Benedict Evans: “Sometimes the centre of gravity in tech is very clear, but as we enter 2022 there are lots of areas where trillion dollar questions are wide open. These are the questions I wonder about today, from crypto to cars to fast fashion – there are others.”
Julian Baggini on David Hume: “The arguments put forward in the Essays are usually worth our attention, even when, at first, Hume’s point of view seems dated. Though in many ways a political radical, his skepticism towards democracy remains thought-provoking. His fear that in politics, lies might prove more popular than truths, remains all too relevant—as Hume put it, “Nothing indeed can be a stronger presumption of falsehood than the approbation of the multitude.” In his “Idea of a Perfect Commonwealth,” he sought to find a balance between technocracy and mob rule, endorsing the view that “The people … would want wisdom, without the senate: The senate, without the people, would want honesty.””
Vivek Kaul on how to explain the Indian budget to a teenager. “So, the central government had plans of spending ₹34.8 trillion this year. Of this, ₹15.5 trillion came through taxes. It also earned through dividends and profits shared by companies it owns and through the RBI. Over and above this, it had planned to earn ₹2.1 trillion through disinvestment. The total earnings of the government were expected to be at ₹19.8 trillion, meaning a fiscal deficit of ₹15 trillion. In order to be able to make up for this difference, the government borrowed ₹9.7 trillion. Also, some money came from the small savings schemes.”
