Millennials see this inequality that the industrial revolution brought about over the past 100 or so years.
We don't need to talk about the pollution of the seas and land that humans have caused over the past 100 years.
The younger generations are worried about the future, as they are the ones who shall have to “fix it“.
Life and values have changed dramatically due to these fears.
These are not issues of a small magnitude.
Yet, there is not a single “instant solution”.
Some are repeating the mistakes of the past, by suggestion capitalism, liberalism, socialism, communism etc as potential solutions. All failed theories that have brought nothing but death and intolerance.
When we are talking economics, we need to look at what got us here to where we are today:
The British got the industrial revolution happening, they got steam utilized for transport, all of a sudden logistics and supply lines were possible that changed the world. Soon after that we saw telecommunications evolve, after which the personal transport industry boomed, Henry Ford got people into cars and at affordable prices.
Oil then became a need!
This then got us closer to where we are today.
Fossil fuels are 100% natural and are what we are dependent upon.
Believe it or not, not only petrol(eum), but plastics, many things such as chemicals, medicines, clothing are all dependent on fossil fuels.
We are totally dependent on fossil fuels for the majority of our needs in todays day and age.
Then we get to one simple equation:
If the price of fossil fuels goes up, so too does the price of living in this day and age. The economies are subject to pressure from all markets and all working class levels of society.
This post is part 2 of {Looking Back So That We Can Look Forwards. (Mini Series)}(https://hive.blog/economics/@jackmiller/looking-back-so-that-we-can-look-forwards-mini-series-1613119432)
Source: https://jackmiller.info
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