Economics

Nobody Knows Nothing in Corporate America

8009843527_92ed4a3f3a_z.jpg

If you want to understand why a lot of America’s youth embrace socialism today, just look at this small but revealing story about General Electric. Former CEO Jeff Immelt apparently didn’t just fly around the world in a corporate jet, a fairly standard practice, he had an empty spare corporate jet follow him around just in case anything happened to the jet he was actually using.  read more »

Subjects:

Notes from the Wharton Africa Business Forum

Nairobi_economic_capital_of_africa.jpg

The Wharton Africa Business Forum took place in Philadelphia on November 3-5, 2017. Present were the Finance Minister of Nigeria, the CEO of Ethiopian Airlines and other business leaders (notably from lead sponsors McKinsey & Company and the Boston Consulting Group) and educators. The event was attended by hundreds of participants including Wharton faculty, students and alumni, African investors and entrepreneurs, members of the African diaspora and many others who have an interest in Africa.  read more »

Robert Iger For President? To Many Democrats, The Mouse May Look Like A Louse

512px-BobIgerJun10.jpg

Few global companies enjoy as much public good will as the Walt Disney Company. The entertainment giant regularly ranks highly on lists of the most admired or trusted companies, including ones from Forbes and Fortune.  read more »

Journalism Disrupted Again as DNAInfo, Gothamist Shuttered

dna-info-logo.png

Owner Joe Ricketts shuttered unprofitable local news sites DNAInfo and Gothamist yesterday. Observers link this closure to a vote last week by New York employees to unionize.

This is an example of the disruption of the local media ecosystem. Technology allowed sites like DNA and Gothamist to exist in the first place, but local news has proven resistant to sufficient monetization to create profitability in most cases.  read more »

Blockchain - A Capitalist Revolution for the Internet

512px-Blockchain.jpg

Blockchain, i.e. digitized and decentralized public ledgers of cryptocurrency1 or digital asset transactions, might emerge as the tool to liberate the Internet from the domination of the tech oligarchy. In some senses, we can envision through historical analogy how Blockchain can change the very economic system of the Internet itself, much similar to the processes in the offline world that ended the Middle Ages and laid the foundations for the birth of Capitalism.  read more »

Subjects:

Economic Nationalism and the Half-Life of Deindustrialization

black-monday-youngstown-13.jpg

In a 60 Minutes interview in September, Steven Bannon touted his form of economic nationalism and suggested that Democrats like Senator Sherrod Brown and U.S Representative Tim Ryan understood his economic vision, even if they didn’t agree with him. It was fitting that he name-checked Brown and Ryan, as both come from Northeast Ohio, where the history of deindustrialization began 40 years ago this fall.  read more »

Subjects:

RBC Report Highlights Increasing Housing Affordability Challenges in Canada

Toronto.jpg

Households could face even greater housing affordability challenges in the years to come, according to the September 2017 RBC Economics (RBC) Housing Trends and Affordability report.  read more »

Chicago's Story Of Population Loss Is Becoming An Exclusive About Black Population Loss

chicago.jpg

Population estimates released last week by the U.S. Census Bureau show that Chicago’s population has declined for the third year in row.

According to the latest estimates, Chicago’s population fell by about 350 in 2014, by just under 5,000 in 2015 and by more than 8,600 in 2016. Among the nation’s 50 largest cities, Chicago is the only city to lose population each year since 2013 and for those population losses to worsen each time.  read more »

Is There A Civilization War Going On?

512px-Hénin-Beaumont_-_Marine_Le_Pen_au_Parlement_des_Invisibles_le_dimanche_15_avril_2012_(M).JPG

“Civilizations die from suicide, not by murder.” — Arnold J. Toynbee

From the heart of Europe to North America, nativism, sometimes tinged by white nationalist extremism, is on the rise. In recent elections, parties identified, sometimes correctly, as alt-right have made serious gains in Germany, Austria and the Czech Republic, pushing even centrist parties in their direction. The election of Donald Trump can also be part of this movement.  read more »

Highest Cost Rental Markets: Even Worse for Buyers

IMG_9183.JPG

There is considerable concern about rising rents, especially in the most expensive US housing markets. Yet as tough as rising rents are, the high rent markets are also plagued by even higher house costs relative to the rest of the nation. As a result, progressing from renting to buying is all the more difficult in these areas.  read more »