In The News

How the Wealthy Keep Themselves on Top

Tim Harford August 20, 2013
Inequality is pronounced and widening, particularly in the United States and the United Kingdom, but also Australia and Canada. People tend to care more about inequality during times of economic crisis, suggests Tim Harford. “The uncomfortable truth is that market forces – that is, the result of freely agreed contracts – are probably behind much of the rise in inequality,” he writes for the...

The Price of “Made in China”

Peter Navarro August 6, 2013
Shoppers often make selections based on price, and in a free market system, governments contracting out work or projects are expected to choose the lowest bidder who can provide the most efficient, highest quality work. Decisions focusing on price alone – which often leads to China garnering so much business – may neglect some hidden costs, argues Peter Navarro, a professor of economics, in an...

Countries Globalized But Education Lagging

Dominic Sachsenmaier June 18, 2013
Schools at all levels, particularly universities, could do more to prepare students for a global society by adding globalization to curricula – not just facts about other parts of the globe, but languages, analysis and connections. The framework of entire disciplines has not kept pace with a fast-changing global economy and culture, contends Dominic Sachsenmaier, history professor and author....

India Outsourcing Under Scanner After $45-mn Global ATM Heist

PTI May 10, 2013
Outsourcing by financial institutions is under new scrutiny in the wake of two massive bank heists spanning at least 24 countries. The thieves targeted two payment processing companies, one in India and the other in the United States, hacking computer systems that process MasterCard debit cards issued by two UAE banks, reports the PTI news agency in India. In two separate attacks, the organizers...

Canada Must Face Globalization Head On

Rod Szasz April 25, 2013
Information technology, a global marketplace, wage differentials, plenty of skilled labor and a quest for profits have made outsourcing inevitable for banking and many other businesses. Workers lose jobs as consumers consistently choose low-cost electronics, apparel, news or banking services. “No country is unaffected by these changes,” writes Rod Szasz, trader and founder of an industrial...

Is Tourism the Most Destructive Enterprise?

Elizabeth Becker April 23, 2013
Travel has grown exponentially since the 1960s, and tourism employs more people than any other industry. As political developments have opened borders, as new technologies in aviation and communications provide new access, few destinations go unexplored, suggests Elizabeth Becker, author of Overbooked: The Exploding Business of Travel and Tourism. She explains that any human endeavor can be...

Instead of the State, Globalization Has Withered

Julie Novak April 19, 2013
Nations are keen to control globalization, welcoming the best ideas and talent and keeping away the problems, a task much easier said than done. Most nations appreciate a large choice in trendy products, hard-working and innovative immigrants, and a reputation for being cosmopolitan. The 2008 financial crisis enlarged rather than destroy government, fueled by fiscal stimulus spending, maintains...