It’s easy to be negative, so how to look at our challenges in a constructive light? That being said, I’m starting this column with a negative comment: I don’t believe trickle-down economics work. It’s a force that exists ‒ Adam Smith pointed out that, in a solid financial system, only a minority need to work in order to support the majority.

This is true, and also a point grabbed by universal income enthusiasts, who refer to studies showing economies need relatively few workers to function for all. Several factors allow this to happen, one being automation ‒ also something Smith noticed.