Competition and Inequalities

European Straits #44

Dear all,

The inequality gap keeps on widening, for reasons that I once reviewed in an issue of The Family Papers. But political and business leaders are still coming up short when it comes to narrowing that gap.

For some, universal basic income would be the only way to make our economy more sustainable and inclusive (I don’t think so). For others, especially in Europe, economic inequalities are more of a pretext that they can use to demonstrate that technology is the work of the devil.

It has led to a situation in which voters voice their anger in the face of inequalities and politicians respond with promises that they'll impose tougher regulations on tech companies. This has taken form lately with Margrethe Vestager, the European commissioner in charge of antitrust, becoming a superstar in anti-tech European circles—all while rising inequalities are being used in those same circles as an argument to rally support and attack the tech companies bringing about radical innovation.

Some peop…