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jerryking : policy   36

Central banks worldwide need more tools to co-ordinate policy -
Dec. 24, 2016 | The Globe and Mail | JAMES DEAN Special to The Globe and Mail

Modern central bankers worry about unemployment, income inequality, growth, inflation housing and asset bubbles, household debt, and fear of financial instability. Typically, central banks have had to rely on a single tool, their ability to raise or lower short-term interest rates. But is is an an axiom of policy making that for each additional goal, an additional instrument is necessary. Central banks worldwide agonize about their frustration with trying to target a plethora of goals.... With but a single instrument, they cannot simultaneously pursue the multiplicity of goals that today’s electorate expects of them....The answer is either to give central bankers more tools, or to co-ordinate their policy choices with those of other agencies.

For example, an ability to dictate both down payments on housing mortgages and margin requirements on borrowing to buy financial assets; setting reserve and capital requirements on banks; adjusted the lending mix of commercial bank portfolios, with preferences for export industries, or infrastructure like highways, airports and ports. Or for agriculture or labour-intensive industry or high-tech industry....The room for this kind of expanded mandate for central banks is relatively wide in some countries but very limited in others, the United States in particular.
central_banks  tools  interest_rates  Bank_of_Canada  U.S._Federal_Reserve  policy  coordination  policy_tools 
december 2016 by jerryking
Canada must fill three gaps to reach its high-growth future - The Globe and Mail
VICTOR DODIG
Contributed to The Globe and Mail
Published Friday, Nov. 27, 2015

While Canada is roundly – and rightly – envied for its solid economy and how it withstood the financial crisis, we have three gaps to fill if we are going to continue to prosper and be leaders among the advanced economies.

First, I believe we need to do a better job of building the intellectual capital and skills necessary to fuel innovation and execute in a modern economy.

Second, we need to ensure our innovative entrepreneurs are able to attract both the formation and sustainability capital necessary to commercialize new ideas into valuable products and services.

Third, we need to ensure that we build an innovative ecosystem that effectively encourages and nurtures that development......Actually, some troubling issues lie behind those positive numbers:

* We have a much lower proportion of graduates in the all-important STEM sectors – science, technology, engineering and mathematics – than 22 other OECD countries.
* Only about 20 per cent of our graduates are from those disciplines.
* Postsecondary graduates rank 19th of 21 in numeracy, 18th of 21 in literacy and 14th of 18 in problem-solving skills.

We’re talking about the very people and very skills we need to need to lead Canada in innovation and create the high-value jobs for the future.

In effect, a postsecondary education is simply not enough in today’s modern economy. Our students, by and large, are choosing an educational path geared toward acquiring credentials rather than skills acquisition and what the labour market needs.

So, what do we need to do?....
(1) promote education choices that match the needs of the job market.
(2) promote policies and models to support emerging industries that focus on creating solutions in the global supply chain as opposed to just building products.

Canadians are no strangers to discovery and innovation, but today’s innovation ecosystem is highly complex. Far too many Canadian high-tech startups get bought out before they have a chance to grow. They often sell out before attaining their true potential.

When small and mid-sized startups are sold, the country is weaker for it.

Why? Because the really smart innovators never stop. After a successful sale, many are back the next day looking for the next opportunity and dreaming of the next big discovery. And retaining highly paid head-office jobs in Canada rather than seeing them farmed out elsewhere will help spread those benefits to the broader economy.
Canada  Canadian  future  CIBC  CEOs  high-growth  innovation  innovation_policies  policy  labour_markets  start_ups  sellout_culture  STEM  intellectual_capital  think_threes  smart_people  overambitious  policymaking  head_offices  ecosystems  digital_economy  Victor_Dodig 
may 2016 by jerryking
One Firm Getting What It Wants in Washington: BlackRock - WSJ
By RYAN TRACY and SARAH KROUSE
Updated April 20, 2016

The Problem: BlackRock believed that the U.S. Federal Reserve was leaning towards designating it as a source of financial system risk, like other big banks, and as such, be “too big to fail”.

What Was At Stake: the designation “systemically important” would draw BlackRock in for greater oversight by the Federal Reserve which would mean tougher rules and potentially higher capital requirements from U.S. regulators.

The Solution: BlackRock didn't take any chances. The company began spending heavily on lobbying and engaging policymakers. Executives at the firm began preparing for greater federal scrutiny of their business in the months following the 2008 financial crisis. BlackRock aggressively prepared a counter-narrative upon discovered a Treasury Department’s Office of Financial Research report that asset-management firms and the funds they run were “vulnerable to shocks” and may engage in “herding” behavior that could amplify a shock to the financial system. The response took the form of a 40-plus-page paper rebutting the report. The firm suggested that instead of focusing on the size of a manager or fund, regulators should look at what specific practices, such as the use of leverage, might be the source of risks. While other money managers such as Fidelity and Vanguard sought to evade being labeled systemically important, BlackRock’s strategy stood out.
BlackRock  crony_capitalism  Washington_D.C.  risks  lobbying  too_big_to_fail  asset_management  advocacy  government_relations  influence  political_advocacy  policy  U.S._Federal_Reserve  systemic_risks  Communicating_&_Connecting  U.S.Treasury_Department  counternarratives  oversight  financial_system  leverage  debt  creating_valuable_content  think_differently  policymakers  policymaking 
april 2016 by jerryking
We pay a high economic price for a society of exclusion - The Globe and Mail
Apr. 08, 2016 |The Globe and Mail | TODD HIRSCH.

If citizens are excluded from meaningful involvement in their economic systems, policy solutions (e.g. A tax cut here, an infrastructure program there) none of it matters.....Donald Trump has tapped into a vein of discontent that isn’t going away, whether he wins the White House or not. Those disenfranchised from mainstream politics are connecting with Mr. Trump’s childish messages.....The common thread in protest movements like Occupy Wall Street and Idle No More is that people who are excluded from the mainstream economic and political systems that run a country are disconnected and their disconnection erodes the social and political stability-- the basic building blocks on which successful economies are built. ... If people lose faith in governments, if they become so hopeless about finding a way to achieve and succeed in the system, the system itself will start to collapse.

And following that will be an outflow of capital investment, entrepreneurial energy and intellectual might. Money, businesses and educated people – if they start pouring out, the economy doesn’t stand a chance.
aboriginals  capital_flows  civil_disobedience  covenants  disenfranchisement  disadvantages  Donald_Trump  economists  exclusion  policy  social_fabric  Idle_No_More  marginalization  social_cohesion  social_collaboration  patriotism  instability  Occupy_Wall_Street  talent_flows  hopelessness  protest_movements  social_integration  Todd_Hirsch 
april 2016 by jerryking
Ms. Wynne: Painting wasteful policies with a green brush won’t fool Ontarians - The Globe and Mail
CHRISTINE VAN GEYN
Contributed to The Globe and Mail
Published Monday, Dec. 21, 2015

The cap-and-trade system for reducing emissions of greenhouse gases is a revenue plan couched in green language. It is a complex scheme that involves the government creating financial products called “carbon credits” that it then forces industries to buy and trade. Of course it requires the establishment of an enormous bureaucracy. The plan is projected to raise $2-billion in revenue for the government each year.
Ontario  Liberals  green  Kathleen_Wynne  cap-and-trade  environment  politics  policy  green_washing  carbon_credits 
december 2015 by jerryking
Think tanks need to show us the money - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Monday, Feb. 09 2015

Like Brookings, almost of all of Canada’s leading think tanks claim to be independent and non-partisan. But while none – not even the Broadbent Institute – is directly affiliated with a political party, it’s not hard to discern an identifiable political agenda in the research they produce. American think tanks, says former think-tank founder David Callahan, “often operate as the motherships of ideological movements – weaving together a jumble of values and ideas into a coherent story and actionable agenda.” You could easily say the same of most of their Canadian counterparts.
Konrad_Yakabuski  think_tanks  lobbying  Brookings  institution-building  networks  institutions  political_infrastructure  transparency  political_advocacy  policy_analysis  policy  conflicts_of_interest  policymaking 
february 2015 by jerryking
In the push to get back to black, don’t ignore the economy - The Globe and Mail
Jan. 19 2015 | The Globe and Mail | KONRAD YAKABUSKI.

Rather than worrying about whether Ottawa will be slightly in the red or slightly in the black over the next few years, the questions Canadians should be asking are the following: Is a smaller federal government good for the country if it means reduced services and the gutting of federal institutions? And do the Tories have an economic action plan that does not rely on a global commodities supercycle to underwrite growth?
cutbacks  Konrad_Yakabuski  Jim_Flaherty  Ottawa  public_sector  policy  budgets  Joe_Oliver  commodities_supercycle  austerity 
january 2015 by jerryking
How Big Data Is Changing Food Consumption
March 7, 2013 | | SmartData Collective

big data food consumptionby Ana Andreescu from GoodData
massive_data_sets  mobile_applications  policy  food  Waudware  OPMA  fresh_produce 
december 2013 by jerryking
Subways for riders, not voters - The Globe and Mail
The Globe and Mail

Published Tuesday, Oct. 29 2013,

To govern is to choose, and to choose poorly is to govern badly. A public dollar spent in one place means a dollar less to spend anywhere else. Money squandered over here spells belt-tightening over there. Welcome, friends, to the saga of Toronto public transit....Some of the transit problems have to do with a simple lack of public spending on transit. But a lot of what’s ailing the GTA is about what’s been done within the budget envelope. There have been so many completely wrongheaded spending decisions. And they’ve been motivated by transit politics, not transit economics....

In the 1970s, a subway was driven up the centre of the low-density Allen Expressway. A few years later, provincial industrial policy foisted an overpriced, rickety, made-in-Ontario technology onto the Scarborough Rapid Transit line. The nineties brought the Sheppard subway; transit in the centre of Toronto groans from an excess of demand, in part because so many precious public dollars were sunk into a subway whose ridership is lower than the busiest downtown streetcar route. Governments – municipal, provincial and even federal – time and again pushed for big-ticket projects that impress a desired group of voters far more than they serve real transit users.
editorials  Toronto  politics  transit  policy  misrule  mismanagement  decision_making  Octothorpe_Software  public_transit  public_spending  budgets  budgeting  choices  transit_politics  transit_economics 
october 2013 by jerryking
The Limits of Intelligence - WSJ.com
December 10, 2007 | WSJ | By PETER HOEKSTRA and JANE HARMAN.

On one of our several trips together to Iraq, a senior intelligence official told us how she wrote her assessments -- on one page, with three sections: what we know, what we don't know, and what we think it means.

Sound simple? Actually, it's very hard....The information we receive from the intelligence community is but one piece of the puzzle in a rapidly changing world. It is not a substitute for policy, and the challenge for policy makers is to use good intelligence wisely to fashion good policy.

In fact, the new NIE on Iran comes closest to the three-part model our intelligence community strives for: It carefully describes sources and the analysts' assessment of their reliability, what gaps remain in their understanding of Iran's intentions and capabilities, and how confident they are of their conclusions....Nevertheless, Congress must engage in vigorous oversight -- to challenge those who do intelligence work, and to make site visits to see for ourselves.

Intelligence is an investment -- in people and technology. It requires sustained focus, funding and leadership. It also requires agency heads that prioritize their constitutional duty to keep the intelligence committees informed. Good intelligence will not guarantee good policy, but it can spare us some huge policy mistakes.
security_&_intelligence  critical_thinking  Iran  memoranda  policy  sense-making  unknowns  interpretation  interpretative  information_gaps  oversight  rapid_change  think_threes  assessments_&_evaluations  policymakers  policymaking  intelligence_analysts 
june 2012 by jerryking
The Hazards of Throwing Money at the Problem - WSJ.com
JULY 18, 2001

By BRUCE BARTLETT
"The Elusive Quest for Growth" (MIT, 342 pages, $29.95) by the economist William Easterly.....Easterly works at the World Bank. But his real concern is not with his employer or with the International Monetary Fund, although he is critical of both institutions. Rather, he wants to address the whole question of economic growth: Where does it come from? What encourages it? What discourages it? How important is luck? How important is policy? The answers he gives, in certain respects, apply as much to advanced economies like the U.S., Germany and Japan as to the developing nations of Africa and Asia....
Simply giving capital to those without it -- i.e., foreign aid -- is unlikely to stimulate growth. What is really essential is knowledge, and that cannot be transmitted by writing a check. Nor can it be gained just by sending people to school. In fact, critical knowledge, the kind those Bangladeshi textile workers seized upon, is not easily identifiable in the abstract. First entrepreneurs must perceive an opportunity for profit; then a few opportunistic people will see what knowledge is required. And then more will.

Without a proper understanding of such things, a good deal of damage can be done.
World_Bank  foreign_aid  book_reviews  entrepreneurship  IMF  policy  William_Easterly 
november 2011 by jerryking
Ten ways to help companies travel on a dime - The Globe and Mail
sherry saunders
Special to Globe and Mail Update
Published Monday, Oct. 10, 2011
Establish a travel policy. Formalize a process that your employees can follow when travelling. Your organization should have an annual assessment to include all elements of your travel program – air, car, hotel, parking, expense management, online booking, mobility, credit card, safety and security. It is also important to have an effective incident process in place in the event of a crisis in order to track travellers quickly, establish contact and provide assistance, such as re-booking, emergency re-routing, etc.
travel  purchasing  policy  small_business  formalization  rule-writing 
october 2011 by jerryking
Charles Schwab: Every Job Requires an Entrepreneur - WSJ.com
SEPTEMBER 28, 2011 | WSJ | By CHARLES R. SCHWAB. Every Job Requires an Entrepreneur
Someone took risks to start every business—whether Ford, Google or your local dry cleaner.

What's the potential power of the entrepreneur's simple leap of faith? The success of a single business has a significant payoff for the economy. Looking back over the 25 years since our company went public, Schwab has collectively generated $68 billion in revenue and $11 billion in earnings. We've paid $28 billion in compensation and benefits, created more than 50,000 jobs, and paid more than $6 billion in aggregate taxes. In addition to the current value of our company, we've returned billions of dollars in the form of dividends and stock buybacks to shareholders, including unions, pension funds and mom-and-pop investors.

The wealth created for our shareholders—a great many of them average Schwab employees—has been used to reinvest in existing and new businesses and has funded a myriad of philanthropic activities. We've also spent billions buying services and products from other companies in a diverse set of industries, from technology to communications to real estate to professional services, thereby helping our suppliers create businesses and jobs.
entrepreneurship  risk-taking  editorials  entrepreneur  government  policy  regulation  job_creation  Charles_Schwab  large_payoffs  mom-and-pop  leaps_of_faith  wealth_creation 
september 2011 by jerryking
Hispanic Families, Isolated and Broke - NYTimes.com
By DOUGLAS S. MASSEY
August 4, 2011

ACCORDING to a new study by the Pew Research Center, Hispanic families
saw the largest decline in wealth of any racial or ethnic group in the
country during the latter half of the last decade: from 2005 to 2009,
their median wealth fell by an astounding 66 %. The reason? The
implosion of the housing market, where Hispanic families had invested
much of their wealth....Yet subprime lending affected both blacks and
Hispanics and, if anything, predatory lenders went after the former more
than the latter. So why did Hispanics suffer more?

The answer is simple: over time more and more Hispanics had become
economically vulnerable and eminently exploitable, a fact attributable
in large part to American immigration policy.
Hispanic_Americans  immigration  policy  subprime  decline  generational_wealth 
august 2011 by jerryking
Unboxed - Governments Embracing a Role in Innovation - NYTimes.com
June 20, 2009 | NYT | By STEVE LOHR. Innovation policy, to
be sure, is an emerging discipline, lacking crisp definitions or
metrics. What is the appropriate government role in creating industries
and jobs in today’s high-technology, global economy?...John Kao, a
former professor at HBS and founder of the Institute for Large Scale
Innovation....innovation policy is an attempt to bring some coordination
to often disparate government initiatives in scientific research,
education, business incentives, immigration and even intellectual
property....governments are increasingly wading into the innovation
game, declaring innovation agendas and appointing senior innovation
officials. The impetus comes from two fronts: daunting challenges in
fields like energy, the environment and health care that require
collaboration between the public and private sectors; and shortcomings
of traditional economic development and industrial policies.
innovation  large_companies  Finland  government  John_Kao  industrial_policies  shortcomings  scaling  policy  state-as-facilitator  global_economy  policymaking  innovation_policies 
december 2010 by jerryking
Lamar Alexander: An Energy Strategy for Grown-Ups - WSJ.com
JUNE 11, 2010 | Wall Street Journal | By LAMAR ALEXANDER
energy  policy  strategy 
june 2010 by jerryking
Open Canada to the world’s new ways
June 9, 2010 | The Globe and Mail | by Edward Greenspon. "As
Canada moves down the ranks, from the world’s seventh-largest economy to
10th and lower, it must navigate the rise of Asia, the relative decline
of the U.S. and the sudden creation of a new multilateralism, among
other game-changers. How do we play this once-in-a-century period of
global disruption?
The Canadian International Council asked a panel of Canadians, a
post-Cold War digital generation largely in its 30s and 40s, to come up
with a new blueprint. Our report, Open Canada: A Global Positioning
Strategy for a Networked Age, offers bold and original policies and
strategies within the realm of the possible. " We call our report Open
Canada because we think we can prosper by being the most open country in
the world: open to ideas and investment; open to newcomers and new
ways; open to partnerships and networks at home and abroad; open to
competition and the uncompromising pursuit of excellence.
borderless  policy  Canada  Canadian  foreign_policy  Edward_Greenspon  openness  decline  America_in_Decline?  one-time_events  blueprints  game_changers  multilateralism 
june 2010 by jerryking
Designs on Policy
July 19, 2009 | Allison Arieff Blog - NYTimes.com | Allison Arieff
design  policy  inspiration  ideas  public_policy 
july 2009 by jerryking
America’s Secret Innovation Weapon - Immigration - NYTimes.com
July 4, 2009 | New York Times | By MIKE SPEISER. Argues that
it is time for a more strategic and aggressive U.S. immigration policy,
one that targets the best and brightest around the globe and makes it
easy for them to become permanent residents. The U.S. should be
recruiting the world’s best talent the same way top companies recruit
the best talent.
immigration  policy  innovation  strategic  talent_management  immigrants  special_sauce  the_best_and_brightest 
july 2009 by jerryking
Former Florida Governor Jeb Bush on Immigration, School Choice and the Republican Party's Limited-Government Foundation - WSJ.com
FEBRUARY 13, 2009, WSJ op-ed by Jeb Bush in which he lays out
an agenda for the GOP to regain relevance. Hint: work outside Washington
DC.
politics  education  policy  inspiration  Bush  GOP  reform  revitalization 
february 2009 by jerryking
Summers Crafts Broad Role in Reshaping Economy - WSJ.com
FEBRUARY 7, 2009 WSJ article By MONICA LANGLEY profiling Larry
Summers' settling into, and shaping, his new role as chief White House
economic adviser.
policy  economics  profile  Larry_Summers  policymakers  policymaking 
february 2009 by jerryking
A Looming American Diaspora
February 2009 HBR article by Paul Saffo. While U.S. companies
are worrying about how to recruit talent from abroad in the face of
increasingly stringent immigration rules, a different and far more
significant challenge is quietly building. When young knowledge workers
look for a job today, they seriously consider companies half a world
away. Homegrown American talent is moving abroad, in what could become a
huge shift in the world economic order.
American  Diaspora  emigration  expatriates  globalization  knowledge_workers  policy  protectionism 
february 2009 by jerryking
Green Diplomacy - WSJ.com
March 24, 2008 WSJ article by Joel Sherwood profiling U.S.
Ambassador to Sweden, Michael Wood, and his role assisting Swedish alt.
energy companies raise cash in the US.
alternative_energy  diplomacy  green  policy  environment  indispensable 
february 2009 by jerryking
Smaller, Smarter - WSJ.com
Feb. 11, 2008 WSJ article by Guy Chazan on product ideas that
supply light and power to remote areas of less developed countries
(LDCs). Some of the power-generation approaches are "off-grid".
off-grid  LDCs  energy  policy  UNDP  alternative_energy  3rdWorld  ideas  power_generation  size  developing_countries 
february 2009 by jerryking
The Green Machine Hal Harvey spends his environmental war chest with one guiding principle: winning
FEBRUARY 12, 2007 WSJ article by JEFFREY BALL. Global warming
is tougher than localized environmental threats such as smog. That, Hal
Harvey argues, requires environmentalists to focus less on fiery
rhetoric and more on hashing out economically efficient policies that
have political legs. In doling out the dollars at his disposal, Mr.
Harvey uses much the same strategy as the other venture capitalists in
Silicon Valley. He invests where he thinks he'll get maximum return. In
his parlance, he looks for the political "pinch points" likely to
promote technologies that will deliver the most "tons of carbon avoided
per philanthropic dollar invested." He and his colleagues try to compute
that using spreadsheets.
green  environment  philanthropy  lobbying  policy  strategy  UFSC  financial_literacy  pain_points  bottlenecks  leverage  return_on_effort  investors  climate_change 
february 2009 by jerryking

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