Globalisation, inequality, feeble productivity growth, earnings stagnation, the falling labour share of national income — the most important features of economic life. It’s no coincidence that ownership and control over the means of production has long been at the root of the conflict between capitalists and socialists. Nor that some of the most important economic battles in American history were fought over antitrust legislation (competition laws) at the turn of the 19th century. Nor that all big economies have developed huge infrastructures governing the legal forms and responsibilities of firms, regulating competition and constraining their behaviour towards both workers and customers. SponsoredYet we rarely join up our thinking, let alone our policy.

Source: The Times April 25, 2022 00:07 UTC