Home Sciences The planetary crisis turns on all the alerts

The planetary crisis turns on all the alerts

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The wealth management division of the Swiss Pictet Group anticipates in a documented report that the ecological transition will bring with it a great global government that restricts economic freedoms, to which it attributes the destruction of the planet, the lack of health care, the inefficiency of educational systems and social polarization.

On Tuesday, May 24, 2022, it will go down in history. That day, Pictet Wealth Management (Pictet WM), the wealth management division of the Swiss Pictet group, presented the tenth edition of its famous “Horizon” report at 30 of its main global headquarters, spread over 5 continents.

Its content is a real bomb on the future of capitalism, and consequently of humanity.

Since 2014, Pictet WM has been known for producing not only the most elaborate analyzes of the global socio-economic situation, but also the most accurate forecasts of medium and long-term economic prospects.

Their rigorous “Horizon” reports, which they publish periodically, are considered by experts to be the best example of extremely technical economic studies, alien to any ideological criteria according to their creators.

Few doubt that, today, Pictet WM is one of the most competent institutions in the world (if not the most) in this activity.

Pictet WM, in its macroeconomic forecast report, states that globally, for the next decade, among other trends, the return of “Big Government” is foreseeable.

negative externalities

During the presentation of the report, Christophe Donay, Director of Asset Allocation and Director of Macroeconomic Research at Pictet WM, surprised the business and political world by arguing that “the capitalist economic system has generated 4 extremely negative externalities: the first is climate change; the second the obstacles to first-class health care; the third is the decreasing effectiveness of education systems; and the fourth, the great inequalities in the distribution of income and wealth”.

The Horizon report insists above all that climate change “is having such a great impact on the planet that it will force governments to intervene as soon as possible by restricting economic freedoms”.

It also highlights that the pandemic has forced governments to intervene, restricting economic and social freedoms in the interest of public health. He also assures that the probability that governments will continue to intervene in the economy is one of the main factors considered in long-term forecasts for investment in the different asset classes globally.

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In its report, Pictet WM maintains that we have reached a point where “economic growth may not continue without due attention to the environment”, and predicts “the return of Big Government”, because if we want to have a future “the need for the ecological transition will force state intervention.”

That one of the most important and prestigious wealth managers in the world, with assets of 653,000 million euros, anticipates that governments will restrict economic freedoms to combat global warming, is a serious indicator of the catastrophic magnitude of the problem.

For the director of asset allocation at Pictet WM, “only if we manage to get rid of the scourge of populism, can we have hope”.

It seems difficult. But you have to try.

scientific evidence

The most important thing to note is that this forward-looking position anticipates a foreseeable Copernican turn in the current of thought that has defended, since the 1930s, the extreme privatization of resources and the deregulation of economic activities. A forecast that is added to a old demand of the scientific communityhitherto mostly ignored by the power centers of the world economy.

The vast majority of people believe that scientists’ warnings about global warming and climate change are recent.

Nothing more wrong. The truth is that thousands of researchers from different countries, working in hundreds of prestigious universities and public and private research organizations, have been concerned about the issue of anthropogenic global warming for almost 200 years.

More recently, scientists have been warning of the magnitude of the problem for decades. And not only through thousands of technical articles in specialized magazines. Many of them are also taking to the streets to warn of the seriousness of the planetary crisis.

But why so much concern? Is what is happening on a planetary level really so dangerous?

In the next installments we will analyze the anthropocentric origin of the planetary crisis and the enormous hecatomb that was unleashed the last time the concentration of atmospheric carbon dioxide approached the levels it has today.

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It was the greatest mass extinction the ages have ever seen. Now we must prepare to escape the next great extinction, which fully threatens the survival of our species.

(This article has been updated at 8:09 p.m. on June 28, compared to the previous version, incorporating new contributions).

How to escape human extinction: articles to understand what is happening to the planet

Under this heading we publish a series of articles that rigorously analyze the planetary crisis in its different dimensions, as well as explain how it will affect our lives and the price we will have to pay to escape the catastrophe that could end life on Earth. Land.

We will offer a complete vision of the problem, always in an informative key, which will not only expose the latest knowledge on biology and ecology, but also the latest contributions from fields as disparate as neurobiology (trying to see why we behave as we do when we destroy our own environment), and even from the most scientific economics.

The objective of this series of articles is that anyone can not only understand what is happening, but also, if they so wish, engage with the planet with the appropriate knowledge that allows them to transcend merely aesthetic measures.

As the global change we are experiencing is extremely complex, the articles that try to explain it are going to be relatively complex. But it is worth the effort to understand global change, as it is extremely serious.

To do this, we invite you to take a long and complex journey, but also fun, through this entire series of articles. Only after having read many of them will you be able to fully understand what we are experiencing as a species and to act accordingly.

EDUARDO COSTAS

Other articles in this series

Scientists have been preaching in the desert for 200 years the agony of the planet

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