Economics Archives

How Does Society Change? Exploring the Theory of Megapolitics

How does society change? What’s the biggest factor? Is societal change predictable? Writing in the 1990s, James Davidson and William Rees-Mogg made major predictions about society’s future. They base them on what they call “megapolitics,” the theory that forms of government and economies are dictated mostly by circumstances, such as climate and the resources that are available. Keep reading to understand Davidson and Rees-Mogg’s theory of how society changes.

The Future of the Virtual Economy—as Predicted in the 1990s

3 Major Tips From Charlie Munger on Investing

What’s the impact of the virtual economy on commerce? To what extent have digital currencies replaced fiat currencies? In the 1990s, James Davidson and William Rees-Mogg predicted that the virtual economy would overtake physical economies. In their book The Sovereign Individual, they discuss what that would mean for the economy as a whole and for civilization in general. Keep reading to learn Davidson and Rees-Mogg’s predictions about the virtual economy and, in retrospect, see how close they got.

Why Are Cars So Expensive Right Now? Examining the Issues

Why are cars so expensive right now? Will prices come down any time soon? It’s been a rough ride for Americans looking to buy a car in 2023. The average new vehicle carries a monthly payment of $730, and the average used car rings in at $26,000. Auto insurance rates and repair costs have also been rising. Read on to learn why cars are so expensive right now and if prices will come down any time soon.

Will We See the End of Nation-States? A Forecast for the Digital Era

If nations ceased to exist, what would take their place? How could such a societal change happen? James Davidson and William Rees-Mogg believe that technological developments will profoundly impact social structures in the 21st century. Circumstances will favor small, efficient organizations over large ones. Ultimately, we’ll see the end of nation-states as they’re replaced by city-states and individuals. Read more to understand why Davidson and Rees-Mogg expect nation-states and national governments to decline and ultimately disappear.

The Future of Civilization: The Rise of Micro-Sovereignties

What’s the future of civilization? How will society be structured? James Davidson and William Rees-Mogg contend that, as nation-states decline in the 21st century, millions of micro-sovereignties will rise to take their place. These could be city-states or even individual estates where a wealthy person gets to decide what laws apply to her own property. Keep reading to learn Davidson and Rees-Mogg’s predictions for the future of civilization and the road they believe we’ll take to get there.

A Brief History of Energy Use: From Fire to Fossil Fuels

When did we become dependent on fossil fuels? What did we use before that? Vaclav Smil explains that, for millennia, the only energy sources humans relied on (besides their own labor) were fire and animals. It wasn’t until the 1900s that we began using large amounts of coal and the mid-20th century when we began relying heavily on other fossil fuels. Continue reading for a brief history of energy use.

Energy Pros and Cons: Weighing Crude Oil, Electricity, & Nuclear

Why can’t we just substitute any form of energy for another? What’s the best kind of energy for transportation? What’s the downside of electricity? Vaclav Smil says that understanding energy is essential to understanding modern societies and economic systems. We rely on energy to power our world, yet it can’t be produced from scratch. In How the World Really Works, he weighs the advantages and disadvantages of three forms of energy. Keep reading to learn about several energy pros and cons that will help you understand why the world works the way it does.

How the World Really Works by Vaclav Smil: Book Overview

How does energy work? What about food production? Manufacturing? If you’re like most people, you don’t know the answers to these questions. How the World Really Works by Vaclav Smil explores these matters that are central to our lives but not well understood. The bottom line he wants to communicate is that the world works because of fossil fuels. Keep reading for an overview of this book that seeks to educate us about how the world functions every day.

How to Reduce Carbon Emissions: Ideas for a Cleaner Future

What’s the fastest way to reduce carbon emissions from energy use? Which causes more deaths—fossil fuels or nuclear power? Vaclav Smil argues that we need to reduce energy use in all areas—transportation, buildings, agriculture, and industry—in order to cut down on carbon emissions. Two primary ways to do so are by generating electricity from renewable sources and by using nuclear energy. Keep reading to understand Smil’s ideas on how to reduce carbon emissions in energy use and manufacturing.

How Is Food Produced? Why We Rely on Fossil Fuels for Food

How is food produced? How has food production changed over time? Can we reduce our reliance on fossil fuels to produce food? Vaclav Smil says that modern methods of food production have improved the quality of life for millions. But, it comes at the cost of burning huge quantities of fossil fuels. He discusses the history of food production as well as the role fossil fuels play in producing the food we eat. Keep reading to learn how food production works.