Printing the future
[Re: Two technologies that will create jobs and change the world, Tuesday]
If 3D printing truly fulfils its early promise it will be part of a wider economic transformation that goes way beyond the sort of cosy regulated world envisaged by the left-wing Work Foundation. It could potentially replace the manufacturing industry as we know it today, and bring about the greatest socioeconomic transformation since the rural poor moved to the towns in the late eighteenth century. If this happens (and it’s still a very big if) industrial task forces led by Vince Cable, and his whole strategy of picking economic winners, will prove happily irrelevant.
[Re: Why the future of Europe doesn’t lie with the failed EU, yesterday]
Harry Mount is correct that the EU’s basic design is fundamentally flawed. It is undemocratic, unwilling to accept dissent, and is now assuming a scale that is unimaginable to those of us who voted to join the then European Economic Community in 1975. But I don’t agree with Mount’s unquestioning support for nationalism. Yes, the nation state has proven the most useful and effective means of provoking competitive economic development and intellectual progress. But it also has its faults. We mustn’t let justified criticisms of the EU lead us too far in the other direction.
Employment is now at a record high. We should see a strong GDP rebound and QE should end. Further stimulus isn’t needed.
Given extensive QE, can someone tell George Osborne that it isn’t his economic or fiscal policies keeping bond rates low.
The Bank of England now holds 23 per cent of the entire gilt market. And there was some mad talk of writing some of it off.
We need to start being more positive about the UK economy. Unemployment has fallen yet again.