Since “software eats the world,” distinguishing between a digital economy and a non-digital economy is no longer very useful. What characterises Big Tech by now is less their technological prowess, but rather their mastery of business and regulation.
New growth sectors, higher wages and a comprehensive social safety net are the three themes we should focus on to build back better after the pandemic. Taken together, the aim is to transform our economy, triggering higher growth rates, sharing the prosperity that derives from it equitably, and ensuring no one is left behind.
Budget 2021 needs to needs to ensure the short-term survival of the economy, and more importantly, kickstart the transformation to an economy that fixes the major flaws exposed by the pandemic.
The Covid-19 pandemic has put all the structural shortcomings in our economy in sharp relief. At the same time, it has magnified and accelerated underlying trends (like digitalisation and de-globalisation) that render our economy’s structure increasingly unfit for purpose. The pandemic therefore marks the time for a great reset.
Now that the initial shock of the Covid-19 economic crisis is wearing off, thoughts are turning towards “building back better” the economy for the long term. It is a unique opportunity to assess our current economic model. In particular, we should re-evaluate the position of the government in the economy, and leverage all its strengths to build a more vibrant, resilient, sustainable and fair economy.
Technological advances are determined by regulation, existing institutions and ultimately our values. Now more than ever we must actively shape our technology to work for us rather than resignedly accepting it.
APEC members have an opportunity to set out an innovative agenda that will make the organisation uniquely relevant for years to come.
Two news stories came up this week that, when put together, offer a stark view of the current state of the technology industry and in particular its stance towards privacy.
The definition of an exotic holiday differs for everyone, but in the end familiar comforts tend to win out anyway.