Category: Economics

The W: A Weekly Reading List

In this week’s edition…how to measure what your boss really makes…why women in tech are finally speaking out…dreaming of prime numbers…why we haven’t found aliens – yet…the death of cash in China…and more. Have a great weekend!   Business & Economics Monetary Policy in Japan Has a New Problem: Amazon Japan isn’t alone in its

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Bloomberg: “Why Aren’t American Teenagers Working Anymore?”

Good piece on Bloomberg about why teenagers in the U.S. are working fewer summer jobs. Some excerpts: For Baby Boomers and Generation X, the summer job was a rite of passage. Today’s teenagers have other priorities. Teens are likeliest to be working in July, according to data from the Bureau of Labor Statistics that’s not seasonally

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Are We Running Out of Innovation?

I come across a lot of interesting writing in my work, but I have to note that one of the most thought-provoking scholarly pieces I have read recently is the working paper published earlier this year by Nicholas Bloom, Charles I. Jones, Michael Webb (all Stanford) and John Van Reenen (MIT). Their paper is entitled, Are Ideas Getting Harder to Find?, and both the question they pose

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The “Big Government” Workforce Is Not What We Think It Is

One of the major recurring themes in American society for the past few decades has been that “the federal government is too big” and that we need to “shrink the number of bureaucrats” in America. While endless words have been written along such lines, it’s rare that someone actually takes the time to sort through the facts of what is,

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PS: Trump’s Anachronistic Trade Strategy

In case you missed it, there is a good post on Project Syndicate by Richard Baldwin on the Trump team’s misreading of the unemployment problem. An excerpt: Trump and his team are missing a simple point: twenty-first-century globalization is knowledge-led, not trade-led. Radically reduced communication costs have enabled US firms to move production to lower-wage countries.

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Quartz: A Clothing Designer Explains the Cost of Clothes

In case you missed it, Quartz had a good piece on the garment cost structure of U.S.. fashion label Elizabeth Suzann. It’s well worth a read to understand the elements of the garment value chain. Some excerpts: Pape’s story offers a justification of her company’s pricing, of course, and not every business making expensive clothes operates like

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Must Read: “The Future of the Professions”

In 1540 a legendary union took place in England, in which the Guild of Surgeons agreed to merge with the Guild of Barbers to form the Company of Barbers and Surgeons and so give birth to the first professional association in the West. Since that moment, it has been commonplace for “professionals” to try to find each other and

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The Great De-Equitization Is On, But Is That A Good Thing?

Among all the talk of globalization and trade tariffs, a seismic shift in capitalism is taking place without, it seems, much public debate. Little by little, the idea that public companies, and wide-spread individual stock ownership, are a necessary and vital part of a capitalist system is dying a slow and quiet death. As a Wall Street Journal  recently noted:

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