In The News

Portugal’s Jobless Graduates Flee to Africa and Brazil

Lucy Ash September 13, 2011
Despite troubled histories, colonial powers and their former colonies have maintained close relations, largely due to shared languages. This often resulted in what’s been called “brain drain,” the large-scale immigration of professionals from the former colonies to the former colonial powers in search of economic opportunity. Lucy Ash of BBC News describes a reversal in the traditional migration...

Unemployment, Inc.: Six Reasons Why America Can't Create Jobs

Mark Trumbull September 12, 2011
High unemployment in the US and a sharp reduction in consumer spending depress economies around the globe. Economists warn that the US economy could be experiencing a structural shift, explains Mark Trumbull for the Christian Science Monitor. He lists six reasons for the long period of high unemployment: companies pushing for higher productivity among workers, while hiring workers on a temporary...

Slouching Toward a Double-Dip, For No Good Reason

Robert Reich August 30, 2011
With the US on the verge of another recession, consumers hesitate to spend. The job crisis in the US has reduced revenues, adding to the debt crisis. Yet the US focuses on the wrong priority, slowing spending to ease a debt crisis rather than investing in programs to end the job crisis. Robert Reich, author and former US labor secretary, warns against shallow comparisons that equate US and...

The Real Foreign Hand Backing Anna

Rajiv Kumar August 25, 2011
One man’s protest against corruption has caught India’s attention, ignited by trends of mass protests abroad, argues Rajiv Kumar in an opinion essay for the Hindu BusinessLine: With fewer opportunities in the West, investors flock toward emerging economies like India, bringing along new demands for transparency and accountability; fewer escape routes exist for India’s elite to flee corruption;...

Foxconn, HSBC Join Global Trend: Technology Reducing Labor Costs

David Magee August 4, 2011
For corporations, people are becoming a redundancy. Reliance on technology to reduce costs and increase efficiency is a corporate trend that has contributed to high unemployment rates. An International Business Times article reports the trend is expanding into areas often blamed for jobs lost in the developed world: the world of finance and outsourcing to China. HSBC Bank and Foxconn, the maker...

Employment Versus Debt

Nayan Chanda July 26, 2011
Confronting an ongoing economic crisis, US politicians have assigned greater priority to the nation’s large deficit rather than an unemployment rate officially listed at 9.2 percent. Also overlooked is a report from the US Department of Labor that 3 million job openings go unfilled. It’s a head-scratching moment, suggests Nayan Chanda, YaleGlobal editor in his regular column for Businessworld,...

With US on the Brink of Default, Eyes are on Rating Agencies

David Dapice July 26, 2011
Governments have long operated by borrowing, not just for long-term projects but also daily operations. The US, with a self-imposed debt ceiling, borrows more than 40 cents for every dollar it spends. With the government about to exceed spending limits, global investors are on edge, waiting to see if the US Congress lifts the current debt ceiling, allowing continued operations, or goes into...