Lasting words

 

„In medieval times alchemy was considered an occupation worthy of the secular and

cleric leaders“, says Gerold Permoser, Chief Investment Officer (CIO) der Erste Asset Management.

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Transmutation Revisited

 

Indeed, Emperor Rudolf II is sometimes referred to as the “alchemist on the imperial throne”. The Emperor’s

laboratory and his collection of curiosities of all sorts represented probably the most renowned Cabinet of Wonder

of the Renaissance and the Baroque, filling several rooms in the Prague castle. The goal of the imperial alchemist

was to turn base metals such as mercury into gold or silver through the act of transmutation. The legendary

philosopher’s stone was supposed to be the means to this end.

​​Research laboratories of big groupsare the modern Cabinets of Wonder​

Nowadays we often feel reminded of the times of alchemists. In the research laboratories of big groups, the

modern Cabinets of Wonder of the powerful, the descendants of those alchemists have re-embarked on their

quest for the philosopher’s stone and transmutation: the idea, this time around, is to turn gases into gold, or at

least, money. A solution to the carbon dioxide problem does not only promise a better future – the spiritual element

of the equation, as it were – but also economic success.

 

Today we know that transmutation is possible, and gold can in fact be produced from mercury by exposing it

to radiation in nuclear reactors. This method is technically feasible, but it is not economically viable due to its

inefficiency. We can see the same risk embedded in some approaches of modern transmutation. A lot of things

work – but the question of their efficiency and sensibility is rarely asked. For example, huge amounts of money are

thrown at the idea of the electric car – not the least at marketing the concept. This fails to address the issue that

electric cars currently solve only a fraction of the carbon dioxide problem and also come with numerous flaws.

 

The history of the alchemist on the imperial throne teaches us that disregarding reality in the long run does not

bring any solutions. Emperor Rudolf II was disempowered by his own family due to his inactivity in the empire,

and his successor Matthias was entrusted with the task of solving the urgent problems of his days.