Dani Rodrik dubs “the inescapable trilemma of the world economy”.
In a globalised world, a country can have economic integration, the nation-state or democratic politics, but not all three fully.
—The Economist, in ‘The tension between globalisation and democracy’
It can choose integration and the nation-state but give up democratic control to technocratic, supranational institutions. It can choose integration and democracy, but give up the nation-state and disappear into supranational government. Or it can choose the nation-state and democracy by embracing impoverished autarky.
At the root of this is American obsession with self-reliance, which makes it more acceptable to applaud an individual for working himself to death than to argue that an individual working himself to death is evidence of a flawed economic system.
— Jia Tolentino in the New Yorker
… automation and the gig economy are combining to create a glut of low-paid workers without bargaining power (in Britain, such workers have been dubbed the “precariat”).
The Economist: A jobs guarantee is a flawed idea
The thought process that went into building these applications, Facebook being the first of them, … was all about: ‘How do we consume as much of your time and conscious attention as possible?‘
Sean Parker, ex President at Facebook
Facebook, the almost-monopolist in the attention economy.
Continue reading Attention monopolies
WHEN Narendra Modi became prime minister of India in 2014, opinion was divided as to whether he was a Hindu zealot disguised as an economic reformer, or the other way round. The past three years appear to have settled the matter.
India’s prime minister is not as much of a reformer as he seems, August 5, 2017 at 11:33PM
It couldn’t have been more ambiguous 🙂
Some countries build benign, efficient institutions that foster economic growth;
others build predatory ones that retard it.
How to fix failed states, January 12, 2017 at 02:53AM
Continue reading Institutions & Development