Populism: The "overnight" problem 40 years in the making
- A globalized, interconnected world doesn't necessarily work for everyone... especially on the rural (and hyper-local) levels.
- While many got massively rich from technology and globalized trade it left many feeling locked out.
- Anand focuses on the rise of Trump and the huge popularity of Bernie Sanders to highlight the fact that the majority aren't satisfied with the current state of capitalism.
Everything is cheap and nobody has jobs. Welcome to the future. President of the Federal Reserve Bank of Dallas fills us in on how we got here.
The US economy has spawned a vicious cycle that few people are talking about, but it's one that affects us all. You, right now, are likely caught in that ugly loop. In fact, it's what may one day send you packing from your job. It's called technology-enabled disruption. And the worst part? (There's a worse part!?) You contributed to it in a big way, explains Robert S. Kaplan. Advancements in retail technology gave consumers the power to shop smarter and put pricing pressure on manufacturers. That pressure is "rippling back, through impacts on workers and their wages, and maybe encouraging businesses to increasingly replace workers with technology," says Kaplan. In a nutshell: every time a consumer finds a bargain, a robot gets a job.
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