Funnels are great things. They allow you to pour a liquid, or a heavy gas, into a container that has a narrow neck. Like pouring oil into a bottle. I have been thinking more and more about reverse funnels – smoke stacks that, from a point-source, such as a factory, spew various gasses from a narrow spout out into the open environment; essentially from a concentrated source to a dispersed open vessel.
The same could be thought of in terms of plastics. Factories, which are the equivalent of the narrow-neck bottle, churn out concentrated plastics in the form of products that ultimately find their way as pieces of varying size into every corner of the world. Take this concept further, and we’re talking about the externalities of economic productivity. They are, in other words, the impact on the wider environment (however defined) of producing, distributing and retailing a product or a service.
They, of course, include the greenhouse gas emissions associated with almost all our production processes.
Until recently, emitting the stuff has been entirely “free”, or at no cost to the producer. The consequent impact was not included in the “cost” of the final product. That’s because, well, you just pump the stuff into the air and then it’s gone, right? The logic was that “dilution is the solution to pollution” because the atmosphere (or the oceans for that matter) is so large that spewing some gas into it would not alter the balance. That’s until the emissions were so large that they do alter the balance and we feel the impact.
The intent of the reversal economy is not new but faces the continued challenges of providing a sort of public good
And it does not stop at the atmosphere and the oceans. Our bodies are also ready recipients of various externalities that have been demonstrated to cause life-threatening disease. Allergies, asbestosis, various cancers (including lung), to name but a few, are the direct result of us stuffing our bodies – voluntarily or not – with externalities.
Taking the impact of externalities a little further still, we might think of effects on the workforce (mental health, accidents on the job), and on wider society in terms of opportunities, obligations and equity, for example.
For centuries, even millennia, externalities were ignored by and large, as part of a necessary consequence of production, or even explained away because they were uncomfortable or too expensive.
To simplify but sharpen the point even further, our economies have grown thanks to externalities. We are at a tipping point where we are not only seeing a reversal, but the next big business opportunities and business models are about reversing the process and making money off internalising these externalities.
We have inherited this externalised world, and now our survival hinges on cleaning it up.
We might coin a new term – like the reversal economy, or the internalised economy – to drive home the need and the concept. It’s already happening; carbon removal credits are doing exactly that, as they are essentially a financial reward for taking greenhouse gases out of the atmosphere and locking them away, in an effort to reduce climate change.
This is where the funnel analogy is helpful again.
Current technology uses large fans to extract and concentrate carbon dioxide from the air, and then injects it into rocks, removing the stuff forever. Similarly, startups have been popping up to address the mental health challenges we are familiar with. Same for plastic removal initiatives big and small: microplastic-eating bacteria that are being engineered at universities around the world, and the efforts by the non-profit Ocean Cleanup to tackle the Great Pacific Garbage Patch. Some reversal economy pioneers are using the latest technology. Crispr, the tool that allows for genetic manipulation, is being used by Nobel Prize winner Jennifer Doudna to “enhance the natural ability of plants and soil microbes to both capture and store carbon from the atmosphere”.
The intent of the reversal economy is not new but faces the continued challenges of providing a sort of public good.
Public goods are products, activities or services that have collective rather than individual benefit. While most of the traditional economy has been the opposite: conferring a benefit whether in the form of a profit or a product, to individuals or specific target groups. In the reversal economy, everyone stands to benefit from reducing the load of greenhouse gases in the environment. In the reversal economy, everyone benefits from clean water and oceans. In the reversal economy, everyone benefits from positive mental health.
Alas, it is still more common to see funding going to products and services that provide immediate benefit, pleasure and profit to the customer. Many of the digital economy businesses continue to create new externalities in the form of financial loss or mental health issues. But I am hopeful that the future transition from externalising economies to internalising economies is imminent.
It will not happen without the proper policy inputs, such as requirements to include externalities in product costs. So, next time we purchase, consume, work on, or invest in anything, we must ask ourselves which end of the funnel are you on – the narrow neck that only benefits you and the manufacturer, or the wide rim that has amplified and social benefit.
The choice is ours and the shift towards the reversal economy could be that simple.
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The five pillars of Islam
UAE currency: the story behind the money in your pockets
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
UAE currency: the story behind the money in your pockets
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Results
Stage three:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Tom Dumoulin (NED) Jumbo-Visma, at 14s
4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
5. Joao Almeida (POR) UAE-Team Emirates, at 22s
6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s
General Classification:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s
4. Tom Dumoulin (NED) Jumbo-Visma, at 14s
5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
6. Joao Almeida (POR) UAE-Team Emirates, at 22s
Most match wins on clay
Guillermo Vilas - 659
Manuel Orantes - 501
Thomas Muster - 422
Rafael Nadal - 399 *
Jose Higueras - 378
Eddie Dibbs - 370
Ilie Nastase - 338
Carlos Moya - 337
Ivan Lendl - 329
Andres Gomez - 322
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If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
The five pillars of Islam
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Killing of Qassem Suleimani
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End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Zayed Sustainability Prize
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Rocketman
Director: Dexter Fletcher
Starring: Taron Egerton, Richard Madden, Jamie Bell
Rating: 3 out of 5 stars
The five pillars of Islam
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
SPECS
Toyota land Cruiser 2020 5.7L VXR
Engine: 5.7-litre V8
Transmission: eight-speed automatic
Power: 362hp
Torque: 530Nm
Price: Dh329,000 (base model 4.0L EXR Dh215,900)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
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Killing of Qassem Suleimani
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
What is type-1 diabetes
Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.
It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.
Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.
Being overweight or obese increases the chances of developing the more common type 2 diabetes.
