What we have now is neither capitalism not communism, it is corporatism, a system under which the agencies of state and the engines of commerce are barely distinguishable, so similar is their behaviour. Look at the Silicon Valley unicorns and the way their growth is funded by an ever increasing burden of debt.

Tesla is a cash incinerator, as is Uber, both lose incredible amounts of money; neither Facebook nor Google pay dividends to investors though both ought to be able to. In the case of Google their justification for this is particularly bizarre, they claim they never set out to be a conventional company and in their mission statement include a list of aims that make them look more like a World Domination Club for megalomaniacal nerds. But what they do is not capitalism any more than the current system of government in China is communism.

Look more closely however and you will see similarities between the corporate governance of Google and parent Alphabet and the political governance of China. For example Google fires executives for questioning company policy, China jails government officials for questioning government policy. That is the most obvious and broad reaching example, keep looking and there are many more.

But I cannot see how technology won anything, technological development driven by corporate greed and political paranoia is taking the developed world towards a dystopian future.

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Opted for comfortable retirement before I was fifty due to health problems and burn out. Now spend my time writing and goofing around. Home: northern England..

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