Infuriating! An high-priest of the church of the economists does his job of exonerating politics from ugly social change, with "IT" as the sacrificial goat. T

Infuriating! An high-priest of the church of the economists does his job of exonerating politics from ugly social change, with "IT" as the sacrificial goat. The obvious counterpunch "what about politics" gets this answer doubling down slimy-leech style: (Quote) A Final Note The IT revolution has brought about improvements in living standards and its great technical achievements enjoy a very high level of consumer and political support. However, these sources of social benefits are also the cause of social losses and rising inequality that threatens the foudation of our democrastic socieity. Th uniqueness of this study is that it focuses on the effect of technological change on efficiency and distribution and although we show modern developments in IT enabled higher barriers to entry, rising market concentration and increasing monopoly power of firms, we have avoided a policy evaluation. Yet, although these developments enjoy substantial public popularity it is only a matter of time before we shall need to debate the appropriate public policy to response to the social changes we face. To illustrate the need for some urgency consider the exmple of social networks. These are, in fact, privately owned public utilities. Subversive and terrorist groups have used the internet and social networks for coordinating their activities and these social networks have been a key tool for spreading rumors and conspiracy theories or, more generally, for proliferation of "fake news." These are national security problems and are challenges to the proper functioning of an informative press in a Democracy. The question we face is who should make the decisions on how to respond to these problems? Today it is entirely up to the private firms who own these channels to formulate good public policy decisions. This is not likely to remain a satisfactory solution. (End of quote) What about salaries and negotiation powers, financialisation and asset-prices inflation?