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How to Overcome the Triple Productivity Crisis? A Proposal to Realize Sustainable & Inclusive Growth
Our current economic growth is neither inclusive nor is it sustainable. One of the key drivers for this development is what we call the triple productivity crisis. If we want to get on an inclusive and sustainable growth path, we need to address the three main drivers of this crisis and rethink our approach to productivity and growth strategies. A viewpoint submitted to the Future Markets Consultation by the Bertelsmann Stiftung, a German think tank.
COVID-19, Technology, and Surveillance Capitalism
“During the COVID-19 pandemic, shopping, entertainment, and communication have moved online, and tech firms’ share prices have soared. In the latest installment of CoronaNomics, PS contributor J. Bradford DeLong and NYU professor Scott Galloway join The Independent’s Ben Chu and The Telegraph’s Lizzy Burden to discuss whether we are entering an era of higher productivity, or one of surveillance capitalism, monopoly power, and spiraling inequality.”
Digital Corporate Power Concentrations – How Should Europe Respond?
Every episode of the online dialogues between visionary economists, organized as part of the Consultation, starts off with a personal reflection by one of the members of the Consultation’s Think Tank of Young Economists. This is the reflection of Sam de Muijnck at the start of the dialogue ‘The New Corporate Power Concentrations‘ (9 November).
‘Don’t Be Evil’ Author Rana Foroohar in Monday’s Dialogue
“Google was founded with the corporate motto: ‘Don’t be evil.’ Now that phrase serves as the title of a new book that explores how Big Tech has strayed from its original path and exploited its users in the process. Rana Foroohar, author of Don’t Be Evil: How Big Tech Betrayed Its Founding Principles – and All of Us, joined CBSN to discuss the industry’s powerful impact on society.” This upcoming Monday Foroohar is one of the guests in next online dialogue of the Future Markets Consultation, this time on the topic of the new corporate power concentrations.
Algorithms Are Making Economic Inequality Worse
“The risks of algorithmic discrimination and bias have received much attention and scrutiny, and rightly so. Yet there is another more insidious side-effect of our increasingly AI-powered society — the systematic inequality created by the changing nature of work itself. We fear a future where robots take our jobs, but what happens when a significant portion of the workforce ends up in algorithmically managed jobs with little future and few possibilities for advancement?”
Capitalists and Socialists of the World, Unite!
“Although it can be politically expedient to draw a thick line between capitalist decentralization and socialist central planning, the truth is that these two systems have converged on many occasions. Moreover, each was conceived for the same purpose, and elements of both could be realized in today’s digital economy.”