Bill gates

In defence of capitalism – ‘the greatest engine of human progress ever invented’

For all its faults and foibles, its busts and bailouts, modern market capitalism demonstrates a remarkably bullish resilience. We don’t always love it. We might not even trust it. But, like a cranky old spouse, we doggedly stick with it. It’s not hard to guess why. Look around, and people today in the main are better off. More importantly, the alternatives seem doubtful. As Bill Gates once put it: ‘Anyone who wants to move to North Korea is welcome.’ Even so, there’s a nervousness afoot in the epicentres of free enterprise. Inequality is growing, executive pay is spiralling, high street favourites are disappearing, employment terms are worsening. Forget levelling up;

Can Melinda still keep Bill Gates in check?

‘We are seeing very substantial inflation,’ the great investor Warren Buffett told shareholders in his master company Berkshire Hathaway at their online annual meeting last weekend. He was talking chiefly about the housebuilding businesses in his port-folio, hit by rising material costs in what he called a ‘red hot’ economic recovery. But his remarks align him on a broader front with jittery bond investors and big-name economists, such as Larry Summers of Harvard, who have fuelled the US ‘inflation scare’. And if it’s coming over there — pessimists whisper — surely it’s coming over here? Maybe, but let’s keep this in perspective. Headline US inflation is 2.3 per cent but

The future will not follow any of the already imagined Hollywood movie scripts

We often hear that what we are going through is a real life case of what we used to see in Hollywood dystopias. So what kind of movie are we now watching? When I got the message from many US friends that gun stores sold out their stock even faster than pharmacies, I tried to imagine the reasoning of the buyers: they probably imagined themselves as a group of people safely isolated in their well-stocked house and defending it with guns against a hungry infected mob, like the movies about the attack of the living dead. (One can also imagine a less chaotic version of this scenario: elites will survive in their