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Nuclear Energy's Economic Challenges Through History

Explore how nuclear energy faces financial crises like past historical events such as the Crash of 1929 and the Mortgage Crisis of 2007. Analyze various economic theories and the impact of labor and knowledge in the modern economy.

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Nuclear Energy's Economic Challenges Through History

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  1. NUCLEAR ENERGY FACING FINANCIAL CRISES Professor Dr. André MAÏSSEU WORLD COUNCIL OF NUCLEAR PROFESSIONALS & WORKERS Rio de Janeiro, September 2009

  2. "DEREGULATION, CRASH, RECESSION, BAILOUT…” SOUND FAMILIAR? PROBABLY. SOUND MODERN? IT SHOULDN’T. EVERYONE KNOWS ABOUT THE GREAT DEPRESSION, BUT MANY FORGOT THE CRISES OF 1717, 1819, 1837, 1857, 1873, 1893, 1907, 1929, etc… … WERE ALL SURPRINSINGLY SIMILAR. NUCLEAR ENERGY FACING FINANCIAL CRISES

  3. NUCLEAR ENERGY FACING FINANCIAL CRISES JOHN LAW SYSTEM CRASH – 1717 : First creation of “paper currency” PANIC OF 1837 : End of payment in gold and silver coinage CRISIS OF THE GILDED AGE-1873 PANIC OF 1893 KNICKERBOCKER TRUST PANIC-1907 CRASH OF 1929 2001-2002 INTERNET BUBLE CRASH MORTGAGE CRISIS - 2007/2008

  4. ALWAYS A BREAK OCCURS IN THE SIGNIFICANCE OF THE WORD “CURRENCY” AND ITS CREATION PROCESS DOES IT MEAN SHELLS, GOLD, SILVER ? PAPER MONEY ? PLASTIC MONEY (CREDIT CARD) ? WHO DOES CREATE MONEY ? STATE, BANK, WALL STREET, TRADERS … NUCLEAR ENERGY FACING FINANCIAL CRISES

  5. FROM TIME TO TIME IN HUMAN HISTORY THERE OCCUR EVENTS OF A TRULY SEISMIC SIGNIFICANCE, EVENTS THAT MARK A TURNING POINT BETWEEN ONE EPOCH AND THE NEXT, WHEN ONE ORTHODOXY IS OVERTHROWN AND ANOTHER TAKES ITS PLACE. NUCLEAR ENERGY FACING FINANCIAL CRISES

  6. NUCLEAR ENERGY FACING FINANCIAL CRISES SUCH FINANCIAL / ECONOMIC CRISES OCCUR SO PERIODICALLY IT SEAMS TO BE LINKED TO THE ECONOMIC GROWTH.

  7. NUCLEAR ENERGY FACING FINANCIAL CRISES IN THE 20th CENTURY, EACH TIME A CRISIS AROSE, THE US FEDERAL RESERVE CAME TO THE RESCUE BY SIGNIFICANTLY LOWERING THE FEDERAL FUNDS, IN ORDER TO PUMP LIQUIDITY BACK INTO THE MARKET AND AVERT ANY FURTHER DETERIORATION.

  8. THE RESPONSE WAS ALWAYS THE SAME : AFTER THE 1987 STOCK-MARKET CRASH, THE GULF WAR, THE 1994 MEXICAN CRISIS, THE 1997-98 ASIAN FINANCIAL CRISIS, THE 1998 LTCM DEBACLE, THE 2000-01 INTERNET BUBLE CRASH, … THE 2007-2008 MORTGAGE CRISIS. NUCLEAR ENERGY FACING FINANCIAL CRISES

  9. HENRY WAXMAN, CHAIRMAN OF THE CONGRESSIONAL COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM, QUESTIONED ALAN GREENSPAN, : “IN OTHER WORDS, YOU FOUND THAT YOUR NEO-LIBEARL VIEW OF THE WORLD, YOUR IDEOLOGY, WAS NOT RIGHT; IT WAS NOT WORKING?“ NUCLEAR ENERGY FACING FINANCIAL CRISES

  10. NUCLEAR ENERGY FACING FINANCIAL CRISES GREENSPAN, THE LONG-SERVING CHAIRMAN OF THE US FEDERAL RESERVE REPLIED: "ABSOLUTELY, PRECISELY."

  11. NONE ECONOMIC THEORY, MARXIST THEORIES, POST-KEYNESIAN THEORIES, COORDINATION GAMES, HERDING AND LEARNING MODELS, NEO-LIBERALISM, etc, SEEMS NOT ABLE TO EXPLAIN ECONOMIC / FINANCIAL CRISIS. NUCLEAR ENERGY FACING FINANCIAL CRISES

  12. MANY ECONOMISTS HAVE COME UP WITH THEORIES ON HOW A FINANCIAL CRISIS DEVELOPS AND HOW IT COULD BE PREVENTED. THERE IS, HOWEVER, NO CONSENSUS. AND FINANCIAL CRISIS ARE STILL A REGULAR PHENOMENON NUCLEAR ENERGY FACING FINANCIAL CRISES

  13. IF NONE ECONOMIC THEORY SEEMS ABLE TO EXPLAIN ECONOMIC / FINANCIAL CRISIS, THAT DOES NOT MEAN THESE ECONOMIC THEORIES ARE ERRONEOUS. THEY ARE INCOMPLETE. SOMETHING IS MISSING IN THEIR COMMON BASES NUCLEAR ENERGY FACING FINANCIAL CRISES

  14. NUCLEAR ENERGY FACING FINANCIAL CRISES NEO-MALTHUSIAN (THE ECOLOGIST VIEW) ANALYSE, AS CONVENTIONAL ECONOMIC ANALYSES, WHETHER INTEGRATIONIST OR REDUCTIONIST, WHETHER INSPIRED BY KEYNESIAN, NEO-CLASSIC OR MARXIST THEORIES, WHATEVER DIFFERENCIES ARE BASED ON THE SAME DOGMAS

  15. THE REVERSIBILITY OF ECONOMIC PROCESSES  LABOUR AS A PRODUCTION FACTOR  THE EXISTENCE OF A CONSERVATIVE, CLOSED ECONOMIC SYSTEM, WHOSE LIMITED RESSOURCES ARE REGULATED BY DETERMINISTIC PROCESSES NUCLEAR ENERGY FACING FINANCIAL CRISES

  16. NUCLEAR ENERGY FACING FINANCIAL CRISES TIME AS A MEASURE OF TECHNICAL PROGRESS; THE ADDITIVELY OF THE PRODUCTION FUNCTION; THE MYTHICAL EXISTENCE OF THE GENERAL EQUILIBRIUM; etc...

  17. NUCLEAR ENERGY FACING FINANCIAL CRISES ARE THE ECONOMIC SYSTEM MOVES BY REVERSIBILITY ? IS Y(-t) = -Y(t) ? NO ! ECONOMIC SYSTEM HAS TO FOLLOW PRIGOGINE NON-REVERSIBLE THERMODYNAMICS

  18. NUCLEAR ENERGY FACING FINANCIAL CRISES LABOR IS DUAL : OPUS & LABOR   or  &  : ENERGY AND KNOWLEDGE Y = f(K(t), M(t), U(t),E(t))

  19. NUCLEAR ENERGY FACING FINANCIAL CRISES THE CONVENTIONAL FUNCTION OF PRODUCTION Y = f(K, L) DESCRIBES A CLOSED SYSTEM OF LIMITED RESOURCES RUNS BY REVERSIBLE PROCESSES BASED ON THE USE OF AN HAMILTONIAN MOVING “NATURALLY” TO EQUILIBRIUM; SOME PARTIAL LOCAL INSTABILITITES COULD BE EXPLAINED BY NON-LINEAR MATHEMATICALS FUNCTIONS

  20. NUCLEAR ENERGY FACING FINANCIAL CRISES THE NEW FUNCTION OF PRODUCTION Y = f(K, M,U,E) GESTALTECONOMY

  21. NUCLEAR ENERGY FACING FINANCIAL CRISES

  22. KNOWLEDGE AND ENERGY FLOWS ARE CENTRIFUGAL FORCES. THEY ARE THE MAIN MOTORS OF ECONOMIC GROWTH AND DEVELOPMENT THEY CREATE WEALTH REAL ECONOMY NUCLEAR ENERGY FACING FINANCIAL CRISES

  23. NUCLEAR ENERGY FACING FINANCIAL CRISES CAPITAL IS A CENTRIPETAL FORCE WHICH CAN DESTROY THE SYSTEM. IT HELP THE ECONOMIC ENGINE RUNNING. IT DOES NOT CREATE WEALH VIRTUAL ECONOMY

  24. NUCLEAR ENERGY FACING FINANCIAL CRISES THE ADDED VALUE OF THE KNOWLEDGE EMBODIES IN THE INCREASE OF (ENERGY+MATTER) FLOW MUST BE EQUAL TO THE VALUE ADDED IN THE CURRENCY FLOW

  25. NUCLEAR ENERGY FACING FINANCIAL CRISES CRISIS - BLOCKADE OR OVERFLOW - OCCURS WHEN VIRTUAL ECONOMY ECLIPSE REAL ECONOMY

  26. NUCLEAR ENERGY FACING FINANCIAL CRISES ITS HAPPENS ALSO WHEN DISFUNCTIONING OCCURS, DUE TO MAJOR INNOVATIONS WHICH TACKLE THE METATECHNOLOGIES SUPPORTING THE PRODUCTION FACTORS

  27. THE 2008-2009 MORTGAGE CRISIS OCCURS AT THE TIME OF A SOCIETAL PARADIGM CHANGE FROM THE 20th CENTURY TO THE 21th CENTURY… AS IT OCCURED SOME TIME AGO DRIVEN BY KONDRATIEFF-SCHUMPETER CYCLES NUCLEAR ENERGY FACING FINANCIAL CRISES

  28. THE KONDRATIEFF – SCHUMPETER CYCLES DRIVE IN EUROPE A SUCCESSION OF SOCIETAL PARADIGMS WHICH DESIGN DEVELOPMENT ... AND STOP

  29. NUCLEAR ENERGY FACING FINANCIAL CRISES AT EACH PARADIGM REVOLUTION, GEOPOLITICAL SITUATION MAY OVERTURN, DEPENDING THE ABILITY OF THE SEVERAL PLAYERS TO MASTER THE PREVIOUS SITUATION AND FUTURE BASES.

  30. CENTENNIAL EVOLUTION ENERGY...STRICTLY LINKS WITH PARADIGM DEVELOPMENT ...OR COLLAPSING

  31. NUCLEAR ENERGY FACING FINANCIAL CRISES AT THE COAL REVOLUTION THE WINNER ISU.K. ! also due to its strong banking system and currency  FRANCE LOST ITS LEADERSHIP

  32. NUCLEAR ENERGY FACING FINANCIAL CRISES AT THE OIL REVOLUTION THE WINNER ISU.S.A. ! also due to its strong banking system and currency  U.K. LOST ITS LEADERSHIP

  33. NUCLEAR ENERGY FACING FINANCIAL CRISES AND NOW ?

  34. NUCLEAR ENERGY FACING FINANCIAL CRISES WHAT IS THE GOOD CHOICE ? THE ECOLOGIST CHOICE OF EUROPEAN UNION ?

  35. NUCLEAR ENERGY FACING FINANCIAL CRISES OR, THE SANTOS DUMONT CHOICE ?

  36. NUCLEAR ENERGY FACING FINANCIAL CRISES AT THE NUCLEAR REVOLUTION THE WINNER WILL BE B.R.I.C. ! which must also master the non-scriptural currency revolution  IS U.S.A. LOOSING ITS LEADERSHIP ?

  37. NUCLEAR ENERGY FACING FINANCIAL CRISES • FROM REGRESSION BASED ON ENTROPIC EXPLOITATION OF TANGIBLE, • TO DEVELOPMENT BASED ON NEGENTROPIC USE OF INTANGIBLE

  38. NUCLEAR ENERGY FACING FINANCIAL CRISES • FROM EXPLOITATION OF NATURAL RESOURCES • THE WAY WHICH ENSURES WAR • TO THE USE OF HUMAN SKILLS • THE WAY TO SUSTAINABLE PEACE

  39. NUCLEAR ENERGY FACING FINANCIAL CRISES THE MOST EFFICIENT ENERGY RESOURCES ARE THE ONE WHICH ARE THE MOST “KNWOLEDGE” VALUABLE  THE MOST CAPITALISTIC  NUCLEAR ENERGY

  40. NUCLEAR ENERGY FACING FINANCIAL CRISES Either, we will follow the absurd and dark path marked out by ignorance, and decide to discard nuclear energy : Pollution will continue to spread its black wings over the entire planet. The wealth of Nature will diminish. The poor will be even poorer and ever more numerous, which will create all conditions for wars

  41. NUCLEAR ENERGY FACING FINANCIAL CRISES Or, we can choose to resume economic growth, creating wealth, jobs, preserving our environment, based on the increased use of nuclear energy and create all necessary conditions for a peaceful world.

  42. NUCLEAR ENERGY FACING FINANCIAL CRISES • DUE TO NUCLEAR ENERGY •  WEALTH  •  WASTE RECYCLING • POLLUTION  • THE WORLDWIDE N°1 FRIEND: NUCLEAR ENERGY

  43. NUCLEAR ENERGY FACING FINANCIAL CRISES MERCI DE VOTRE ATTENTION Prof. Dr. André Maïsseu

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