economics

Book review – The Rare Metals War: The Dark Side of Clean Energy and Digital Technologies

7-minute read

Normally the sight of photovoltaic panels and wind turbines fills me with hope, but I have my doubts after reading this book. Many politicians, business leaders, and environmental organisations argue that we need to invest in renewables to transition away from fossil fuels and the accompanying carbon dioxide emissions. What is rarely mentioned is that these technologies require the mining of rare metals: chemical elements such as rhenium, lithium, antimony, neodymium, tantalum, and many others that most people have barely heard of. In The Rare Metals War, French investigative journalist Guillaume Pitron sounds the alarm, showing both the environmental impact and China’s chokehold on the market.

I read this book in tandem with David S. Abraham’s slightly older The Elements of Power which I had been meaning to read for ages. Thus, this is the second of a two-part review dealing with these little-known elements that have silently come to dominate our lives.

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Book review – The Elements of Power: Gadgets, Guns, and the Struggle for a Sustainable Future in the Rare Metal Age

7-minute read

Tantalum, tellurium, indium, niobium, germanium, dysprosium, rhenium, yttrium, neodymium, titanium, lithium, tungsten, cobalt. These are but some of the many chemical elements that are collectively known as rare metals. You will probably recognize only a few of them, but trace quantities are in products and structures all around you, making things stronger, faster, and lighter. They are used to make smartphones, laptops, and fibre-optic cables; but also cars, airplanes, and military weapon systems; and even photovoltaic panels and wind turbines. We live in the Rare Metal Age, writes natural resources strategist David S. Abraham here.

I have been meaning to read this book for ages. With the recent publication of Guillaume Pitron’s The Rare Metals War, now is the right time. Thus, this is the first of a two-part review dealing with these little-known elements that have silently come to dominate our lives.

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Book review – The European Guilds: An Economic Analysis

8-minute read

This review is a case of one book leading to another. When I read Carl Benedikt Frey’s The Technology Trap, one argument he raised as to why the Industrial Revolution arrived as late as it did, was the resistance to innovation by guilds. But beyond certain vague and probably romantic notions, what do I really know about medieval guilds? And thus I found myself sitting down with The European Guilds, a hefty 645-page book by economic historian Sheilagh Ogilvie, published in The Princeton Economic History of the Western World series. This meticulously argued book crushes the idea that guilds served the common good. Instead, argues Ogilvie, through their profiteering they held Europe in an economic stranglehold that lasted for centuries.

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Book review – A Life on Our Planet: My Witness Statement and a Vision for the Future

8-minute read

The legendary British broadcaster and natural historian Sir David Attenborough needs almost no introduction. From his first appearance on our television screens in 1954, he has gone on to a long and distinguished career presenting and narrating groundbreaking nature documentaries. And he shows no sign of slowing down. His voice and style have become so iconic that he has been dubbed the voice of nature. Over the years, he has increasingly expressed concern over the state of the natural world, and in A Life on Our Planet Attenborough fully engages with this topic. However, when you turn to the title page you will notice the name of a co-author, Jonnie Hughes, who directed the Netflix documentary tying in with this book. As Attenborough explains in his acknowledgements, Hughes has been particularly instrumental in the writing of the third part of the book, together with substantial assistance of the Science Team at WWF. This is Attenborough’s witness statement, yes, but whose vision of the future is it?

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Book review – Growth: From Microorganisms to Megacities

8-minute read

Growth as a process is ubiquitous. It is the hallmark of every living organism. It motivates much of what we as humans do, as often unspoken as it is outspoken. It is the narrative lens through which we examine societies and civilizations past and present. And it is the altar at which economists worship. You would think that nobody in their right mind would write a book that tries to encompass all of the above. Leave it to a deep thinker such as Vaclav Smil to prove to you otherwise.

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Book review – The Technology Trap: Capital, Labor, and Power in the Age of Automation

8-minute read

The robot apocalypse has become a well-worn trope that will elicit laughter more than concern. But there is a far more direct threat from artificial intelligence or AI: economic disruption. Technology can and has taken jobs away from humans. I first started taking this idea more seriously after watching CGP Grey’s short documentary Human Needs Not Apply. If you enjoyed that video, this book is the must-read follow-up. Economist and historian Carl Benedikt Frey provides a soundly argued and clearly written book on the history of technological revolutions and what lessons these hold for future job security.

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Book review – Time and the Generations: Population Ethics for a Diminishing Planet

7-minute read

How many people can planet Earth support? That is the thorny question that economist Partha Dasgupta tackles in Time and the Generations. Or, as he asks: “How should we evaluate the ethics of procreation, especially the environmental consequences of reproductive decisions on future generations, in a resource-constrained world?” Given that I have previously called overpopulation the elephant in the room that few wish to address, my interest was immediately piqued.

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Book review – More from Less: The Surprising Story of How We Learned to Prosper Using Fewer Resources – And What Happens Next

8-minute read

More from Less makes the optimistic case that our impact on the planet is diminishing. We are past “peak stuff” and thanks to continued technological innovation our economy is dematerializing. That is to say, economic growth has become decoupled from resource consumption. Or, as the title puts it succinctly, we are getting more from less.

I was initially sceptical when I learned of this book. My outlook on the state of the world is not nearly as optimistic. So, from the blurb’s counterintuitive claim that “we’ve stumbled into an unexpected balance with nature”, to Steven Pinker’s triumphant endorsement that those who think we’re doomed by overpopulation and resource depletion are wrong – I was ready to go bananas on this book. But I would be a poor reviewer if I let my prejudices get the better of me.

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