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Future History

Net Futures - The 2024 Report

Back in 1984 , Norman and Chris  Macrae wrote "The 2024 Report: a future history of the next 40 years". It was the first book to:

  • provide readers with a brainstorming journey of what people in an internetworking world might do
  • predict that a new economy would emerge with revolutionary new productivity and social benefits enjoyed by all who interacted in a net-connected world

Our 1984 scenario of an internetworking world

Changing communications, and what makes people distant, bossy, etc

Changing national politics

Changing economics

Changing employment

Changing education

Our 1984 scenario of an internetworking world

The great technological event of the next 40 years will be the steady rise in importance of the Telecommunications-Computer terminal (TC for short)... Eventually books, files, television programmes, computer information and telecommunications will merge. We'll have this portable object which is a television screen with first a typewriter, later a voice activator attached. Afterwards it will be minaturised so that your personal access instrument can be carried in your buttonhole, but there will be these cheap terminals around everywhere, more widely than telephones of 1984. The terminals will be used to access databases anywhere in the globe, and will become the brainworker's mobile place of work. Brainworkers, which will increasingly mean all workers, will be able to live in Tahiti if they want to and telecommute daily to the New York or Tokyo or Hamburg office through which they work. In the satellite age costs of transmission will not depend mainly on distance. And knowledge once digitalised can be replicated for use anywhere almost instantly.

Over the last decade, I have written many articles in The Economist and delivered lectures in nearly 30 countries across the world saying the future should be much more rosy. This book explores the lovely future people could have if only all democrats made the right decisions.

...map3billionjobs3.jpg.

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Norman Macrae, 1984.

Changing communications, and what makes people distant, bossy etc

Telecommunications are now recognised as the third of the three great transport revolutions that have, in swift succession, transformed society in the past two hundred years. First, were the railways; second the automobile; and third, telecommunications-attached-to-the-computer, which was bound to be the most far-reaching because in telecommunications, once the infrastructure is installed, the cost of use does not depend greatly on distance. So by the early years of the twenty-first century brainworkers - which in rich countries already meant most workers - no longer need to live near their work.

All three revolutions were opposed by the ruling establishments of their time, and therefore emerged fastest where government was weak. All three brought great new freedoms to the common man, but the railway and motor-car ages temporarily made access to capital the most important source of economic power. As most men and women did not like being bossed about by capitalists who could become more powerful because they were born stinking rich, they voted to give greater economic power to governments during the railway and motor-car ages. This was economically inefficient, and also made tyrannies more likely and more terrible. The information revolution was fortunately the exact opposite of the steam engine's industrial revolution and of Henry Ford's mass production automobile revolution in this respect. The steam engine and mass production has made start-up costs for the individual entrepreneur larger and larger, so that in both the steam and automobile ages to quote Bell Canada's Gordon Thompson in the early 1970s, there was 'no way an ordinary citizen could walk into a modern complex factory and use its facilities to construct something useful for himself'. But, as Thompson forecast, the databases of the next decades were places into which every part-time enthusiast could tele-commute. In all jobs connected with the use of information, start-up costs for the individual entrepreneur in 1984-2024 have grown smaller and smaller. It was 'never thus', said Thompson, 'with power shovels and punch presses'.

In consequence, in the TC age, the most important economic resource is no longer ownership of or access to capital, but has become the ability to use readily available knowledge intelligently and entrepreneurially.

Changing national politics

For a region's people to succeed in the Telecommuting Age there are four main requirements - satisfied in places as far apart ad Guam and Queensland and Cape Province and California and Penang and Scotland. First , as the prophet John Naisbitt said in 1982, 'the languages needed for the immediate future are computer and English'. Second, the area has to be a nice one in which to live. Third, it is important that all income earners should adapt happily to a 'cafeteria of compensation' schemes. These allow the individual employee to decide what mix (s)he wants of salary, job objectives, career aims, flexitime, job sharing, long or short holidays, fringe benefits or fringe nuisances. Fourth, there needs to be a competitive and quickly changing telecommunications system. The TC age is making understanding of these requirements increasingly transparent among human beings worldwide.

Governments at first tried to impede or regulate much of this, but an early discovery of the Telecommutung age was that we could change the way we chose our governments. Until the 1990s we had pretended to ourselves that we could alter our lifestyles by choosing on each Tuesday or Thursday every four years whether Mr Reagan or Mr Carter , Mrs Thatcher or Mr Kinnock, was putting on the tribal demonstration which at that particular moment annoyed us less. After the advent of the TC we found that the more sensible and direct way in which a free man or woman could choose government was by voting with his or her feet. The individual could go to live in any area where the government - which could from then on be a very local government - permitted the lifestyle, rules and customs which suited that human being.

Changing Economics

The introduction of the international Centrobank was the last great act of government before government grew much less important. It was not a conception of policy-making governments at all, but emerged from the first computerised town meeting of the world.

By 2005 the gap in income and expectations between the rich and poor nations was recognised to be man's most dangerous problem. Internet linked television channels in sixty-eight countries invited their viewers to participate in a computerised conference about it, in the form of a series of weekly programmes. Recommendations tapped in by viewers were tried out on a computer model of the world economy. If recommendations were shown by the model to be likely to make the world economic situation worse, they were to be discarded. If recommendations were reported by the model to make the economic situation in poor countries better, they were retained for 'ongoing computer analysis' in the next programme.

In 2024 it is easy to see this as a forerunner of the TC conferences which play so large a part in our lives today, both as pastime and principal innovative device in business. But the truth of this 2005 breakthrough tends to irk the highbrow. It succeeded because it was initially a rather downmarket network television programme. About 400 million people watched the first programme, and 3 million individuals or groups tapped in suggestions. Around 99 per cent of these were rejected by the computer as likely to increase the unhappiness of mankind. It became known that the rejects included suggestions submitted by the World Council of Churches and by many other pressure groups. This still left 31,000 suggestions that were accepted by the computer as worthy of ongoing analysis. As these were honed, and details were added to the most interesting, an exciting consensus began to emerge. Later programmes were watched by nearly a billion people as it became recognised that something important was being born.

These audiences were swollen by successful telegimmicks. The presenter of the first part of the first programme was a roly-poly professor who was that year's Nobel laureate in economics, and who proved a natural television personality. He explained that economists now agreed that aid programmes could sometimes help poor countries, but sometimes most definitely made their circumstances worse. When Mexico was inflating at over 80 per cent a year in the early 1980s , the inflow to it of huge loanable funds made its inflation even faster and its crash more certain. The professor set Mexico's 1979-1981 economy on the model, pumped in the loaned funds and showed how all the indicators ( higher inflation, lower real gross domestic product and so on) then flashed red, signaling an economy getting worse, rather than green, signaling an economy getting better. ..The professor then put the model back to mirror the contemporary world of 2005, and played into it various nostrums that had been recommended by politicians of left, right and centre, but mostly left. The dials generally flashed red. Then the professor provided another set of recommendations , and asked viewers who wished to play to tap in their own guesses on the consequent movement of key economics variables in the model. Those who got their guesses right to within a set error were told they had qualified for a second round of a knock-out economic guesstimators' world championship. Knockout competitions of this sort continued for viewers throughout the series of programmes.

In the second part of that first programme, the presenters dared to introduce two political decisions into the game. They said that government-to-government aid programmes had been particularly popular among politicians during the age of over-government, but there was growing agreement that government-to-government aid was the worst method of hand-out. The excessive role played by governments in poor countries was one of the barriers to their economic advance, and a main destroyer of their people's freedom. Could anyone have thought it would be wise to give aid to President Mbogo?

In consequence, the most successful economic aid programmes had been those operated through the International Monetary Fund, which imposed conditions on how borrowing governments should operate. The professor showed that IMF-monitored operations in most years had brought more green flashes from the model than red. But this involved IMF officials - often from the rich countries - in telling governments of poor countries what to do; and one of the objectives of this town meeting of the world was to diminish such embarrassments.

The first questions to be asked in the next few programmes, said the compilers, were 1) which countries should qualify for aid? ; and having decided that, 2) up to what limits and conditions? ; and 3) through what mechanisms? They promised that later programmes after the first half-dozen would examine how any scheme could be used to diminish the power of governments and increase the power of free markets and free people.

Changing employment

In a typical 21st C scene, obedience to consumer needs is shown by every car plant in the world because of better and more customised information available on all our TCs. Most people buying a car in 2024 will key into their special requirements into their TCs.

The TC will reply: "You can get a customised car which meets all of your specifications by putting personalised instructions on the software of the assembly line's robots in one of these factories (choice of nine) requesting that the next car on the line be modified as you dictate. But that would cost up to $40,000 (Click to factories for quotations and credit facilities). For a fifth of that price, you can meet most of your requirements by the following standard computer programme at present scheduled for production in June at Nissan Kanpur; or July at Ford Manila (and so on). Click to factories for precise specifications and prices.

All of this has become commonplace after 2000. How has it affected employment?

For a new industry of 2019-2024 let us cite the intendedly short-lived example of the Clark-Schmidt Robot Gardener. Matthew Clark was a 53-year old on his third university course (he had started the other two at the ages of nineteen and thirty-seven respectively) telecommuted through the University of Southern California, although he took it while living in his native Australia , when, together with two other student's telecommuting through USC's database, he devised a system for a robot-driven lawnmower which could also scan soil and assess the possibilities for reseeding. It signaled the videos to be called up on your TC to show alternative uses for the soil in your garden. If you picked one video display that particularly suited your taste, you keyed in its number into the Robot Gardener and it signaled back, 'put such-and-such chemical into my tank and seeds 1234, 3456 (et cetera), plus software program 29387 - both orderable through your TC - into my reseeder.'

Clark and his two colleagues put their tentative ideas for this device on the researchers' database monitored by the University of Southern California. The entry numbers to the USC database were held by people who had promised to accept the computer's judgement of the value of any ideas they might contribute to projects entered on it. In all, 1213 people - domiciled from Hanoi through Penang and Capri and Bermuda back to Queensland in Australia itself - tapped in suggestions for improvements, of which 176 were accepted nby the computer as worthwhile. The payments recommended by the computer ranged from $42 ( for a cosmetic improvement recommended by an eleven-year-old schoolboy) to one tenth of the equity (eventually worth several million dollars) for a proposal by a research team from another telecommuting university which proved important enough for Clark to feel slightly guilty about calling the Robot Gardener after himself.

When the improvements suggested by these 176 contributors had been incorporated by Clark into the appropriate software program for making the Robot Gardener , it was advertised on USC's entrepreneur-browsing program available on any TC. Entry numbers for the lowest echelons of this can be bought for a very few dollars, but the Robot Gardener was put on a higher echelon because USC's computer had signaled this was a potential quick winner.

One of those who had paid for an expensive entry number into browsing among good 'proffered opportunity products' (POPs) was a Dutchman called Carl Schmidt. He had become a successful 'arranging producer' in an earlier venture, and now occupied himself browsing through his TC looking for a second bonanza. He made an offer to Clark to tale an option for launch in return for a fairly complicates programme of profit sharing, which in practice (because arranging is nowadays a more skilled job than inventing) eventually gave Schmidt more money than Clark. Clark accepted this and Schmidt produced a prototype within three days by reprogramming robots in an experimental plant. A video of the prototype was put on consumers' TC channels worldwide the next week, and most of the 400 odd gardeners' TC channels round the world picked it out within days as a 'best buy'.

Schmidt's video advertisement said 'If you key in your order now with your credit number, you can get a Robot Gardener for a bargain price (applies to the first 10,000 orders only). Tenders are also invited for part of the equity.' The advance orders and bids for equity made it possible to finance assembly of the Robot Gardener for early-bid customers within a few weeks...

Note that there was never any intention that Robot Gardeners Inc should grow into a huge and long-lasting company. Clark and Schmidt are already researching and browsing into other possibilities, on separate courses. About fifty of those who succeeded by early participation in this venture hope to become the equivalent of Clark and Schmidt in other things.

At no stage has this enormously successful manufacturing venture employed more than 1000 people. It is therefore true that the loss of nine-tenths of manufacturing jobs , which we saw has been highest in car-making in rich countries, has also been true there in manufacturing jobs as a whole. Where these countries had 20-40 per cent of their workforces in manufacturing in 1974, they typically have 2-4 per cent now.

This is not an unprecedented rundown. In the 1890s around half of the workforce in countries like the United States were in three occupations: agriculture, domestic service and jobs to do with horse transport. By the 1970s these three were down to 4 per cent of the workforce. If this had been foretold in the 1890s, there would have been a wail. It would have been said that half the population was fit only to be farmworkers, parlourmaids and sweepers-up of horse manure. Where would this half find jobs? The answer was by the 1970s the majority of them were much more fully employed ( because more married women joined the workforce) doing jobs that would have sounded double-Dutch in the 1890s: extracting oil instead of fish out of the North Sea; working as computer programmers, or as television engineers, or as package-holiday tour operators chartering jet aircraft.

The move in jobs in the past fifty years in the rich countries has been out of manufacturing and into telecommuting.

Changing education

There has been a sea-change in the traditional ages on man. Compared with 1974 our children in 2024 generally go out to paid work (especially computer programming work) much earlier, maybe starting at nine, maybe at twelve, and we do not exploit them. But young adults of twenty-three to forty-five stay at home to play much more than in 1974; it is quite usual today for one parent (probably now generally the father, although sometimes the mother) to stay at home during the period when young children are growing up. And today adults of forty-three to ninety-three go back to school - via computerised learning - much more than they did in 1974.

In most of the rich countries in 2024 children are not allowed to leave school until they pass their Preliminary Exam. About 5 per cent of American children passed their exam last year before their eight birthday, but the median age for passing it in 2024 is ten-and-a-half, and remedial education is generally needed if a child has not passed it by the age of fifteen.

A child who passes his Prelim can decide whether to tale a job at once, and take up the remainder of his twelve years of free schooling later; or he can pass on to secondary schooling forthwith, and start to study for his Higher Diploma.

The mode of learning for the under-twelves is nowadays generally computer-generated. The child sits at home or with a group of friends or (more rarely) in an actual, traditional school building. She or he will be in touch with a computer program that has discovered , during a preliminary assessment, her or his individual learning pattern. The computer will decide what next questions to ask or task to set after each response from each child.

A school teacher assessor, who may live half a world away, will generally have been hired, via the voucher system by the family for each individual child. A good assessor will probably have vouchers to monitor the progress of twenty-five individual children, although some parents prefer to employ groups of assessors - one following the child's progress in emotional balance, one in mathematics, one in civilized living, and so on - and these groups band together in telecommuting schools.

Many communities and districts also have on-the-spot 'uncles' and 'aunts'. They monitor childrens' educational performance by browsing through the TC and also run play groups where they meet and get to know the children personally...

Some of the parents who have temporarily opted out of employment to be a family educator also put up material on the TC s for other parents to consult. Sometimes the advice is given for free, sometimes as a business. It is a business for Joshua Ginsberg. He puts a parents advice newsletter on the TC , usually monthly. Over 300,000 people subscribe to it, nowadays at a 25-cent fee per person, or less if you accept attached advertisements. Here's an entry from the current newsletter:

"Now that TCs are universal and can access libraries of books, 3-d video, computer programs, you name it, it is clear that the tasks of both the Educator and the Communicator are far more stimulating that ten years ago.

One of my recent lessons with my ten-year-old daughter Julie was in art appreciation. In the standard art appreciation course the TC shows replicas of famous artists' pictures, and a computer asks the pupil to match the artist to the picture. Julie said to the computer that it would be fun to see Constable's Haywain as Picasso might have drawn it. The computer obliged with its interpretation , and then ten more stylised haywains appeared together with the question 'who might have drawn these?'. I believe we are the first to have prompted the TC along this road, but it may now become a standard question when the computer recognises a child with similar learning patterns to Julie's.

It is sometimes said that today's isolated sort of teaching has robbed children of the capacity to play and interact with other children. This is nonsense. We ensure that Julie and her four year old brother Pharon have lots of time to play with children in our neighbourhood . But in work we do prefer to interact with children who are of mutual advantage to Julie and to each other. The computer is an ace teacher, but so are people. You really learn things if you can teach them to someone else. Our computer has helped us to find a group of four including Julie with common interests, who each have expertise in some particular areas to teach the others.

The TC also makes it easier to play games within the family. My parents used to play draughts, halma, then chess with me. They used to try to be nice to me and let me win. This condescending kindness humiliated me, and I always worked frenetically to beat my younger brother (who therefore always lost and dissolved into tears.) Today Julie, Pharon and I play halma together against the graded computer, and Julie and I play it at chess. The computer knows Pharon's standard of play at halma and Julie's and mine at chess. Its default setting is at that level where each of us can win but only if we play at our best. Thus Pharon sometimes wins his halma game while Julie and I are simultaneously losing our chess game, and this rightly gives Pharon a feeling of achievement. When Julie and I have lost at chess, we usually ask the computer to re-rerun the game, stopping at out nmistakes and giving a commentary. As it is a friendly computer it does a marvelous job of consoling us. Last week it told Julie that the world champion actually once made the same mistake as she had done - would she like to see that game?

I intend to devote the next two letters to the subjects I have discussed here , but retailing the best of your suggestions instead of droning on with mine."

While the computer's role in children's education is mainly that of instructor (discovering a child's learning pattern and responding to it) and learning group matcher, its main role in higher education is as a store of knowledge. Although a computer can only know what Man has taught it, it has this huge advantage. No individual man lives or studies long enough to imbibe within himself all the skills and resources that are the product of the millennia of man's quest for knowledge, all the riches and details from man's inheritance of learning passed on from generation to generation. But any computer today can inherit and call up instantly any skill which exists anywhere in the form of a program.

This is why automatically updated databases are today the principal instruments of higher education and academic research. It is difficult for our generation to conceive that only forty years ago our scientists acted as tortoise-like discoverers of knowledge, confined to small and jealous cliques with random and restricted methods of communicating ideas. Down until the 1980s the world has several hundred sepaate cancer research organisations with no central co-ordinating database.

 

 

40 years ago norman saw 500 students digitally connected- here's what that observation led to in terms of changing education to be multi-win - for other value chains see http://valuechain.ning.com

Future of University

The future of education that my family has sought since 1972 celebrates educators who are passionate about helping youth create jobs and demand purposeful working lifetimes. What changed our lives in 1972 was an early example of internetworking. We saw 500 undergraduates interacting simultaneously around a digital network in one of the first experiments of what was then called the UK's National development project in Computer Assisted Learning . This connected multiple universities in the North of England which were hubbed around the University of Leeds.

I went to work in Leeds for 3 years while my father, Norman Macrae, started journalising at The Economist how entrepreneurs could change the world if we invested in the abundancy of a post-industrial revolution. Unlike the economics of scarcity caused by over-investment in houses and consuming up things, knowhow can multiply value in use. As the father of modern day computing John Von Neumann said: the future of professions needs to be about transparently designing above zero-sum exchanges. (ref biography)

Today's opportunity is to mobilise worldwide collaborations that mediate a joyful turning point for our human race. Which of history's greatest human dreams cannot become future realities if we make hi-trust investments in our children's children? We believe in the action learning credo: Impossible become possible if right time, action, people, place, converge. (www.convergences2015.org)

If you share our purpose of job-creating education -and helping youth collaborate around humanity's most exciting goals - then the combination of four university hubs that I recommend you look at first in 2012 are:

1 MIT in Boston USA - world's number 1 job-creating alumni network: entrepreneurship as every discipline's innovation laboratory. Relevant searches include : new media lab, student entrepreneur competitions, connections to 360 degree capital, patent pools and network incubators, mobilising extremely affordable apps, open courseware. Also MIT has become the home of the web's inventor Tim Berners Lee, trans-hemisphere entrepreneur fellowships including the passionate action-oriented changemakers at The Legatum Centre and The Poverty Lab.

2 Mandela Free University partners led by Taddy Blecher www.taddyblecher.com out of Johannesburg S. Africa - search peer to peer action learning franchises, collaboration cultures like ubuntu and student telecentres, partnerships supported by Google Africa with every type of new technology practice that student entrepreneurs may need, Mandela elders' new millennium goals and empowerment values, Branson fun and prize networks, egov.

3 Collaboration of over 100 Historically Black Universities currently epicentred in Atlanta Georgia www.ofcvc.org but hoping to build a new agriculture and tech, distant and real university inspired by Muhammad Yunus and located in USA's poorest county that's in the state of Alabama

4 Universities linking into BRAC's total education system in Bangladesh - and also being openly celebrated at such annual educational Oscars as those convened by Qatar. As a former first lady of S Africa used to say : Dhaka is the open university of microcredit. Since that meant it was the capital that innovated investment banking of the 15 million poorest village mothers with the most passionate demand for job creating education for their next generation- and since Bangladesh has the longest experimentation (since 1996) in using mobile tech to turn villages into telecentre hubs for the most life critical needs of mobile technology - today worldwide youth may be encouraged to value Dhaka as interaction learning's open university of micro everything.

 

Provided all Entrepreneurial Revolution (www.erworld.tv ) networks understand the depth of conflict resolution competences that extreme social and buisness innovation needs to integrate, sustaining the future of job creating youth is the most exciting collaborative challenge in the world as the breakthrough net generation comes of age. Of course, any map of the Future of University will be fast changing and printed versions will quickly look dated. I am always searching- right now for universities led by Chinese and Japanese education entrepreneurial movements. And, I would love to hear what I am missing that your favorite job-creating university can linkin chris.macrae@yahoo.co.uk

Before a short tour of how and why the above 4 sites are brilliant places for empowering youth's productivities, lets talk about the paradoxes that our 40 years of research have encountered since the first time we experienced 500 students simultaneously digitally networking .The net generation can be the most productive time for youth but only if we help invest in co-creating up to 3 billion jobs. Our main recommendation to educational policy makers from our 40 year elearning curve is the vast majority of these new jobs will not come from students passing examinations and expecting employers to offer them jobs.

 

Definitions

Community jobs are those that invest in family and community so that whichever global village a child is born in, she or he has a fair chance to grow up healthy and job-creating. Norman journalised how the quarter century 1940-1965 started to destroy community jobs in the West due to huge growth in top-down government, taxes spent on armed forces and a tv advertising whose accidental impact was a loss of championing real communities. Conversely in the developing world, Norman knew from his father--in-law's quarter of a century work with Mahatma Gandhi that lack of community infrastructure causes so many children being born into poverty's traps. Essential hi-trust professions that every community needs to celebrate to be sustainable are: medics, teachers and bankers. Moreover youth need these people to be there as practice role models and designers of apprenticeships.

Green Jobs- the 20th century's most unsustainable economic bias was caused by not costing for what wasteful industrial processes were stealing from next generation's access to clean water, nutritious food, sustainable climate, and recycling of waste. Moreover the compound risks of the petrochemical age were neither understood in terms of how much they have destroyed nutritios food nor understood in terms of security of nations. Fortunately green economics starts from bottom up diversity- in the third of the world with no electricity grids there no debate - get solar and get biogas now and create community jobs as well as green ones

Million times more collaboration ought to make the net generation the most productive time to be alive but only as the father of computing von neumann's logics about the imperative of developing multi-win models are understood by all professions and place leadership ruling constitutions. So far not one global profession has addressed this in a whole truth systemic way.and bi bankers have been rewarded for sepcialising in most vicious zero-sum games

Norman Macrae's 1984 handbook http://www.erworld.tv/id133.html on the net generation's co-creation of 3 billion jobs played out scenarios whose timing was economically critical. For example, he advised America to develop a beyond-superpower policy for collaboration with the post-USSR period which could have brought a peace dividend around the world. Similarly, the 1990s could have been an investment in photosynthesis as a much safer way forward for the world to invest in energy than nuclear or carbon worlds.

 

However uniting celebrations in a sea-change in education and smart media is the seminal worldwide game changer if economics is to be responsible for going through the eye of the needle from scarcity to abundance. From 1492 sailors like Columbus needed collaboration logs for hi-trust mapping to sail the blue. 500 years later all 7 billion human beings needed new mapmaking to navigate how to make multi-win investments in youth of the net generation -to be the most productive and sustainable time on planet earth. Gordon Dryden chronicles how he has helped New Zealand explore this over the last 30 years in his paper in the first issue of this journal and in his books at www.thelearningweb.net . The surprisingly good news is that his experiences are already part of a parental dialogue between 10 million chinese families

 

WHERE WILL NET GENERATION JOBS MAINLY COME FROM?

Apprenticeships starting at 15 and even some early-stage apprenticeships starting at 12 in family or safe local cooperatives as knowledge businesses mobilise round wherever communities choose to telecentre

 

Filling community-owned franchises of what in the 20th century were  public service jobs and/or hubbing exchanges of solutions across worldwide communities as well as your own highly developed personal network. In November 2011, the European Union convened a conference on social business and social impact bonds from which it was concluded that this transformation was likely to be Europe's best chance of getting back to full youth employment links

 

Starts-ups that are entrepreneurially created while still at university - both traditional business start-ups and ones that open source urgent social solutions that will also require the full collaboration between professors, students and local societies as labs for most urgent needs that need a solution

 Other structures - incubators, accelerators - that provide the graduated student the time needed either to develop a deeply innovative start-up or to find a cluster of partners. Since my dad's 1976 survey in The Economist, Entrepreneurial Revolution alumni have defined the post-industrial age as one where networks of organisations designed round multi-win business models. not separate zero-sum organisations, will serve the greatest advances in the human lot. With  a million times more collaboration technology than when man raced to the moon in the 1960s,  if we dare invest in youth co-producing the most exciting of millennium goals there is no logical reason why this shouldn't be the most productive and sustainable time for youth. But as Keynes General Theory warned that does depend on removing old macroeconomists wherever their historical models no longer tune into future change.   

FOUR UNIS OF THE FUTURE

MIT is definitely the West's - and probably the world's - best resourced university system designed round the purpose of helping worldwide youth connect with all of the most innovative job creation trends. And it has achieved this by being the most open of universities. The Initiatives led out of s.africa and by historically black universites in usa started with the least resources in their nations but were closest to the most urgent social challenges. Fortunately the collaboration of most and least resourced is needed to get linking into The 3 billion jobs (billion community (where youth/family grow their potential), billion green, billion collaboration technology that my father first mapped in his 1984 book on the net generation. BRAC completes a perfect collaboration quartet not just by bring an eastern perspective but because historically its unique contribution to the world of education is village primary schools but it is now urgently wanting to offer a complete job-creating educational chain. There is a parallel with the way Gandhi's success was configured around offering a transformation of the whole value chain of education, though his greatest practical leaps forward came from his primary schools partnership with Montessori.

 

MIT

If ever Walt Disney Company wanted to update their future science park EPCOT, taking the metro to Boston's Kendall station and walking the square mile around it would be essential prep. There you can find almost every kind of future research but linked in by engineers who want to do ractical experiments now, That is the unique beauty of MIT college system around which these future businesses are blossoming. Most MIT students come as graduates who want to invent their own space in the world. While this tradition has always been there, an entrepreneurial edge came to MIT about 30 years ago when the  (Sloan) business school faculty recommended that every practice area developed its own entrepreneurial stream as well as lots of interdisciplinary spaces for youth to network. The timing was great as what had been the architecture lab was encouraged to build a new media lab led by Negropronte's vision of seeing what collaboration computing in the world's poorest schools could do.

 

Now the media lab has over 100 of the most humanly exciting experiments that mobile or tablet or laptop can connect with just about every practice area that engineers or inventive young minds could possibly want to futurise. Its top floor hosts the favorite place to host a conference of every entrepreneur - the annual Legatum conference being a special favorite of those who want to build on what is now the 17th year that mobile phones have started to end digital divides in the most rural of areas.

 

 MIT has also become the home of tim berners lee founder of the worldwide web. Then 10 years ago MIT is something whose after-shock is only just catching up with universities everywhere. It put every course online. So now you can know what content MIT students study. What's coming next is that clusters of these content can be arranged into locally certified degree curricula. However let me reiterate  MIT is a space where mastery of theory isn't separated from what experimental innovations you come up with. And those that involve experiments with sectors of societies often kept at arms length by traditional research get particular celebration at MIT. For example some of MIT's greatest medical advances have come from working with patient groups. Throughout the MIT year, you will find lots of entrepreneurial competitions going on - starting with  a youtube pitch an idea competition and progressing to who's got a start-up ready for launch. MIT also prides itself in developing relationships with all sorts of venture funds. Many MIT innovators don't want to be associated with funds that want an exit strategy. They do want to develop as serial inventors advancing their unique abilities and linking in the most extraordinary social networks any inventor could collaboratively sustain. If you identify where jobs originated. MIT is 11th on the world's list - and all of the top 10 are aggregates of an entire nation's resources. This means if you want to be alumni of job creation MIT (and its partnering educational networks) are in a social and business league table of their own

 

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What Everybody Needs to Know First About Economics

Economics designs peoples futures but this depends on what logics are analysed- here are the logics The Economist used in the early 19080s when it discussed how the net gneration could be the most productive time for youth

  

A nation/place cannot sustain growth unless its capital is structured so that family's savings are invested in their next generation's productivity. Norman Macrae's 1954 book on The London Capital Market provides chapter and verse. Historically it was timely as London's industrial revolution had planted most of the developed world's laws and financial instruments. Futurewise this book became a source for Norman's forty years of leadership challenges including 3000 editorials. THese became branded in the 2 genres of entrepreneurial revolution and future history of the net generation genre which he focused on from 1972. They script in practical details most of the changes that economists would need to make to historic rules if globalisation is not to collapse the worldwide financial system of 2010s

Norman framed his writings on future purposes huan most wanted around the idea that The Net Generation to 2024 would face change on a scale never previously experienced by our human race. To prevent risks and celebrate job creating opportunities Norman proposed in his 1984 book (The 2024 Report) that the world should unite around youth's most exciting millennium goal. He explained why economics would design the most popular futures if the goal was chosen as racing to end poverty everywhere. Reasons included: its possible, its exciting, it creates jobs post-industrial generation will need to design around collaborative technology, it can empower youth to joyfully unite cultures as we become borderless (more connected than separated), it aligns economics principles with nature's exponentially (compounding) rules of evolutionary selection which are community-up and open.

 download more profiles of 100 collaboration leaders of 2010s = youths most productuive decade 

 

We are shocked how few people know of the main findings of the renowned economist Maynard Keynes- increasingly only economics riles the world and the greatest risk to the future working lives of our children comes from elderly macroeconomists who hire themselves out to the biggest who want to get bigger.



Historically when faulty systems of macroeconomists ruined civilisations they fell one by one. But Einstein took Keynes logic further and hypothesised that the first generation to become more connected than separated by technology would be subject to a final exam. Now if we let erroneous macroeconomists rule whole continents of nations will collapse.



By 1976 my father (Norman macrae) -probably the last student of economics mentored by Keynes-  was writing at The Economist why the next half century would see the net generation tested - he called upon the genre of Entrepreneurial Revolution (ER) networkers to sort out the greatest  innovation challenge economics - and so the human race - will ever face .

 

 

logo320.jpg.

The opportunity of 10 times more productivity for the net generation (with million times more collaboration technology than man's 1960's race to moon)

.The THREAT is preventing the threat of collapsing continent-wide system of value exchange. By 2020 the (exponential track impacting future) sustainanbilyty of every village around the globe will likely be lost or won

..logo3responsibility.jpg...How could we be experiencing record youth unemployent when we are living in a time of a million times more collaboration tech than a generation ago? According to research by Entrepreneur networks started at The Economist in 1976, we are 36 years off track in compounding 2 unustainable systems whose follies multiply each other
  • that caused by non-economic media which also distracts us with glossy images and soiundbites instead of future realities and integrated cross-cultural and inter-generational understanding - full briefing here
  • World's biggest maths error compounded by macroeconomists and all global professions with a ruling monopoly - see below
Discuss: what does everyone need to know about the way economists think and behave. Understand 2 opposite segments of E : The Unacknowledged Microeconomist and the Fatally Conceited.MacroEconomist

Keynes - because economics will incresingly rule the world, the greatest danger to the futures of youth is elderly macroeconomists where fame maks them compete to superpower over peoples  

 Boulding: ****the historic significance of capitalism is precisely a society in which exchange has become a more important source of power than threat**** in his book economics as science

Von hayek- given the fatal conceit in my profession, I really think you shouldn't be doing this - awarding me a first Nobel Prize in economics 
freedom of speech and everything about the future you want, NOW depends on enough people knowing how to play the value exchange game - and why that isnt exactly what the game of monopoly teaches - an exchange is where each side says I wants something from you so let's work out what I can do for you and purposefully improve on this over time through hi-trust communal feedback
debate difference between true capitalism and phoney capitalism
  • agree on a picture like that on the right- we have seen cases where one of the 10 coordinates shown felt the system had betrayed their greatest trust, and so zeroised the organsaition or network (even ones that accountants had been reprorting record profits ahd $100 billion equity
  •  start discussing multi-win models - see our 4 favorites from 36 years of debates with entrepreneuruial revoltionaries
  • choose say 12 markets whose future purpose is most vital to sustaining your children - and use media to agree what the greatest human purpose and corresponding mkilennium goals are that need investing in to fee each market and youth's working lives in serving the most valuable purpose
  • get those (including all parents?) who save across generations to throw out speculators from banking systems and capital markets - eg next time there is a bailout (which means taking your childrens money to refinance a bank) wipe out shareholders; let them set lawyers on old managers and any politicians their pr's lobbied; keep savings accounts safe; restructure bank so that it invests in youth productivity and sustaining communities not bubbles, and not trapping people in debt

Goodwill explains up to 90% of value impacts of any organsaition in a networked economy- yet no nation yet requires that organisations it licences to audit goodwii. 20 years of research has proved the following reciprocal relationship - the purposeful question" who would uniquely miss what if your organsaition did not exist?, has the reciprocal question why let your organisation contnue to exist if it has broken my life-crtiical trust it promised to serve

joyofeconomics.jpg

.........................................

valuetrue capitalism maps how each side win-win-win from other sides communal purpose over time -this  goes back over 250 years to the criteria of free markets adam smith demanded freedom of speech questioned - he talked about the transparency of community markets where a rogue trader might fool some of the people but not for long and not for too big to fail! - the journal of social business edited by adam smith scholars at his alma mater Glasgow University advises people of any other tongue how to build up from adam's hi-trust ideas to such constructs as sustainable global vilage networking first mapped by schumacher (another keynes alumni) - we have a library of free articles for you to choose and translate from

phoney capitalism spins a monopoly, a non-free maket - one side rules by saying I want to take more and more from all of you- esentially this is what rules when global accountants audit only how much one side has profited/extracted withouth how much has it sustains other sides- phoney capitalism can only result in exponentai meltdown becuase so much has been extracetd from system that its unsustainable for human lives or for nature or for both
 
 

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  • MORE ABOUT WHERE VALUING NETGEN CAME FROM

    - in the 1990s I was working with big 5 accountants; I argued for a missing audit they needed to do as regularly as their monetisation audit; I called this how goodwill modelling multiplies value around a gravitational purspoe ewhise gials all sides want to progress over time; it turns out that in knowlege scetors over 90% of the future is bayesian predicatbale on quality of goodwill relationships-3 yeras before andersen crashed I usd this model to warn them that if they stoped multiplying conflicts around true and fair they would be zeroised by society- I didnt succeed in getting my advice to be acted on but at that time unseen wealth publications made by brookings and georgetwon had just been banned by the incolimng bush adminsitration - who didnt like to be told that without the second aidt risks would compound unseen- every collapse USA has seen a hand in during 2000s (and viralised to other nations since 2008) can be traced to this mathenatical error

    what can be done about this mess
    -debate difference between true cpaitalism and phoney capitalsim
    choose say 12 markets hose future purpose is most vital to sustaining your children - and use media to aggree what the greatest huan purspose and corresponding mkilennium goals are that need investing in
    get thse who save across generations to throw out speculators from bankiing systems - eg next time there is a bailout (which means taking your childrens money to refinace a bank) wipe out sharehilers; let them set lawyers on old managers and any politicians their pr's lobbied; keep savings acconts safe; restructure bank so that it invests in youth productivity and sustaining communities not bubbles, and trapping people in debt
    -if you do this today's millions times more coalbration technology than a generation ago can make the next decade the most productive time and joyful for youty and everyine to be alive instead of the most dismal time where natios led by old macroecnomist put youth out of work
    DO YOU KNOW...
    Q: Original Purpose of Economics? A The Scotland of the 1750s was at the end of a first generation to have found their country taken over by England's Empire., So Adam Smith was motivated to start writing about how to design systems so that peoples could could look forward to their next generation sustaining more productive lives than they had had ... 7 quarters later keynes general theory issued humanity's greatest challenge- economics as a systems science had reached the state that only economics rules the world ... moreQ: What do the man-made systems that rule the world look like? A Purposeful value exchanges composed round 5 main flows of how productively peoples lives are used and 5 main demands human beings make as co-workers, customers, owners, stewards of the globe, stewards of society at the village level - moreQ: Why can't human race in 21st C be sustained with choice of economics made by 20th C biggest banks and govs etc? A Long Story: ER alumni are in their 37th year of offering debating scripts eg1 on wht some industrial age systems after world war 2 were designed to be too big to exist as the first net generation became more connected than separated by geographical borders ... What is known is that 2010s is most exciting decade to be an entrpreneur because our impacts define what will be possible for all our childrens' children more 

    World Class Brands are in 25th year (as a subnetwork of Norman Macrae's Entrepreneurial Revolution) of helping sustain the most purposeful organsiations or markets in the world. Core to any charter of purpose is a quiz revolving round this question
    - who would uniquely miss what if this didn't exist?. From this Q&A's list of trust-flows, economics maps how to connect producers and demanders of the exchange in multi-win models of purpose. Henceforth, potential conflicts with this goodwill model are audited and resolved at every cycle so that unique purpose is celebrated to lead the future by continuously multiplying the most value and trust. This model provides the simplest benchmark around all exponential impact metrics of sustainability investement can be calculated and the transparency of all multi-win models are webbed around pro-youth economics. Questions welcomed chris.macrae@yahoo.co.uk washington dc hotline 1 301 881 1655

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    Not youth's economics of the world Not our schools of the worldYouthandYunus.comLeadersandYunus

    Muhammad Yunus expresses faith in entrepreneurs at G20 summit

    Posted on: November 23, 2011
    Category: News

    Microfinance Focus, November 4, 2011: Professor Muhammad Yunus was invited to deliver a key note speech during the G20 Young Entrepreneurs Summit held in Nice, France. Professor Yunus addressed an audience of more than 400 entrepreneurs from all G20 countries. In his speech, he shared his personal entrepreneurship experiences, his faith in young entrepreneurs to be the pillars of society and the need to include poor countries in the discussion process in making global decisions.

    Professor Yunus being an entrepreneur himself started off creating the Grameen Bank that provides microfinance services to the poor who had little access to financial provisions. From that, he ventured into a wide number of social businesses such as Grameen Nursing College, Grameen Eyecare Hospitals, Grameen Shakti, etc.

    He has always considered young entrepreneurs to be the most effective solution for the future. He said “In my opinion, G20 YES is a fabulous initiative, gathering so much energy and momentum from all over the world. Because of their creativity and leadership, provided that they commit to share the value they create, these 400 young entrepreneurs in this room can change the world.”

    Professor Yunus is also a member of the Millennium Development Goals (MDGs) Advocacy Group, advising the Secretary General of the United Nations. Hence, he believes that the next generation of youths should be handed over the process of the MDGs as soon as possible. He believes that entrepreneurs will have a key role to play in fulfilling the MDGs, if they are committed to the social value created by their companies, and social business can be part of the solutions.

    In his speech, he added that the G20 needed to broaden its scope to deal with the current world crisis. It can no longer remain a political forum with economic agendas. The G20 needs to create a social agenda as well. Professor Yunus proposes that ‘social business’ should be brought to the agenda of G20, as one of the concrete and effective solutions to be considered for immediate implementation so as to guide capitalistic investment towards social value and jobs creation, rather than sheer profit maximization strategies. A social business is a cause-driven business where profits stay within the company for its sustainability.

    Lastly, Professor Yunus concluded that the G20 should be expanded into the G25, where poor countries from each continent should be included in the global agenda which they are part of. He added that “Their problems are inter-related with others, and their proposals of solutions should be considered by the most economically advanced countries in making global decisions. A G25 would be a big step toward ensuring that global social issues are raised, and MDGs implementation is fully shared on the global agenda. And finally, because fighting poverty together is the only way to bring long lasting peace in this world.”

    Source: http://www.microfinancefocus.com/muhammad-yunus-expresses-faith-entrepreneurs-g20-summit

    inquiries chris macrae info @worldcitizen.tv us tel 301 881 1655 ; us office 5801 nicholson lane suite 404, North Bethesda, MD 20852 USA - skype chrismacraedc
     Mapping is a process of discovery. Crucially maps are only as usable as updating correctness of bottom up information. Think of your own use of a map. You look for the "you are here arrow". You want to be directed to somewhere/someone you dont know how to get to; you want your return vist to be safe as well as a value multiplying win-win.
    Does anyone remember the simplest findings of einstein and jon von neumann. Einstein proved that to innovate more value you need to go more micro in what you model; von neumann showed that there is more value to be networked by interfacing safe flows across systems instead of ruling over separation of boundaries. There isnt a single global metrics profession that gets these mathematical -and natural - principles right. Unless we change this global markets will cycle through ever greater collapse and more and more communities will lose sustainability. Mapmaking is that critical an idea to what the net genration will achieve in 2010s; but its also one that children from primary age up can action learn. Its simple. Its just that it works the other way round from top-down people's fatal conceit.
    It explores how to make the invisible principles and practices of real wealth creation visible, and therefore useable. Our planet needs case studies underline the search for new win-wins that build ‘system integrity’
    Trust-flow is the unseen wealth to invest sustainability in. Tranpsarently mapped it develops a goodwill gravity  tyhat invites with roleplayer in a community to multiply goodwill while sustaining their own cashflow.. Trust is not some vague, mushy, abstract warm-hearted sentiment. It is an economic powerhouse – probably just as economically and socially important as oil.
    The point is, there are specific things you need to do to get trust flowing, just as there are specific things you need to do to get oil flowing. And like oil trust has a dark side. Right now, the world is awash with the carbon emissions which threaten the stability and sustainability of its ecosystems. Right now, the world is also awash with the ‘carbon emission’ of trust – mistrust. Indeed it may well be that our ability to tackle the one issue – the threat of environmental catastrophe – depends on our ability to tackle the other issue: how to generate, deepen, extend and sustain trust.>br>But what is the best way of doing this? One thing is for sure. You don’t build and sustain trust via some sentimental exercise of goodwill to all and sundry. There are three very simple principles at the heart of effective trust generation. 
    First, trust is generated via win-win relationships. It’s virtually impossible to generate or sustain trust without mutual benefit for those involved. But beneficial outcomes are not enough in themselves. For trust to be built and sustained, both sides need to signal a demonstrable commitment to finding win-win ways forward. Such a  commitment may require real changes to what we say and do. Second, real ‘win-wins’ are hardly ever purely financial or material. You don’t build trust simply by walking away with more cash in your pocket. Trust works at all the dimensions and levels of human exchange. Yes, it’s about financial and material rewards. But it’s also about purpose (what people want to achieve). It’s about politics with a small ‘p’: the use and abuse of power, the crafting and application of rules of fair play. And it’s about emotions: the sometimes overwhelmingly strong emotions, both positive and negative, that are generated when people deal with other peopleWhat’s constitutes a ‘win’ – a sense of real improvement – is therefore highly specific. It depends absolutely on the details of who the parties are, what they are trying to achieve, in what context. Building trus, therefore involves discovering these specifics. Just as oil doesn’t flow out of the ground, get refined and pump its way into motor vehicles automatically and without effort, so identifying and doing what is necessary to get trust flowing requires dedicated, skilled effort. It requires a disciplined, structured process, not a vague sentiment.

    3) Third, even if we do steps 1) and 2) there’s still a good chance it won’t succeed. Why? Because it ignores an invisible third factor. In the real world, purely two way bilateral relationships don’t exist. There is always a third party whose interests or outcomes are affected by what the other two parties do but who is not a party to the contract. The environment is a case in point. Producers and consumers may both benefit from buying and selling to each other – but what happens if, in doing so, they destroy the environment they both depend on?

    This raises a hugely important question. When two parties pursue win-wins and build mutual trust, are they doing so in a way which creates a win and builds trust for the third party at the same time? Or are they simply pushing the problems – and the mistrust – further down the line on to this third party? Building vigorous, healthy networks of trust is a different kettle of fish to ‘you scratch my back and I’ll scratch yours’ win-win conspiracies. It requires a Map of all the key relationships plus careful consideration of knock-on consequences. It requires a different perspective.

    These three simple, basic steps do not happen automatically. They need to be worked at. The territory needs to be deliberately Mapped and explored. What’s more, there are obstacles in our way – mental and practical obstacles that need to be cleared. Prevailing economic theories about ‘rational economic man’ for example, deny the need to commit to win-win outcomes. Instead, they promote supposedly ‘rational’ (i.e. narrowly selfish behaviours) which actively undermine trust The same theories insist that the only valid measure of human benefit is money, thereby excluding from consideration many of the biggest opportunities for improvement. Meanwhile many vested interests do not want to extend the circle of trust to third parties and complete networks because their positions of power depend on their ability to take advantage of the weaknesses of these third parties. That’s another job for Mapping: helping to identify and mount such obstacles.
    The potential benefits of doing so are unthinkably huge. They start with a simple negative: the relief that comes from when you stop banging your head against a brick wall. Mistrust breeds wasteful, wealth destroying conflict that tends to feed on itself. Anger and hatred engender anger and hatred. Simply easing or stopping the terrible waste of mistrust would transform prospects for many millions of people. We desperately need to find ways of doing this. Then there are the positive benefits. Understanding the real nature of human wealth – all those dimensions of purpose, ‘politics’ and emotion as well as money and material comfort – means we can start being human again; human in the way we think, and act. What’s more, many of these intangible benefits won’t cost a penny. They’re there for the taking, if only we puts our minds to it.
    But there’s more, because trust is also an economic superpower in its own right. In the pages that follow we will show conclusively that material and financial riches are also dependent on trust. In fact, we will argue the case for going one step further. We will say that material and financial riches are a by-product of trust: the visible fruits of invisible, intangible human exchange. Once you understand that sustainable cash flows are a by-product of sustainable trust flows, your understanding of what makes a successful business is transformed.
    Separately, each of these three fruits – reducing the waste of conflict, unleashing the potential intrinsic benefits of human exchange, and energising the sustainable creation of material wealth – are massive in their own right. Put them together and they represent a vast new continent of opportunity.
    As we said, this book is addressed to entrepreneurs and system  innovation revolutionaries. Wherever you happen to be, whatever the change you want to make is, the principles explored in this book apply. The wish to change and the will to change are not the same as being able to change successfully. For that you need to understand your territory. You will need new Maps

    joyofeconomics.jpg

    0.1 Has a continental or worldwide search solutions on job creation that can be replicated across communities been organised before this EU launch of Nov 2011?
    While alumni of entrepreneurial economics have always valued job creation searches- we know of no clear evidence that this has been top of mind in the way that continental-wide government has operated since 1984 even though it was scripted by The Economist's Unacknowledged Giant as the number 1 question the first net generation would need to mediate if sustainable futures and humanity's most needed millennium goals are to be served
    what's different about nov 2011 is 4 top directorates of the EU have nailed their future reputation to this search -more
    1mobamauniobamauni@obamauni bon mots hillary zero sum thinking leads to negative sum results http://www.erworld.tv/id347.html
    1hHCL TechnologiesHCL Technologies@hcltech Press Release: #HCLT listed for the fourth consecutive year in the @WorldBlu's "Most Democratic Workplaces" list. http://hclte.ch/KbzBGH Retweeted by Traci Fenton
    49mAl RobertsonAl Robertson@al_robertson About last night's British Council @time_image film collection launch, with three of my favourite BC films! http://bit.ly/IJwmsc #WhoWereWe Retweeted by Lloyd Davis

    The End of the EU part 1 http://www.pbs.org/newshour/rundown/2012/06/paul-krugman-on-europe-doing-the-unthinkable.html

    TRANSCRIPT: 'The Unthinkable'
    Video above.

    Tom Ashbrook: You're talking about, writing about the end of the EU, the end of the common currency.

    Paul Krugman: it's unthinkable except that continuing down the current path is unthinkable. Spain is actually the epicenter. The Spanish government did nothing wrong. Spain was running a budget surplus before the crisis. It had low levels of debt. But it had a monstrous housing bubble, as did a lot of places, largely financed by the way by German banks which were lending to Spanish banks, which then lent on. And when the housing bubble burst you were left with a severe, extremely severe recession, and so the answer has been government austerity which just makes the slump deeper.

    The alternatives to a breakup of the euro have to be Europe-wide solutions. And so the solution, if there is one, involves accepting a higher rate of inflation for Europe as a whole and that particularly means higher inflation in Germany.
    --Paul Krugman

    What are Spain's alternatives here? Well, if they still had their currency, their own currency, the answer would be devalue, let the peseta drop, Spanish exports would become a lot more competitive, they'd be well on their way to recovery. They don't have their own currency, so people are saying: Well, you have to do all this stuff to stay within the Euro. At some point you say: Well, you know if your answer to our problem is just ever more suffering, ever more you know... 25 percent, 50 percent youth unemployment. If that's your notion of a solution, then maybe although it would be a very terrible thing to have the Euro breakup, maybe that's better than what we're doing. So that's becoming a real possibility now.

    The alternatives to a breakup of the euro have to be Europe-wide solutions. And so the solution, if there is one, involves accepting a higher rate of inflation for Europe as a whole and that particularly means higher inflation in Germany. Talk to the Germans about this and of course they go crazy, but you have to say to them: What is your answer? What you're doing right now is just a path to the collapse of the euro with enormous damage and radicalization and a lot of things that you don't want to see happen in Europe happening.

    TA: If the Germans can't take their foot off the brakes, they're just intrinsically and against history and everything else, Weimar, if they can't do it, what happens?

    PK: Then Europe breaks up and... No, I mean I think it's that stark. It really is, it really is that extreme because you know it's one of those things, you can't be saying that, but then you say: Well, let's talk this through. You know, let's as it said in the original edition of the Godfather - Let us reason together. Right? What are the ways that this can work out? And the current path is not one that can work out.

    It's like an irresistible force hitting an immovable object. On the one hand it's unthinkable that they'll allow the euro to fail because the euro is a terribly important thing, it's not terribly important economically, it would have been better off if they'd, if they had never done it, but now that it has been done, for it to fail is a defeat for the European project, the whole project of bringing peace, democracy, integration to a continent with a terrible history. So it's unthinkable that they'll allow it to fail, but it's also unthinkable that the Germans will accept moderate inflation which is the only solution any of us have been able to come up with. So one of two impossible things is going to happen. Your bet.

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