Eras of rapid change come and go. Schumpeter, Kondratiev, Piatier and others, studied waves of fundamental innovations. We are in the middle of the 4th wave at the moment (comprising ICT, electronics, internet, biotechnology, molecular engineering and the applications of quantum mechanics, etc), still with new innovations being developed, some still growing, some already maturing [...]

The pattern of technological progress has been found to be surprisingly consistent. New technology has to clear various hurdles before attracting funds for its commercial development. A successful project that gets fully exploited grows fast, all the time getting detailed improvements and added features. Eventually, progress begins to slow, returns from further R&D diminish and [...]

The economic mainstream has flowed on its capital oriented way with relatively little deviation despite its manifest limitations, errors, omissions and downright falsehoods. And despite the occasional disasters to which it gives rise.
In the middle of last century, J M Keynes corrected some of the more apparent errors of the classical model, but his [...]

As Nobel laureate Paul Krugman pointed out ‘a country is not a business’. So why, he asked, do politicians think it is sensible to ask a successful businessman for advice on running the country? Why, for example, is David Cameron asking Sir Philip Green for his input? His views are clear and predictable, and of [...]

The corporate monster is destroying the world, tearing up its soil to gobble up its precious resources, fouling its air, polluting its water and damaging its climate, while rewarding the few with untold riches, but leaving the masses in poverty. That’s how things work, unless they are prevented. Free-market ideology is having a hard time [...]