Economy – John Vincent

Young People in Britain

You know, I find this argument so utterly tedious. Economics can be boiled down to old people verses young people. Polarising policy debates and setting one generation against another.

The UK Reform Party are pushing a commitment to the triple lock on state pensions. Not because they believe British pensioners deserve a good deal. No, it’s populist bandwagon to lock in the vote of one generation. Knowing that there’s a higher likelihood of older people voting for them than younger people [According to opinion polls].

It’s true that there’s a madness that has overtaken the British mentality. However, it’s not new. The value of land and property far exceeds its utility. The marketplace has been one of ever forcing a finite commodity to a higher price. The owners and inheritors of land and property have gained whilst its has become harder for younger people to get a foothold.

There have been different times. I remember my father talking about the inter-war period. It was of his father’s time. Practically farmland could not be given away. Estates were broken up. Labour was short. Taboos were challenged. The dynamic of marketplace for changed.

However, in the post-war period, the last 70-years, the cost of a modest dwelling, as a ratio of average earnings, has rocketed. Ownership of land and property has become concentrated.

British humour addressed the situation in a famous TV sitcom. As said by the character Del boy over breakfast – this time next year, we’ll be millionaires. Only Fools and Horses captured the aspiration. Only that Del boy though it was second-hand cars that would lead to riches. Now, Office for National Statistics (ONS) data shows that roughly 27% of people aged over 65, in Britain, live in households with a total wealth of exceeding one million.

So, what do we conclude? That this pot of wealth has been taken from young people in a transfer from one generation to another. No, that would be playing a sectarian political card worthy of an unprincipled populist. A foolish strategy too.

Deep within British culture there’s an attachment to assets. This particularly goes for commodities that are restricted in supply. Remember Del boy got his wish in the end. Antiques saving the day. Now, amongst most popular TV shows is the Antiques roadshow.

Maybe it’s a latent mistrust of bankers. The shady image of people who hoard money for the sake of hoarding money. In Britain, holding land and property are seen to be a stable assurance of long-term security. I’ve heard it said about land many times – they don’t make it anymore.

The tragic element here is not that young people finding it harder to become just like their parents. To harbour the same attitudes towards land and property. It’s more a question of society undervaluing their contribution to prosperity. Now, and in the future.

It’s pure idiocy to set one generation against another. It’s a mean political trick. What does need to change are the rungs on the ladder, especially at the early stages of life’s journey.

For example, the law in respect of student loans is dire, unjust and unsustainable. Making young people pay a higher marginal rate of tax, when early in their working lives is abysmal. The government penny pinching of education funding and thinning out of courses is short-sighted in the extreme. Apprenticeships must be substantial not hollowed out routes to poor rewards. The world of work [and leisure] is changing more rapidly than it ever has in the past. It’s imperative that society equips young people with the tools needed to navigate a complex and dynamic world. It’s not generous to make a priority of all aspects of education and training. It’s absolutely essential.

Spring Reflections: Communication

The season is one of mild rain and occasional storms. Seeds that have been lying dormant now get their chance to germinate. To enter the struggle for life as they compete with their surroundings. Leaves emerge, they twist and turn to channel the energy of the Sun. It’s Spring. A time for new beginnings. Longer days. Shorter nights.

UK Government Ministers are often their own worse enemies. These are smart people. Yes, I say that with no sense of irony. If they have fought their way up the greasy pole of a political career, they are not the numskulls that it’s soothing to think that they are. Well, there are naturally exceptions. God only knows why Liz Truss became Prime Minister of this great country.

Amongst the skills that are mandatory in the role of Minister, communications is surely one of them, if not the most important. Because if a Minister can’t communicate what they are doing the chances are that they will not be in a job for long. The cacophony of noise that pervades the everyday media will distort all but the clearest messages.

Let’s say there’s a 5-minute slot available on the national media to address a matter of public concern. There’s a massive pile of matters of public concern. It’s wise to stick to the ones that the individual has a modicum of knowledge about or at least has recently been briefed.

My instinct would be to us a tried and tested formula for public communications. It goes like this – tell them what you are going to say, tell them, and then tell them what you have told them. Doing this focused on one key point. Not wandering off onto tangential subjects and getting sidetracked. I know this is easier said than done. An interviewer, worth their salt, will want to extract as much new information as possible. They will be driven by the common journalist’s creed. The instinct that the greatest accolade is to get a “scoop.”

What happens, if this morning is anything to go by, is a jumble of slogans come out in an almost involuntary way. The speed of speaking increases as the clock ticks away the precious minutes. Then phases, probably implanted by civil servants, pops out of the conversation. Jargon terms like, implied wholesale element, third party intermediaries, or qualifying financially disadvantaged customers. These will mystify the listener unless they have already read chapter and verse of the subject the Minister is talking about.

As the interview progresses then Ministers become parodies of themselves. I’m sure they walk away from their media interviews with the voices inside their heads saying, I should have stuck to the script. Why didn’t I – keep it simple.

There’s a resort to catch phrases that seems irresistible too. It’s one thing to say that a government is working at pace but what on earth does that mean? The alternative would be to be sitting on one’s backside waiting for something to happen.

There’s also the pretence that an action is taking place immediately. Fixes are happening now. I think most listeners are mature enough to know that doing things takes time and resources. So, being evasive about an action that will take place in April next year, as opposed to now, sounds shabbily. Switching to a defensive mode is never a clever way to win over supporters.

It’s Spring. A time for new beginnings. It should be a time to elevate people’s spirits. The prospect of summer and the shaking off a dull dark winter is reason enough to be optimistic. Someone needs to tell government.

Understanding Primary and Secondary Legislation in the UK

Clear again is the conservative politician’s propensity to trade on ignorance. Remember the slogan of the big red bus of the Brexit campaign. All the abject nonsense that was said and written in 2016. It would be extremely charitable to call these intentional inaccuracies. There’s a three-letter word that sums them up. In theory, Parliament has rules. In practice, those rules are abused. That is until miscreants are exposed. Those politicians that misled the House of Commons over parties in Downing Street during the COVID pandemic shouldn’t be forgotten.

It’s a simple question. How many people know the difference between primary and secondary legislation? As far as I know these aspects of the UK’s method of making laws is not taught in schools. I think it’s vital that people of all ages get the opportunity to explore how their democracy works. Including its inherent peculiarities.

[Here’s a national event, later in the year, which can help. It’s free and already possible to plan for UK Parliament Week in November 2026[1].]

Back to the difference between primary and secondary legislation? A tabloid newspaper editor may see that question and fall about laughing. On the basis that the subject is not widely understood, instead of explaining, they may choose to write any drivel that serves their agenda. Day after day this sleight of hand provides bold headlines and support for misleading political campaigns. Then, if the truth pops its head above the parapet cries of Fake News ripple through the right-wing media.

By the way, the sad fact about this common distortion is an erosion of trust[2]. It’s no wonder that Parliament can be seen as remote from real-life. It’s regular inhabitants a strange breed of people who go native as soon as the walk through its hallowed doors.

During the UK’s membership of the European Union (EU) it expanded. In certain specific technical areas, its “competence” grew. Member States agreed to give it new roles and responsibilities. As an example, before aviation legislation was harmonised in Europe, national legislation had to be amended to accommodate every major change that developed. In the UK, both primary and secondary legislation were applied. They are now. That consists of a UK Air Navigation Act and an Order[3]. The Act being the primary legislation and the Order being the secondary legislation. These two rules are not new as they have been part of the UK’s national aviation landscape for decades.

Above here I’ve kicked at the UK’s tabloid media. Well, they are merely doing what they have always done. There’s something in morbid consistency. What’s more disturbing are the lines being taken by a national media that might be expected to be objective. Read this short article and the predisposition shines through, and this is the BBC[4].

Sir Keir Starmer is planning a law which will mean that the UK government can adopt EU single market rules, without a normal parliamentary vote.

One, it’s the personalisation. This is the government of the day and not an individual. Two, it’s the incorrect use of the word “normal.” As I’ve stated, secondary legislation is perfectly normal. In fact, the UK’s normal regulatory structures depend upon it being in place and up-to-date.

[1] https://www.ukparliamentweek.org/en/sign-up

[2] https://fullfact.org/media/uploads/full_fact_report_121021.pdf

[3] https://www.legislation.gov.uk/uksi/2016/765/contents

[4] https://www.bbc.co.uk/news/articles/c937jkvp3w8o

The False Dichotomy

Like a clock work toy. Wind them up and away they go. It goes something like this. Space exploration is a waste of scarce resources. We’d better spend them fixing problems here on Earth. Compare and contrast as if a viable choice was just to move piles of money from one place to another. This line of argument is favoured by nationalistic green politicians and liberal journalists tasked with filling newspaper column inches. A bunch of academics like to jump on the bandwagon too.

They like to divide the world into billionaire technologists ardently in pursuit of progress at the expense of everyone but themselves and open-toed sandal shoed environmentalists who’ve inherited the legacy of 1970s hippiedom. These two exists, of course, and they have influence, but they are oddities to most people.

So, much of the debates that fill the media are carved out of planks of wood. As if there are only ever two sides to every argument. Two choices to make. Two views open to debaters. As a good liberal, I must reject this dichotomy.

However, to address the subject, I’m corralled into the compare and contrast stock yard.

On the one hand, the environmental challenges before humanity are such that they need ardent attention. The stupidity of “drill baby drill” is mindbogglingly thoughtless. Stupid at a level it’s difficult to comprehend. It’s true that taking short term gains that lead to long term pains is not new. It’s one of humanities troublesome failings. Surely, we can learn from history.

On the other hand, Exploration is human. From the moment primitive bipeds took off across open plains we’ve wanted to know what’s over the horizon. What’s around the corner. Are there opportunities or threats? It’s linked with the fragility of our existence. Space isn’t a boundary that puts a stop to this curiosity. We must see with our own eyes.

Now, I’ll demolish the false dichotomy. Both above, to degrees, need to be respected. Both can be seen through the lens of human imperatives – safety and security. In fact, to an extent both are linked.

Understanding how to mitigate the negative impact of our technology, we need to develop better ways of doing business. Solar power is an example.

The fate of our planet is better understood by studying other planets, and our own from space. Nature presents itself in a myriad of complex different formula across the universe.

To get away from the either/or mentality there does need to be a marshalling of political will. This is probably the greatest challenge at a global level. I believe we can both confront climate change and progress human exploration. It requires imagination.

Myth or Productivity Booster?

A four-day week. It’s true that there’s nothing magical about the conventional five-day week. It’s an invention of modern times. There are plenty of self-employed people who’d say there were working a seven-day week. So, is the claim made by Artificial Intelligence (AI) advocates merely a sales pitch or does it have any substance?

Much depends on how seriously we take this mythical word called “productivity”. I’ve put it like this because there’s a million and one ways of determining what needs to be done as opposed to what people want to do and, when things go wrong, are forced to do.

A beaver is extremely productive. There’s an ingrained motivation to use what nature has provided to build a dam and a home. It’s non-stop. Come setbacks or successes this innovative creature keeps on going. It doesn’t watch the clock. Rarely discouraged.

I’m going to bring up a small paperback that cost 3 shillings and 6 pence when it was published. It’s one of those books that is both comedy and seriousness wrapped up in one. Parkinson’s law or the pursuit of progress is older than I am. It was first published in 1957.

The plot is simple but there are several messages. One for example, relates to the provision of resources. It goes something like this – if only we had a couple more staff and a state or the art information system we could double our efficiency. That’s contrasted by a view of past statistics that often shows a growth in staffing (or computing power) and roughly the same or even less being achieved. Why it’s suggested that AI will circumvent this nicety, I’m not sure. Speed and multiplication don’t always add up to building better projects or being more “productive”.

What a wonderful world it was going to be. The future now. I remember that clunky personal computer on my desk, in about 1996. The sounds of the dial-up modem connecting to the information superhighway of the day. The world wide web was so new we had to keep reminding ourselves of what the www stood for. Boxes of floppy disks replaced filing cabinets.

Here we are 30-years later and what do I find, or not find as the case may be? Tens of thousands of files generated by Apps on my smart phone, tablet and desktop. Whereas once I’d mastered constructing folders with logical names and placing documents exactly where I could find them in their latest version, now I’ve got an unfathomable messy clutter.

Have I become more “productive”? That entirely depends upon what is meant by that word. Decluttering digital information isn’t that much different from decluttering piles of paper on an over weighted office desk. Work expands to fill the time available for its completion. Where does a four-day week sit in that equation? Parkinson would likely say that whatever the length of the working week we’d fill it with activity. It’s almost transparent to the tools used whether they be paper based or applying the latest powerful computing capabilities.

Remember decades ago, we said; public services were going to be dramatically improved because we could be contacted by e-mail. Scrapping the paper in-tray was a day many people longed for. Files wouldn’t be delayed as they passed from office to office. Desk to desk. Or so it seemed. I don’t think we’ve stopped complaining about public services – have we?

There is one possible new element. If AI use means that humans abdicate from decision-making, then a new situation comes about. This needs to be a choice. Forcing humans out of the loop to chase the God of productivity is a dangerous pathway.

Lost Opportunities

It’s kind of odd. The wacky folk who still argue that the Brexit referendum was a good thing. For one or two well-heeled people that might be the case. It’s not the case for the overwhelming majority of British people. Maybe one issue is that it’s so difficult to get across the idea of lost opportunity. Benefits foregone because of choosing poorly.

It’s as if an ardent walker is faced with two paths. One is covered in glitter and hung with shiny streamers for the first mile only. The other is much the same as the path already traversed but it gets wide and smother after a couple of miles. One has minstrels singing patriotic and sentimental songs at its gateway. The other path has a well-meaning professor babbling on about solidarity, peace and progress. It’s the guidebook recommendation.

The destination of the first one is to circle around to get back where the walker started meantime having exhausted a lot of their provisions. For the second path there’s a whole new set of possibilities, yet unwritten. Companions are supportive and share their stories. Everyone is richer, both commercially and culturally.

The facts are that Brexit has made us poorer. In every way. It’s a pathway to nowhere, as we have found. After a decade it’s truly painful to tot-up the lost opportunities of the Brexit era. The financial numbers are huge but it’s not just about numbers. Now, the main issue is security. Developing a strong independent European defence against the global turmoil that’s ensuing.

Never a group to roll back and say – yes, you were right all along – those so deep in the Brexit ditch are pumping out propaganda much as they did in 2016. Cherished British food stuffs will need to be named using words last heard in a chemistry class. Hordes of criminal invaders will overrun our cities. They ask us to listen to apologists for climate change deniers.

Brexit is a deep fake. It’s not going to get any better. It’s going to get worse. Even if we wait 50-years, it’s not going to get any better. Certain right-wing commentators implore us to wait. To burden the generations that follow with perpetual decline.

One result of the current turmoil that is raging around the globe is the recognition that struck people with wisdom after the second world war. We have the capacity to choose between order and disorder. Anarchy has a massive cost. International rules are incredibly difficult to establish and maintain but it’s best that we try.

I know those who will counter this argument will count out the number of times the world’s institutions have failed since the late 1940s. However, that’s no-good an argument in of itself. Imagine getting to 2040. Going full circle in a century and arriving at a dystopian world of chaos where imperial racketeers terrorise billions of people. I think we can do a lot better than that if we are prepared to work for the common good.

There’s a few of words to cherish – the common good.

The Ever-Evolving Debate in the UK

It’s astonishing to me. On this site, I’ve been scribbling away for nearly a decade. My first item was posted at the end of April 2016. It was mostly in reaction to the national referendum that had been called on the United Kingdom’s membership of the European Union (EU).

I’d returned to the United Kingdom (UK) after 11-years living in German. In Cologne. As you might expect my reaction to this peculiar referendum was one of bemusement and shock. Had my home country gone completely off its trolly whilst I’d been focused on other matters?

We now know that it was sheer nativity (and a degree of vanity) that brought about this unfortunate situation. One of our privileged public schools educated Prime Ministers (PMs) took it upon himself to deal with an irritating divide in his political party. He was aided and abetted by a former leader of the UK’s most pro-European liberal political party (Nick Clegg). Go figure that one. At the time, Tim Farron was the leader of the Liberal Democrats. Sadly, capable fellow that he is, he had about as much political influence as a flag in the wind.

The campaign to remain as an EU member should have had all the campaign advantages. Lack of planning and imagination on the part of David William Donald Cameron, and those who surrounded him, meant that advantage melted away.

Reading my past words, it seems that I’d hit the nail on the head with this short line.

Migration is the biggest issue for some people when it comes to the EU referendum vote.

Cameron and Co majored on the economics. A number crunchers paradise but shamefully remote from the people who mattered – the British voters.

I’ll stick with the theme of peculiarity. Guess what, after Brexit, now a decade on, that short line is still top dog. What that tells me is that those on the right wing of politics in the UK will never ever be satisfied. To the point of building an impenetrable wall all the way around the country (rather than a path[1]). To shun anyone who they can label as a foreigner.

Those who profit from inequality and polarisation will never ever stop this push to ever most extreme positions. They have been frighteningly successful in that the political centre in the UK has moved gradually to the right. Gravelly, the cost to the average citizen has been high.

After a decade of reflection, the nation needs to get away from building walls and pilling on layers of domestic bureaucracy. The vision of the UK as a big gated community with arbitrary partisan government controls is a dumb one.

It’s fine to say that in early 2016 none of us could have foreseen COVID-19 or Russia’s foolish drive to war. We couldn’t have even foreseen President Trump’s second term in the US, although there are commentators who had that one called.

There’s a long list of predictions about Brexit that have come true – most of us are poorer.

Ironically, global matters are having more impact than ever. The need for regional and global cooperation is self-evident. Building stable institutions to serve that purpose remains of paramount importance.

[1] https://www.nationaltrail.co.uk/en_GB/trails/england-coast-path/

Transitioning to Green Aviation

Put your hands over your ears if your mantra is – drill baby drill. If climate change is a myth, in your mind, or you take a devil may care attitude, then the mere mention of the word “green” may give you the jitters. This is not for you. Move out of the way.

For the rest of us, who live in the real world, on planet Earth, there’s a problem. A prickly, tricky, sticky, long-term global problem. One that has commanded a great deal of attention but sometimes almost to the point of boring the pants off. Transport is one of those sectors that needs attention. Progress toward the adoption of Electric Vehicles (EV) is underway. Now and then, there’s a push back, but the direction of travel is clear. An immediate reminder of the need to change is the volatility of fuel prices at the pump. An inability to control or foresee global events that push oil and gas prices one way and then the next.

Sustainable aviation is turning out to be a hard nut to crack. For ground-based vehicles the issue of power density is not as constraining as it is in aviation. Weight is one of the fundamental parameters in flight. So, current high energy batteries present a particular technical challenge.

Exploring new forms of flight propulsion is a god send for futurologists, researchers and adventurous innovators. None of the technical challenges are a quick win. The avenues for study are infinite. Well almost. Antigravity doesn’t seem to be on the cards – yet.

I guess one of the barriers is that we have a sophisticated global aviation system that we, almost entirely, take for granted. The technology involved in transporting 200 people from a cold, grey, dull, wet Britain to a sunny warm inviting holiday destination has matured to such a point that few look at it with astonishment. That so much is provided for so little outlay.

It wasn’t that the problems of providing such air transport services were easy to solve. It’s an inheritance that has stretched over many decades. Testament to the work of a vast number of smart entrepreneurs, engineers, scientists, officials and alike.

Hydrogen fuel, or some form of hybrid propulsion does seem to be a long-term prospect.

What I see now is the excitement created by past projections is being tempered by practical reality. Wonderful strategic plans, with outlandish charts, pointed the way to a fossil fuel free utopia. Those colourful documents did good in driving forward a level of thinking. Where they offered a lesser contribution is in predicting and enabling a practical transition.

This is the time when everyone does a double take. Where the aim is a workable business cases that provides a transition in a believable, sound and rational sense. Flirting with bankruptcy has been a habit of past adventurous aviation developments. Read the turbulent story of the jumbo jet. Most agree this is not a desirable state to wish for or be in. Maybe this is the tale of the tortoise and the hare. Methodical plodding through the difficulties, incremental change, ingenuity and sheer hard headedness are needed. A couple of points to round off.

One – don’t get stuck on the repetitive nonsense that new developments can’t takes place until the regulatory structure is in place.

Two – don’t build houses on all the small airfields and lesser-known airports that may, one day, become part of a new transport system[1].

[1] https://en.wikipedia.org/wiki/Plymouth_City_Airport

Importance of UK-US State visits

I agree with him on numerous issues. In this case I think he’s wrong. Not only that but he’s making himself look just like the ambulance chasing willow-the-wisps Badenoch and Farage.

This morning, Ed Davey’s argument is that the planned United Kingdom (UK) State visit to the United States (US) should be cancelled. That’s withdrawing from the meeting between the King and the President. By the way, Ed Davey is the leader of the Liberal Democrat political party in the UK.

I don’t buy the argument that King Charles meeting President Trump will be a public embarrassment. Let’s put aside any thought of my personal feeling towards either man. It’s not a case of who they are as much as it is what they represent. They have met before as Head of State for the UK and US. So, it’s not as if the situation is a complete unknown.

A few points to make on the subject.

One point concerns the role of Head of State. It’s inevitable that through the course of their work they will from time to time be embarrassed. Reflecting on Queen Elizabeth’s reign, she dined with some notable unpleasant leaders not as a matter of personal choice but as a matter of duty. In many ways, it’s part and parcel of being a Head of State.

Two. This year is like no other. The US marks 250-years of independence. It would be incredible if one of the parties involved, the UK, chose to ignore this pivotal event. The current US President is inclined to hype but here’s an event that needs no hype. It’s one of the most significant dates in global history. The US Declaration of Independence is of monumental importance.

Three. Regardless of the personalities involved, the UK and US share democratic values. Fine, with different interpretations of what that means. Fundamentally, despite differences, there’s common ground which will, I hope, always be there regardless of who has the top job. Our international partnership is an inseparable bond, yes, with its inevitable ups and downs.

Four. There’s a fair chance that these Heads of State will not only talk to each other but may listen to each other. That dialogue has the potential to do some good in the world. It’s a dialogue that needn’t be trapped by everyday political struggles and tensions. To me, it’s fascinating to speculate on topics like global environmental concerns, where the two individuals clearly have an entirely different perspective.

To be topical. The last 250-years record a great deal of involvement of the UK and US is the affairs of the Middle East. Whether this has been wise, or not, is a different matter.

In the 1950s, both countries kicked off the oil industry in that part of the world. Both have had a hand in what has developed since. Our economies are tied to oil as a result. That legacy is not easy to walk away from even if change is inevitable.

Navigating Change

It’s all too easy to say – it was different in my time. How things have gone downhill. There’s a boring refrain from me, and my baby boom generation, which laments a lost era. What we forget is that all of history is a lost era. Becoming history is a discomforting feeling.

I remember walking around the transport museum at Brooklands in Surrey. Look to one side and there was an aircraft cockpit display that was the latest tech in my days as a young design engineer. It was slightly worse than that in that the retired equipment, covered in dust, was one I worked on in the late 1980s. Sophisticated at the time. Now an item of curiosity.

This weekend, I stood under the last flying Concorde at Aerospace Bristol. Looking up the supersonic aircraft, it remains stunning, impressive, and futuristic. It’s a real testament to the British and French engineers who were so adventurous, creative, and foresighted in its design.

That said, in the end that era came down to money and politics. Just goes to show what the implications are of having made a robust international commitment and finding it impossible to backout. As a purely business adventure, a project like Concorde is difficult to justify. As a cultural icon and industrial marker laid down for all of history to appreciate, it’s momentous. It’s reasonable to say that the success modern-day AIRBUS has roots in this tremendous European collaboration.

Anyway, back to war and more day-to-day concerns. There’s no doubt that having some form of industrial strategy is better than not having one. The trouble is that UK Governments come and go and are incredibly fickle. So, a nice policy document with sound ideas can either spur change or slowly gather dust with equal measure.

Reflecting over the last 40-years and more, the UK has taken a large peace dividend. Defence spending has declined steadily under every political flag. This has led to a focus on fewer engineering projects. A concentration on fewer prestige assets whether in the air, at sea or on land. A gradual cutting of cloth to fit a lesser role in the world.

How do I write is without the predicable lament? It’s a matter of highlighting the downsides of the current position without lapsing into an archaic wish for a return to a bygone era.

One observation I would make here. If I pick up a British aviation magazine of the 1960/70s it’s clear that there’s a huge diversity of small and medium sized enterprises (SMEs) making products that are as diverse as they are spread across the country. Yes, the large aerospace companies have consolidated so that there remains a handful of prominent names. A lot of the iconic British names have disappeared. Consigned to museums. Inward investment has meant that the titans of the past have been swallowed up by international businesses.

There’s a pattern here that is not uniquely British. I’d make the point that one of the most concerning weaknesses is the decline of the large ecosystem of SMEs. Or the precarious situation that is often their fate. These businesses are the smaller fish that swim around the bigger players. They have the capacity to be dynamic and innovative. Even if they are often under regarded and more vulnerable to economic shocks.

Central government can’t always solve problems. That said, they can, at least, take an interest and create an environment where such entrepreneurs can flourish. Reflecting over the last 40-years and more, governments have been immensely ineffective in this respect. Policy documents are great. Where the failing persists is going from words to effective actions.