Quick note following up on the disruption/re-alignment/dislocation theme’s articulated by El-Erian. As a proponent of liberal economics, I believe that innovation will occur because it is part of human nature. We are creative beasts. We adapt to changing circumstances with novel strategies with available resources. In short, the “hand” is always moving and is merely a metaphor for our better selves acting collectively.
I wanted to point out a great note from Friedman in the NY Times this morning. He is suggesting a way forward while contextualizing the current morass in a broader scale than the financial markets. (You can read his article here…) Perhaps embedded in the current disruption is that we need to find more environmentally sustainable uses for our limited resources. We cannot expect to consume our way out this time. Until we find a complete set of natural resources (or perfect alchemy… come on nanotechnologists!), we have a finite set of materials to work with.
With a population of earth expected to hit the 9 billion people or so in the next 50 years, perhaps this is a good idea? From the perspective of seeking to identify themes and opportunities of the way forward from here, sustainable economic growth and renewable energy resources certainly seem logical.