Competition Leads to the Proliferation of Redundant Commodities. Cooperation is Necessary to Deal with Global Warming
by John Lawrence
Private enterprise fueled by competition is a great mechanism for creating products which can be sold in the market place to consumers. This has worked wonders for economies both in the western world and in China where private enterprise brought 800 million people out of poverty in 40 years, the largest reduction in poverty in world history. This was accomplished by private enterprise at the local level not by communism at the national level. However, private enterprise, while good at creating products to be sold in the market place, is not good at global cooperation which is what is needed to solve the problem of climate change let along create world peace. The problem of cooperation on a multi state level has not been solved let alone hardly addressed with the result that human society is hastening down the path to its own destruction, meanwhile trying to proliferate the sale of gadgets and the making of money and the regaling of competition as the solution to the world's problems. It's not. Unless national societies can learn to cooperate, the destruction of the earth's ecosystems necessary for human and animal well being is assured. While giving lip service to reducing the effects of climate change, no politician anywhere in the world wants to contemplate the fact that national GDPs might actually have to be reduced in order to reorient human energy and natural resources to the most important job of saving the planetary environment so that humans can safely live in it. Last year, 2023, was the hottest year on record and the year in which the most carbon dioxide was released into the atmosphere, just the opposite of the necessary conditions to save the planet for human habitation on a long term basis.
Meanwhile, advertising is supercharging the hawking of relatively worthless redundant products to individual consumers. Bolstered by the upcoming presidential election and attention-grabbing sporting events such as the Olympics, the U.S. will account for almost a third of the total ad spend, rising 2.2% to $303.6 billion in 2023 and 7.6% to $326.7 billion in 2024. Lingering macroeconomic concerns are not expected to hold back ad spending in 2024 amid a confluence of attention-grabbing events. Global ad spending is on track to top $1T for the first time, WARC (the World Advertising Research Center) says. Five companies — Alibaba, Alphabet, Amazon, ByteDance and Meta — will attract 50.7% of global spending in 2023 and 51.9% in 2024. Their ad revenues are expected to increase by 9.1% in 2023 and by 10.7% in 2024, while the rest of the industry remains stagnant. “High interest rates, spiralling inflation, military conflict and natural disasters have made for a bitter cocktail over the preceding 12 months, but the latest earnings season shows that the ad market has withstood this turbulence and has now turned a corner,” said James McDonald, director of data, intelligence and forecasting for WARC, in a release. “With the establishment of retail media as an effective advertising channel, the advent of connected TV as the next evolution of conventional video consumption, and the continued growth of social media and search, we are seeing once again the value advertisers place in leveraging first-party data to target the right message to the right person at the right time,” McDonald continued. WARC’s forecast suggests social media will account for $227.2 billion of ad spending in 2024, more than a fifth (21.8%) of the total spend. Meta, which owns Facebook, Instagram and Whatsapp and controls almost two-thirds of the social media market, can expect to see more than $146 billion in ad revenue, followed by TikTok owner ByteDance, which will see just under $40 billion in ad revenue (equating to a 17.6% share). It is to be noted that Meta does not produce one product necessary for human survival.
The force feeding of products to individual consumers is reminiscent of the force feeding of ducks to produce foie gras. It's relentless. United States Private Consumption accounted for 67.5 % of its Nominal GDP in Sep 2023. In other words without private consumption of individual consumer oriented products, the US GDP would hardly exist. Yet for the world to get climate change under control, it must reduce private consumption and individual competion for sales to consumers and redirect these resources to combating climate change. Instead human beings prefer actual combat and competition among nations to the global cooperation and cooperation between nations and the national efforts required to get climate change under control. It's a different mindset than the mindset that competition to sell products in the market place in order to get rich engenders. 2023 was the hottest on record by a long shot. Europe’s top climate agency released data showing 2023 global temperatures averaged 1.48 degrees Celsius above pre-industrial levels. Record-high temperatures are expected to continue this year. The planet didn't just set a new global annual heat record. It shattered previous records.
Greenhouse gas emissions from fossil fuels are projected to reach a record 36.8 billion metric tons in 2023, an increase of 1.1% over 2022, according to an annual report by the Global Carbon Project. While emissions of carbon dioxide (CO2) are declining in some regions including Europe and the United States, they continue to rise overall, the authors said, adding that global action to reduce fossil fuel consumption is not happening fast enough to prevent dangerous impacts from climate change. The steep reductions that are urgently needed to meet global climate targets have yet to emerge, said Professor Pierre Friedlingstein of Exeter’s Global Systems Institute, who led the study. Atmospheric CO2 in 2023 will likely reach 419.2 ppm, 51% above pre-industrial levels. Remember when countless scientists, climate experts, and governments officials agreed that 350 ppm was the “safe” level of carbon dioxide?
So the handwriting is on the wall. Far from an all hands on deck effort to prevent climate change so that future generations can live in peace and comfort on planet earth, global competition in both the commercial and military realms is the preferred and ongoing mode of human behavior, climate change and global warming be damned. Hey, humans seemingly say, we'll get around to preventing climate change just as soon as we win this war. Human greed and the competition among greedy individual participants is a far greater force than altruistic human cooperation to do what's right by future generations. Greed has outpaced morality in the competition for individual accumulation of economic and financial resources. The cooperation and sacrifice that the world saw in the 1930s and 40s to win the Second World War is nowhere to be found today. The US is still preoccupied with individual consumption and especially in entertainment venues which contribute nothing to the effort to make the world safe in terms of climate change. Instead of making the world safe for democracy we must change the paradigm to making the world safe and habitable for future generations by an all hands on deck effort to prevent global warming, an effort, objectively speaking, that seems doomed for failure unless our collective mindsets somehow find a way to change. By the way, U.S. oil production reached a record high of over 13 million barrels per day in September 2023, surpassing all other countries.