Though my blog was originally intended to range broadly over the all the fields of business, and may still do so, I find that at present the most interesting and significant developments are taking place in Digital Finance.
So, for the moment, that will be the focus.
Let me begin by saying that Digital Finance is having huge impact, but there are some some worrying factors to consider:
– Between 2013 and 2016, $62 billion had been invested from around the globe just in FinTech. Clearly, many investors are betting on this sector, and on individual initiatives within it. They foresee an opportunity to make money by helping the sector gain “efficiencies”
– However, every “efficiency” means a job lost for one or more humans
– That means lower capacity to spend money by (ex-)employees, alongside the well-known chilling effect that lower spending by each group has on other groups, even if the latter have money to spend.
And it was only a year earlier (2015) that Oxfam had reported the number of people who had as much wealth as the bottom half of the world’s population was *85* !!!
Whether that sort of consolidation continues is partly a matter of politics, and partly a matter of the choices made by these few individuals.
While we work for the best policies to be put in place and to be implemented, let us continue to admire the amazing inventiveness of everyone involved in the world of digital finance.