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Three Things I am Thinking about Today #8

  1. Who knew one could make quite a bit of money selling milk from home? As Farm Fresh prepares for its upcoming IPO, it is good to see businesses that are still anchored on the idea that business can actually help people to improve their lives. There has been a lot of skepticism, of late, in the enthusiasm of capitalism to embrace a more stakeholder-oriented stance, but I suppose it all depends on your intention: to truly embrace togetherness and shared prosperity, or to merely employ such rhetoric to mask baser motives of greed and exploitation. 
  2. It is a common cycle throughout the history of innovation and technological growth: a new technology platform arrives on the scene – it could be petroleum as a source of energy, or electricity as a means to power machinery, or the Internet as a means of sharing information – and those most well-placed to gain from the rapid advancement and growing profitability of such technologies begin to gain outsize advantage and eventual domination: the Rockefeller oil trust, General Electric, or Google and Facebook. Eventually, burgeoning profitability and market share leads to outsize influence and power, and dominant players find themselves increasingly tempted to wield monopolistic power in their favour. And then, the backlash begins. In recent days, a whistle-blower has made her voice heard, and there is growing consensus that dominant tech giants like Facebook and Google will need to be reined in. Competition eventually becomes normalised, until the next cresting of a new technology… 
  3. I believe that when historians look back at the politics of the late 2010s, there will be a huge collective sigh of relief that while Trump was certainly an influential and talented demagogue, his own incompetence and lack of discipline made sure that the damage he could actually inflict on America and the world was relatively limited. Could a more capable wannabe-tyrant have done differently? In my mind, highly likely. We are not yet at the endgame of the current epoch of this collective and corrective backlash against the excesses of capitalism and inequality: for that, we need a 21st century FDR to emerge, so that the inchoate demands for better justice and fairness can cohere into a set of much-needed policy reforms that will shape the world anew.