Lifeboat Foundation

Every 100 years or so, our Sun gives off a great big belch that sends an intense wave of charged particles towards Earth. This wasn’t a problem in the past, but our high-tech civilization is now disturbingly vulnerable to these solar storms. A new study quantifies the economic risks posed by these extreme solar storms, while also proposing a super-futuristic solution to the problem: an Earth-sized shield built in outer space.

The term “solar storm” is used to identify the various nasties the Sun can hurl our way, including x-rays, charged particles, and magnetized plasma. In 1859, a series of powerful coronal mass ejections (CMEs) hit our planet head on, disrupting telegraph stations and causing widespread communication outages. If we were to be hit by an equally powerful solar storm today, it would knock out satellites and electrical grids, disrupting global communications, transportation, and supply chains. Total worldwide losses could reach up to $10 trillion, with recovery taking many years.

GomSpace Group, a company listed on the Nasdaq First North Premier exchange, and the Luxembourg Economy Ministry agreed in principle to establish in the country a company focused on satellite operations and data processing and distribution.

By 2021 the company could employ up to 50 full-time staff, GomSpace said in a statement. The ministry will provide funding through its Luxembourg space programme as well as grants for research and development that will happen in the country, it said.

“By choosing the Grand-Duchy for their international expansion, GomSpace acknowledges the substantial efforts of the government over the last years to put in place the necessary measures to support the continued strengthening and diversification of its space sector,” Economy Minister Etienne Schneider said.

Continue reading “Investment: GomSpace to establish space company in Luxembourg” »

Will any of the jobs that exist today still be around in 20 years? Fast Future’s Steve Wells, Alexandra Whittington and Rohit Talwar explore whether automation is destined to rewrite all our futures.

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Most of America is deteriorating economically.

Economic prosperity is concentrated in America’s elite ZIP Codes, but economic stability outside of those communities is rapidly deteriorating.

Continue reading “The large parts of America left behind” »

Tech startup fund Y Combinator has announced plans for a new basic income trial in the U.S. in which participants receive $1,000 monthly.

The United States would realize roughly $9 billion a year in economic gains by instituting a simple, nationwide policy change: starting public school classes no earlier than 8:30 a.m.

That’s according to an exhaustive new study by the Rand Corporation, the first of its kind to model the nationwide costs and benefits of later school start times.

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How can we protect Europeans in digital age? Our proposals:
📌 An EU Cybersecurity Agency to defend us from cyber-attacks.

📌 A European certification scheme to ensure that products and services in the digital world are safe to use.

Just like the game of Monopoly, which was created to illustrate the operation of laissez faire capitalism, there is always one big winner at the end of the game.

“Wealth concentration drives a vicious, downward cycle, throttling the very engine of wealth creation itself.”

“Because: people with lots of money don’t spend it. They just sit on it, like Smaug in his cave. The more money you have, the less of it you spend every year. If you have $10,000, you might spend it this year. If you have $10 million, you’re not gonna. If you have $1,000, you’re at least somewhat likely to spend it this month.”

Continue reading “Insanely Concentrated Wealth Is Strangling Our Prosperity” »