The hydrogen economy has been touted for decades as a way to navigate the clean energy transition. Now a new CSIRO roadmap sets out how hydrogen power can become a major energy player.
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Category: economics
“This is the dark side of technological revolutions and that dark side has always been there,” Haldane added. “That hollowing out is going to be potentially on a much greater scale in the future, when we have machines both thinking and doing — replacing both the cognitive and the technical skills of humans.”
Haldane said that the so-called Fourth Industrial Revolution — a digitally-driven paradigm shift similar to previous industrial revolutions in the West — had the potential to displace numerous jobs and leave people “technologically unemployed.”
“Each of those [industrial revolutions] had a wrenching and lengthy impact on the jobs market, on the lives and livelihoods of large swathes of society,” Haldane told the BBC.
The BOE economist cautioned that previous industrial revolutions resulted in “heightened social tensions,” “financial tensions” and “inequality.” The First Industrial Revolution, which took place during the Victorian era, transformed Britain’s economy, leading to the creation of ground-breaking industrial innovations including the steam train and advanced machine tools, all the while resulting in layoffs especially in industries like textiles.
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We can’t turn back the clock, but neither is job insecurity inevitable. Just as the postwar period managed to make industrialization benefit industrial workers, we need to create new norms, institutions and policies that make digitization benefit today’s workers. Pundits have offered many paths forward — “portable” benefits, universal basic income, worker reclassification — but regardless of the option, the important thing to remember is that we do have a choice.
When we learn about the Industrial Revolution in school, we hear a lot about factories, steam engines, maybe the power loom. We are taught that technological innovation drove social change and radically reshaped the world of work.
Likewise, when we talk about today’s economy, we focus on smartphones, artificial intelligence, apps. Here, too, the inexorable march of technology is thought to be responsible for disrupting traditional work, phasing out the employee with a regular wage or salary and phasing in independent contractors, consultants, temps and freelancers — the so-called gig economy.
But this narrative is wrong. The history of labor shows that technology does not usually drive social change. On the contrary, social change is typically driven by decisions we make about how to organize our world. Only later does technology swoop in, accelerating and consolidating those changes.
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Last week, NASA announced the awardees for an ongoing effort to foster commercial activity in space. This effort allows 13 companies to study the future of commercial human spaceflight in low-Earth orbit, including long-term opportunities for the International Space Station.
I’m pleased to share that NanoRacks is one of these awardees.
This study is not only a big step for NanoRacks, but a big step for the commercial space ecosystem. Today, we are the largest commercial user of the International Space Station and are proud of the impact we’ve made to help foster this ecosystem and bring customers from all over the world into to orbit. This study will allow us to take our vision to the next step and detail the viability for habitable and automated platforms for low-Earth orbit.
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It may seem off-putting to some, but human waste is full of nutrients that can be recycled into valuable products that could promote agricultural sustainability and better economic independence for some developing countries.
Cities produce and must manage huge quantities of wastewater. Researchers at the University of Illinois at Urbana-Champaign have developed a model to clarify what parts of the world may benefit most from re-circulation of human-waste-derived nitrogen, potassium and phosphorus from cities and back into farm fields. They report their findings in the journal Nature Sustainability.
“We grow our crops in the field, apply nutrient-rich fertilizers, eat the crops, excrete all of the nitrogen, phosphorus and potassium and then those nutrients end up at the wastewater treatment plant,” said Jeremy Guest, a civil and environmental engineering professor and study co-author. “It is a very linear, one-directional flow of resources. Engineering a more circular nutrient cycle would create opportunities that could benefit the environment, economy and agriculture.”
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Imagine something similar to the Great Depression of 1929 hitting the world, but this time it never ends.
Economic modelling suggests this is the reality facing us if we continue emitting greenhouse gases and allowing temperatures to rise unabated.
Economists have largely underestimated the global economic damages from climate change, partly as a result of averaging these effects across countries and regions, but also because the likely behaviour of producers and consumers in a climate change future isn’t usually taken into consideration in climate modelling.
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Scientists have found a rapid way of producing magnesite, a mineral which stores carbon dioxide. If this can be developed to an industrial scale, it opens the door to removing CO2 from the atmosphere for long-term storage, thus countering the global warming effect of atmospheric CO2. This work is presented at the Goldschmidt conference in Boston.
Scientists are already working to slow global warming by removing carbon dioxide from the atmosphere, but there are serious practical and economic limits on developing the technology. Now, for the first time, researchers have explained how magnesite forms at low temperature, and offered a route to dramatically accelerating its crystallization. A tonne of naturally-occurring magnesite can remove around half a tonne of CO2 from the atmosphere, but the rate of formation is very slow.
Project leader, Professor Ian Power (Trent University, Ontario, Canada) said:
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A research analyst at Swiss investment bank UBS believes the cost of energy renewables could be so near to zero by 2030 “it will effectively be free,” according to a projections published on Monday. If renewables could soon be cheaper than all the alternative energy sources, and that this “is great news for the planet, and probably also for the economy.”
The analysis, published in the Financial Times, explains that solar and wind farms are getting bigger, and that the potential of this sort of cheap, green energy is far-reaching and will only get cheaper. “In 2010, using solar power to boil your kettle would have cost you about £0.03,” the analyst writes in FT. “By 2020, according to estimates by our research team at UBS, the cost will have fallen to half a penny.” And just ten years later, the costs will be so minuscule, it will practically be free.
See also: 7 Massive Corporations Going Green to Boost Their Bottom Lines.
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This story is brought to you by SynbiCITE, which is accelerating the commercialization of synthetic biology applications. To learn how SynbiCITE is nucleating a sustainable UK economy, visit www.synbicite.com.
Just as Henry Ford’s assembly line revolutionized the automobile industry, synthetic biology is being revolutionized by automated DNA assembly (see SynBioBetaLive! with Opentrons). The key features of an assembly line translate well into the field of synthetic biology – speed, accuracy, reproducibility and validation. Instead of welding chassis together, small robotic arms are lifting delicate plates holding dozens of samples, adding and removing miniscule amounts of fluid.
In 2014, Imperial College London received £2 million to develop a DNA Synthesis and Construction Foundry to operate with SynbiCITE, the UK Innovation and Knowledge Centre for synthetic biology. Speaking at the Foundry’s inception, SynbiCITE co-director Prof. Paul Freemont said, “Standardizing the methods for synthesising DNA is crucial if we are going to scale up efforts to design and create this genetic material. The new DNA Synthesis and Construction Foundry will streamline and automate the ‘writing’ of DNA at an industrial scale so that tens of thousands of designed DNA constructions can be built and tested.”
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We explore some of the ramifications arising from superflares on the evolutionary history of Earth, other planets in the solar system, and exoplanets. We propose that the most powerful superflares can serve as plausible drivers of extinction events, and that their periodicity corresponds to certain patterns in the terrestrial fossil diversity record. On the other hand, weaker superflares may play a positive role in enabling the origin of life through the formation of key organic compounds. Superflares could also prove to be quite detrimental to the evolution of complex life on present-day Mars and exoplanets in the habitable zone of M- and K-dwarfs. We conclude that the risk posed by superflares has not been sufficiently appreciated, and that humanity might potentially witness a superflare event in the next $\sim {10}^{3}$ years, leading to devastating economic and technological losses. In light of the many uncertainties and assumptions associated with our analysis, we recommend that these results should be viewed with due caution.
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