The Why? Curve

What is the Metaverse? Why are tech firms and big finance houses buying into it with billions of dollars? Will we all have to learn to live and play and bank in virtual worlds? Or is it all hype? And with the current concern about artificial intelligence, is it all just too dangerous? Phil and Roger try to get the answers to all this from Steve Benford - he’s the Dunford Professor of Computer Science at the University of Nottingham and cofounder of the Mixed Reality Laboratory

How much interest you pay on your home loan is determined largely by the unelected representatives in the world’s central banks. This week the Bank of England took its turn in announcing rate hikes in their bid to keep prices under control. They also have a mandate to ensure stability in the banking sector. The way things are right now, you might question whether they’re up to either task. Phil and Roger ask Dr Supriya Kapoor (Assistant Professor in Finance at the Trinity Business School, Trinity College Dublin) whether central banks are pursuing the right approach, whether we have the right people in these jobs, and whether it makes sense to keep the functions of monetary policy (by the banks) and fiscal policy (by the government) separate, particularly at times like these.

The chancellor has told us how he’s going to slice the national cake this year, but there are those who say he has done nothing to push back against the growing gap in British society - that those who have are getting more, and those who don’t are getting less. The wealth gap, one of the worst in Europe, has increased over the last 20 years, and many see the consequent divide in attitude, social values and politics, with a surge in extremist views, growing as well. Are we, then, increasingly, TWO nations? Despite that, Pat Thane, Professor of Contemporary History at King’s College London, and author of the book Divided Kingdom: A History of Britain from 1900 to the Present, tells Phil and Roger we may actually be moving closer now to a post-Brexit consensus on major national questions.

In the 1930’s John Maynard Keynes predicted that, with automation and new ways of working, we’d all be working a 15 hour week. Many of us grew up being told that there would be more time for leisure. Yet, here we are, working as hard as ever. Except those who saw the pandemic as an opportunity to leave the workforce altogether. For many, we might be working harder, but spending more time working from home, without the drudgery of the daily commute. So, are we finding a new, more balanced way of working? How are companies adapting to this shift in behaviour? And are some of the fundamental issues of work, like bad management, ever going to shift. Phil and Roger have a barrage of questions for Clare Kelliher, Professor of Work and Organisation at Cranfield School of Management, Cranfield University, and author of several books on the subject, including ‘New Ways of Organising Work’ and ‘Flexible Working In Organisations’

Hong Kong is re-emerging from almost two years of COVID isolation, but can it resume its place an Asia’s leading financial hub? Or has Beijing’s imposition of strict security laws made it little different from China’s other economic dynamos like Shanghai or Shenzhen? It’s taken a massive hit over the last year- GDP down by 3.5% - and suffered a brain-drain as some of its brightest and best have left for freer environments in the UK or Taiwan. Dr Yan-ho Lai of the Dickson Poon School of Law at King’s College London and a co-conveyor of the Hong Kong Studies Association gives Phil and Roger his view of the prospects of his home city 25 years after it was handed back to China.

The earthquakes that rocked southern Turkey and northern Syria seemed to come from nowhere - an instant of catastrophic destruction that killed around 50,000 people, demolished hundreds of thousands of homes and left a legacy of loss and poverty that will last for generations.But could it have been avoided? Could we, at least, have known it was coming and been prepared? Or do we just have to shrug and accept the risks of living in quake-prone areas?Mark Allen, Professor of Earth Sciences at the University of Durham, talks to Phil and Roger about the challenges of earthquake forecasting and prediction, and the chances of science ever being able to provide accurate warnings in good time of what our planet may be about to do to us.

Is it a good idea for big areas of Britain to be returned to nature? The idea of re-wilding is spreading fast - that allowing some land to go back to its wild state is good for the environment, and works economically, too, in a country that has lost so much of its biodiversity and woodland. The case seems to be gaining support in government. But what about the need for food-production and housing? And do we really want to return to some kind of primeval Britain with wolves and lynxes roaming huge forests? Alastair Driver is director of ReWilding Britain, former Head of Conservation for the Environment Agency - he leads Phil and Roger through the case for letting and helping nature rebuild our countryside.

Is it over?It’s just three years since the global pandemic began to take hold, and now we’re back to a sort-of normal - few wear masks any more, and most have had vaccines and boosters. But people are still being infected and some are dying, while a few have long-term conditions that mean they have to keep isolated. And then there is long COVID, affecting millions with life-changing debilitation. So what’s the current status of this disease, and is it with us forever? Professor Paul Hunter of the University of East Anglia, one of the leading medical voices during the height of the pandemic, tells Phil and Roger where we now are with COVID-19 

Spring is coming to Ukraine along with the prospect of new offensives in the war that began almost a year ago. Kyiv is getting new weapons from the West, and Russia has hundreds of thousands of freshly-trained mobilised reservists as well as a new commander. But will the stalemate end? Will Ukraine be able to push Russia back nearer to its borders, or will Russia regain the initiative and march on Kyiv once more? Will Ukraine’s long night of horror and death come to an end anytime soon? Not very likely, Stefan Wolff, professor of International Security at the University of Birmingham, tells Phil and Roger - this, he says, is a war without an obvious conclusion.The Why Curve is brought to you with the help of Wigmore Associates Wealth Management, providing portfolio management services on both a discretionary and advisory basis, together with pension, tax planning and inheritance tax advice to Individuals, Trusts, Pension Schemes, Family Offices, and Charities. Visit https://www.wigmore-associates.co.uk/