There’s a ton of conversation lately about inflation, and its effects on the economy and on people’s personal finances. Lots of people are concerned. BUT, could inflation actually be helpful?
We are in a climate and environmental crisis that could ruin just about everything if we don’t get it under control - including the entire economy. The planet is being ruined by people buying stuff, and when stuff is expensive, people buy less. Could higher prices help us get our overconsumption under control?
Further, as we destroy the climate and nature, there will be shortages of water, food, metals, oil and just about everything, which will drive up prices. High prices are coming anyway, whether we like it or not. So maybe we should drive up prices now while we still have some nature and manageable climate left to protect.
Today, we talk about inflation, consumption and your future - and how we can manage our economy to protect us all from environmental danger.
With us to talk about all this is one of my very best friends, Mike Jordan. He is working with me to produce this podcast and to launch The Human Survival Project. He is smart, interesting, curious and lots of fun to talk with.
Thanks for approaching this controversial topic with an open mind.
Resources (with time stamps):
(5:15) Humans are consuming the equivalent of 1.7 Earths. If all humans consumed like Americans, we would need 5 Earths.
~ Global Footprint Network
(8:20) NY Times columnist Bret Stephens, after years of downplaying the threat of climate change, changes his perspective after a trip to Greenland.
~ NY Times, 10/28/22
Where My Climate Doubts Began To Melt
(10:30) Mike mentioned fossil fuel industries receiving $11 trillion in subsidies each year, which he was pulling from memory. It may be that he was remembering the figure of $11 million every minute, which adds up to $5.9 trillion annually. Various analyses come out a little differently. Any way you slice it, fossil fuel subsidies are enormous.
~ Yale Environment 360, 10/6/21
Fossil Fuels Received $5.9 Trillion In Subsidies in 2020, Report Finds
(12:20) The world is running out of high quality oil, and now working harder and costlier to extract lower quality oil, which will result in higher oil prices in the future.
~ Nate Hagens, The Great Simplification Podcast - YouTube
In our conversation, I wish I had mentioned this other project Nate Hagens is working on. They are advancing proposals like what we’ve discussed in this talk - basically, taxing resources to reduce their consumption. Please check this out - it’s terrific.
(21:55) The Affluent Society by John Kenneth Galbraith ~ Wikipedia
(29:30) Mike mentioned online advertising he received after shopping at a store. He was not just being paranoid. Retail stores use wifi and bluetooth to track customers and learn about their shopping behavior, and follow them beyond the store.
~ Vox, 1/29/20
Why you see online ads for stuff you buy in the real world
~ RetailDive/SenSource, 3/4/20
Wi-Fi tracking: A data gold mine or privacy nightmare?
~ New York Times, 6/14/19
In Stores, Secret Surveillance Tracks Your Every Move