By Steve Denning, Carlota Pérez – To simplify and summarize: there have been five technological revolutions over the last 240 years.
What’s interesting for us today is that the historical record reveals a regular pattern in the diffusion process. It takes place in two halves. First, we have the rise of the new technology that occurs during the decline of the previous revolution. It’s like the 1980s, when we had inflation with the old technologies, which were yielding decreasing returns, while the information technology companies were growing fast with steadily increasing returns (and decreasing prices).
That first half is the installation period of the new technology, which leads to and ends with one or more bubble prosperities –as in the late 1990s and mid-2000s– when the financial sector and the casino economy take over.
Then the bubble or bubbles burst and we have a recession, as we have now, that might last anywhere from 2 years to 13 years or more.
Now in 2017, we are in the middle of another turning point, as in the 1930s, and we could have a period of sustained global prosperity if appropriate action is taken. more>
Posted in Banking, Broadband, Business, Communication industry, Economy, Education, History, Leadership, Media, Net
Tagged Banking reform, Broadband, Financial crisis, Government, Internet, Leadership, Super regions, Technology
By Harilla Goga – It is well known that the free individual with his thoughts and his actions, certainly in the frame of the legal system being in his service, is in the center of the democratic system. But, this individual, in fact, looks like “a consumer” of the democratic system goods. As such, he can keep his position as receiver, rejecter or protester depending on the “quality and quantity” of these goods.
Furthermore, this attitude is manifested towards elites/political establishment of the country concerned, but he generally cares a little or not at all about theories/ideas that politics are based on.
In economic terms, this lack of new ideas and theories is the “consumer’s” most sensitive subject, for example: The current economic and financial system is set based on very old theories which stress the maximum profit for business through tight competition and bankruptcy; The trade and free movement of capital system, that have unified markets and removed barriers, bringing benefits, common developments and new technologies throughout the world, but causing economic and social damages and environmental challenges in all regions of the world. States, governments and International organizations are addressing these challenges, but their programs and politics (leftists and rightists, or independents/new movements), are still fed by theories and ideas over than 100 or 200 years earlier. more>
Posted in Banking, Business, Economic development, Economy, Education, History, Leadership, Media, Net
Tagged Banking reform, Capital, Government, Internet, Leadership, Super regions
By John M. Balder – All of us were taught in Economics 101 that central banks determine the money supply by using their high-powered (base) money and the multiplier. Both of these concepts should be tossed in the trash can. These notions are in error, as both the BOE and the Federal Reserve have recognized. In fact, central banks passively accommodate bank demand for reserves (as doing otherwise could prove disruptive to financial stability).
The influence central banks exert over money and credit creation is achieved via their control of short-term interest rates, and not via quantitative restrictions.
A quick aside here, I have always been curious as to why economists tend to focus so exclusively on the real economy, while choosing to ignore the financial system entirely. Similarly, my work in banking regulation in the early 1990s indicated that most regulators tended to ignore macroeconomic variables.
Is this a case of “where you stand on an issue is often a function of where you sit?” As one who participated in both endeavors, I have perpetually felt a need to connect macro with finance. This may be happening more today than it was 10 or 20 years ago, but it still has a long way to go. more>
A Bright Idea: How LEDs Are Helping JPMorgan Chase Become Carbon Neutral
By Bruce Watson – When Mike Norton took over as managing director of real estate at JPMorgan Chase & Co. in 2015, he took on a weighty responsibility that included finding an efficient and sustainable way to oversee the branding, maintenance, upkeep and design of 6,000 branches and commercial properties around the world. It was a complex task that turned on a simple item: the light bulb.
Norton started talking to the energy management company Current, powered by GE. They devised a plan for a system focusing on improving energy efficiency, productivity and sustainability in nearly 4,500 Chase branches across the U.S. In 2016, that proposal turned into a deal for the world’s largest LED lighting installation, a project covering 25 million square feet of real estate that would eventually lead to energy savings equivalent to taking 27,000 cars off the road.
One year later, Current by GE has installed LEDs in 2,500 Chase branches. The original plan estimated that the installation would lead to 12 percent energy savings. But in reality, the savings have ranged from 15 to 50 percent, depending on the branch.
“It’s common sense: You take a 100-watt phosphorus light bulb and replace it with a 4-watt LED, and it’s going to lower energy usage by quite a bit,” Norton says. more> https://goo.gl/1UiEwV
Posted in Banking, Business, Economy, Energy & emissions, Science, Technology
Tagged Business improvement, Climate change, Electronics, GE, LED lighting, Physics, Technology