I guess I should be glad this appears here from a business journal. But, damn, are these folks maintaining permanent residency under a rock somewhere?
If there is not serious contraction of all, out of control, predatory capitalist economies by ten years from now the ten years after that are going to make up for it. Climate disasters and rising sea levels require immediate carbon reduction and even then we are going to see nothing but steadily growing disasters.
The elimination of all fossil fuel use needs to be completed as soon as possible. That will devastate the poorly designed economies based on the fantasy of growth. Alternatives are coming on quickly but not at the rate needed to make a difference until they are mandated and/or all uncooperative companies are nationalized.
And that shows the true size of the problem. ‘Nationalization’ is completely unreliable. Power and all essential services need ‘planetization’.
At the new identified rate of global warming the size of refugee populations alone will devastate the old nation states. Slow growth is neither adequate to meet changing needs nor even possible with regional disruptions.