Punished or redeemed?
03-20-2020 8:56 pmI recently posted an unorthodox talk with the chief-economist of the Romanian National Bank, Valentin Lazea, when we agreed that the world’s economic development model was no longer sustainable. As a result, economic theories need to radically change and focus on GDP per capita growth and not just GDP growth. Neither does human civilization stand a chance to save the planet as long as the rise of population is not quickly brought to a halt and our consumption behavior does not make a U-turn. I was skeptically noting that history showed that behavior changes occurred only when economics encouraged them based on free market mechanism or intentional economic policies. Here we are, a few weeks later, and I have to admit that I had left out an extremely important behavior change trigger: a pandemic. We see now the implications of the current pandemic act with mathematical precision in the very
Read article
