Continuing @AuManufacturing’s expert series looking forward from the Jobs and Skills Summit, Jeff Lang looks at Australian sustainable advanced technologies and how they could contribute to a decarbonised sovereign economy.
With the new global economic reset manifesting as disrupted supply chains, geopolitical risk, world division of labour and climate change dystopia, Australia has had its culture stripped of its capacity to function as a sovereign nation.
We have regressed into isolationism, as opposed to creating a progressive era of modernism.
The world’s economy is in a tedious phase of uncertainty as we live with disruptions to global supply chains and shift exponentially into a new world of advanced digital technologies and developments that require very different resources and skill sets to those currently being offered.
Australia’s future economic growth strategy can lead humanity into era of modernisation characterised by scientific thought, ethical individualism and social governance.
The focus here is on transitioning to carbon net zero through sustainable resource management, green renewable energy, and advanced technological developments.
Australia’s lack of a future vision, for sovereign economic growth, has seen our natural resources exploited at our own expense.
Let’s be realistic, Australia is a prime example of modern colonialism which has allowed the vested interests of a select few to pillage our natural resources.
China, as just one example, has built their sovereign growth infrastructure from Australian mineral and energy resources to the detriment of our own GDP.
Australian economic growth pre-pandemic was solely dependent on population growth, mainly immigration.
To further add context to our lack of future foresight our Australian educators decided it was more profitable to educate international students than develop Australian’s future generation brains trust.
Australia has both the opportunity and responsibility to be the world leader in sustainable advanced technologies and a decarbonised economy.
That is if humanity is to evolve beyond its collective existential crisis characterized by the current financial “contagion” of instability in the international financial markets that desire constant change in the pursuit of profits.
Financial capitalism encompasses the significant power of the wealth holders to overly influence political process and economic policy to disproportionally benefit their investments.
The current power of wealth in Australia is considered essential to the character and dynamics of the Australian economy.
However it abuses relational power to subordinate the public and businesses into being in constant fear of financial uncertainty.
In contrast, structural power creates a symbiotic relationship between all stakeholders that will shape and determine the structure of the Australian economy.
The world’s financial system is a subordination process of production for the accumulation of profits where the intermediation of saving to investment becomes a dominant function in any nation’s economic growth strategy.
With the emergence of ESG investment, Environmental, Social and Governance, these three key factors measure the sustainability and ethical impact of investment in companies however not for governments or national economies.
The three core essentials of ESG that successful companies focus on are people, process, and product.
So maybe it’s time for this great nation of Australia to use the metrics of ESG to create sovereign economic growth for the benefit of all.
With strong academic, science and industry capabilities networks that are respected globally and founded on our abundant natural resources, Aussie ingenuity and innovative culture Australia has an unprecedented opportunity to be the leading nation for ESG investment into sustainable advanced technologies and a decarbonised economy.
Australia has a unique value proposition for the future of humanity and this world by creating sustainable resource management, renewable energy, advanced manufacturing technology, carbon neutrality and creative education methodologies built on international ESG investment.
BULK PROCUREMENT CAN REVITALISE GOVERNMENT PURCHASING POLICY AND IMPACT – BY MARK LEITH
INTEGRATING SCIENCE, TECHNOLOGY, INNOVATION AND INDUSTRY POLICIES – BY DR JOHN HOWARD
CLIMB ANOTHER SUMMIT TO HIGH VALUE MANUFACTURING AND INNOVATION – BY PROFESSOR JOHN SPOEHR
INDUSTRY POLICY – THE POLICY THAT DARE NOT SPEAK ITS NAME AT JOBS SUMMIT
AN ECONOMIC SUMMIT WITH PURPOSE – BY ROY GREEN
WE NEED MORE THAN MADE IN AUSTRALIA – BY DR JENS GOENNEMANN
Picture: Jeff Lang