If only we could accelerate the technological development of the wider world, then we would surely see an explosion in the value created as eight or even ten billion humans harnessed the power of modern technology in an increasingly globalised economy... But that isn’t what happened.

Over the next six months, more than a million mortgages which were fixed when the interest rate was at 0.1 percent, will flip over to a standard variable rate of more than 6 percent...

The amount of currency in circulation is falling... and that isn’t a good thing, because it doesn’t mean that consumer goodies are going to be cheaper – rather, they are going to disappear entirely.

Central bankers, economists and politicians are trying to recreate the recovery of the 1980s. But this cannot work... here's why

The internet has always involved a race to the bottom, in which we seek out the best bargains while the corporations go about finding the cheapest means – which usually involves sweatshops in Asia or Sub-Saharan Africa

By “defy convention” and “democratise ocean exploration,” it turned out that Rush meant “use cheap materials” and “sell trips to the bottom of the ocean to rich chumps.”

If you were looking for a metaphor for the UK economy in 2023, you could do a lot worse than picturing a car that is running on the last vapours in the petrol tank. Its non-financial export industries are a mirage – plants which assemble components imported from elsewhere in the world, together with luxury goods which are vulnerable to the first whiff of a global recession.

The narrative itself is based upon a widely-accepted misunderstanding of technological progress which renders the current shittyness of any technology irrelevant.

So once again, it is ordinary working people – through increased housing costs, depressed wages, and unemployment – who get to pick up the tab – just like they did after 2008 – while the fat cats in the corporations hoover up the remaining assets...

When it comes to individual energy sources, economic complexity makes attempts to calculate EROI akin to medieval scholars attempting to determine how many angels can dance on the head of a pin.