from the world's big
The Stiglitz Budget Plan
With the Senate voting 81-19 on an $858 billion deal to extend all the Bush tax cuts—as well as extend unemployment benefits and reduce the payroll tax—it’s hard to take seriously the idea that anyone in Congress cares about reducing the deficit. That we shouldn’t worry about cutting the deficit may actually be the one thing both parties can agree on. In short term, as I have argued, this deal may make sense as a way to stimulate the economy. But at the same time, as I have also argued, we shouldn’t pretend that we cutting taxes is a way to reduce the deficit.
Nevertheless, Joseph Stiglitz argues that there should be a way to cut the deficit that would stimulate the economy. Stiglitz, who won the Nobel Prize in economics in 2001, writes that the trick would be to address several key economic inefficiencies. The first is that the defense budget has ballooned, so that we are spending an enormous amount overseas—where it doesn’t do anything for our economy—and on weapons with little use. The second is that we give subsidies to a wide range of businesses, which makes the market less efficient and is often in violation of our treaty obligations. The third is that we invest too little in the public goods like the infrastructure necessary for our economy to function. And the last inefficiency is that an increasingly large share—more than 20%—of our national income goes to the top 1% of earners, which means less money goes to the middle class—the real engine of economic growth.
So, Stiglitz says, the trick to reducing the deficit in a way that benefits the economy is simple:
• cut wasteful military spending, in part by no longer funding wars in Iraq and Afghanistan
• eliminate corporate subsidies, particularly to the banking, agricultural, and pharmaceutical sectors
• spend money on high-return public investments, increasing long-term economic growth
• increase the capital gains tax, which effectively allows the rich to pay a lower tax rate than the middle class
• raise taxes slightly on the rich—who can afford to pay more in taxes—effectively transferring more money back to the middle class
Cutting the defense budget, eliminating corporate subsidies, and raising taxes for the rich are all contractionary taken by themselves, but by spending the money instead on higher-return investments and eliminating market inefficiencies, we can actually save money and stimulate economic growth at the same time. “A deficit-reduction package crafted along these lines would more than meet even the most ardent deficit hawk’s demands,” Stiglitz says. “It would increase efficiency, promote growth, improve the environment, and benefit workers and the middle class.”
The problem with this plan? As Stiglitz himself says, it’s simply not going to happen. The plan works entirely at the expense of wealthy, corporate interests. If you doubt their influence, consider that over the last two years the Republican Party has really fought for just one policy: the extension of Bush tax cuts on income over $250,000. And while extending those tax cuts angered some Democrats, the tax cut deal still passed the Senate with a solid majority of both parties. But if Stiglitz’ plan is a fantasy, it should show us just how much it costs us to cater to the interests of big corporations and the very rich.
Innovation in manufacturing has crawled since the 1950s. That's about to speed up.
Here's why you might eat greenhouse gases in the future.
- The company's protein powder, "Solein," is similar in form and taste to wheat flour.
- Based on a concept developed by NASA, the product has wide potential as a carbon-neutral source of protein.
- The man-made "meat" industry just got even more interesting.
Seriously sustainable<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTk0MDIzNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyMjM4NTMzMX0.BCEfYnn6C3z1zUHIS38xOWjXktgamNBi5iyqklSMYK8/img.png?width=980" id="ea524" class="rm-shortcode" data-rm-shortcode-id="50533380eeb18eb5833b6b6aa3abec38" data-rm-shortcode-name="rebelmouse-image" />
Image source: Solar Foods<p>Solar Foods makes Solein by extracting CO₂ from air using <a href="https://www.fastcompany.com/90356326/we-have-the-tech-to-suck-co2-from-the-air-but-can-it-suck-enough-to-make-a-difference" target="_blank">carbon-capture technology</a>, and then combines it with water, nutrients and vitamins, using 100 percent renewable solar energy from partner <a href="https://www.fortum.com" target="_blank">Fortum</a> to promote a natural fermentation process similar to the one that produces yeast and lactic acid bacteria.</p><p>When the company claims its single-celled protein is "free from agricultural limitations," they're not kidding. Being produced indoors means Solar Foods is not dependent on arable land, water (i.e., rain), or favorable weather.</p><p>The company is already working with the European Space Agency to develop foods for off-planet production and consumption. (The idea for Solein actually began at NASA.) They also see potential in bringing protein production to areas whose climate or ground conditions make conventional agriculture impossible.</p><p>And let's not forget all those <a href="https://www.bk.com/menu-item/impossible-whopper" target="_blank">beef-free burgers</a> based on pea and soy proteins currently gaining popularity. The environmental challenge of scaling up the supply of those plants to meet their high demand may provide an opening for the completely renewable Solein — the company could provide companies that produce animal-free "meats," such as <a href="https://www.beyondmeat.com/products/" target="_blank">Beyond Meat</a> and <a href="https://impossiblefoods.com" target="_blank">Impossible Foods</a>, a way to further reduce their environmental impact.</p>
The larger promise<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTk0MDI0MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NjU4MTg2OX0.7dZZYT5WEV_EupBuLVFwHynarTiz8RYR9aJtC6Ts2C4/img.jpg?width=980" id="3415d" class="rm-shortcode" data-rm-shortcode-id="2e6eebe06d795f844752f9e9d30040d7" data-rm-shortcode-name="rebelmouse-image" />
Image source: Solar Foods<p>The impact of the beef — and for that matter, poultry, pork, and fish — industries on our planet is widely recognized as one of the main drivers behind climate change, pollution, habitat loss, and antibiotic-resistant illness. From the cutting down of rainforests for cattle-grazing land, to runoff from factory farming of livestock and plants, to the disruption of the marine food chain, to the overuse of antibiotics in food animals, it's been disastrous.</p><p>The advent of a promising source of protein derived from two of the most renewable things we have, CO₂ and sunlight, <a href="https://solarfoods.fi/environmental-impact/" target="_blank">gets us out of the planet-destruction business</a> at the same time as it offers the promise of a stable, long-term solution to one of the world's most fundamental nutritional needs.</p>
Solar Foods' timetable<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTk0MTEzMS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTU5OTU1OTMwMn0.wnXh56iO_77x2XKV2uIPf78BKw4AJLUpmiyq_JBVGvo/img.jpg?width=1245&coordinates=172%2C146%2C62%2C135&height=700" id="0297c" class="rm-shortcode" data-rm-shortcode-id="125c9a98ec818f5c241fa28ef1423e67" data-rm-shortcode-name="rebelmouse-image" />
Image source: Lubsan / Shutterstock / Big Think<p>While company plans are always moderated by unforeseen events — including the availability of sufficient funding — Solar Foods plans a global commercial rollout for Solein in 2021 and to be producing two million meals annually, with a revenue of $800 million to $1.2 billion by 2023. By 2050, they hope to be providing sustenance to 9 billion people as part of a $500 billion protein market.</p><p>The project began in 2018, and this year, they anticipate achieving three things: Launching Solein (check), beginning the approval process certifying its safety as a Novel Food in the EU, and publishing plans for a 1,000-metric ton-per-year factory capable of producing 500 million meals annually.</p>
The protein powder Solein. Image source: SOLAR FOODS
SEAL training is the ultimate test of both mental and physical strength.
- The fact that U.S. Navy SEALs endure very rigorous training before entering the field is common knowledge, but just what happens at those facilities is less often discussed. In this video, former SEALs Brent Gleeson, David Goggins, and Eric Greitens (as well as authors Jesse Itzler and Jamie Wheal) talk about how the 18-month program is designed to build elite, disciplined operatives with immense mental toughness and resilience.
- Wheal dives into the cutting-edge technology and science that the navy uses to prepare these individuals. Itzler shares his experience meeting and briefly living with Goggins (who was also an Army Ranger) and the things he learned about pushing past perceived limits.
- Goggins dives into why you should leave your comfort zone, introduces the 40 percent rule, and explains why the biggest battle we all face is the one in our own minds. "Usually whatever's in front of you isn't as big as you make it out to be," says the SEAL turned motivational speaker. "We start to make these very small things enormous because we allow our minds to take control and go away from us. We have to regain control of our mind."
Pandemic-inspired housing innovation will collide with techno-acceleration.