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Ian Bremmer QUOTES

1 " In the introduction, I wrote that COVID had started a war, and nobody won. Let me amend that. Technology won, specifically, the makers of disruptive new technologies and all those who benefit from them. Before the pandemic, American politicians were shaking their fists at the country’s leading tech companies. Republicans insisted that new media was as hopelessly biased against them as traditional media, and they demanded action. Democrats warned that tech giants like Amazon, Facebook, Apple, Alphabet, and Netflix had amassed too much market (and therefore political) power, that citizens had lost control of how these companies use the data they generate, and that the companies should therefore be broken into smaller, less dangerous pieces. European governments led a so-called techlash against the American tech powerhouses, which they accused of violating their customers’ privacy.

COVID didn’t put an end to any of these criticisms, but it reminded policymakers and citizens alike just how indispensable digital technologies have become. Companies survived the pandemic only by allowing wired workers to log in from home. Consumers avoided possible infection by shopping online. Specially made drones helped deliver lifesaving medicine in rich and poor countries alike. Advances in telemedicine helped scientists and doctors understand and fight the virus. Artificial intelligence helped hospitals predict how many beds and ventilators they would need at any one time. A spike in Google searches using phrases that included specific symptoms helped health officials detect outbreaks in places where doctors and hospitals are few and far between. AI played a crucial role in vaccine development by absorbing all available medical literature to identify links between the genetic properties of the virus and the chemical composition and effects of existing drugs. "

Ian Bremmer , The Power of Crisis: How Three Threats – and Our Response – Will Change the World

19 " Second, there is the concept of "creative destruction." Economist Joseph Schumpeter coined this phrase in his 1942 book, "Capitalism, Socialism, and Democracy," to describe a process by which dying ideas and materials fertilize new ones, endowing capitalism with a self-regenerating dynamism. As industries become obsolete and die the workers, assets, and ideas that once sustained them are freed to recombine in new forms to produce goods, services, and ideas that meet the evolving wants and needs of consumers. This process sustains an ever-expanding economic ecosystem. It's not the product of political whim. It's as organic as human evolution.

Those who administer state capitalism fear creative destruction—for the same reason they fear all other forms of destruction: They can't control it. Creative destruction ensures that industries that produce things that no one wants will eventually collapse. That means lost jobs and lost wages, the kind of problem that can drive desperate people into the streets to challenge authority. In a state-capitalist society, lost jobs can be pinned directly on state officials. That's why the ultimate aim of Chinese foreign policy is to form commercial relationships abroad that can help fuel the creation of millions of jobs back home. That's why Indian officials forgive billions in debt held by farmers on the even of an election and raise salaries for huge numbers of government employees. That's why Prime Minister Putin travels to shuttered factories with television cameras in tow and orders them reopened. Of course, workers in a free-market system blame politicians for lost jobs and wages all the time. That's why candidates Barack Obama and Hillary Clinton tried to outpopulist one another in the hard-hit states of Pennsylvania and Ohio during the 2008 presidential campaign. But when the government owns the company that owns the factory, its responsibility for works is both more direct and more obvious. Political officials don't want responsibility for destruction, creative or otherwise. Inevitable economic volatility will eventually give state capitalism ample incentive to shed responsibilities that become too costly. "

Ian Bremmer , The End of the Free Market: Who Wins the War Between States and Corporations?