In The News

Harold James January 4, 2017
Trade, automation and other facets of globalization have eliminated some careers. One solution is for government to provide an unconditional basic income, but that may not eliminate resentment. Historian Harold James examines how artisans recovered after losing work during the Industrial Revolution of the 18th and 19th centuries: “many displaced workers emigrated – often long distances across...
Roger Blitz and Elaine Moore January 2, 2017
Emerging markets are growing, lifted by rising commodity prices and foreign investment. However, a rising dollar, higher interest rates and protectionist policies as promised from developed countries will pose challenges. “US relations with China will cause EM [emerging markets] much angst,” write Roger Blitz and Elaine Moore for Financial Times. They add that countries that have diversified...
Harold Sirkin December 23, 2016
Those who fear globalization are often dismissed as bigots, but anxiety over security and jobs is another factor, explains author and professor Harold Sirkin for Forbes. Many in the developed world have lost confidence. “Unfortunately, too many people in the industrialized West have too much idle time on their hands – and not by choice,” he explains and that compounds the anger and fear. “People...
Rachel Rosenthal and Yifan Xie December 22, 2016
In mid-December, the People’s Bank of China, China’s central bank, pumped more than US$80 billion into the bond and money market sectors of its financial industry. The bank was responding to a precipitous drop in bond prices “that led authorities to temporarily halt trading,” reports the Wall Street Journal. Chinese investors worry about the US Federal Reserve’s embrace of increased rate...
Harriet Torry December 14, 2016
The Federal Reserve, seeing improvements in the US economy and reduced unemployment rates, not only raised its benchmark short-term interest rate for the first time in a year but anticipates more rate hikes in 2017. The board’s vote was unanimous. Rates were kept near zero for seven years since the 2007-2008 financial crisis until a small rise in December 2015. “Fed officials said an improving...
Michael Heise December 13, 2016
Governments delayed in accepting or tackling inequality as a major challenge. The concept “remains poorly defined, its effect is highly variable, and its causes hotly debated,” notes Michael Heise, chief economist of Allianz SE, for Project Syndicate. Inequality is concentrated in the developed world, and wealth is more broadly distributed at the global level: Since 2000, the ranks of the middle...
Karin Klein December 9, 2016
Strong education systems contribute to strong economies. Every three years the Programme for International Student Assessment, PISA, tests the skills and knowledge of 15-year-old students in math, reading and science. More than 80 countries have participated, and many obsess about rankings. Comparisons based on raw scores can be tricky, warns Karin Klein for the Los Angeles Times. Researchers...