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Taxing gatekeepers~II

Unlike conventional advertising, digital advertising increases impact by individualising ads while also reducing businesses’ advertising costs. Nobel Laureates Acemoglu and Johnson are not the first to suggest a tax on revenues from digital ads.

Taxing gatekeepers~I

By 2016-17, Facebook had designed a business model that aimed at maximising the ‘user engagement’, that is how much time users spent on their platform, and started collecting data on what they liked and shared.

Enjoy the dream, for the nightmare will follow

The Kennedy-era guru on capitalism, John Kenneth Galbraith, presciently proclaimed in the “New Industrial State” (1967) that “the imperatives of technology and organization, not the images of ideology, are what determine the shape of economic society”.