France's new economic policy Bertrand Guay/Getty Images

A New Course for Economic Liberalism

Neoliberal economics has reached a breaking point. As a result, the traditional left-right political divide is being replaced by a split between those seeking forms of growth that are less inclined toward extreme concentration of wealth and opportunity and those seeking to end such concentration by closing open markets and societies.

GENEVA – Since the Agrarian Revolution, technological progress has always fueled opposing forces of diffusion and concentration. Diffusion occurs as old powers and privileges corrode; concentration occurs as the power and reach of those who control new capabilities expands. The so-called Fourth Industrial Revolution will be no exception in this regard.

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