Synopsis: As the world grows more technologically and economically interdependent, a worrying trend of disinformation and polarised discourse has permeated both online and offline discourse as evidenced by Bashky et al 2015, Duggan and Smith 2016). This has adversely affected the decision-making process in the private and public sector with lasting implications for policy. Nevertheless, facts, data-driven policy and a better understanding of our role in reframing engagement is indispensable in facilitating mutually beneficial cooperation. The latter will improve learning and the decision-making processes that will outlive politics and polarised discourse.

Polarised discourse has adverse implications for society and policy

A significant portion of the media we consume has become polarised, as users seek balance between culture, values, and facts. The interplay of all three has seen extreme movements emerge strongly across the World; sectarian pressures have stirred and sustained conflict at the detriment of solutions-oriented policy and problem-solving discourse.

Political Polarisation in America

The economic and social costs of polarised discourse span aloofness to climate change, transparency, accountability and governance, and to some extent, the erosion of trust in institutions and policymaking. Effective discourse, therefore, hinges on the ability to leverage the internet to improve information sharing and outcomes.

The internet; a double-edged sword

Whilst most agree that the internet has connected the world, researchers disagree on its effects on discourse. While Sustein (2017) notes increased polarization, Boxell et al find no correlation between ideological homophily and social media usage. Meanwhile, Allcott & Gentzkow (2017) find misinformation has very little effects on the citizen’s level of political knowledge. All this do nothing to dispel the adverse implications, which permeate the reality.

Facts and how to communicate them are equally as important

Regardless of the conflicting findings, we need a different model of interaction in order to ensure decision-making structures outlast political outcomes and party-centric democracies. This means a more urgent but solutions-driven dialogue both on and off social media. The “individual” must, therefore, be more conscious if we are to fully leverage the opportunities latent in technological advancements, globalization, and economic policymaking.

In practice, this means verifying facts, narratives, and outcomes rigorously. The internet has given us the very best sources to choose from in every field, ranging from the humanities to the sciences; understanding of data sources, polls, reports, and their context will insulate exchanges and policymaking over the long term.

For example, how does one frame Chinese Vs Western Capitalism? The former can be viewed as a state-driven model that has facilitated cooperation between domestic technology companies — mainly artificial intelligence — and its automotive industry or an unfair system designed to protect domestic incumbents, via subsidies, at the expense of foreign counterparts. meanwhile, Western capitalism has eased the flow of goods, services, people and capital but some sectors — such as artificial intelligence and the automotive sector — are largely unaware of the benefits of cooperation over the long-term.

21st Century Technocracy is about delivering, not planning

It is important for policymakers and business leaders to take a more technocratic approach in designing, executing and measuring the impact of said policy. Taking a long-view to internet-exchanges, economic and social policy will insulate profit margins in the long run and support not only economic growth but a transition to a more technologically-driven economy.

By engaging with domestic & international peers, private and public institutions, as well as governments, can leverage expertise and craft development models that pre-empt future challenges in Central Bank, Economic, and public policy. The latter will dictate the extent to which, if at all, countries can leverage their workforce and unlock the opportunities latent in the economic and climate transition.

The vision for how we communicate rests not on the outcomes but rethinking the processes that allow for effective decision making — from obtaining to disseminating expertise. This will ensure the risk of policy inertia in any sector is counterbalanced by a set of actionable and self-correcting practices on and off-line.