THIS WEEK’S MUST READ NEWS FROM CAPX | NEW DIRECTION
27 May 2016
New Direction | The Foundation for European Reform is an international partner of CapX, a new digital service which commissions and aggregates the best news on popular capitalism from around the world.
Local NGOs are the first to respond when a crisis hits. They are the ones digging people out of the rubble days before external agencies are flown in. But only 0.2% of humanitarian funding went directly to local NGOs in 2015. The idea of the all-knowing western aid worker is increasingly out of date. We must commit to putting more of the power and resources in the hands of those that know how to use it.
FinTech’ may sound alien and complicated, but it is in fact deceptively simple. It is just the use of technology to change the way we use money, making things cheaper and more convenient. As other European countires layer on heavy regulation to control alternative finance, there has never been a better time to invest in British FinTech. No wonder 42% of all FinTech investment in Europe is being placed in the UK.
The battle of genetically modified foods is being waged in a mire of confusion and bad science. This week, the Royal Society has published a report that dispels the most damaging myths about GM crops, proving they are safe and environmentally beneficial. The green lobby has succeeded in branding a technology that could alleviate world hunger as unnatural and sinister, akin to science fiction horror stories. Now science is fighting back.
Apocalyptic visions of overseas banks simply shutting up shop in the UK should be dismissed. Nevertheless, the path outside the EU would be one of prolonged uncertainty for the City of London. According to widely accepted research, Brexit would result in the loss of 70,000 jobs and up to 9.5% of gross value added in financial services by 2020. The EU would work to actively undermine the City’s pre-eminence as Europe’s main financial hub.
The Guardian recently found that left-leaning users veer right on regulating Uber and Airbnb. But this does not mean we are seeing a rise in exploitation, or moral double-standards. Uber and Airbnb make travel and accommodation easier, as did the Internet and the telephone - technologies that hardly turned us into ethical monsters. If you’re concerned about human well being you should embrace markets and competition with glee, not guilt.
News & Commentary