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Already been there in the Great Financial Crisis and its aftermath. There is an acute awareness of our economic dependency on global corporations and the risks that global corporate tax reform poses to our current economic model. It's very hard to legislate for increased innovation and entrepreneurship, and so the political system is struggling to come up with alternate sources of growth and job creation.

The pandemic hasn't helped, as its primary economic victims are likely to be smaller independent grocers, pubs, restaurants and hotels etc. rather than the big multinational chains.

Amazon is currently setting up a big distribution centre near me, largely to circumvent Brexit. But it will probably also devastate the smaller retailing sector. With Irish retail prices 38% above the EU average, it's hard to argue that more competition isn't necessary. The trouble is that nobody else has Amazon's scale and on-line market dominance at the moment.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Sep 17th, 2021 at 07:07:24 PM EST
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