In The News

Angus Deaton’s Nobel Is a Victory for Globalization – And Raises Hard Questions About It

Tim Fernholz October 13, 2015
Economies are built on people’s choices, and the Nobel for economic sciences, the Sverges Riksbank Prize, has been awarded to Angus Deaton for his research in that area. “In a world where we increasingly measure welfare based on what we can consume, Deaton has given policymakers important tools to boost prosperity, particularly in poor countries, while arguing – sometimes controversially – that...

Capitalists, Arise: We Need to Deal With Income Inequality

Peter Georgescu August 10, 2015
Billionaires are nervous about growing inequality. The United States is wealthy, yet 40 percent are in debt, living from pay check to pay check. Businesses that rely on ordinary consumers purchasing clothes, home products and more will see stagnation. “If inequality is not addressed, the income gap will most likely be resolved in one of two ways: by major social unrest or through oppressive taxes...

Report: 61,000 Indian Millionaires Shifted Overseas in Last 14 Years

August 3, 2015
Wealthy individuals are mobile and can relocate to jurisdictions that offer competitive taxes, schools, business opportunities and security. Globalization and improved transportation, communications along with second citizenship have contributed to mobility. The report from New World Wealth and LIO Global covers the years 2000 to 2014 and points to the top senders as China, 91,000; India, 61,000...

Climate Change Brings Moral Change

Mary Evelyn Tucker July 14, 2015
The world’s major religions urge both respect for nature’s power and gratitude for Earth’s bounty. No one should have been surprised by the encyclical of Pope Francis, rallying believers and non-believers in a global call: “The urgent challenge to protect our common home includes a concern to bring the whole human family together to seek a sustainable and integral development, for we know that...

Pope Calls for “Action Now” to Save Planet

Philip Pullella June 18, 2015
Pope Frances, leader of the Catholic Church, is calling for immediate action on climate change and poverty. “In the ‘Laudato Si (Praise Be), On the Care of Our Common Home,’ Francis calls for a change of lifestyle in rich countries steeped in a ‘throwaway’ consumer culture and an end to an ‘obstructionist attitudes’ that sometimes put profit before the common good,” reports Philip Pullella for...

New Birth for Social Democracy

Kemal Derviş June 12, 2015
Structural changes in the global economy are driving inequality. Technology has not only replaced many workers in manufacturing and services, but is also transforming the traditional business model. Decentralized organizations hire low paid, temporary workers instead of long-term employees. Uber, which has threatened traditional taxi services, is an example of a decentralized business model. This...

Desperate Millions Flee Poverty, Persecution and Inequality

Joergen Oerstroem Moeller June 11, 2015
The world confronts an immigration challenge as vast numbers flee conflict and religious persecution in the Middle East and South Asia along with stark poverty in Africa and South America. The world has 50 million forcibly displaced people, and millions more leave their homelands in search of opportunity. Widening inequality and demographics, with low fertility rates in wealthy nations and high...