Showing results by author "Rana Foroohar" in All Categories

An award-winning Financial Times columnist exposes the threat that Big Tech poses to our democracies, our economies and ourselves. Today Google and Facebook receive 90 percent of the world's news ad spending. Amazon takes half of all ecommerce in the US. Google and Apple operating systems run on all but 1 percent of cell phones globally. And 80 percent of corporate wealth is now held by 10 percent of companies - not the GEs and Toyotas of this world but the digital titans. How did we get here? How did the tech industry get to dominate our world so completely?

In looking at the forces that shaped the 2016 presidential election, one thing is clear: Much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.

A sweeping case that, in a world of trade disputes, higher tariffs, and broader geopolitical uncertainty, a new age of economic localization will put an end to the last half century of globalization—by one of the preeminent economic journalists writing today.