The commanding heights du jour

looking into money's crystal ball...

There are two trends that, in combination, are difficult to understand.

There is the shift from an ‘age of capital’ back to an age of labour.

And there is the shift from a credible government-based order to an information-based order.

Like most composite trends, it’s hard to say these are being set by a hidden or any other sort of hand. But what will they do?

Will they make money cheap or expensive?

Will they worsen or diminish inequality?

Will they complement or contradict one another?

How will they handle the world’s debt?

Will they bring about an ordoliberal golden age?

Or a difficult, confusing period of cascading stagflation?

Whose freedom of movement – capital’s or labour’s – will they curtail?

Whom will they liberate?

And whom will they make the winners? The losers?

All answers are welcome.