While economic observers have long worried about the growing dominance of Big Tech, few have apprehended the sheer scale of the problem. Today's technologies have handed exorbitant market power to dominant players across all sectors, to the detriment of the vast majority of people.
BARCELONA – Since the 1980s, the Dow Jones Industrial Average, adjusted for inflation, has grown at an average rate of about 6.7% per year, reaching new highs of 30,000 in November 2020 and 34,000 in April 2021. But the Dow has not always followed this growth pattern. If one takes the long view – focusing on the evolution of stocks since World War II and not letting sharp short-term fluctuations obfuscate matters – a very different picture emerges.
BARCELONA – Since the 1980s, the Dow Jones Industrial Average, adjusted for inflation, has grown at an average rate of about 6.7% per year, reaching new highs of 30,000 in November 2020 and 34,000 in April 2021. But the Dow has not always followed this growth pattern. If one takes the long view – focusing on the evolution of stocks since World War II and not letting sharp short-term fluctuations obfuscate matters – a very different picture emerges.