In the online battle of ideas, capitalism must go on the attack (Daily Telegraph)

CPS Board Member and Founding partner of Lepe Partners Jonnie Goodwin wrote for the Daily Telegraph on May 3 2014 on the interactive digital think tank to be launched by the Centre for Policy Studies in June.

To read the full article, visit the Daily Telegraph website

“The matching of appropriate content to user is currently too weak and reliant on manual search. Viral promotion and the growth of social media have often suppressed the best pieces of insight in favour of those that are more in vogue. News aggregators such as Digg and Upworthy have found a way to harness popular media from the internet but there is not anything like this for the political and economic space. Fortunately we have found a solution.

The Centre for Policy Studies (CPS) is working to introduce the world’s first digitally interactive think tank to promote a campaign for popular capitalism – the idea that free markets can work for the benefit of all.

Signal Media, a promising next-generation media monitoring and business intelligence company set up in 2012 by David Benigson, is currently creating capX, a fully integrated app and website platform to enable clients to search and consume the world’s news and intelligence around any industry, topic or individual that matters to them.

Over time, the technology organically adapts and evolves, learning from clients’ interactions and improving its output accordingly. It has the potential to bring data analytics to the mass market in a way that others in the field like Precise, Factiva and Lexalytics currently don’t.

The technology behind this new digital think tank will identify the most relevant news and research tightly focused around important economic themes like “growth”, “employment” and “innovation”; but also concepts like “big business”, “big government” and “market reform”.

Their algorithmic system textually analyses over 3m articles a day produced by 60,000 news sources and 400,000 blogs to find the content that best meets an evolving set of trained preferences. These sources encompass not just established global media providers such as The Telegraph, The New York Times or China Daily but obscure publications such as the Myanmar Business Network or Greg Mankiw’s economics blog. If thoroughness is about leaving no stone unturned then the complement here is that the software will leave no idea unprocessed.

We need to begin making the case that the capitalist system is the best we have for creating more wealth, more jobs and better wages, as well as maintaining a strong social safety net for the most vulnerable among us, and there has been some interesting commentary on this topic recently in the SuperEntrepreneurs paper that was published last week.

In a society where capitalism is allowed to flourish, more philanthropic individuals and charitable organisations take root in communities; there is more technological progress, more scientific research and medical advancement, and a generally better standard of living for citizens. capX will be launched next month at the CPS’s upcoming conference on liberty and will be seen in the coming months and years as leading the fight-back for popular capitalism.”

 To read the full article, visit the Daily Telegraph website

Date Added: Tuesday 6th May 2014