What we're watching is a massive malfunctioning of the global economy. At the root of the problem: dumb growth. Dumb growth is, in many ways, bogus — rather than reflecting enduring wealth creation, it largely reflects the transfer of wealth: from the poor to the rich, the young to the old, tomorrow to today, and human beings to corporate "people." Dumb growth is growth without prosperity. And it's far from an Egyptian problem.
Today, the world's gaze is fixed on the pyroclastic flow: never-ending demonstrations, protests, people self-organizing in a state that has shut down the internet, mobile networks, and public transport. But the fault lines underneath this explosion were laid down decades ago — and they might just run across the globe.
The lesson: You can't steal the future forever — and, in a hyperconnected world, you probably can't steal as much of it for as long.
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