THIS WEEK’S MUST READ NEWS FROM CAPX | NEW DIRECTION
11 March 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.
To combat Donald Trump's vulgarism, Marco Rubio should have maintained his gravitas and presented himself as a serious candidate. Instead, his judgment let him down in a spectacular manner and he got down in the gutter and rolled around, in a poor attempt to 'out-Trump' Trump. In Rubio's misjudged approach to tackling his rival, he may have unintentionally revealed that he is not the candidate his supporters thought he was.
In developing countries, SMEs make up 45% of total employment and account for 4 out of 5 new jobs. Yet these companies which drive the engine of the global economy find it desperately hard to access the finance needed to keep growing. Now five charities have launched a new investment platform to bridge the finance gap, and soon the poverty-busting power of good enterprise will start getting the headlines it deserves.
For the first time in Spain’s democratic history, a candidate for Prime Minister failed to win a confidence vote. Spain has now gone three months without a government. A quick look at the electoral maths shows there is no possible combination of parties prepared to work together that can add up to a majority. With the anti-establishment Podemos party holding most of the cards, there is no end in sight for this mind-bending stalemate.
Poverty in the US is set to increase, and not as a result of growing incomes at the top but something much more basic: a crackdown on family planning services. This is increasing the birth rates of the poorest women (60% of births to young unmarried women in the US result from unplanned pregnancies) and shows the ability for women to control their own fertility is just as important as a welfare state in eliminating poverty.
Capitalism is often charged with the exclusive and increasingly concentrated ownership of the means of production. But the means of production are spreading among people more than ever. It seems to be that two concurrent forces, both triggered by market economy, are leading to its own collapse: the pursuit of boosting productivity and lower prices; and the growing interconnection of people. Will it be that where socialism has failed, technology can succeed?
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