The Seductions of Declinism
William Davies: Stagnation Nation, 4 August 2022
“... of investment in technology, R&D, skills and entrepreneurship (all of which offer a reason and a means for businesses to increase wages), and descended instead into passive speculation on unproductive assets, above all housing, but extending to such Ponzi schemes as NFTs and other cryptocurrencies. This tendency can be dated back to the explosion of ... ”