Saturday, 8 October 2016

the way ahead

As the brilliant Kottke informs, Barack Obama has written a thoughtful letter to his successor on crucial areas of “unfinished business in economic policy.”
Confronted by questions of America’s place in the world buffeted on all sides by anxieties and insecurities over globalisation and the quickening pace of change, which makes many yearn nostalgically for a time and a place that never existed (or at least we’d never want to return to, given all the trade-offs), the incumbent was prompted to recognise that many of these fears were waylaid—not rooted in prosperity and security alone, but by way of preamble was rather hijacked by division and disengagement, looking back (among others) to the Know Nothing Party of the 1850s. Obama admonishes his successor that America’s stance can still be a force of good, globally, and America must continue to craft and enforce laws and regulations that will decrease the income disparity between the richest and the poorest, restore innovation and mobility of opportunity and build a stronger foundation that includes a sufficient infrastructure and legal framework that prevents loopholes and the incentivising of profits at the expense of the exploiting the work-force or environment. Read the entire letter on The Economist at the link up top.