Reshaping the Economy, Part 3: Climate and Technology

David Brancaccio: In this difficult year, technology and economy in general are still performing well. How to reshape it? Well, there is a saying that can be promoted. This is D-Calif. Views of Rep. Ro Khanna.
Rep. Ro Khanna: I think we have to realize that we are experiencing a technological revolution that benefits certain parts of the country. In fact, it is now a factor driving many stock markets and growth, but many people are excluded. Moreover, we did not deliberately let people pave the way for these future jobs.
Kimberly Adams: People who are excluded, such as Roland in Houston, notice this disconnect.
Roland: For people like me, I don’t have money to invest in the stock market. I have no knowledge or money. Therefore, I really do not have a nest egg like a certain percentage of the top population. So yes, I am not sure. I have never seen myself retiring, let’s put it this way, I may be able to work until I die.
Roland: It is difficult to accept that I am at a moment when my financial prospects are troubled. Therefore, my sister is not sure what will happen without her help. I may become very frustrated and just give up. uncertain. However, I don’t have an industry where I can make a living. I have skills, but it will be very difficult to get another certificate or another degree at my age.
Blanca Joe: Well, the Democratic Congressman Ro Khanna who represents California’s Silicon Valley doesn’t want to work in technology. He hopes to do more technical work in more places. He has been working in West Virginia, Kentucky and the South. Cana said that establishing fast data connections in various places to help business development and distance education will cost about 80 billion US dollars.
Cana: I think high-speed internet is just a bet. Then, we need incentives and imaginative policies to give people the opportunity to recruit talent from places where they have never left a technology company. I mean, there are a lot of talents there. But some recruits are short-sighted. For example, we have historically ignored black universities. One example is Zoom, which just announced a partnership between me and Congressman [James] Clyburn and Claflin University.
Brancaccio: It was a historic black campus in South Carolina, connected to our new ubiquitous colleague Zoom. This is a five-year contract, part of which is determined by interns. Cana pointed out that China spends desperately high-tech jobs outside the old places. This is only part of this trend.
As the scope of the reimagining expands from the US economy to the issue of global financial inclusion, we noticed that Nairobi, the capital of Kenya, is now a thriving technology hub.
Mauro Guillén (Mauro Guillén): They call it the “Silicon Prairie.” You will see that African countries, especially sub-Saharan African countries, are far ahead of the rest of the world.
Brancaccio: Mauro Guillén is a professor of management at the Wharton School of the University of Pennsylvania. With the exception of Nairobi, Johannesburg in South Africa and Lagos in Nigeria, Africa may be mature for more silicon prairies.
Gillen: For example, in the use of mobile payments and telemedicine. We only discovered it in the United States because we are selectively locked in, but they have been engaged in telemedicine for at least ten years. Therefore, in fact, Africa is ahead of the rest of the world in some respects. They are innovating.
Brancaccio: Guillén’s new book is titled “2030: How today’s biggest trends will collide and reshape the future of everything.”
Gillen: This is also a huge opportunity, because Africa will have the youngest population in the world so far. On average, when the population is younger, the economy tends to be more active.
Adams: Speaking of youthful vitality: Frances Cox and Jasson Perez’s daughter, Nisa Perez, in Chicago, I was with her Talk about her views on economic changes. She has been actively involved in the cause of social justice, and at the age of 17, said that she was very clear about her economy, which already existed even before COVID-19 did not apply to her community.
Nisa Perez: To have everything you need to survive, it should not be the best game for survival. You should have a house, you should have water, you should have lights, you should have food, and you should have money.
Blanca Joe: What do we have, the three most transformative events that happen at the same time in our lives happen at the same time? Wait a minute, four o’clock. The pandemic, the economic collapse, the state (if not the global) re-engagement in race and inequality. And, oh yes, did we mention that after we release all the carbon dioxide, the temperature of the earth rises to a point where part of it is no longer habitable. This is someone who came up with a plan to remove all bad carbon from the US economy in 15 years. Not 50-15. Not to make life harsh and miserable, but to charge everything up.
Blanca Joe: MacArthur (GenArt Grant) winner Saul Griffith (Saul Griffith) is an engineer and CEO of a research group called Otherlab. He is one of the authors of a report written with the non-profit organization Rewiring America. They performed mathematical calculations and found that if everything were run by electricity, we might need about half of the energy we thought. To complete a complete conversion in a short period of time will be an arduous task for economic growth during World War II.
Griffith: If we are serious about responding to what the Earth should do in accordance with the carbon dioxide target, this is the effort to do so. Moreover, as far as COVID is concerned, this is a historic opportunity, such as the Great Depression like World War II, to carry out the massive infrastructure expenditures required. It will create the jobs we need. Ultimately, if we do this, we will eventually have a stronger, more resilient, and more prepared country, and a healthier population in the future.
Brancaccio: Although many people can’t afford to move fossil fuels out of work, Griffith said that the traditional energy industry has become more automated, and it’s not as necessary for his transformation. Labor intensive. The Griffith report estimates that converting wind, solar, and hydroelectric power into everything will create 25 million jobs, and that when everything has electricity, there will be an increase of 5 million jobs.
Griffith: We don’t pay for wind or sunshine like we buy coal and natural gas. And all the machines required for this require more labor because we must install and maintain them. It will create more job opportunities.
Branccacio: Although Griffith suspects that nuclear energy is cost-competitive with other renewable energy sources, the group’s overall decarbonization plan allows certain nuclear energy to be used during the transition period.
This collapse program to decarbonize energy is one way. Another way to solve the climate change problem is to increase employment opportunities, which is to make everything renewable, not just energy. This is the so-called “circular economy”.
William McDonough (William McDonough): Once you realize that something is not waste, it is food for other things, then you design “Waste equals food”.
Blanca Joe: William McDonough (William McDonough) is an architect and designer. He co-authored a well-known watershed book in the history of sustainable development: “From Cradle to Cradle: Reshape Our Manufacturing method.” The banana peel you think of has become a compost for plants and worms, but it is being promoted globally. Instead of buying LED bulbs, you can purchase lighting services, which can retrieve the bulbs and collect all components, including the rare earth elements inside, after the bulbs are made. In Switzerland, McDonough helped the old office furniture company Steelcase use everything sustainable to make fabrics.
MacDonald: We are made of wool and hemp-hemp is a kind of fiber-and all the dyes, mordants and rinsing liquids are so clean that the water from the factory is as clean as Swiss drinking water. This is it Yes. Therefore, you will not cause pollution. These decorations used to be hazardous waste and must be shipped from Switzerland to Spain because you cannot burn or bury it in Switzerland. Therefore, this is business cost. The fabric decoration becomes the covering of the local garden club. By the way, many people are sitting on that Airbus.
Blanca Joe: Airbus plane. McDonough also designed the Adam Joseph Lewis Environmental Research Center at Oberlin College in Ohio, which controls waste and generates more energy than it consumes.
MacDonald: This is a tree-like building. A tree collects more energy from solar energy than it needs to survive. It will actually grow. amazing. And, it purifies water. Therefore, we hope to design a renewable system.
Blancaccio (Brancaccio): From the perspective of energy production, he puts forward a bigger point of view that circular economy creates more jobs, even if circular economy will bring damage to those who are based on existing working methods.
MacDonald: There are many things to do with renewable energy. Coal can do nothing. So the point-this is job creation. This is-how do we meaningfully interact with the world today and do great work for people?
Blancagio: Maybe some of them are thinking more broadly about who you think they serve. Kat Cole is the president and COO of Focus Brands, which includes pretzels from Cinnabon, Jamba Juice, Carvel and Auntie Anne. Cole started his career as a hostess first, then waiting for a table at the Hooters restaurant. She often tells how she started traveling internationally to Hooters’ office at the age of 19, dedicated to the global expansion of the chain. Although she sells indulgence, she uses a holistic approach to leadership. Ms. Cole, thank you for joining us.
Cole: It’s really to save money to meet my own needs. We have passed a stage in which my mother is doing three jobs and providing food for us with a food budget of $10 a week. She has been doing it for three years. By the time I was 15 years old, my mother’s job had improved, but it was not enough for her three daughters to go to college. Therefore, if I want anything, I need to work hard. So I started working in shopping malls and then in restaurants.
Brancaccio: Kat, your current approach to Twitter is different, but I know it used to be a connected conscious capitalist. What does this mean to you?
Cole: I think this means despising and redefining capitalism as an ecosystem that puts people and more stakeholders at the forefront, rather than an afterthought. This is not the only purpose of a company to become a shareholder, but to understand that by taking care of the related stakeholders (employees, customers, suppliers), this is the direction of capitalism, which is already moving forward and must continue to move forward. In this way, the gap between rich and poor will not continue to widen.
Brancaccio: You are referring to insulting capitalism-part of stigma, does it in some cases exacerbate the gap between rich and poor?
Cole: It’s a shame, right? Are there other stigmas? When people hear about capitalism, they will say, yes, I am a capitalist, and I only focus on free market and individualism, and everything related to it, or the other side, that is, capitalism only focuses on market. And shareholders, regardless of downstream and socio-economic impacts. Therefore, there is a need to shift from shareholders to stakeholders-shareholders are the key stakeholders because they first invest money to make the company possible. So they are critical. However, if other aspects are not positively affected, then there will be no business over time.
Adams: Many people are challenging how our economy works and who we serve. These ideas come from all over the world. Frances Cox, who went to college, was a computer programmer and now has cleaning jobs. He hopes to make drastic changes-starting with policies such as compensation for black Americans. But she also wants to change our way of thinking.
Adams: Her daughter Nisa and Nisa’s father Jasson said that there needs to be a way for people to receive education, college or vocational education without being burdened with huge debts.
Roland, a massage therapist in Houston, wants everyone to pay a living wage, such as raising the minimum wage. His sister Rochelle, a retired engineer, wants to see more economic compassion.
Rochelle Rittmaster: It seems that as a society, we really need to recognize that people are going out and fighting. They are getting up every day, they are going to work, they are doing what they need to do, but in the end, they still can’t do it. It is wrong. As a society, we need more compassion and more support for everyone.
Adams: Sympathy and support for everyone. Among all races, economic inequality in the United States is particularly serious. Cathy Cohen, a professor of political science at the University of Chicago, regularly surveys millennials to ensure that people of color are properly sampled.
Cohen: We asked a question, what is the best way to make racial progress in the United States? Voting in state and local elections, voting in federal elections, but also organizing in community, community service, nonviolent protests, and yes, including revolutions. Among African Americans, Asian Americans, and Latino young people, the most prominent answer is to organize in the community. Even among young whites, this is the second most popular answer.
Adams: This is not the first place, but many people did choose “revolution”, especially many black millennials. Cohen understood it as a belief that to make things better, a systematic change is required.
Blancaccio (Brancaccio): Darren Walker (Darren Walker) is the president of the second largest philanthropy, Ford Foundation (Ford Foundation), with a $12 billion donation.
Walker: This is a kind of capitalism without a conscience. It does not realize the harm of inequality to our democracy, because hope is the oxygen of democracy. Inequality suffocates hope, which leads people to believe that the institutions in our democracy that should improve their own interests are manipulated, designed and manipulated by us, and we give Americans the privilege to sacrifice their own interests to benefit us. David, if I am true and tell you frankly, they are right. They are right.
Blanca Joe: Walker has been challenging those who have won in the current economic system to consider which parts of the privileges they are prepared to give up
This is what I learned from talking to Ray Dalio, one of the Wall Street tycoons, founder of Bridgewater Associates, which is the largest hedge fund . His knowledge of history tells him that when interest rates were low (at the time), global powers were in a state of conflict (think of the United States and China) and the gap between the rich and the poor was growing (again, the same), something very bad happened Things, such as war.
Dalio: Our goal is not to cooperate peacefully and achieve common greatness in a wide range of ways, or do you want to fight each other? Moreover, there is enough money to do it. Not only must be redistributed in a way that has no motivation for work, but more people must have the opportunity to get a good education, work together, and get together. Because I am worried that we are fighting each other at home, and I am worried that we are fighting each other internationally.
Huang: But, David, we have to make sure this is not just talking. If we are to build an economy that is more humane and resilient than the one we entered at the beginning of this year, some of them must be put into action.
Branchaccio: There is an idea called the “Overton Window”, which is named after a young public policy figure Joseph P. Overton in Michigan who died in a young age. The public, politicians, and regulators believe that the window of policy possibilities is worthy of serious consideration. You know, so far away from ideas, why talk about them. In 2020, many people believe that the curtains on Overton windows have opened up to a wider view. We have researched some ideas here and will continue to find ways to reimagine systems that are useful to more people.
“Economy Reimagined” by Candace Manriquez Wrenn, Rose Conlon, Victoria Craig, Meredith Garrison (Meredith Garretson), produced by Daniel Shin and Erika Soderstrom (Erika Soderstrom). Alex Schroeder made the digital elements. Works by Brian Allison and Jay Siebold. Our theme music was created and recorded by Daniel Ramirez and Ben Tolliday. Our executive producer Nicole Childers is in charge of the project.
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Post time: Aug-10-2020