’s piece focuses on the economic insecurity faced by many in either the Millennial or Gen-Z cohorts. By itself there is nothing remarkable here, nor even …

The Multitude of Things That Fungi Can Teach Us

Mariano Torras Complexity, Environment/Sustainability, General, Science Leave a Comment

April 19, 2021

Merlin Sheldrake’s recent book, Entangled Life: How Fungi Make Our Worlds, Change Our Minds, and Shape Our Futures, is astonishing – truly one of a kind. The author is an exceedingly rare case of a scientific specialist with a superb gift for writing. In this gem of a book the reader encounters the multitude of things that fungi can teach us about the world and about ourselves. There is much here that is awe-inspiring to contemplate. Who could ever imagine …

Continued Growth Is Not Good for the Environment

Mariano Torras Ecological Economics, Economic Theory, Environment/Sustainability, Future, General, Methodology/Statistics, Politics, Public policy/Wellbeing, Reflections, Science Leave a Comment

March 31, 2021

“Earth provides enough to satisfy every man’s needs, but not every man’s greed.” (Mahatma Gandhi) You might be thinking that this one is a complete no-brainer. How could growth be good for the environment? The larger the economy is, the more material waste and pollution is produced, right? True, but as we will see, it is not the whole story. Other factors intervene that many believe make the argument plausible. In arguing that continued growth is not good for the …

Bidenomics: The Broader Context

Mariano Torras Environment/Sustainability, Future, General, Macroeconomics, Politics, Public policy/Wellbeing 2 Comments

March 14, 2021

This past Thursday President Biden signed into law his coronavirus relief package, which amounts to $1.9 trillion of new outlays. Even the most hardened cynic would be hard pressed to find much here that smells rotten. The new policy is indeed far removed from anything advanced by Trump and his manipulators over the past four years. It alone provides reason for hope, perhaps even for a new era of “Bidenomics.” The package contains money for a variety of purposes. Notably …

Are We Approaching a Tipping Point?

Mariano Torras Complexity, Environment/Sustainability, Future, General, History, Methodology/Statistics, Science Leave a Comment

March 8, 2021

Texas has been on my mind lately. No, I’m not a Republican, and I’m not crazy about hot weather. That is, in fact, the problem. Texas has been in the recent news, but not because of its heat. Quite the contrary. An unexpected winter storm last month stressed the electric grid in Texas and almost brought it down. Bill Magness, president and chief executive of the Electric Reliability Council of Texas (ERCOT), said Texas was “seconds and minutes” from complete …

Path Dependence and the Folly of Incrementalism

Mariano Torras Complexity, Economic Theory, Environment/Sustainability, Future, General, History, Politics, Public policy/Wellbeing, Reflections, Science 2 Comments

February 28, 2021

“History matters” (Robert Jensen) I am currently teaching a seminar entitled “Rethinking Progress.” One recurring topic in our discussions is the modern world’s present rate of technological advance in the absence of commensurate progress in the social sphere. My students sense an ominous imbalance and probable environmental overshoot. I want them to see the folly of incrementalism as a solution, yet do not want them to see me as preaching revolution. I therefore believe an understanding of path dependence to …

The Inevitability of a (Probably Massive) Green New Deal

Mariano Torras Ecological Economics, Environment/Sustainability, Future, General, Macroeconomics, Politics, Public policy/Wellbeing, Science Leave a Comment

February 21, 2021

Did I get your attention? Ok, let me preface by adding “at some point” to the title. After all, to say that the present political climate in Washington makes a Green New Deal impossible might even be an understatement. And there really is nothing inevitable about such a policy breakthrough. One could alternatively imagine an endless political war of attrition. Yet most thinking people are coming to realize, however slowly, that continuing to ignore the global environmental crisis spells ruin …

The 1.9 Trillion-Dollar Question

Mariano Torras Economic Theory, Environment/Sustainability, General, Macroeconomics, Politics, Public policy/Wellbeing Leave a Comment

February 14, 2021

The truth is that approval of the Biden Administration’s proposed stimulus package is inconceivable without major revision. We know that. But let us for the moment ignore the partisan political challenges that make passage impossible. Pretend, in other words, that Congress is unified and ready to rubber stamp whatever plan Biden advances. The 1.9 trillion-dollar question then becomes whether the size of his present proposal is too large – or not large enough. The political arguments on each side are …