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
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
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
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,
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.
Good article on WSJ on the challenges the new President may find in taming government regulations. An excerpt: Mr. Trump’s order could provide a powerful prod to agencies to look for old, costly rules since, if they can’t find any, they may be unable to issue new rules. Even so, laws and courts can still demand that rules be
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
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
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:
In case you missed it, Babson professor Thomas Davenport (author of Only Humans Need Apply, which I reviewed here), has a good piece on Trump lack of focus on automation in HBR. Excerpt: To be fair, it’s not just Trump who finds this a difficult enemy to battle; other politicians don’t engage with it much either.