It’s short-term capitalism.
Capitalism, together with industrialism and technology, has given pencils, books and air conditioning. It got us through COVID with record-low harm (the Spanish flu killed 50 million people).
It continues to gift us new innovations that we rely on every day.
Short-term capitalism, however, tries hard to create lock-in, inflate prices, reduce competition, and innovation. It treats humans as a cog and seeks to maximise profits without creating value.
Capitalism is an extraordinary engine. Like any vehicle, we need guardrails (policies to prevent monopolies), a diagnostic system (to call out the bad actors), and effective steering (policies) to guide it in the right direction.
