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jerryking : eu   31

Why the US economy isn’t as competitive or free as you think
November 14, 2019 | Financial Times | by Martin Wolf.

The Great Reversal: How America Gave up on Free Markets, by Thomas Philippon, Belknap Press RRP$29.95, 368 pages

It began with a simple question: “Why on earth are US cell phone plans so expensive?” In pursuit of the answer, Thomas Philippon embarked on a detailed empirical analysis of how business actually operates in today’s America and finished up by overturning much of what almost everybody takes as read about the world’s biggest economy.

Over the past two decades, competition and competition policy have atrophied, with dire consequences......America is no longer the home of the free-market economy, competition is not more fierce there than in Europe, its regulators are not more proactive and its new crop of superstar companies not radically different from their predecessors.

Philippon's argument:
(1) US markets have become less competitive: concentration is high in many industries, leaders are entrenched, and their profit rates are excessive.
(2) this lack of competition has hurt US consumers and workers: it has led to higher prices, lower investment and lower productivity growth.
(3) contrary to common wisdom, the main explanation is political, not technological: Philippon traces the decrease in competition to increasing barriers to entry and weak antitrust enforcement, sustained by heavy lobbying and campaign contributions.”....... the US economy has seen a significant reduction in competition and a corresponding rise in monopoly and oligopoly.

What should the US want? The answers, suggests Philippon, are: free entry; regulators prepared to make mistakes when acting against monopoly; and protection of transparency, privacy and data ownership by customers. The great obstacle to action in the US is the pervasive role of money in politics. The results are the twin evils of oligopoly and oligarchy. Donald Trump is in so many ways a product of the defective capitalism described in The Great Reversal. What the US needs, instead, is another Teddy Roosevelt and his energetic trust-busting. Is that still imaginable? All believers in the virtues of competitive capitalism must hope so.
antitrust  barriers_to_entry  books  book_reviews  campaign_contributions  Citizens_United  competitiveness_of_nations  crony_capitalism  dark_money  economics  economists  entrenched_interests  EU  FAANG  free_markets  French  gun_laws  healthcare  lobbying  market_concentration  monopolies  monopsony  oligopolies  oligarchs  regulators  Theodore_Roosevelt  uncompetitive 
november 2019 by jerryking
The U.S. is sinking. Maybe it's time for Canada to jump ship.
Oct 30, 2019 | Macleans.ca | by Scott Gilmore.

Things are not going well for American foreign policy. At the geopolitical level, tectonic shifts in world power are leading to a relative decline in American dominance.......Institutionally, the U.S. State Department is in utter disarray......Donald Trump is steering from one collision to another.....we can speculate whether the U.S. decline is an inevitable result of historical political and demographic trends. Or whether it's entirely due to Donald Trump.....whether incompetence or fate, there is no question the American ship of state is leaking badly. The question we should now be asking ourselves, as Canadians, is whether we should help bail or build our own raft.....The instinctive answer is to grab a bucket......In the halls of Global Affairs Canada, the orthodoxy is that we sink or swim with Washington, and therefore, when the Trump circus finally leaves town, we should undoubtedly be there to help rebuild American prestige and influence wherever we can.

But—what if we didn’t? What if we simply boarded our own raft, or paddled over to another ally? What if we decided to “Trump-proof” Canada? What if we consciously and ambitiously began to build a new foreign policy alignment in anticipation of the next American wreck?.....Who else supports human rights, a rules-based international system and strong Western institutions like NATO? The obvious answer is the EU......we are far more likely to achieve our common goals of multilateralism and the rule of law if we join forces more closely. As Canada’s diplomats begin to brief Canada’s next government on the menu of foreign policy options, it would be nice to think that there is a tiny footnote that points out this one small but true idea—when it comes to Washington, there are other options.
America_in_Decline?  Canada  Canadian  crossborder  beyondtheU.S.  Donald_Trump  EU  foreign_policy  generating_strategic_options  geopolitics  Global_Affairs_Canada  imperial_overstretch  international_system  middle-powers  multilateralism  retreats  rules-based  rule_of_law  Scott_Gilmore  seismic_shifts  Trump-proofing  U.S.foreign_policy  U.S._State_Department  Washington_D.C. 
november 2019 by jerryking
Beethoven’s Ode to Joy has been harnessed for good and ill
october 14, 2019 | FT.com | by Helen Brown.
Ode to Joy is the EU's anthem, music that was written by Beethoven. But “Ode to Joy” was composed with the dream of European peace and unity very much at its heart.

“Ode to Joy” appears like a burst of sunlight in the fourth and final movement of Beethoven’s stormy Ninth (and final) Symphony. The composer’s decision to bring a choir into the piece was revolutionary, giving soaring voice to a poem that had thrilled Beethoven as a young man: Freidrich Schiller’s “An die Freude”. Written in 1785 — on the brink of the French Revolution — the popular poem expressed a yearning for peace and egalitarianism: “All men will become brothers … Be embraced, you millions!”

As soon as he heard Schiller’s words, the young Beethoven imagined setting them to music. Like many liberal, cosmopolitan youths of the time, the German composer was excited by the ideals of the French Revolution and dedicated his Third Symphony to Napoleon Bonaparte before scratching out the name.
Beethoven  choirs  composers  EU  music  Napoleon_Bonaparte  poems  songs  symphonies 
october 2019 by jerryking
Opinion | The United Kingdom Has Gone Mad - The New York Times
By Thomas L. Friedman
Opinion Columnist

April 2, 2019

What do the most effective leaders today have in common? They wake up every morning and ask themselves the same questions: “What world am I living in? What are the biggest trends in this world? And how do I educate my citizens about this world and align my policies so more of my people can get the best out of these trends and cushion the worst?”

So what world are we living in?

(1) We’re living in a world that is becoming so interconnected — thanks to digitization, the internet, broadband, mobile devices, the cloud and soon-to-be 5G wireless transmissions — that we are becoming interdependent to an unprecedented degree. In this world, growth increasingly depends on the ability of yourself, your community, your town, your factory, your school and your country to be connected to more and more of the flows of knowledge and investment — and not just rely on stocks of stuff........The key to creating economic value has been to acquire some proprietary knowledge stocks, aggressively protect those knowledge stocks and then efficiently extract the economic value from those knowledge stocks and deliver them to the market. The challenge in a more rapidly changing world is that knowledge stocks depreciate at an accelerating rate. In this kind of world, the key source of economic value shifts from stocks to flows......yet Britain is ruled today by a party that wants to disconnect from a connected world....
(2) Understand that in a world of simultaneous accelerations in technology and globalization, keeping your country as open as possible to as many flows as possible is advantageous for two reasons: You get all the change signals first and have to respond to them and you attract the most high-I.Q. risk-takers, who tend to be the people who start or advance new companies.....The best talent wants to go to the most open systems — open both to immigrants and trade — because that is where the most opportunities are. Britain is about to put up a big sign: GO AWAY.
(3) wise leaders also understand that all the big problems today are global problems, and they have only global solutions: climate change, trade rules, technology standards and preventing excesses and contagion in financial markets......small states/middle powers need to be part of a wider coalition like the European Union.
(4) the best leaders know a little history. Trump is fine with a world of competitive European nationalisms, not a strong European Union. So is Vladimir Putin. So, it seems, are the Brexiteers. How quickly they’ve all forgotten that the E.U. and NATO were built to prevent the very competitive nationalism that ran riot in Europe in the 20th century and brought us two world wars.
21st._century  accelerated_lifecycles  Brexit  EU  historical_amnesia  history  information_flows  interdependence  interconnections  middle-powers  open_borders  proprietary  questions  small_states  talent_flows  technical_standards  Tom_Friedman  United_Kingdom  value_extraction 
april 2019 by jerryking
Five things we learnt from Apple’s latest launch
March 27, 2019 | | Financial Times | Richard Waters 3 HOURS AGO.

(1) With its move to services, Apple's balance sheet and installed base of users have taken over as the main source of competitive advantage....Apple has barely scratched the surface in selling content and services for the 1.4bn iPhone, Macs and other devices in active use.
(2) there is a chance to carve out a trusted position at a time when other internet giants are under fire. Think of it as a Disney for digital services: a trusted brand built around a set of values that stand above the crowd.
(3) there is still room for innovation at the margin, which should have a halo effect for the brand. The new credit card with Goldman Sachs is a case in point.
(4) Apple’s main way to make money — selling hardware — leaves it with a dilemma as it makes the move into services. .... it will be hard to get a return on the huge spending on entertainment unless it spreads that investment across the largest possible audience — which means reaching beyond its own hardware. This tension between vertical and horizontal business models — capturing more of the value from its own devices on the one hand, selling a service for everyone on the other — is not new for Apple.

(5) after more than a decade of the App Store, Apple’s relationship with many of the companies that have relied on the digital storefront to reach their own customers is about to change utterly...How will Apple promote its own services to its users, and what will this mean for iOS as a platform for third party apps? Spotify’s antitrust complaint to the EU this month is likely to be the harbinger of more challenges to come.
antitrust  Apple  Apple_IDs  App_Store  balance_sheets  Big_Tech  competitive_advantage  consumer_finance  credit_cards  cross-platform  EU  halo_effects  hardware  iOS  Richard_Waters  services  Spotify  streaming  subscriptions  turning_points  user_bases  web_video 
march 2019 by jerryking
Why America cannot fly alone
March 13, 2019 | Financial Times | by Edward Luce.

The US does not have a head of the Federal Aviation Administration.

It took about 72 hours for reality to close in on Donald Trump. One by one, the world’s regulators — led by China, swiftly followed by the EU — grounded Boeing’s 737 Max planes following two disastrous crashes. Under pressure from Mr Trump, America’s FAA held out. When Canada joined, America’s isolation was almost complete. Mr Trump’s stance offers a unique example of the world spurning America’s lead on airline safety. His reversal is a “teachable moment”.... on the realities of a fast-changing world. Why? The biggest factor is falling global trust in US institutional probity. Mr Trump’s budget this week proposed a cut to the FAA in spite of the fact that its air traffic control system remains years behind many of its counterparts. Moreover, the FAA lacks a chief.......The FAA has been flying without a pilot, so to speak, for more than a year. Little surprise America’s partners have lost trust in its direction.......More than halfway through Mr Trump’s term, one in seven US ambassadorships are still unfilled, including South Korea, Saudi Arabia and Pakistan. The same applies to key state department vacancies at home. Such is the level of demoralisation that William Burns, the former deputy secretary of state, talks of America’s “unilateral diplomatic disarmament”. US diplomats increasingly lack the resources — and trust — to do the patient work of persuading other countries to fall in with America...Recent examples of America failing to co-opt a single ally include its withdrawal from the Iran nuclear deal, pulling out of the Paris climate change accord and asking others to fill America’s soon to be empty shoes in Syria....many countries, including Britain and Germany, have rejected Mr Trump’s strictures on Huawei........Trump appears to be signalling that US courts are no longer independent of political whim. ....the most teachable aspect of the Boeing 737 controversy is the reality of the global economy. When China and the EU agree to the same regulatory standard, the US has little choice but to fall in line.......Under the Trans-Pacific Partnership, which previous US administrations negotiated, the US and its allies aimed to set the global standards for China. .....By the yardstick of might, the US is still the world’s heavyweight. But it works well only when combined with right. US regulatory leadership on drugs approval, technology, environmental standards and much else besides is falling behind. In spite of the US having the world’s leading technology companies, Europe is setting internet privacy standards.
aviation_safety  airline_safety  Boeing  budget_cuts  Canada  China  cutbacks  Edward_Luce  FAA  fast-changing  institutional_integrity  regulators  regulatory_standards  TPP  unilateralism  Donald_Trump  EU  airline_crashes  teachable_moments 
march 2019 by jerryking
Trump’s beggar-thy-neighbour trade strategy is anything but foolish - The Globe and Mail
CHRISTIAN LEUPRECHT AND ROGER BRADBURY
CONTRIBUTED TO THE GLOBE AND MAIL.

The U.S. administration’s tariffs are actually perfectly rational – from Mr. Trump’s perspective (i.e. his worldview).

The extent of the punitive tariffs Mr. Trump is imposing is unprecedented. They threaten to bring down the system of global trade – Bretton Woods' meticulously calibrated, multilateral system of rules has 164 member-states and comprises tens of thousands of products--by design.

World Trade Organization (WTO) tribunals – which are about to grind to a halt because the United States has not named a judge to the seven-member Appellate Body – were meant to ensure that everyone sticks to the rules....
The President is now intent on destroying co-operation within the WTO by driving wedges between the world’s trading blocs and countries. The United States would be in a much stronger position if it could negotiate with each trade bloc directly. ....Mr. Trump’s recent musings about replacing NAFTA with two separate trade agreements with Canada and Mexico are further evidence to that effect. Canada risks selling out the WTO by making concessions to the United States.

China, too, is negotiating bilaterally with the United States and is already caving to American demands. In the end, the large trading blocs are likely to divide up the world among themselves; countries with little leverage, such as Canada, could become collateral damage......Where once the goal of the United States was to rise to global hegemony, today its goal is to maintain that dominance.

So, that same rules-based system is now causing competitors.... Under these conditions, it is no longer in the interest of the United States to co-operate; as the global political and economic hegemon, the United States can win a strategic competition for wealth and power. Everyone ends up poorer, but the United States remains top dog because everyone else grows poorer faster than the United States. Beggar thy neighbour. Literally.

But being frank will not sit well with Canadians; painting Mr. Trump as a crazy buffoon is more politically expedient. So, along with the EU and China, Canada falls right into Mr. Trump’s bilateral trade-negotiation trap. R.I.P. WTO. Score: Trump 1; Canada 0.
beggar-thy-neighbour  bilateral  Canada  Canadian  China  collateral_damage  crossborder  Donald_Trump  EU  international_system  international_trade  Justin_Trudeau  middle-powers  multilateralism  negotiations  punitive  rules-based  tariffs  WTO  worldviews  mercantilism  zero-sum  NAFTA  Bretton_Woods 
june 2018 by jerryking
Mid-sized powers must unite to preserve the world order
Gideon Rachman

New times call for new thinking.....the world’s middle powers, Germany, France, Japan and Britain, have a dilemma: America and China are increasingly tempted to break free of the constraints of international agreements and to use their power to achieve their goals, unilaterally. Russia lacks the economic might of a great power. But it has the territorial expanse and the nuclear arsenal, and has made a mighty contribution to an atmosphere of growing international lawlessness.

The middle powers cannot flex their muscles like great powers. But they are international players, with global economic and security interests. They need a world with rules. ...What could the middle powers actually do, other than give each other consoling hugs? They should start by noting the similarity of their positions and concerns. For decades, the six middle powers have organised their international positions around two pillars: a strong relationship with the US and membership of a powerful regional grouping, such as the EU, Asia-Pacific Economic Cooperation or the North American Free Trade Agreement.

The Donald Trump era has upended their assumptions. Whatever the Europeans, Australians, Japanese and Canadians say publicly, they are all dismayed by the current direction of the US. The protectionism of the Trump administration is a direct threat to their economic interests. (The US is likely to press ahead with steel tariffs on the EU on June 1.) The US’s current unpredictability and incipient isolationism also poses questions about the robustness of its security guarantees to its allies.

With US leadership increasingly erratic, the middle powers should do more to co-ordinate their positions and lobby on the big global issues: trade, climate change, arms control and peace efforts in the Middle East and Asia.
APEC  co-ordinated_approaches  Donald_Trump  EU  international_system  lawlessness  middle-powers  NAFTA  rules_of_the_game  rules-based 
may 2018 by jerryking
Global Britain or globaloney - Bagehot
Mar 15th 2018 | The Economist | Bagehot.

Mr Tugendhat’s committee worries that “global Britain” cannot be the basis of foreign policy because it is little more than an “advertising slogan”. This columnist thinks the problem goes deeper. Global Britain is three badly thought out ideas rolled into one....
The first is that, thanks to its long history as a trading nation and imperial power, Britain is an irreducibly global country.....The second idea is that being global means embracing emerging markets. Since 2000 these have accounted for more than 60% of the world’s economic growth. The European Union is the economic equivalent of a “legacy system”: locked in the past, overburdened by entitlements and regulations, terrified of the creative destruction at the heart of capitalism. The emerging world, by contrast, is a bubbling cauldron of new opportunities and new consumers. ....The third idea is that “global Britain” means the Anglosphere. This embraces countries around the world that share a common culture because they were once part of the British empire.....The phrase “global Britain” is well intentioned, designed to send a message that Britain is not withdrawing from the world by leaving the EU. It remains open for business, active on the world stage, bouncily cosmopolitan. But Britain needs to do more than remain open for business. It needs to work out ways of engaging without overstretching its abilities and of embracing globalisation without forgetting that it has downsides as well as upsides. Talking globaloney isn’t going to help.
Brexit  delusions  downside_risks  EU  fallacies_follies  globalization  overstretching  slogans  United_Kingdom  upside  world_stage 
april 2018 by jerryking
Europe Is Waving Goodbye to Sugar Cane - Bloomberg
by Agnieszka De Sousa
March 15, 2017, 8:01 PM EDT March 16, 2017,
EU  sugar  history  Caribbean  Caricom  Guyana 
march 2017 by jerryking
For Britain’s ‘Brexit’ Bunch, the Party Just Ended - The New York Times
By PETER S. GOODMANOCT. 7, 2016For those blithely inclined toward the view that Britain would somehow find a way to sever its relationship with the European Union free of drama or financial consequences — like canceling a car rental reservation, with a tad more paperwork — Friday was a sobering day of reckoning.

As the British pound plunged some 6 percent against the American dollar in the span of two minutes in early trading in Asia, the markets offered a reminder that divorce tends to be messy, expensive and laced with uncertainties. It rarely ends happily.
Theresa_May  United_Kingdom  Brexit  EU  financial_markets  breakups  messiness  uncertainty 
october 2016 by jerryking
For Brexit supporters, a cautionary tale from Henry VIII - The Globe and Mail
CARL MORTISHED
LONDON — Special to The Globe and Mail
Published Wednesday, Sep. 28, 2016 3:06PM
Brexit  United_Kingdom  Tudors  EU  history  cautionary_tales 
september 2016 by jerryking
U.K. Can’t Bank on EU’s Rationality in Talks - WSJ
By STEPHEN FIDLER
July 1, 2016

In a rational world, the EU would indeed react to Brexit by seeking the closest economic relationship possible with the U.K., and this may be what happens. But there are other factors suggesting this outcome shouldn’t be taken for granted.

Here are four reasons why:

Anger: The U.K. can’t draw on a wellspring of sympathy from the EU 27, and some leaders are plain angry that in their view the British government has put the EU’s future at risk to resolve a domestic political problem. “Moods are ephemeral,” said Peter Ludlow, a Brussels-based historian and analyst, before the vote. “But it will affect both the tone and the content of the earliest exchanges between the two parties.”

Mercantilism: an outdated philosophy that equates national prosperity with exports, still hold broad sway with the public and with politicians throughout Europe and farther afield. EU governments, not least in Paris, are salivating at the prospect of benefiting from the U.K.’s exclusion from the single market in services.

Asymmetry: Yes, the U.K. is important to Germany, but the EU as a whole is more important to Britain than vice versa.

Strategy: Germany and other EU governments don't want to 'reward' the UK with a special deal that tempts other countries to follow it toward exit.
Brexit  United_Kingdom  Germany  rationalism  negotiations  strategy  EU  anger  asymmetrical 
july 2016 by jerryking
You Break It, You Own It - The New York Times
Thomas L. Friedman JUNE 29, 2016

It’s the story of our time: the pace of change in technology, globalization and climate have started to outrun the ability of our political systems to build the social, educational, community, workplace and political innovations needed for some citizens to keep up.

We have globalized trade and manufacturing, and we have introduced robots and artificial intelligence systems, far faster than we have designed the social safety nets, trade surge protectors and educational advancement options that would allow people caught in this transition to have the time, space and tools to thrive. It’s left a lot of people dizzy and dislocated.

At the same time, we have opened borders deliberately — or experienced the influx of illegal migration from failing states at an unprecedented scale — and this too has left some people feeling culturally unanchored, that they are losing their “home” in the deepest sense of that word.
Tom_Friedman  EU  Brexit  social_integration  United_Kingdom  safety_nets  circuit_breakers  social_fabric  institutions  automation  artificial_intelligence  unemployment  illegal_migration  dislocations  open_borders 
june 2016 by jerryking
Europe should forget Google and investigate its own shortcomings — FT.com
APRIL 22, 2016 | FT | by Michael Moritz

There’s nothing new about this strain of anti-Americanism running rampant in Brussels. Some of its intellectual roots stretch back 50 years to Jean-Jacques Servan-Schreiber, the French publisher and journalist, who tried to galvanise Europeans into countering the threat from across the Atlantic with the publication, in 1967, of The American Challenge. Its echoes can be heard in this week’s press conferences in Brussels. Forget the fact that American ingenuity and daring has brought to hundreds of millions of Europeans phones cheaper and more powerful than the supercomputers of the 1970s, thousands of films and TV shows that can be streamed at the touch of a button, free text-messaging services, books that are delivered overnight and thousands of comfortable cars that can be summoned at a moment’s notice.

Rather than pointing across the Atlantic and seeking scapegoats, the Commissioners who have just launched another fusillade against one of their favourite American bogeymen may want to start a series of investigations into Europe’s own shortcomings. This may be a more fruitful exercise than reigniting the spent flames of the 1960s.
1967  Michael_Moritz  Google  Facebook  Silicon_Valley  anti-Americanism  monopolies  Europe  EU  shortcomings  Sequoia  ingenuity  daring 
may 2016 by jerryking
UK’s former spy chiefs say Britain more secure inside Eurpean Union - The Globe and Mail
The Associated Press
Published Sunday, May 08, 2016 1:37PM EDT
Last updated Sunday, May 08, 2016
Brexit  MI6  MI5  United_Kingdom  EU  security_&_intelligence  spymasters 
may 2016 by jerryking
Britain resigns as a world power
May 21, 2015 |The Washington Post | Fareed Zakaria
"I was struck by just how parochial it has become. After an extraordinary 300-year run, Britain has essentially resigned as a global power.

Over the next few years, Britain’s army will shrink to about 80,000."... Why does this matter? Because on almost all global issues, Britain has a voice that is intelligent, engaged and forward-looking. It wants to strengthen and uphold today’s international system — one based on the free flow of ideas, goods and services around the world, one that promotes individual rights and the rule of law.

This is not an accident. Britain essentially created the world we live in. In his excellent book “God and Gold,” Walter Russell Mead points out that in the 16th century many countries were poised to advance economically and politically — Northern Italy’s city-states, the Hanseatic League, the Low Countries, France, Spain. But Britain managed to edge out the others, becoming the first great industrial economy and the modern world’s first superpower. It colonized and shaped countries and cultures from Australia to India to Africa to the Western Hemisphere, including of course, its settlements in North America. Had Spain or Germany become the world’s leading power, things would look very different today.
BBC  books  cosmopolitan  cost-cutting  cutbacks  David_Cameron  drawdowns  EU  Fareed_Zakaria  foreign_policy  forward_looking  geopolitics  globalization  industrial_economy  international_relations  international_system  internationalism  leadership  London  middle-powers  parochialism  punch-above-its-weight  retreats  rule_of_law  superpowers  United_Kingdom  Walter_Russell_Mead 
may 2015 by jerryking
Gazprom to Ukraine: Pay up or else
Apr. 11 2014 | - The Globe and Mail | CARL MORTISHED.
Ukraine  Gazprom  Europe  Vladimir_Putin  natural_gas  pipelines  EU 
april 2014 by jerryking
Finns Pitch Frightful Weather as a Competitive Advantage - NYTimes.com
November 15, 2013, 9:02 am 8 Comments
Finns Pitch Frightful Weather as a Competitive Advantage
By MARK SCOTT

In Europe’s crowded technology scene, cities are eager to differentiate themselves from local rivals.

London has its connections with global finance. Berlin has a thriving local arts and music community. And Helsinki has its wintry weather....“Weather is a competitive advantage for us,” said Christian Lindholm, a local entrepreneur, who – like many in Finland’s tech community – spent several years working at Nokia. “Too much good weather would be bad for us.”

The Finnish tech industry is going through a reboot as focus shifts from struggling Nokia, which is selling its cellphone division to Microsoft for $7.2 billion, to some of the country’s smaller companies.

The most recent success is Supercell, the local online gaming company...tech firms are also benefiting from the investment flowing into companies based in and around Helsinki. With a lack of Finnish early-stage investors to back start-ups, much of the funding still comes through government support, including from Tekes, the country’s technology and innovation agency, and other state-backed venture funds.

The government money varies from one-off grants for research and development at universities to six-figure investments aimed at boosting start-ups efforts to market their products in international markets.
cities  competitive_advantage  differentiation  Europe  EU  Finland  Finnish  games  healthcare  Helsinki  mobile_applications  Nokia  start_ups  state-as-facilitator  weather  winter 
november 2013 by jerryking
Tech drives nails into coffins of Europe’s weak economies
Nov. 30 2012 | The Globe and Mail | by ERIC REGULY.

Technology is having a devastating effect on employment, which in itself is not new. What is new is that the job destruction everywhere among low-skilled workers seems on the verge of being repeated among white-collar jobs. That is the theory of Erik Brynjolfsson and Andrew McAfee, digital economy specialists at MIT and authors of Race Against the Machine, a book about the digital revolution and how it is reshaping employment and entire economies.

Technology has been displacing jobs since the Industrial Revolution, but the lost jobs were more or less replaced with new jobs
Eric_Reguly  Europe  EU  debt  Erik_Brynjolfsson  technological_change  Andrew_McAfee  digital_economy  MIT  Greece  technology  job_destruction  job_displacement  automation  white-collar  low-skilled  weak_economy  digital_revolution 
december 2012 by jerryking
High-priced crude may ignite shares of palm-oil producers - WSJ.com
October 20, 2005 | WSJ | By CRIS PRYSTAY | Staff Reporter of THE WALL STREET JOURNAL

High-priced crude may ignite shares of palm-oil producers
palm_oil  biofuels  plantations  Malaysia  EU  Indonesia 
december 2012 by jerryking
Google carrying real-time data from EU exchanges
Associated Press | Posted: Tuesday, February 21, 2012

Google's real-time stock quotes are a potential threat to financial information providers such the Thomson Reuters Corp. and Bloomberg L.P., which earn revenue through the provision of up-to-second market data to traders and analysts. Units of Reuters and Bloomberg compete with The Associated Press.

In an email, Google said it was trying to "provide consumers with the best information as quickly as possible."
data  competingonanalytics  stockmarkets  EU  Thomson_Reuters  Bloomberg  Google  disruption  information  information_flows  real-time  financial_data 
february 2012 by jerryking
The European Union rescues Greece and Portugal
May 24, 2010 | The New Yorker | by James Surowiecki. "...The
fact is, this kind of volatility isn’t going away, because we now live
in an environment dominated by what economists call “political risk”—the
uncertainty that businesses face as a result of government actions. Of
course, government actions always affect the economy, but usually in an
undramatic way: an interest-rate cut here, a new regulation there. The
economic downturn and the debt crisis have given us instead a world
where governments are among the most important players in
markets—injecting money into economies on a colossal scale and routinely
propping up, or even nationalizing, troubled companies."
Angela_Merkel  bailouts  central_banks  debt_crisis  economic_downturn  EU  Germany  geopolitical-risk  Greece  IMF  instability  James_Surowiecki  political_risk  Portugal  sovereign-risk  uncertainty  volatility 
may 2010 by jerryking

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