Comments by "Tony Wilson" (@tonywilson4713) on "Inside the World’s Largest Cargo Shipping Bottleneck Today | WSJ" video.

  1. SIMPLE FACT: We either learn to MANAGE the World's resources properly or we are going to see modern society collapse. I'm an engineer and this is the same basic issue facing many industries. FOR TOO LONG shirt term profits came before long term viability and that is causing so many problems. In engineering we have a range of techniques we collectively call ROOT CAUSE ANALYSIS (RCA for short). If you have ever watched an accident investigation documentary where they trace an accident back to its initiating causes then you've seen this. About 6 years ago after a consulting job into Australia's (my country) energy sector I became aware of some very serious issues with our future. When I looked into HOW we had got to where we are (and its even worse now) I found that it started in the 1970s when Chicago School Economics in the guise of Reaganomics and Thatcherism took over as the dominant economic ideology. If you go and listen to REBEL economists like Steve Keen you'll hear that classical and neo-classical economists don't even include ENERGY in their models. As an engineer I find that absurd because we need energy to run everything. Every modern business in the world as at least 1 (usually electricity) and usually 2 (add in gas or oil) energy bills. I would add to Steve Keen's assessment that classical and neo-classical economists ALSO ignore the function of WATER in in the worlds economy. And if you are wondering - YES Australia has both very serious ENERGY and WATER issues and because the majority of our economists have NO UNDERSTANDING of HOW either energy or water make modern societies function.
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