Share Sounds. from Thought for the Week

The past seventy years have seen remarkable progress in so many areas, but they have also been accompanied by a growing addiction to debt. We've lost connection with the disciplines which should govern the use of debt: like the road runner who has just lost touch with the cliff edge, there is no longer any solid ground on which we can land — so we must now anticipate painful re-adjustment as markets fall. We need to move to a mindset where debt is a form of investment for the future, to be drawn down carefully and sparingly — not to be used either for chasing higher and higher prices, or for incessant Government bail-outs. Background music: 'Addicted' by VYEN

Lord Rees, Astronomer Royal and former Master of Trinity College Cambridge, has just published a new book called ‘If Science is to Save Us’, which he discussed at a Topos Institute seminar at the Royal Society in London on Wednesday 27th September. Our 'Thought' for this week reflects on his analysis of the mega-challenges which confront us, picking up links to commentaries on his themes which we have provided over recent years, and which are accessible from the website commentary link below. Background music: 'Ether Oar' by The Whole Other Share Radio webpage for links: https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-10-03/

There's a key missing link in Kwasi Kwarteng's mini-Budget strategy — workforce capacity. The unemployment rate is already at a record low of 3.6%, with many more vacancies than job-seekers: if we don’t tackle workplace capacity, the new Growth Plan won’t work. However there are initiatives we can take at both ends of the working age-range which could increase the available workforce by at least half a million people, together with significantly improving mobility for young adults to take advantage of work opportunities wherever they arise, and reducing public expenditure on health and care services. So, while the current focus is understandably on Government borrowing and the exchange rate, we must increase workforce capacity for the Growth Plan to succeed. Background music: 'The Plan's Working' by Cooper Cannell

The ground-breaking announcement last week from the Oxford Institute for New Economic Thinking, almost totally eclipsed when it was published, is that decarbonizing the energy system by 2050 could save at least $12 trillion compared to continuing with our current levels of fossil fuel use. So, once this has transformed energy supply across the world, can we at last look forward to a silver lining to the dark clouds currently hanging over us, in terms of drawing a line under climate change, economic turmoil and international conflict? Background music: 'Solar Power' by Ashley Shadow. Image source: Institute for New Economic Thinking

“I said to the man who stood at the Gate of the Year, ‘Give me a light that I may tread safely into the unknown.’ And he replied, 'Go out into the darkness , and put your hand into the hand of God. That shall be to you better than light, and safer than a known way.'” - indeed, the guiding light for the servant leadership that she gave us throughout these past seventy years. Our Thought for this Week comprises the tributes given in the House of Commons on Friday 9 September, beginning with the Speaker, Sir Lindsay Hoyle, and followed by - (4:46) Rt Hon Elizabeth Truss MP, The Prime Minister (11:17) Rt Hon Keir Starmer MP (20:06) Sir Peter Bottomley MP (20:36) Rt Hon Ian Blackford MP (27:57) Rt Hon Boris Johnson MP (36:31) Rt Hon Harriet Harman KC MP (41:53) Rt Hon Theresa May MP (50:05) Rt Hon Ed Davey MP Background Music: 'New Year's Anthem' by Quincas Moreira

As Liz Truss takes the hot seat in British politics, we explain why political leaders must embrace disintermediation and servant leadership as the way forward to a better world. Arrogance is so often the Achilles heel of leaders, and genuine humility is hard to detect. So, as the new Prime Minister takes the reins in 10 Downing St, we call for a proper understanding of servant leadership and explain why disintermediation is critical to effective delivery, the ability for all to share both wealth and opportunity, and a legacy of continuing progress for the future. Background music: 'When All of This is Over' by The Westerlies

Hardly a day goes by without yet more evidence of our approach to empowering the next generation being wholly dysfunctional; the gap between Baby Boomer and Millenial wealth is reaching record proprtions. Meanwhile, as President Biden made his bold move last week to cancel student debt, it provoked an explosive eruption of criticism from Wall Street Journal readers. Here in the UK, another initiative to help the young, the Child Trust Fund, has over £1 billion waiting to be claimed by young adults, almost all from low-income backgrounds, due to a lack of focus from Government. It's hard to avoid the conclusion that we are a selfish and short-sighted generation of ‘Baby Boomers’ — we need to stand back and take stock of our failure to empower coming generations. Background music: 'Future Glider' by Brian Bolger Please visit Webpage for charts and links: https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-08-30/

The ONS reports the sharpest fall in real wages since the financial crash, but is the pain of soaring inflation shared by all? The contrast between stock market reaction so far this year and that which followed the oil price shock in the 1970s suggests that there is little comparison with those days: and yet the massive increase in fossil fuel and food prices driven by Putin's war in Ukraine is every bit as severe as then. So why, notwithstanding the fact that economic recession is expected, are stock markets so sanguine about the conditions facing us today? It has all to do with the very different impact felt by different segments of society as a result of chronic polarisation of wealth, and it explains why we need to move to a more egalitarian form of capitalism. Background music: 'Sarabande' by Joel Cummins

Janice Turner's strikingly clear article in Saturday's Times (13/8/22) sets out why young people from low income households have such a struggle finding stability and economic security, after years of student debt, soaring house prices, and a much higher risk of split parents. In 2010 David Willetts' book 'The Pinch' was published, setting out the huge generational divide at that time: but over the past 12 years, the position has deteriorated significantly. Will Liz Truss call for change? Background music: 'Land of My Fathers' by The 126ers Links via https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-08-15/

Opening the Lambeth Conference last week, Archbishop Justin drew his colleagues' attention to the ‘lions’ threatening humanity with attack, hostility, danger and uncertainty, summarising them as climate change, religious extremism, war and government oppression, economic injustice and poverty, and culture wars. His comments on science and technology were more circumspect, accepting their capacity to deliver solutions as well as to present challenges. It is, however, important to recognise how long-term and short-term motivations to tackle these challenges are so often in conflict. In a world where our actions today influence the long-term more acutely than at any time in history, we must re-balance our search for solutions in order to avoid the long-term being continually eclipsed by, and often sacrificed to, the short-term. Background music: Brass Chorale and Motet by Sir Cubworth Links via: https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-08-08/