The Poly Crisis and the Fictitious Capital Crisis

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

F fictitious capital is where the monetary financial value of an asset is divorced from the underlying capital or asset you're supposed to represent. I think there's a lot of fictitious capital in that system because our models and theories and narratives are so divorced from how the world actually works. And we argue in debate about what we should do and who is responsible but this layer of fictitious capital fails the true workings of the system and how we got here.

On this episode, Nate is joined by recent Stanford graduate and biophysical researcher Taimur Ahmad to discuss energy inequality within and across nations. Taimur offers a unique perspective as someone who has spent years studying the issues of the polycrisis, while also having experience growing up in Pakistan and living in the United States. How does the culture of a nation and its access to energy interrelate to create huge differences in the daily lives of the people who live there? How do the looming implications of climate change and energy depletion impact the relationship between the Global North and the Global South? And how do issues of class, wealth, and ‘fictitious capital’ interplay with the larger poly-crisis at hand?

About Taimur Ahmad

Taimur Ahmad is the author of the Fictitious Capital newsletter where he writes about understanding the base layer of the global system: money/finance, energy, and raw materials. He studied economics at Georgetown University in Qatar and recently completed a graduate degree from Stanford University where he focused on energy policy and electricity markets. After working in agricultural development in Pakistan, he worked in the Middle East supporting clients across energy, CP&I, and national development. From these experiences, he realized the importance of reframing contemporary socioeconomic issues in an energy and ecological systems framework. His work is now focused on exploring the intersection of development in the Global South, degrowth/post-growth, MMT, and leftist social theory.

To watch this video episode on YouTube: https://youtu.be/4hzDKA0aNJk

For show notes, and more information: https://www.thegreatsimplification.com/episode/80-taimur-ahmad