Capitalism

World stock markets may be over-valuing companies with fossil fuel assets that may be unburnable, UK lawmakers warned Thursday. The UK's Environmental Audit Committee released a report warning that over-priced fossil fuel assets pose a systemic risk to global markets. "The UK government and Bank of England must not be complacent about the risks of carbon exposure in the world economy," said committee chair and member of parliament Joan Walley.

Please allow me hail this meeting of the European Left and, in the name of our President, of our country and of our people thank you for inviting us to exchange a whole body of opinions and ideas on the platform of this most important Congress of the European Left. Please allow me to be blunt but also to put forward proposals. How do we see Europe from the outside? We see a Europe that is flagging, we see a demoralised Europe, withdrawn and tuning inwards yet very self-satisfied, and we see a Europe rather apathetic and tired.

Time to get excited, everyone: There’s a freshly leaked document from the Trans-Pacific Partnership (TPP) in town, courtesy of the Peruvian website Redge.org.

How much is Canada worth? About $33 trillion according to one recent reckoning, based only on our oil and timber resources. Those two commodities alone make Canada the fourth richest country on Earth, and number two on a per capita basis -- just behind Saudi Arabia. Divided between 35 million Canadians, every one of us is close to being a millionaire. Like the TV commercial says, you're richer than you think.

Getting radical anti-capitalist ideas wrong and ignoring those ideas  completely are timeworn traditions for U.S. intellectuals. The habits go back a long way and have continued through the current millennium. The consequences can be deadly, as is seen with two short books printed by leading U.S.

The global financial system displays the same bounded resilience that many complex systems in nature display. Within certain limits the system maintains its integrity but when those limits are broken positive feedback loops can rapidly move the system to a very different state. We refer to such events in the financial markets as “crashes”. Given that the financial system is central to the allocation of capital and liquidity, such crashes rapidly impact the “real” economy.

Two recent communications from respected global organizations have underscored the long-term impacts of climate change – and the potential vast effects on business. Communiques from the World Bank and the United Nations both highlighted the complex, long-lasting and extraordinarily costly nature of the problem.

The creator of The Wire, David Simon, delivered an impromptu speech about the divide between rich and poor in America at the Festival of Dangerous Ideas in Sydney, and how capitalism has lost sight of its social compact. This is an edited extract.

In preparation for the upcoming North American Leaders Summit which will be held in Toluca, Mexico on February 19, U.S. Secretary of State John Kerry recently held a meeting with his Canadian and Mexican counterparts. Over the last number of years, not as much attention has been given to the trilateral relationship. Instead, the U.S. has essentially pursued a dual-bilateral approach with both Canada and Mexico on key issues including border and continental perimeter security, as well as regulatory and energy cooperation.

Once a year the world's political and business leaders flock to a small town in the Alps, where they drink champagne, chow down on fondue and chocolate covered strawberries, hit the ski slopes, bathe in hot tubs and exchange business cards as they congratulate themselves on the fine job they're doing running things. Oh, and while in Davos, Switzerland, they also participate in the World Economic Forum (WEF), which is underway this week and ends Saturday.