Saving Globalization and Technology from Themselves

Today the economic inequality is, to a large extent, a result of how we’ve managed two of the biggest drivers of economic progress: globalization and technology. The disruption caused by these forces was tolerable—even welcome—as long as we stayed true to the premise that most would benefit, many could succeed on their own, and a social safety net would help those displaced or left behind. But for many, this premise is no longer credible.The lack of political stability and consensus makes it hard to develop policies to help struggling individuals and communities, while feeble macroeconomic growth in the US and Europe has sharpened frustrations and constrained governments’ ability to intervene. As a result, there’s less being done to narrow the growing divide between the winners and losers of global integration and technological progress—and more anger at the status quo.