Considering Globalization’s Dark Side

Lisa's leaks - 'Madness in the Magnolias'

In the Silicon Valley circles where I have spent much of the past four years, the word “innovation” is often thrown around as if it were a panacea to all of the world’s problems. Innovation, whether technological or otherwise, has certainly propelled the global economy ever forward over the past few centuries, but this movement has not always been so clearly one-directional. Perhaps the term “creative destruction,” popularized by the economist Joseph Schumpeter, ought to accompany “innovation” in such discussions more frequently. This term describes the dislocation associated with technological advancement. For instance, during the early Industrial Revolution the dislocated ones were the weavers, displaced by the first power looms; today they are the taxi drivers, beat out by ride-hailing apps like. These innovations, among so many others, make economies far more efficient as a whole, but they also temporarily disrupt certain industry sectors and the livelihoods of those who…

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