John Kay is a visiting professor at the London School of Economics and a fellow of St. John's College, Oxford University. He writes a weekly column for the Financial Times and is the author of several books, including Obliquity: Why Our Goals Are Best Achieved Indirectly. He lives in London.
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In the world of Adam Smith and Karl Marx, capitalists built and controlled mills and factories. That relationship between capital and labor continued in the automobile assembly lines and petrochemical plants of the twentieth century. But no longer... SEE MORE