Welcome. This is the 75th edition of my newsletter which offers a round-up of the week’s causes for optimism, as noticed in the media. Plus links to discussion of the optimism/pessimism gap, and debunking of optimism/pessimism.
* From a variety of sources. In the UK, “UK wage growth hits 11-year high” … “The UK jobs market has remained resilient with the strongest earnings growth in 11 years and robust employment creation” … “Excluding volatile bonuses, annual pay growth reached 3.9%” in the UK. Over in Germany… “continuing employment growth and rising incomes in Germany”. In July the… “USA added a solid 164,000 jobs to an economy that appears poised to extend its decade-long expansion” while “The tech talent labor pool in the U.S. grew by 16 percent in the past five years” and tech employment growth is spilling over to reach beyond the usual hotspot cities. Over in Israeli, tightly linked to the US tech scene, their Innovation Authority has just reported that… “Israel’s hi-tech employment rate rises to 8.7% of entire workforce”, up from 8.3% in the previous year.
* A recent EconTalk podcast was an in-depth interview with “Tyler Cowen on Big Business”, in which some robust and cogent defences were made of the role of larger American businesses in our lives. Note that there’s a big chunk in the middle of the podcast where the show veers off-topic, but the first and final thirds are well worth your time.
* In the Financial Times ($) this week… “Africa poised ‘to play a major role in the world’”… “Despite massive problems, the vast continent is faring better than many people imagine” as it steers a course between economic and population growth.
* In the West, the latest City Journal suggests we “Cool the Recession Talk”… “Economic indicators point to continued, moderate growth, despite the prognostications of the pundit class”.
* Cool the climate talk, say a large chunk of Italy’s scientists. The Italian Climate Petition in full.
* Spiked magazine debunks “The myth of ecocide” in the corporate media… “So many lies are being told about the Amazon fires.”
* “Ascension Island has committed to making a fertile Atlantic ‘Galapagos’, by designating all their waters a large-scale Marine Protected Area”. That’s 170,000 square miles, and this move is being backed up by major new funding and hi-tech monitoring from the British government.
* The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) talks have just concluded. The main new export protections are: increased protection on wild elephants and giraffes caught for export (if there’s “no real conservation benefit”); general protection for “18 more shark species”; and wood from “all Latin American species of cedar” trees will now require export permits. After previous CITES export restrictions on rosewood back-fired, CITES will now once again permit its use in musical instruments such as guitars.
* World’s Tiniest Engine Created. At present this is only a working prototype atomic-scale motor, but it’s claimed this… “ushers in a new era for the investigation of the energetics of technologies based on quantum theory”.
Enjoyed this post? There’s more at the ‘Something for the Weekend’ newsletter archive.