Ines Stelk, Steven Bosworth, Dennis J Snower — Technological progress: The other side of the coin

How the trend towards individualism in societies affects economic welfare is debatable, but it is generally agreed that the role of technological progress in spurring individualism is substantial. Exploring the impact of technological progress in a model of individual utility, this column finds that the direct positive effects of technological progress, in the form of innovation and economic growth, may be offset by the indirect negative effects resulting from greater positional competition at the expense of caring activities.

vox.eu
Technological progress: The other side of the coin

Ines Stelk, Steven Bosworth, Dennis J Snower

Deborah Orr — Neoliberalism has spawned a financial elite who hold governments to ransom

Neoliberal ideology insists that states are too big and cumbersome, too centralised and faceless, to be efficient and responsive. I agree. The problem is that the ruthless sentimentalists of neoliberalism like to tell themselves – and anyone else who will listen – that removing the dead hand of state control frees the individual citizen to be entrepreneurial and productive. Instead, it places the financially powerful beyond any state, in an international elite that makes its own rules, and holds governments to ransom. That's what the financial crisis was all about.

The Guardian (UK)
Neoliberalism has spawned a financial elite who hold governments to ransom
Deborah Orr
(h/t Yves Smith at Naked Capitalism)