SHANGHAI — China’s economy grew at a healthy pace in the first three months of this year, propelled by strong household spending and heavy government investment in infrastructure.
SHANGHAI — China’s economy grew at a healthy pace in the first three months of this year, propelled by strong household spending and heavy government investment in infrastructure.
(CNN)A small island in the Pacific Ocean is the site of a huge discovery that could change Japan's economic future. How huge? One economist called it a "game changer." The researchers who helped find it said it had "tremendous potential."
JUST a few years ago Wuhan, a sprawling metropolis in the middle reaches of the Yangtze River, exemplified China’s economic woes. Municipal debt had soared. The most senior local official was known as “Mr Dig Up The City”, a reference to his zeal for grandiose construction projects.
Since the election of Donald Trump as president, the question of what white working-class voters want has been a near obsession of the Democratic Party and the punditocracy. Little wonder. The support of the cohort played a big role in propelling Trump to his surprise victory.
The International Monetary Fund predicted the world economy’s strongest upswing since 2011 will continue for the next two years, but warned the seeds of its demise may have already been planted. The fund on Tuesday left its forecasts for global growth this year and next at the 3.
We all know the importance of the job interview for getting hired. You can have a stellar résumé, a great record of employment, and terrific references, but if you blow the interview, chances are you're not going to get the job.
The economy is growing but our paychecks are not. That’s because employers have, over decades, built a political apparatus to hold down pay When unemployment goes down, wages are supposed to go up. That’s just supply and demand.
Conventional wisdom says Britain’s transformation in the 18th century from an agrarian economy to an industrial one was largely midwifed by technological innovation and mechanisation, as symbolised by the steam engine and the cotton factories, respectively.
Granted, philosophy may not sound like the most exciting subject to learn about in this day and age--how could the thoughts and opinions of ancient Greek philosophers of 300 BC, and dazzling minds such as Cicero, Seneca, and Marcus Aurelius, possibly engage us in 2017?
Technology is commanding our attention in infinite, insurmountable loops. A country trip off-grid helped me escape.There are a thousand beautiful ways to start the day that don’t begin with looking at your phone. And yet so few of us choose to do so.
Donald Trump’s election win, many speculated, must be due to geographic inequality and the increasing concentration of economic activity in a handful of big coastal cities. It was tough to escape the woeful tales of small-town and Rust Belt voters in the final months of 2016.
Over the course of the 20th century, the mature economies of the world evolved from being industrial economies to knowledge economies. Now we are at another watershed moment, transitioning to human economies—and the shift has profound implications for management.
In 2011, Ohio voters repealed Senate Bill 5, an attack on collective-bargaining rights.
POPULISM’S wave has yet to crest. That is the sobering lesson of recent elections in Germany and Austria, where the success of anti-immigrant, anti-globalisation parties showed that a message of hostility to elites and outsiders resonates as strongly as ever among those fed up with the status quo.
Richard H. Thaler, who won the 2017 Nobel Memorial Prize in Economic Science, is no stranger to our pages. Here are some of his notable columns. They exemplify his career-long efforts at humanizing economics, showing how the behavior of real people affects economic activity.
On Friday, Treasury Secretary Steve Mnuchin said he’s “not worried at all” about artificial intelligence replacing human workers because it's “50-100 more years” off. In reality, data shows this is already happening — with an estimated 38 percent of existing U.S.
This week, The Ringer explores how the “on demand” model has changed the way we consume TV, film, food, products, and, well, almost everything. Consumers have both adjusted to the streaming era and dictated how businesses operate in its wake.
At 9 p.m. Eastern time on July 10, Amazon initiated its annual show of force: Prime Day, a 30-hour exercise in the fullest possible expression of what Amazon can do. The sale, timed to the company’s ‘‘birthday,’’ is marketed with an urgency bordering on panic.
It is an odd twist of chemistry that there is fuel embedded in the most common substance on earth: water. Hydrogen — the H of H2O fame — turns out to be something of an all-purpose element, a Swiss Army knife for energy. It can be produced without greenhouse gases.
The populist revolt of our day reflects the deep rift that has opened between the worldview of the global intellectual and professional elites, and that of ordinary citizens. These two groups now live in parallel social worlds and orient themselves using different cognitive maps.
There is an economic mystery I’ve been struggling to understand for quite some time, and I’m not the only one who’s confused: Among financial experts, it is often referred to as a conundrum, a paradox, a puzzle. The mystery is as follows: Collectively, American businesses currently have $1.
If the goal of the economy is to provide decent-paying work for everyone, that economy clearly isn’t doing a good job at the moment. Real wages for most Americans haven’t increased in 40 years. Real unemployment–which includes the “under-employed”–is above 10%.
Chris Berg, Sinclair Davidson and Jason Potts are from the RMIT Blockchain Innovation Hub, the world’s first social science research centre into the economics, politics, sociology, and law of blockchain technology. The blockchain is a digital, decentralised, distributed ledger.
YOU have multiple jobs, whether you know it or not. Most begin first thing in the morning, when you pick up your phone and begin generating the data that make up Silicon Valley’s most important resource.
More than 151 million Americans count themselves employed, a number that has risen sharply in the last few years. The question is this: What are they doing all day? Because whatever it is, it barely seems to be registering in economic output. The number of hours Americans worked rose 1.
TWO big trends in the world appear to contradict each other. On the one hand, computer networks are said to be disrupting centralized power of all kinds and giving it to the individual. Customers can bring corporations to their knees by tweeting complaints.
At the World Government Summit in Dubai, our real-world Tony Stark, Elon Musk, was throwing around some big and important ideas about the future of humanity.
The American economy finished off last year on a firm footing, and is poised for more vigorous growth in the months to come. Preliminary estimates released by the government on Friday showed that the nation’s output increased at an annual rate of 2.6 percent in the final quarter of 2017.
Radicals have a habit of speaking in the conditional. Underlying all their talk about the changes they’d like to see in the world is the uneasy knowledge that our social system places rigid limits on how much change can be accomplished now. “After the revolution . . .
Last week, I logged onto Facebook to see a story about a man who got drunk, cut off his friend’s penis and then fed it to a dog. This was followed by a story of a 100-year-old woman who had never seen the ocean before. Then eight ways I can totally know I’m a 90’s kid.
The praise this week for Andy Grove, who died on Monday at age 79, has been wrapped up in praise for Silicon Valley, where he was a towering figure in the semiconductor revolution and the longtime leader of Intel, the world’s biggest supplier of microprocessors. Lost in the lore is Mr.
Economics professor Arun Kumar is one of the most widely quoted authors on black money. He has authored The Black Economy in India (Penguin, 1999) and Indian Economy since Independence: Persisting Colonial Disruption (Vision Books, 2013).
We are creating an intelligence that is external to humans and housed in the virtual economy. This is bringing us into a new economic era—a distributive one—where different rules apply. A year ago in Oslo Airport I checked in to an SAS flight.
This is In Real Terms, a weekly column analyzing the latest economic news. Comments? Criticisms? Ideas for future columns? Email me, or drop a note in the comments.
How China’s business environment will evolve on its way toward advanced-economy status. For ten years or more, China has been a uniquely powerful engine of the global economy, regularly posting high single-figure or even double-digit annual increases in GDP.
AMERICA’S airlines used to be famous for two things: terrible service and worse finances. Today flyers still endure hidden fees, late flights, bruised knees, clapped-out fittings and sub-par food. The profit bit of the picture, though, has changed a lot.
The global economy is slowing down. A couple of the big emerging-market economies that drove much of the growth during the past 15 years have hit a wall, and the question of the moment is whether the biggest of them, China, is in real trouble too. Commodity prices are tanking.
There’s nothing new about fears of technological unemployment. The idea goes back to the Luddites in 18th-century England and John Maynard Keynes in the 1930s. Union bosses have long railed against factory automation, and governments have even resisted technology to maintain higher job levels.
Abolishing debt-based currency isn’t a new idea, but it could hold the secret to ending our economies’ environmentally damaging addiction to growth When it comes to global warming, we know that the real problem is not just fossil fuels – it is the logic of endless growth that is built
This year, the term "sharing economy" was introduced into the Oxford English Dictionary, proof—not that we need it—that the sharing economy as an idea is here to stay.
Well I’m in the working world again. I’ve found myself a well-paying gig in the engineering industry, and life finally feels like it’s returning to normal after my nine months of traveling.
In the wake of the 2008 financial crisis, conventional wisdom among economists, business leaders, and policy makers was fairly straightforward: Once the banks were bailed out, the stimulus spent, and businesses had a few years to recover, the U.S. economy would return to its usual healthy growth.
At the very moment of its ultimate triumph, capitalism will experience the most exquisite of deaths.
Even as Bitcoin, riven by internal divisions, has struggled, a rival virtual currency — known as Ethereum — has soared in value, climbing 1,000 percent over the last three months.
Marriage counselors tell us that couples frequently tie the knot without discussing the core matters that can cement or sunder their marriage: finances, children, religion. Well, let me add one under-discussed biggie to the list: restaurant dining.
Robert Gordon has written a magnificent book on the economic history of the United States over the last one and a half centuries. His study focuses on what he calls the “special century” from 1870 to 1970—in which living standards increased more rapidly than at any time before or after.
You may not be sharing your office with a robot yet, but the next wave of automation has begun. Humanoid service robots, machine learning algorithms and autonomous logistics will replace millions of service workers in the coming decade. Experts are rushing to forecast the likely impact on jobs.
EVEN before the disaster, Scranton had been having a poor century. In 1902 the Lackawanna Steel Company left north-east Pennsylvania in search of better access to transport and a less assertive labour force.
SAN FRANCISCO — Well before anyone thought of this place as the center of the tech economy, the Bay Area built ships. And it did so with the help of many parts of the country. Douglas fir trees logged in the Pacific Northwest were turned into lumber schooners here.
Who doesn’t want to be more efficient? Pay someone else to do your grocery shopping — and clean your house, walk your dog, take that package to the post office. Blend your food so you don’t have to spend time chewing it.
The world’s largest technology investor is preparing to ramp up his bet on the Trump economy.
The global economy is in crisis. The exponential exhaustion of natural resources, declining productivity, slow growth, rising unemployment, and steep inequality, forces us to rethink our economic models. Where do we go from here? In this feature-length documentary, social and economic theorist Jerem
Much of the beauty of capitalism is in its ability to be crafted to suit different cultures, times, and contexts.
It is barely 20 years since Sergey Brin and Larry Page registered the domain name google.com, and only 10 years since Steve Jobs walked onto a stage in San Francisco and introduced the iPhone. Yet in this short period, digital technologies have upended our world.
In about 40 minutes, Cindy Manit will let a complete stranger into her car.
How many other things are you doing right now while you’re reading this piece? Are you also checking your email, glancing at your Twitter feed, and updating your Facebook page? What five years ago David Foster Wallace labelled ‘Total Noise’ — ‘the seething static of every particular t
On Monday, the Trump administration formally declared that Obama-era fuel economy rules for automobiles were too strict and would likely be weakened in the months ahead.
This is In Real Terms, a column analyzing the week in economic news. Comments? Criticisms? Ideas for future columns? Email me or drop a note in the comments. A plea to presidential candidates: Stop talking about bringing manufacturing jobs back from China.
What’s made you feel optimistic lately? A bunch of things. It’s honestly hard to not be an optimist in this job, because we get 2,000 founders a year who come in here, sit in that chair right there, and they just tell us everything.
Last week, I logged onto Facebook to see a story about a man who got drunk, cut off his friend’s penis, and then fed it to a dog. This was followed by a story of a 100-year-old woman who had never seen the ocean before. Then eight ways I can totally know I’m a 90’s kid.
It seems like the United States economy is enjoying more innovation than ever before. At the same time, statistics show the economy suffering from its slowest growth in decades.
The Chinese stock market is plummeting so fast that authorities there keep shutting it down. North Korea set off a bomb in a nuclear test. Two of the Middle East’s great powers, Saudi Arabia and Iran, are eyeing each other menacingly.
According to a report from the Energy Information Administration (EIA), the world is getting better, on average, at using energy to power its economic activity.
A FINANCIAL crash in Russia; falling oil prices and a strong dollar; a new gold rush in Silicon Valley and a resurgent American economy; weakness in Germany and Japan; tumbling currencies in emerging markets from Brazil to Indonesia; an embattled Democrat in the White House.
Rich people are happier than poorer people on average, and richer countries are happier than poorer countries. And yet growing national wealth is not always accompanied by growing national happiness.
Not long ago, I moved apartments, and beneath the weight of work and lethargy a number of small, nagging tasks remained undone. Some art work had to be hung from wall moldings, using wire. In the bedroom, a round mirror needed mounting beside the door.
“The man whose whole life is spent in performing a few simple operations, of which the effects, too, are perhaps always the same . . . generally becomes as stupid and ignorant as it is possible for a human creature to become.
At the end of last month, the International Monetary Fund downgraded its forecast for economic growth in the United States. Where the I.M.F. previously predicted the economy would grow at a rate of 2.3 percent in 2017 and 2.5 percent in 2018, it now expects 2.1 percent growth in both years.
Crowdsourcing This Article: Over the past year, more than 150 students and alumni of our HBS course “Building and Sustaining a Successful Enterprise” have worked together on the questions this article addresses, both in person and over an online collaboration platform.
The future of work is a key topic at this year's World Economic Forum Annual Meeting. For more information, watch the Promise or Peril: Decoding the Future of Work session here. Could a robot do your job? Millions of people who didn’t see automation coming will soon find out the painful way.
According to a recent study by Oxfam International, in 2010 the top 388 richest people owned as much wealth as the poorest half of the world’s population– a whopping 3.6 billion people. By 2014, this number was down to 85 people.
‘America first does not mean America alone,” President Trump declared last month at the World Economic Forum in Davos, Switzerland. This sudden burst of pragmatism from an avowed nationalist showed what a difference a year can make.
That capitalism unobstructed by public regulations, cartels, monopolies, oligopolies, effective trade unions, cultural inhibitions or kinship obligations is the ultimate engine of economic growth is an old-hat truth now disputed only by a few cryogenically-preserved Gosplan enthusiasts and a fair n
In his book Saving Capitalism: For the Many, Not the Few, former U.S. Secretary of Labor Robert Reich provides an outstanding guide to many of the factors that prevent the possibility of a truly free market. He writes:
The Basic Income Guarantee (BIG) is back in the news. The Finns are considering implementing it, as are the Swiss, replacing all means tested benefits with a simple grant to every citizen, giving everyone enough money to survive.
Talk to anyone in Silicon Valley these days, and it’s hard to go more than two minutes without hearing about “disruption.” Uber is disrupting the taxi business. Airbnb is disrupting the hotel business. Apple’s iTunes disrupted the music industry, but now risks being disrupted by Spotify.
Surprise, surprise. Workers in Britain, many of whom have seen a decline in their standard of living while the very rich in their country have become much richer, have turned their backs on the European Union and a globalized economy that is failing them and their children.