An interesting interview with Professor Mark Blyth on the “crisis of globalisation”. His view on commodification of our personal data seems a bit unsophisticated though: how would we actually be able to put a price on the use of our data, and wouldn’t this still leave all the power with the big companies to buy them off from us? But I agree that there is a general problem in governance.
[…] get people to individually license the use of their data to these firms. We auction off the digital spectrum to telephone companies. Why don’t we auction off our personal data? Basically give the data on a ten-year lease that’s revocable.
Another interesting point he made is about global international labour and its effect on wage inequality:
[…] labour’s ability to command its share of the surplus declines to zero. The strike becomes a meaningless weapon. Strikes decline to function—like to zero—in the western world. And you get prolonged wage stagnation, because essentially all the surplus goes to capital. There’s no reason for it not to. So labour’s ability to push up wages goes to zero.