Listener: 26 March, 2005
Keywords: Environment & Resources;
One day the world’s total oil production will peak, and decline thereafter. Some experts think that it will be this year or next, others predict that the peak is decades off. In 1979, British Petroleum experts predicted that it would happen in 1985. Forecasting the date involves a complicated assessment of future oil demands, production possibilities and costs of depleting fields, the discovery of new fields, and the extent to which alternative fuels will substitute.
But one day – probably in our lifetime – the world’s total oil production is going to peak.
The Royal Society of New Zealand which made a grant to pursue this work, requires an annual report of work in progress. It was submitted in March 2005. This is an edited version.
Keywords: Globalisation & Trade;
Summary
The Marsden Fund of the Royal Society of New Zealand made a grant to fund three years research (at 60 percent of the time) to research and write a book on the topic of globalisation as it affects New Zealand. The grant began in November 2003. This report is written towards the end of March 2005.
Contents
Keywords: Globalisation & Trade;
Paper for the Symposium “Institutions and Economic Development”, University of Otago, 18-19 March (Also draft of chapter for “Distance Looks Our Way”.)
Keywords: Globalisation & Trade; Political Economy & History;
Introduction
The Royal Society of New Zealand has awarded me a Marsden Grant to study globalisation. The ultimate output will be a book. This paper presents a draft of one of its chapters. Because it is a conference paper, it is necessary to say something about the context in which the chapter takes place. The study is based on five primary principles.
Listener: 12 March, 2005.
Keywords: Macroeconomics & Money;
Underneath much of economics is the notion of “homeostasis”, the tendency to respond to an external shock by adjusting internally to maintain equilibrium. So a surge in demand for a product results in its price rising, reducing the amount demanded and increasing the amount supplied.
