There’s no evidence that the internet revolution has made most of us better off. So was it all hype, or are the good times still just around the corner?
The public sector is expected to innovate and reform in response to failure. But however badly or frequently they fail, the basic model for private sector firms has stayed unreformed for 300 years.
In 2012’s Petite Poucette, the French philosopher Michel Serres set out a vision of the future that is both optimistic and disturbing at the same time. The digital revolution means knowledge is being freed from power structures like schools, universities, governments and corporations. This changes everything, he says.
Left to their own devices, firms will almost always try to takeover other firms or force them out of business. But every takeover reduces competition and choice, which is supposed to be the whole point of the free market in the first place.
Many British firms are just investment vehicles with nothing inside. Maximising profits alone cannot provide businesses or anyone else with a meaningful purpose.
The French work smarter and have a more productive workforce than Britain. But there’s a sting in the tail: fewer jobs for young and old alike.
They don’t really “own” firms, they provide a minority of the capital and they don’t care much about what happens to them. So why do shareholders call the shots?
Good work from Richard Murphy at Tax Research UK in exposing the real data behind George Osborne’s “personal tax statement”.
Economics happens to real people. Meet Focus E15 — the young London mums at the sharp end of our housing market failure.
Actually, it is. When people try to complicate something very simple, it’s usually because they don’t want to see what’s staring them in the face.