“The European dream appears quite stable. China may be heading for a bump in the road if its population ever demands democracy. Russia had a period of fast growth (with precious little benefit for most Russians) but what happens if Vladimir Putin is becoming a military adventurer? Europe looks to have those traumas behind it. Nor has it become an American-style plutocracy.”
“Europe still has lots to learn. A French friend recently attended a Californian reception packed with brilliant French engineers working in Silicon Valley. He came home thinking: “What would it take to bring those people back to France?” That’s the sort of question Europeans need to ask: how to convert their wonderful idea networks into Apples and Googles? London, Europe’s de facto business capital, with its budding tech sector, may be finding an answer. If it does, the rest of the continent will try to copy it, because nonstop cross-border learning is still the secret of Europe’s success.”
The first paragraph and the second here are oddly dissonant to me. Isn’t the financialisation of Silicon Valley (and for that matter, London’s Tech City) a sure sign plutocracy comes riding in on the back of “Apples and Googles”?