It’s long been a personal bugbear that many of those who govern us are highly-paid economists. The mantras they live by — and by which we are obliged to live — derive from unproven theories. This article from Paco Jariego suggests that all that may be about to change, with the assistance of AI….
Capitalism and neoliberalism have been severely questioned lately. The rise of inequality in many countries (even though globally may be balancing due to China’s ascent) is a source of social and political tension. And productivity stagnation also raises doubts about the whole economic system. COVID-19 pandemic has only exacerbated the doubts and the debate, and not surprisingly a lot of new and not so new but marginal ideas are back on the scene. For example, the opportunity and potential benefits of a universal basic income.
Not surprisingly, in countries like my own, Spain, where there is a widespread lack of knowledge about technical and economic issues among the political class (not necessarily some people behind them who nobody hears) , and with governments controlled by populist parties and political value propositions, the debate is clumsy, to say the least.
Therefore it is refreshing and encouraging to see that there are…
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