Today's record-breaking stock-market valuations are largely a reflection of genuine profit-making by a handful of firms that have benefited from new technologies. But those who are currently high on their stock portfolios should know that what's good for business is not always good for the market economy.
shows how network effects and economies of scale are benefiting dominant firms at the expense of everyone else.
The United Kingdom’s vote in a referendum on June 23, 2016,to leave the European Union delivered a sharp populist shock to the political establishment there and throughout the West. Five years on, the consequences of that decision, for both the UK and EU, are coming more sharply into focus.