In The News

Bloomberg: EU Wants Members to Respect Values or Take Pay Cut

Leonid Berehidsky May 4, 2018
The European Union represents values as much as much as trade, political or economic relationships – and its staff proposes reducing budgets of member states that weaken the rule of law and tolerate corruption. The European Commission has proposed a $1.3 trillion budget that would “make it more difficult for nationalist governments to use the union’s money to garner voter loyalty,” explains...

New York Times: The Villain Behind a New Gilded Age

Eric Posner and Glen Weyl May 2, 2018
Consolidated power among corporations, more so than the forces of globalization or technology, has reinforced inequality, fueled populism and reduced support for democracy. “In the past two decades, growth rates in the United States have fallen to half of what they were in the middle of the 20th century,” note authors Eric Posner and Glen Weyl for the New York Times. “The share of income accruing...

Project Syndicate: Why We Need Globalization

Koichi Hamada May 2, 2018
Open economies with active trade, immigration and foreign investment have historically enjoyed prosperity, and “globalization does not deserve voters’ ire,” argues Koichi Hamada for Project Syndicate. Competition does harm some communities and individuals, but governments can target policies that encourage economic security, job training and adaptation. “Yet such countervailing policies are...

Forbes: Lifelong Learning Matters

Lynne Doughtie April 26, 2018
To compete in a global and digital economy, workers cannot afford to stop educating themselves. Technological advancements like artificial intelligence disrupt economies, and businesses struggle to recruit skilled employees. “Part of the problem is that many workers are struggling to take advantage of the opportunities afforded by technological disruption,” explains Lynne Doughtie, CEO of KPMG,...

Project Syndicate: The Globalization Backlash Paradox

Arvind Subramanian April 26, 2018
Some forms of globalization tend to be appreciated more than others, and economist Arvind Subramanian delves into why cross-border financial exchanges are more widely accepted than trade or migration despite having “regularly wreaked havoc on rich and poor economies alike over the last 40 years.” He concludes: “When it comes to real global integration, it is easy to identify perpetrators and...

BBC: Finland’s Basic Income Trial Falls Flat

Laurence Peter April 24, 2018
Populations grow yet automation and productivity reduce job numbers and security. To reduce poverty, governments consider guaranteeing a universal income for their citizens. Finland launched a pilot program in 2017, when the unemployment rate exceeded 9 percent, for 2000 unemployed people selected randomly to receive monthly payments of $685 per month. Results are expected in 2019, but the...

Japan Times: Japan and Fourth Industrial Revolution

Heizo Takenaka April 2, 2018
Big data, artificial intelligence and robotics are revolutionizing business, both increasing efficiency and reducing labor requirements. Japan, the world’s third largest economy, confronts two challenges, slow government response for labor and other reforms and the need for stronger corporate governance, explains Heizo Takenaka, a former fiscal policy minister for the country. Japan also has two...