Last August, Sen. Elizabeth Warren (US Senate) introduced the “Accountable Capitalism Act”. The legislation is intended to restore the idea that giant (American) corporations should consider the interests of all major corporate stakeholders ( employees, customers and the community and shareholders), not only shareholders, in company decisions. The Act provides: – Very large American corporations must obtain a federal charter as a “United States corporation,” which obligates company directors to consider the interests of all corporate stakeholders; – The boards of United States corporations must include substantial employee participation (no fewer than 40% of its directors must be selected by the corporation’s employees); – Sales of company shares by the directors and officers of United States corporations are restricted; – United States corporations must obtain shareholder and Board approval for all political expenditures; – A United States corporation that engages in repeated and egregious illegal conduct may have its charter revoked. The principle of “maximisation of shareholder value” adopted in the 1980s is damaging not only society at large, but corporations the adopt it as well; this due to a too low percentage of profits reinvested in the company to foster its growth. This is true not only in the USA but also in Europe; should we think to introduce a legislation similar to the Accountable Capitalism Act also in Europe? References: https://www.warren.senate.gov/download/accountable-capitalism-act-one-pager https://www.congress.gov/bill/115th-congress/senate-bill/3348/text
Cities are, right now, part of the problem in adressing climate change. Cities consume 2/3 of the world’s energy and are responsible for 70% of global CO2 emissions. In order to build a sustainable future, cities need to become part of the solution. There is so much that needs to be done, we need to increase the use of renewable energy(wind, solar etc), upgrade the energy efficiency in buildings, transit to electric vehicles with lithium-air batteries, support community farms(intensive farming has a negative impact in global warming). Cities need to do this but they can’t do it alone; these changes are necessary but expensive. And this is where the European Union is important. The EU has the dimension, funds and power to push for this transition by creating a Green New Deal. A Green New Deal would build a sustainable and more green future in Europe but also solve the problems of chronical unemployment. With all the problems that unfair trade policies create to Blue-Collar Working class; green collar jobs are the alternative ! They can’t be shipped overseas and many of them can’t be replaced by technology in the near future. We will need green building architects, solar energy engineers, eletricians who install solar panels, worker’s that insulate older buildings and many other jobs of low, medium and high skill that need to be here in Europe! I’m optimistic about these changes, after all, cities are the magnet for innovation, entrepeneurship and development and the combination in a partnership with businesses and the European Union we will build a more susteinable future.
We all know that Shenzhen and Northern China, in general, is already on a next level when it comes to urban planning, smart cities, blockchain, IoT networks, and machine autonomy powered by sophisticated AI. In fact, Shenzhen has taken technological advancement so far that if you’re trying to trespass a road, facial recognition software established in every traffic light will recognize you and send you an sms with your fine to pay. No traffic police, no conversations, no human interference at all. If you’re insisting on trespassing and/or disobey the advanced system in other ways, your digital profile gets “damaged” and in some cases, you lose social abilities, like the ability to vote, or even get a house loan. I won’t say that this is good or bad, it is necessary. But, we could find a better arrangement of how to introduce technological advancement to the common public. So in this case, before asking people to pay fines to the machinery, we first must let the machinery to reward people for their contribution to the city and its standards. An example discussed recently with an ex Ethereum developer, is rewarding people for recycling. Many countries already reward citizens for recycling plastic, glass bottles and other trash. What if we establish a standard European protocol, where EU member counties should use smart recycling bins, with IoT connectivity, being able to tell who is throwing away what, and in what quantity, and reward him accordingly. At the same time, the bin will be able to store data and sense its storage capabilities, interfering with the respective recycling agency to ensure maximum efficiency. For example, recycling trucks wouldn’t have to visit the bins every day, but instead, should visit only bins that are nearly full, as their monitored by the IoT network. Other use-cases could include air pollution levels depending on the car model, house energy plan a citizen uses etc. If you’re updated, you get a reward, if you’re damaging the environment because you’re stuck in your ’82 Mazda or your oil-powered heating system, you not only won’t be rewarded but in extreme cases, you should be fined. Note that this has nothing to do with UBI, but it is strictly meant to be a “reward” and not an income. With City Points, an EU citizen could buy food, groceries, and other basic materials. The citizen could use the points in exchange for a trip to another EU country and even be able to spend his City Points there. So if I am stuck in Amsterdam for a day, I could use my city points gathered from Thessaloniki to buy a cup of coffee and some breakfast while I am waiting for the plane. City Points won’t be legitimate to use as a currency, neither you could buy a house or a car with CP, no matter how many points you have. Would love to hear from you and discuss this topic. Originally posted at: https://ec.europa.eu/futurium/en/comment/8495#comment-8495