The late 1970’s marked a break in the post-war compact between labor and capital , the tacit arrangement following World War II where businesses compromised with labor unions in exchange for stability and economic growth. In 1980, we saw the overwhelmingly popular elections of Ronald Reagan in the US and Margaret Thatcher in the UK. At home, Paul... See more

The word productivity might seem benign, but its roots excavate deep into the soil of capitalism and industrialisation. Think of Adam Smith in The Wealth of Nations , who first distinguished between “productive” and “unproductive” labour; measuring man by the output of his loins or mills. Over time, productivity became the hallowed ratio of output... See more

a) the Trump administration’s domestic economic policies were and still are a levered bet on the power of capitalism to revitalize American manufacturing and enable American AI technology, which contributed to the market movements I described above,

b) its foreign policy has scared and turned off some foreign investors as fears of sanctions and... See more