extractivism

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This Changes Everything: Capitalism vs. The Climate by Naomi Klein

"World Economic Forum" Davos, 1960s counterculture, activist fund / activist shareholder / activist investor, An Inconvenient Truth, Anthropocene, battle of ideas, Berlin Wall, Big Tech, big-box store, bilateral investment treaty, Blockadia, Boeing 747, British Empire, business climate, Capital in the Twenty-First Century by Thomas Piketty, carbon credits, carbon footprint, carbon tax, clean tech, clean water, Climategate, cognitive dissonance, coherent worldview, colonial rule, Community Supported Agriculture, complexity theory, crony capitalism, decarbonisation, degrowth, deindustrialization, dematerialisation, different worldview, Donald Trump, Downton Abbey, Dr. Strangelove, electricity market, energy security, energy transition, equal pay for equal work, extractivism, Exxon Valdez, failed state, fake news, Fall of the Berlin Wall, feminist movement, financial deregulation, food miles, Food sovereignty, gentrification, geopolitical risk, global supply chain, green transition, high-speed rail, hydraulic fracturing, ice-free Arctic, immigration reform, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Jones Act, Kickstarter, Kim Stanley Robinson, land bank, light touch regulation, man camp, managed futures, market fundamentalism, Medieval Warm Period, Michael Shellenberger, military-industrial complex, moral hazard, Naomi Klein, new economy, Nixon shock, Occupy movement, ocean acidification, off-the-grid, offshore financial centre, oil shale / tar sands, open borders, patent troll, Pearl River Delta, planetary scale, planned obsolescence, post-oil, precautionary principle, profit motive, quantitative easing, race to the bottom, Ralph Waldo Emerson, Rana Plaza, remunicipalization, renewable energy transition, Ronald Reagan, Russell Brand, scientific management, smart grid, special economic zone, Stephen Hawking, Stewart Brand, structural adjustment programs, Ted Kaczynski, Ted Nordhaus, TED Talk, the long tail, the scientific method, The Wealth of Nations by Adam Smith, trade route, transatlantic slave trade, trickle-down economics, Upton Sinclair, uranium enrichment, urban planning, urban sprawl, vertical integration, Virgin Galactic, wages for housework, walkable city, Washington Consensus, Wayback Machine, We are all Keynesians now, Whole Earth Catalog, WikiLeaks

This carelessness is at the core of an economic model some political scientists call “extractivism,” a term originally used to describe economies based on removing ever more raw materials from the earth, usually for export to traditional colonial powers, where “value” was added. And it’s a habit of thought that goes a long way toward explaining why an economic model based on endless growth ever seemed viable in the first place. Though developed under capitalism, governments across the ideological spectrum now embrace this resource-depleting model as a road to development, and it is this logic that climate change calls profoundly into question. Extractivism is a nonreciprocal, dominance-based relationship with the earth, one purely of taking.

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ECUADOR: Nick Miroff, “In Ecuador, Oil Boom Creates Tensions,” Washington Post, February 16, 2014; BOLIVIA AND VENEZUELA: Dan Luhnow and José de Córdoba, “Bolivia Seizes Natural-Gas Fields in a Show of Energy Nationalism,” Wall Street Journal, May 2, 2006; ARGENTINA: “Argentine Province Suspends Open-Pit Gold Mining Project Following Protests,” MercoPress, January 31, 2012; “GREEN DESERTS”: “The Green Desert,” The Economist, August 6, 2004; BRAZIL: “The Rights and Wrongs of Belo Monte,” The Economist, May 4, 2013; RAW RESOURCES: Exports of Primary Products as Percentage of Total Exports, “Statistical Yearbook for Latin America and the Caribbean,” Economic Commission for Latin America and the Caribbean, United Nations, 2012, p. 101; CHINA: Joshua Schneyer and Nicolás Medina Mora Pérez, “Special Report: How China Took Control of an OPEC Country’s Oil,” Reuters, November 26, 2013. 45. Eduardo Gudynas, “Buen Vivir: Today’s Tomorrow,” Development 54 (2011): 442–43; Martínez in Temper et al., “Towards a Post-Oil Civilization,” p.17; Eduardo Gudynas, “The New Extractivism of the 21st Century: Ten Urgent Theses About Extractivism in Relation to Current South American Progressivism,” Americas Program Report, Washington, D.C.: Center for International Policy, January 21, 2010. 46. Personal interview with Alexis Tsipras, May 23, 2013. 47. Patricia Molina, “The ‘Amazon Without Oil’ Campaign: Oil Activity in Mosetén Territory,” in Temper et al., “Towards a Post-Oil Civilization,” p. 75. 48.

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The Right Is Right: The Revolutionary Power of Climate Change 2. Hot Money: How Free Market Fundamentalism Helped Overheat the Planet 3. Public and Paid For: Overcoming the Ideological Blocks to the Next Economy 4. Planning and Banning: Slapping the Invisible Hand, Building a Movement 5. Beyond Extractivism: Confronting the Climate Denier Within PART TWO MAGICAL THINKING 6. Fruits, Not Roots: The Disastrous Merger of Big Business and Big Green 7. No Messiahs: The Green Billionaires Won’t Save Us 8. Dimming the Sun: The Solution to Pollution Is . . . Pollution? PART THREE STARTING ANYWAY 9.

The Costs of Connection: How Data Is Colonizing Human Life and Appropriating It for Capitalism by Nick Couldry, Ulises A. Mejias

"World Economic Forum" Davos, 23andMe, Airbnb, Amazon Mechanical Turk, Amazon Web Services, behavioural economics, Big Tech, British Empire, call centre, Cambridge Analytica, Cass Sunstein, choice architecture, cloud computing, colonial rule, computer vision, corporate governance, dark matter, data acquisition, data is the new oil, data science, deep learning, different worldview, digital capitalism, digital divide, discovery of the americas, disinformation, diversification, driverless car, Edward Snowden, emotional labour, en.wikipedia.org, European colonialism, Evgeny Morozov, extractivism, fake news, Gabriella Coleman, gamification, gig economy, global supply chain, Google Chrome, Google Earth, hiring and firing, income inequality, independent contractor, information asymmetry, Infrastructure as a Service, intangible asset, Internet of things, Jaron Lanier, job automation, Kevin Kelly, late capitalism, lifelogging, linked data, machine readable, Marc Andreessen, Mark Zuckerberg, means of production, military-industrial complex, move fast and break things, multi-sided market, Naomi Klein, Network effects, new economy, New Urbanism, PageRank, pattern recognition, payday loans, Philip Mirowski, profit maximization, Ray Kurzweil, RFID, Richard Stallman, Richard Thaler, Salesforce, scientific management, Scientific racism, Second Machine Age, sharing economy, Shoshana Zuboff, side hustle, Sidewalk Labs, Silicon Valley, Slavoj Žižek, smart cities, Snapchat, social graph, social intelligence, software studies, sovereign wealth fund, surveillance capitalism, techlash, The Future of Employment, the scientific method, Thomas Davenport, Tim Cook: Apple, trade liberalization, trade route, undersea cable, urban planning, W. E. B. Du Bois, wages for housework, work culture , workplace surveillance

Thus, the appropriation of this resource is presented as something natural, with benefits for all of us. The transformation of “raw” data into a resource from which corporations can derive value is possible only through a material process of extraction, the second of the concepts we are discussing. As Naomi Klein observes, extractivism implies a “nonreciprocal, dominance-based relationship with the earth” that creates sacrifice zones, “places that, to their extractors, somehow don’t count and therefore can be . . . destroyed, for the supposed greater good of economic progress.”17 But extraction has also acquired new horizons.

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It is this shift that makes data colonialism such a threat to human life, for as Leanne Betasamosake Simpson argues, “The act of extraction removes all of the relationships that give whatever is being extracted meaning.”19 Life, extracted through data relations, acquires a devalued meaning and becomes a mere factor in capitalist production. Warnings about the perils of data extractivism are not new, as Evgeny Morozov reminds us.20 But we can now be more specific about how this process unfolds through a series of extractive rationalities that further justify exploitation, including • economic rationalities that frame the data we produce and the labor we contribute as valueless because they are generated through socialization and not paid work and therefore are available for capitalization by other parties; • legal rationalities that, as Julie Cohen argues,21 frame data as ownerless, redefining notions of privacy and property in order to establish a new moral order that justifies the appropriation of data; • developmental rationalities that present data colonialism as a civilizational project, carried out on behalf of underdeveloped subjects in the name of progress and safety; • cultural rationalities that promote “sharing” while lowering the value of privacy and raising the value of competitive self-presentation; and • technical rationalities that frame data appropriation as a legitimate goal of science, entrepreneurship, and human creativity.

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Warnings about the perils of data extractivism are not new, as Evgeny Morozov reminds us.20 But we can now be more specific about how this process unfolds through a series of extractive rationalities that further justify exploitation, including • economic rationalities that frame the data we produce and the labor we contribute as valueless because they are generated through socialization and not paid work and therefore are available for capitalization by other parties; • legal rationalities that, as Julie Cohen argues,21 frame data as ownerless, redefining notions of privacy and property in order to establish a new moral order that justifies the appropriation of data; • developmental rationalities that present data colonialism as a civilizational project, carried out on behalf of underdeveloped subjects in the name of progress and safety; • cultural rationalities that promote “sharing” while lowering the value of privacy and raising the value of competitive self-presentation; and • technical rationalities that frame data appropriation as a legitimate goal of science, entrepreneurship, and human creativity. These rationalities are more practical and specific than are the broad ideologies of data colonialism mentioned in chapter 1. They help make all the small choices involved with data relations seem rational and common sense. The 4X’s of Data Extractivism Looking at data relations with colonial precedents explicitly in mind, as we do in this section, helps us see how it is that the extractive rationalities mentioned above are being actualized in the banal habits of data relations. Our goal in doing so is not to provide a conclusive compendium of analogues but rather to select certain moments in the history of colonialism and describe their reverberations today in a way that evokes the persistence of appropriation and extraction.

Big Data Analytics: Turning Big Data Into Big Money by Frank J. Ohlhorst

algorithmic trading, bioinformatics, business intelligence, business logic, business process, call centre, cloud computing, create, read, update, delete, data acquisition, data science, DevOps, extractivism, fault tolerance, information security, Large Hadron Collider, linked data, machine readable, natural language processing, Network effects, pattern recognition, performance metric, personalized medicine, RFID, sentiment analysis, six sigma, smart meter, statistical model, supply-chain management, warehouse automation, Watson beat the top human players on Jeopardy!, web application

A WEALTH OF PUBLIC INFORMATION For those looking to sample what is available for Big Data analytics, a vast amount of data exists on the Web; some of it is free, and some of it is available for a fee. Much of it is simply there for the taking. If your goal is to start gathering data, it is pretty hard to beat many of the tools that are readily available on the market. For those looking for point-and-click simplicity, Extractiv (http://www.extractiv.com) and Mozenda (http://www.mozenda.com) offer the ability to acquire data from multiple sources and to search the Web for information. Another candidate for processing data on the Web is Google Refine (http://code.google.com/p/google-refine), a tool set that can work with messy data, cleaning them up and then transforming them into different formats for analytics. 80Legs (http://www.80legs.com) specializes in gathering data from social networking sites as well as retail and business directories.

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Of course, other tools exist, and new ones are coming to market all of the time. As those tools mature and become accessible to the SMB market, more opportunities will arise for SMBs to leverage the Big Data concept. Gathering the data is usually half the battle in the analytics game. SMBs can search the Web with tools like 80Legs, Extractiv, and Needlebase, all of which offer capabilities for gathering data from the Web. The data can include social networking information, sales lists, real estate listings, product lists, and product reviews and can be gathered into structured storage and then analyzed. The gathered data prove to be a valuable resource for businesses that look to analytics to enhance their market standings.

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See also Hadoop Dynamo E e-commerce Economist e-discovery Education 80Legs Electronic medical records compliance data errors data extraction privacy issues trends Electronic transactions EMC Corporation Employees data analytics team membership monitoring of training Encryption Entertainment industry Entity extraction Entity relation extraction Errors Event-driven data distribution Evidence-based medicine Evolution of Big Data algorithms current issues future developments modern era origins of Expectations Expediency-accuracy tradeoff External data Extract, transform, and load (ETL) Extractiv F Facebook Filters Financial controllers Financial sector Financial transactions Flexibility of storage systems 4Vs of Big Data G Gartner General Electric (GE) Gephi Goal setting Google Google Books Ngrams Google Refine Governance Government agencies Grep H Hadoop advantages and disadvantages of design and function of event-processing framework future origins of vendor support Yahoo’s use HANA HBase HDFS Health care Big Data analytics opportunities Big Data trends compliance evolution of Big Data See also Electronic medical records Hibernate High-value opportunities History.

Border and Rule: Global Migration, Capitalism, and the Rise of Racist Nationalism by Harsha Walia

anti-communist, antiwork, Berlin Wall, Bernie Sanders, Black Lives Matter, blood diamond, borderless world, Boris Johnson, Brexit referendum, British Empire, California gold rush, clean water, climate change refugee, collective bargaining, colonial rule, contact tracing, coronavirus, COVID-19, crack epidemic, dark matter, decarbonisation, deindustrialization, Donald Trump, drone strike, Elon Musk, European colonialism, eurozone crisis, export processing zone, extractivism, fake news, Fall of the Berlin Wall, Food sovereignty, G4S, gentrification, George Floyd, global pandemic, global supply chain, Global Witness, green new deal, guest worker program, illegal immigration, immigration reform, income inequality, informal economy, Jeff Bezos, Jeremy Corbyn, joint-stock company, land reform, late capitalism, lockdown, mandatory minimum, mass immigration, mass incarceration, means of production, microcredit, military-industrial complex, Monroe Doctrine, moral panic, Naomi Klein, neoliberal agenda, Occupy movement, ocean acidification, oil shale / tar sands, open borders, pension reform, Rana Plaza, Richard Florida, Ronald Reagan, Shoshana Zuboff, social distancing, special economic zone, Steve Bannon, strikebreaker, structural adjustment programs, surveillance capitalism, trade liberalization, transatlantic slave trade, transcontinental railway, union organizing, upwardly mobile, urban planning, W. E. B. Du Bois, wages for housework, Washington Consensus, women in the workforce

This manifests in working-class struggles animated by race and nationality or eco-fascist trends in environmental movements, described in chapter 11. But right-wing nationalism—pitting whites against racialized people, migrant workers against unionized workers, refugees against citizens, the West against the rest—is a ruling-class ideology. It breaks internationalist solidarity, lowers the wage floor for all workers, and maintains extractivism and exclusion in a warming world. Right-wing nationalism purports to defend the working class but is vehemently anticommunist. The politics of fear is a distracting cover for inequality and is a material basis for the disenfranchisement of racialized communities and exploitation of racialized workers.

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That same year, Duterte became an overnight international environmental hero after threatening to declare war on Canada for dumping one hundred containers of nonrecyclable waste on the Philippines. The president, though, is no environmentalist. The Lumad people continue to face threats to their lands and livelihoods from extractivism, and have long been fighting to uphold their customary laws and cultures against a “systemic war of extinction.”50 Threats to their communal lands have increased under the forces of transnational capitalist plunder. Copper, nickel, gold, chromite, coal, and gas are mined and extracted, and communal lands are declared uncultivated and turned over by the state to agribusinesses to export oil, bananas, rubber, and pineapples.

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Two essential anticolonial reorientations for settlers laboring on Indigenous lands are, first, the recognition of Indigenous land defense as generative labor and, second, solidarity with Indigenous blockades as picket lines preventing state and capital’s expropriation of land by asserting legitimate Indigenous jurisdiction. This is urgent because in this time of frontier extractivism, the price for Indigenous caretaking labor and land stewardship is high. Across Turtle Island, warriors in the Idle No More, Protect Mauna Kea, Standing Rock, Stop Keystone XL, Tiny House Warriors, and Wet’suwet’en movements have faced the intensity of armed state repression. Worldwide, the horrific murders of environmental land defenders, overwhelmingly Indigenous resisters, has doubled over the past fifteen years, with four people killed every week, and land defenders making up 40 percent of targeted killings of all human rights defenders in 2019.47 Far-right revanchism is, in conclusion, inseparable from the making of class identity through race, the scapegoating of foreigners solidifying antimigrant xenophobia, and the reproduction of settler entitlement.

Less Is More: How Degrowth Will Save the World by Jason Hickel

air freight, Airbnb, Anthropocene, basic income, Bernie Sanders, Big bang: deregulation of the City of London, biodiversity loss, Boris Johnson, Bretton Woods, British Empire, capital controls, circular economy, cognitive dissonance, coronavirus, corporate governance, corporate personhood, cotton gin, COVID-19, David Graeber, decarbonisation, declining real wages, degrowth, deindustrialization, dematerialisation, disinformation, Elon Musk, energy transition, Extinction Rebellion, extractivism, Fairphone, Fellow of the Royal Society, flying shuttle, Fractional reserve banking, Francis Fukuyama: the end of history, full employment, gender pay gap, green new deal, Greta Thunberg, income inequality, Intergovernmental Panel on Climate Change (IPCC), invention of the steam engine, James Watt: steam engine, Jeff Bezos, Jevons paradox, John Maynard Keynes: Economic Possibilities for our Grandchildren, land reform, liberal capitalism, lockdown, longitudinal study, low interest rates, Mahatma Gandhi, Mark Zuckerberg, McMansion, means of production, meta-analysis, microbiome, Money creation, moral hazard, mortgage debt, Murray Bookchin, Naomi Klein, negative emissions, new economy, ocean acidification, offshore financial centre, oil shale / tar sands, opioid epidemic / opioid crisis, out of africa, passive income, planetary scale, planned obsolescence, plutocrats, Post-Keynesian economics, quantitative easing, rent control, rent-seeking, retail therapy, Ronald Reagan, Rupert Read, Scramble for Africa, secular stagnation, shareholder value, sharing economy, Simon Kuznets, structural adjustment programs, the scientific method, The Spirit Level, transatlantic slave trade, trickle-down economics, universal basic income

It means using tariffs and subsidies to protect and encourage domestic industries. It means decent wages, labour laws and a progressive distribution of national income. And it means building economies that are organised around renewable energy and ecological regeneration rather than around fossil fuels and extractivism. It’s important to remember that many of these policies were used widely across the South in the post-colonial decades, from the 1950s to the 1970s, before that vision was dismantled by structural adjustment programmes from the 1980s onwards. A few countries managed to escape this fate. Costa Rica was one of them.

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Remember, excess consumption in high-income nations is sustained by an ongoing process of net appropriation from the lands and peoples of the global South, on unequal terms. Colonialism as such may have ended half a century ago, but – as we’ve seen – those old patterns of plunder continue to this day, with ruinous consequences. To the extent that degrowth in high-income nations releases global South communities from the grip of extractivism, it represents decolonisation in the truest sense of the term. * My years of researching degrowth have given me something I didn’t really expect – hope. And yet I have nonetheless found myself worrying, from time to time, that something is still missing. By focusing all our attention on how to fix the economy, we risk ignoring the bigger picture.

Road to Nowhere: What Silicon Valley Gets Wrong About the Future of Transportation by Paris Marx

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, A Declaration of the Independence of Cyberspace, Airbnb, An Inconvenient Truth, autonomous vehicles, back-to-the-land, Berlin Wall, Bernie Sanders, bike sharing, Californian Ideology, car-free, carbon credits, carbon footprint, cashless society, clean tech, cloud computing, colonial exploitation, computer vision, congestion pricing, corporate governance, correlation does not imply causation, COVID-19, DARPA: Urban Challenge, David Graeber, deep learning, degrowth, deindustrialization, deskilling, Didi Chuxing, digital map, digital rights, Donald Shoup, Donald Trump, Douglas Engelbart, Douglas Engelbart, driverless car, Elaine Herzberg, Elon Musk, energy transition, Evgeny Morozov, Extinction Rebellion, extractivism, Fairchild Semiconductor, Ford Model T, frictionless, future of work, General Motors Futurama, gentrification, George Gilder, gig economy, gigafactory, global pandemic, global supply chain, Google Glasses, Google X / Alphabet X, green new deal, Greyball, high-speed rail, Hyperloop, independent contractor, Induced demand, intermodal, Jane Jacobs, Jeff Bezos, jitney, John Perry Barlow, Kevin Kelly, knowledge worker, late capitalism, Leo Hollis, lockdown, low interest rates, Lyft, Marc Benioff, market fundamentalism, minimum viable product, Mother of all demos, move fast and break things, Murray Bookchin, new economy, oil shock, packet switching, Pacto Ecosocial del Sur, Peter Thiel, pre–internet, price mechanism, private spaceflight, quantitative easing, QWERTY keyboard, Ralph Nader, Richard Florida, ride hailing / ride sharing, Ronald Reagan, safety bicycle, Salesforce, School Strike for Climate, self-driving car, Sidewalk Labs, Silicon Valley, Silicon Valley billionaire, Silicon Valley ideology, Silicon Valley startup, smart cities, social distancing, Southern State Parkway, Steve Jobs, Stewart Brand, Stop de Kindermoord, streetcar suburb, tech billionaire, tech worker, techlash, technological determinism, technological solutionism, technoutopianism, the built environment, The Death and Life of Great American Cities, TikTok, transit-oriented development, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Unsafe at Any Speed, urban planning, urban renewal, VTOL, walkable city, We are as Gods, We wanted flying cars, instead we got 140 characters, WeWork, Whole Earth Catalog, Whole Earth Review, work culture , Yom Kippur War, young professional

In Alberta, vast tailings ponds that are left over from bitumen extraction pollute the environment; in the Gulf of Mexico, the effects of the BP oil spill are still being felt more than a decade later; throughout North America, Indigenous groups and activists are constantly trying to stop the construction of pipelines because of the harm and risk they present for their communities; and that does not even consider the harm that has been wrought in the Global South by mining and oil companies. Riofrancos warned that a transport system centered around electric vehicles risks creating a green extractivism that subordinates “human rights and ecosystems to endless extraction in the name of ‘solving’ climate change,” thereby ignoring “the very real harm it inflicts on humans, animals, and ecosystems.”24 With the interests of tech, automakers, and other influential industries aligning behind electric vehicles, and neoliberal governments seeing them as a means to make it appear as though they are doing something concrete to address climate change while trying to increase employment in manufacturing and resource sectors, there is a clear incentive to downplay environmental harms.

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., Deliveringcommunitypower.ca; Paris Marx, “Build Socialism Through the Post Office,” Jacobin, April 15, 2020, Jacobinmag.com. 24 See Salomé Viljoen, “Data as Property?,” Phenomenal World, October 16, 2020, Phenomenalworld.org. 25 Aaron Benanav, “How to Make a Pencil,” Logic Magazine, December 20, 2020, Logicmag.io. 26 Le Guin, “A Rant About ‘Technology.’” 27 Thea Riofrancos, Resource Radicals: From Petro- Nationalism to Post-Extractivism in Ecuador, Duke University Press, 2020. 28 Ursula K. Le Guin, “The Ones Who Walk Away from Omelas,” in New Dimensions 3, ed. Richard Silverberg, Nelson Doubleday, 1973, p. 6. 29 Ibid., p. 7. Conclusion 1 “Announcing Sidewalk Toronto: Press Conference Live Stream,” Sidewalk Labs, October 17, 2017, YouTube.com. 2 Saadia Muzaffar, “My Full Resignation Letter from Waterfront Toronto’s Digital Strategy Advisory Panel,” Medium, October 8, 2018, Medium.com. 3 “Vision Sections of RFP Submission,” Sidewalk Labs, October 17, 2017, Sidewalklabs.com. 4 “Concerned Torontonians Launch #BlockSidewalk Campaign,” Block Sidewalk, February 25, 2019, Blocksidewalk.ca. 5 Laura Bliss, “Meet the Jane Jacobs of the Smart Cities Age,” CityLab, December 21, 2018, Bloomberg.com. 6 Dave Yasvinski, “Waterfront Toronto Releases New Vision for 12 Acres Abandoned by Sidewalk Labs,” National Post, March 10, 2021, Nationalpost.com.

Stolen: How to Save the World From Financialisation by Grace Blakeley

"Friedman doctrine" OR "shareholder theory", activist fund / activist shareholder / activist investor, asset-backed security, balance sheet recession, bank run, banking crisis, banks create money, Basel III, basic income, battle of ideas, Berlin Wall, Big bang: deregulation of the City of London, Big Tech, bitcoin, bond market vigilante , Bretton Woods, business cycle, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, capitalist realism, Carmen Reinhart, central bank independence, collapse of Lehman Brothers, collective bargaining, corporate governance, corporate raider, credit crunch, Credit Default Swap, cryptocurrency, currency peg, David Graeber, debt deflation, decarbonisation, democratizing finance, Donald Trump, emotional labour, eurozone crisis, Extinction Rebellion, extractivism, Fall of the Berlin Wall, falling living standards, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, fixed income, full employment, G4S, gender pay gap, gig economy, Gini coefficient, global reserve currency, global supply chain, green new deal, Greenspan put, housing crisis, Hyman Minsky, impact investing, income inequality, inflation targeting, Intergovernmental Panel on Climate Change (IPCC), Jeremy Corbyn, job polarisation, junk bonds, Kenneth Rogoff, Kickstarter, land value tax, light touch regulation, low interest rates, low skilled workers, market clearing, means of production, Modern Monetary Theory, money market fund, Mont Pelerin Society, moral hazard, mortgage debt, negative equity, neoliberal agenda, new economy, Nixon triggered the end of the Bretton Woods system, Northern Rock, offshore financial centre, paradox of thrift, payday loans, pensions crisis, Phillips curve, Ponzi scheme, Post-Keynesian economics, post-war consensus, price mechanism, principal–agent problem, profit motive, quantitative easing, race to the bottom, regulatory arbitrage, reserve currency, Right to Buy, rising living standards, risk-adjusted returns, road to serfdom, Robert Solow, savings glut, secular stagnation, shareholder value, Social Responsibility of Business Is to Increase Its Profits, sovereign wealth fund, the built environment, The Great Moderation, too big to fail, transfer pricing, universal basic income, Winter of Discontent, working-age population, yield curve, zero-sum game

Financialised capitalism may be a uniquely extractive way of organising the economy, but this is not to say that it represents the perversion of an otherwise sound model. Rather, it is a process that has been driven by the logic of capitalism itself. As their economic model has developed, the owners of capital have sought out ever more ingenious ways to maximise returns, with financial extractivism the latest fix. In many ways finance-led growth represents capitalism’s most perfect incarnation — a system in which profits seem to appear out of thin air, even as these gains really represent value extracted from workers, now and in the future. The Interregnum The financial crisis was the beginning of the end for finance-led growth.

No Is Not Enough: Resisting Trump’s Shock Politics and Winning the World We Need by Naomi Klein

"Hurricane Katrina" Superdome, "World Economic Forum" Davos, Airbnb, antiwork, basic income, battle of ideas, Berlin Wall, Bernie Sanders, Black Lives Matter, Brewster Kahle, carbon tax, Carl Icahn, Celebration, Florida, clean water, collective bargaining, Corrections Corporation of America, data science, desegregation, Donald Trump, drone strike, Edward Snowden, Elon Musk, end-to-end encryption, energy transition, extractivism, fake news, financial deregulation, gentrification, Global Witness, greed is good, green transition, high net worth, high-speed rail, Howard Zinn, illegal immigration, impact investing, income inequality, Internet Archive, Kickstarter, late capitalism, Mark Zuckerberg, market bubble, market fundamentalism, mass incarceration, megaproject, Mikhail Gorbachev, military-industrial complex, moral panic, Naomi Klein, Nate Silver, new economy, Occupy movement, ocean acidification, offshore financial centre, oil shale / tar sands, open borders, Paris climate accords, Patri Friedman, Peter Thiel, plutocrats, private military company, profit motive, race to the bottom, Ralph Nader, Ronald Reagan, Saturday Night Live, sexual politics, sharing economy, Silicon Valley, Steve Bannon, subprime mortgage crisis, tech billionaire, too big to fail, trade liberalization, transatlantic slave trade, Triangle Shirtwaist Factory, trickle-down economics, Upton Sinclair, urban decay, W. E. B. Du Bois, women in the workforce, working poor

And for many of us, this comes as a cosmic relief—at last, a set of demands that actually acknowledges how much and how fast we need to change. The Leap rings true because it sees the climate crisis not as a technical problem to be solved by engineers, but as a crisis of a system and an economic philosophy. The Leap identifies the root cause of the climate crisis—and it’s the dominant economic logic of our time: extractivism to feed perpetual growth rooted in ever-increasing consumption…. That’s a scary level of change, but it’s honest. And people know in their bones that it’s the kind of change we need. Before releasing it to the public, we asked many organizations and trusted public figures to become initiating signatories.