3 Takeaways Tom Friedman: On the World Getting Flatter and More Fragile, and Elephants Flying (#26)
Feb 2, 2021
Tom Friedman, a Pulitzer Prize-winning columnist for The New York Times and author of The World Is Flat, shares his insights on a world increasingly interconnected yet more fragile. He discusses how removing regulatory buffers can expose global systems to shocks and pandemics. Friedman emphasizes the lasting changes brought by COVID, predicting accelerated digitization in work and education. He also reflects on the state of U.S. politics and the necessity of a healthy Republican Party for democracy's survival.
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Flatter Yet More Fragile World
- The world has become much flatter and more connected, accelerating since The World Is Flat was written.
- Greater connectivity has removed buffers, making systems flatter but far more fragile.
Bailouts Inflate Giants And Zombies
- Repeated government bailouts have prevented recessions from clearing weak firms and allowed giant tech firms to dominate.
- This creates zombie companies that suck talent and choke startup formation.
Invest Stimulus In Infrastructure
- Protect the vulnerable but invest stimulus in infrastructure, not only transfer payments.
- Avoid "socialism for rich people and capitalism for poor people" that concentrates gains among asset owners.
