Economics

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This working group is focused on sustainable economics and financial balance within resilient social ecologies.

The mission of this working group is to build sustainable economy and financial balance within resilient social ecologies.

Members

Corey Watts david hastings Elhadj Drame John Girard Kathy Gilbeaux LintonWells
Maeryn Obley mdmcdonald Samuel Bendett

Email address for group

economics@m.resiliencesystem.org

Virus wipes out 5 years of U.S economic growth

The coronavirus pandemic’s toll on the nation’s economy became emphatically clearer Thursday as the government detailed the most devastating three-month collapse on record, which wiped away nearly five years of growth.

Gross domestic product, the broadest measure of goods and services produced, fell 9.5 percent in the second quarter of the year as consumers cut back spending, businesses pared investments and global trade dried up, the Commerce Department said.

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Remittances: They Crossed Oceans to Lift Their Families Out of Poverty. Now, They Need Help.

...Around the globe, the pandemic has jeopardized a vital artery of finance supporting hundreds of millions of families — so-called remittances sent home from wealthy countries by migrant workers. As the coronavirus has sent economies into lockdown, sowing joblessness, people accustomed to taking care of relatives at home have lost their paychecks, forcing some to depend on those who have depended on them.

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James Dimon's Warning for the U.S. Economy and uncertainties ahead

  • The range of outcomes for the economy in the second half is incredibly wide: JPMorgan Chase sees no fewer than five different paths it can take.
  • The bank has gotten more pessimistic, seeing unemployment in its default “base” scenario hitting nearly 11% by the end of this year, 4.3% worse than when it made the same forecast in April.
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‘Urgent’ Need for Businesses to Adapt to Growing Threat from Climate Change, McKinsey Says

           

A dog looks out of a house flooded by Hurricane Maria, in Catano town, Juana Matos, Puerto Rico, on September 21, 2017.  Hector Retamal | AFP | Getty Images

CLICK HERE - REPORT - Climate risk and response: Physical hazards and socioeconomic impacts - January 2020

cnbc.com - by Pippa Stevens - January 16, 2020

KEY POINTS

McKinsey said trillions of dollars in economic activity and hundreds of millions lives are at risk from a changing climate.

“Much as thinking about information systems and cyber-risks has become integrated into corporate and public-sector decision making, climate change and its resulting risks will also need to feature as a major factor in decisions,” McKinsey Global Institute director Jonathan Woetzel said.

BlackRock CEO Larry Fink warned this week that the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place “sooner than most anticipate.”

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