Are you aware that humanity has perhaps never encountered such a level of global crisis and uncertainty before?
The pandemic cycle that has recurred over and over again, the climate and environmental crisis that has now turned into an existential problem, unending economic crises, developing and changing technologies, social ruptures. On top of that, problems such as hunger, basic human rights, freedom, equality and education, let alone solving, are deepening in different geographies of the world.
We are leaving behind a difficult year. As we prepare to enter a new year, some fundamental questions still remain unanswered:
The golden hit of this last period, where global economic crises can no longer be resolved with existing doctrines, was the pandemic. The economic uncertainty that emerged with the effect of the pandemic shook the whole world deeply. And it continues to shake. As the pandemic turns into a permanent cycle, the economy is seeking a new balance in a different world order.
But the basic question is: Despite all this economic power and advanced technology, why is humanity unable to solve the coronavirus issue effectively? Are we getting better or getting worse? Or is this our new normal, rather than good or bad?
Climate change denial!
What about the climate crisis? It is now clear that this is not something that can be ignored or denied.
The economic impact alone is staggering. In the coming period, the impact of climate change will become more severe and its economic toll will be the most expensive in history. At the end of the Second World War, about 40% of the world’s GDP was spent on repairing war damage. The figure calculated for the economic dimension of the effects of climate change is 60% of the global GDP by 2050!
The effects of climate change could be much worse than we think. Nearly 600 major coastal cities could be under water by 2050 due to rising seas. This could create 360 million to 1 billion eco-refugees. Production of basic foods such as rice, wheat and potatoes may decrease by 25%. It is possible that the global insurance market, which has a size of 6 trillion dollars a year, will collapse completely due to climate disasters.
This incomprehensible reluctance to fight climate change today actually increases the human and economic dimension of the issue day by day, making it far from being manageable. So what is the fundamental denial on which this general indifference is based? How can humanity stay so carefree and relaxed about this?
Hope in new generations!
Of course, the situation is not heartwarming for those who have lived with awareness for a long time in this mess. But there is hope. The approach of new generations to these issues will be much more effective and decisive.
Those who witnessed the experiences of their parents due to the effects of the crisis triggered by the pandemic now seem to question the values around society, the individual and the economy that were taught (or imposed) on them.
We need to closely follow topics such as blockchain, digital currencies, globalization, technology, new working models, the rise of the Asia-Pacific region, social and individual breakdowns, and a differentiating view of life.
How will all these affect and change social, social and economic teachings and practices in the coming period?
Briefly, humanity is passing an important test in many respects. In this period of perhaps the greatest global crisis and uncertainty in history, some fundamental and vital questions will need to be answered.
“Never let a good crisis go to waste.” Sir Winston Churchill
This bundle of crises can also open a window of opportunity for all humanity to solve the deepening problems of the world.
All the topics we talked about; changing life practices, working models, technology, global crisis and new economic doctrines after the pandemic may create an infrastructure that will trigger the transformation.
Thus, in the next 20-30 years, all economic and political practices may be destined to change and transform. It may generally be accepted that the first and primary business of the economy is not only profit and income, but also providing long-term benefits and value to all stakeholders. Issues related to climate change, the environment and sustainability can be prioritized. The whole model can work for people to live better, healthier and happier lives.
For the first time in history, economic purpose might go hand in hand with a sustainable healthy future for humanity and the planet.
This is my personal wish and hope for the new year! For all of us and our children…
Happy Sustainable New Year!
Book: The Rise of Technosocialism: How Inequality, AI and Climate will Usher in a New World by King, Brett; Petty, Dr. Richard