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The Key Resources Underpinning Modern Economies with Ed Conway | TGS 127

(Conversation recorded on May 7th, 2024) Show Summary: In contrast to ‘The Great Simplification’, some might call the events of the last few hundred years a ‘Great Complexification’ in terms of relationships, governance, supply chains, and many other human activities. Today’s conversation with economics journalist Ed Conway focuses on the six essential resources that underpin our modern economies – sand, salt, iron, copper, oil, and lithium - and dives into the (often unseen) environmental and human costs of extracting them, as well as the surprisingly fragile global supply chains they fuel. In order to understand what possibilities – and dangers – may await us in the future, we need to understand the realities and constraints of the present, as well as the fail points of the past. What does it take to mine, refine, and transform the materials that are foundational to the world around us - which many of us now take for granted? How can we ensure the stability of global supply chains, and could we predict potential disruptions and chokepoints before they arise? If we understood the intricate web of complexity, energy, and resources that go into everything we consume, would it change our expectations for how much we need in order to live a good and fulfilling life? About Ed Conway: Ed Conway is a writer and broadcaster. He is the Economics and Data Editor of Sky News and has written for many newspapers and publications, including the New York Times, the Times of London and the New Statesman. His latest book, Material World, was an Economist and Sunday Times Book of the Year and was shortlisted for the 2023 FT Business Book of the Year Award. He has also written two other critically acclaimed and bestselling books and has won numerous awards for his journalism. He was educated at Oxford and Harvard. He lives in London. For Show Notes and More visit: https://www.thegreatsimplification.co... 00:00:00 - Intro 00:02:28 - Inspiration Behind "Material World" 00:03:59 - The Influence of "I, Pencil" Essay 00:07:20 - Realizing the Scale of Resource Exploitation 00:09:29 - The Significance of Sand in Modern Technology 00:12:10 - The Historical Importance of Glass Production 00:14:00 - The 1915 Glass Famine and Rebuilding the Industry 00:18:06 - Sand and Silicon Chips Connection 00:21:30 - Environmental and Economic Issues in Sand Mining 00:22:05 - The Mystery and Importance of Cement and Concrete 00:27:28 - Modern Importance and Uses of Salt 00:33:01 - Potential of Sodium-based Batteries 00:42:46 - Importance of Lithium for Energy Storage 00:46:12 - Critical Role and Challenges of Copper 00:57:09 - Overlooked Challenges in Net Zero Models 01:03:16 - Fragility of Global Supply Chains 01:07:35 - Potential Future Supply Chain Vulnerabilities 01:13:12 - Complexity of Modern Globalization 01:21:10 - Impact of International Conflicts on Supply Chains 01:26:00 - Future Predictions and Final Reflections