US National security now prevails over globalisation. Liberal democracy is still in pretty good shape, but will it prevail in the US? Protests related to rising fuel costs are on the rise. Education can help, but only societal changes can really make people eat more healthily. Beware, the wealth conference world has its very own con men.
QUOTE OF THE WEEK
ARTICLE OF THE WEEK
Paul Krugman, When Trade Becomes a Weapon
(The New York Times, 13 October 2022)
President Biden’s decision to put in place sweeping new controls on exports of technology to China is destined to prevent (or at least delay) China’s attempts to produce advanced semiconductors – of crucial military as well as economic importance. This is yet another example of trade weaponization which leaves no doubt that the US is taking a much harder line on globalization. The lesson to be drawn is this: in the contest between globalization and national security, national security wins (gifted article – reads in 5-6min).
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Francis Fukuyama, More Proof That This Really Is the End of History
(The Atlantic, 17 October 2022)
The celebrated academic argues that it has become evident that there are crucial weaknesses at the core of seemingly strong authoritarian states. Two key ones: (1) the concentration of power in the hands of a single leader at the top all but guarantees low-quality decision making, (2) the absence of accountability and public discussion in “strong” states means that the leader’s support is shallow and can erode at a moment’s notice. Hence, “Celebrations of the rise of strong states and the decline of liberal democracy are very premature. Liberal democracy, because it distributes power and relies on consent of the governed, is in much better shape globally than many people think. The big question mark remains, unfortunately, the United States” (metered paywall – reads in 7-9 min).
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Efrem Gebreab & al., Fuel protests gripping more than 90 countries
(BBC News, 18 October 2022)
How energy inflation translates into social protests and sometimes turmoil. High costs of living are driving people to protest against crippling prices. What makes this article worth a read is the dynamic map depicting all reported rising fuel costs related demonstrations since January 2021. It shows a huge increase in protests: between January and September of this year, people in more than 90 countries took to the streets over the price or availability of fuel. A third were countries that had seen no protests at all over fuel in 2021 (like Spain for example).
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Sami Reiss, How Marion Nestle Changed the Way We Talk About Food
(GQ, 13 October 2022)
An interview with the academic and author who’s changed much of what we say and think about food. She explains why it’s important to trust our common sense for what’s good for us, why it’s so hard to count calories, and the meaning of her fight for a healthier world by re-framing the food industry as one comparable to big tobacco. One take-away: “There’s education, but that’s rarely enough. You have to make societal changes for people to eat more healthily” (metered paywall – reads in 6-8 min).
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Adam Ciralsky, Inside Wealth-Conference Con Man Anthony Ritossa’s Wild Web of Lies
(Vanity Fair, 19 October 2022)
The conference business, particularly when it involves powerful and wealthy people, can be quite deceptive! This investigative piece reads like a thriller. For years, Anthony Ritossa, hosted wealth summits in Dubai, Miami, Monaco, and Riyadh with prestigious patrons (like Prince Albert II of Monaco) and endorsements. Yet, as this article reveals, the family owner, self-styled knight and purported Nobel Prize nominee is in fact a Wall Street washout, a deadbeat dad, and a con artist, who’s been repeatedly jailed by European authorities. As one participant of his high-end events observes: “The scale of what he’s done is staggering. Ritossa has bullshitted thousands of people. In my case, I lost a lot of money” (metered paywall – reads in 15min+).
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