Globalisation as we know it will not survive Trump. And that’s a good thing | Larry Elliott. The significance of the trade war between China and the US goes well beyond the impact of tit-for-tat tariffs, or which of two self-styled strongmen wins the bragging rights. As was the case in the 1930s, the seemingly inexorable drift towards protectionism is part of a deeper crisis of the international status quo. When Beijing this week accused the US of “deliberately destroying the international order”, it was really saying that US hegemony will no longer go unchallenged.
Globalisation as we have known it is coming to an end and that’s by no means unwelcome. Hailed as the ultimate in human progress, a model based on loosening the controls on capital and the construction of global supply chains has spawned recurrent financial crises, fostered corrosive inequality and worsened the climate emergency. True, millions of people have been lifted out of poverty in the past 25 years, but most of them live in a country – China – that has kept the market at arm’s-length.
Refashioning clothing’s environmental impact. July 25, 2019Our clothes provide comfort, protection, an expression of individuality, and jobs, with more than 300 million people working along the clothing industry value chain. But for all the growth it generates, the industry also encourages considerable waste: More than half of fast fashion is disposed of in under a year, according to estimates. This ‘take, make, and dispose’ business model has outsize costs to the environment, society, and the industry itself.
Total greenhouse gas emissions from textiles production clock in at 1.2 billion tons a year, more than those emitted by all international flights and maritime ships combined. Replacing this linear business model with a circular design one would help recapture more than $500 billion in industry losses every year and still mitigate negative environmental impacts. Design out waste and pollution There’s even room to innovate with ‘moonshot’ solutions in areas where progress is scarce—for example, in fabric design. Global Economic Inequality. Global divergence followed by convergence – Economic history in one chart The chart below shows the distribution of annual income among all world citizens.
To make incomes comparable across countries and time, daily incomes are measured in constant 2011 International Dollars—this is a currency that would buy a comparable amount of goods and services that a U.S. dollar would buy in the United States in 2011 (for a more detailed explanation, see here). The distribution of incomes is shown at 3 points in time: In 1800, few countries had achieved economic growth. We have visualized a similar dataset from the OECD here.1 Global inequality in 1800, 1975, and 20152 Global income inequality increased for 2 centuries and is now falling The visualization below shows the distribution of incomes between 1988 and 2011. The visualization shows the end of the long era in human history in which global inequality was increasing.
Global Income Distribution 1988 to 20114 Maps – Current World Income Distribution. Iwp report feb 2019 final. The next crash: why the world is unprepared for the economic dangers ahead. A decade has passed since the start of the Great Recession – the momentous downturn that shook the global economy as none had since the 1930s. In the intervening years, the world has experienced a slow but consistent recovery. Economic dangers, however, are now apparent at every turn: a new global debt crisis, trade wars between great powers and a Chinese slowdown.
The IMF has cut its world growth forecast for 2019 to 3.5 per cent (compared to 3.9 per cent in July 2018), citing lower growth in both advanced and emerging economies and the rising likelihood of a negative economic shock. Some market analysts are now warning of a possible global recession this year – far earlier than most have anticipated. But how much danger are we in? On the surface, it is unclear what explains the new mood of pessimism. But all is not as it seems. Germany avoided recession by the narrowest of margins, with zero growth in the final quarter of 2018, while Italy has returned to negative growth. McKinsey: Influence of family businesses rising globally. Nobel Economist Says Inequality is Destroying Democratic Capitalism. By Angus Deaton At the launch of the IFS Deaton Review, a 5-year review of rising inequalities in the UK, Sir Angus Deaton decried extreme inequality and the system that allows it. “As it is, capitalism is not delivering to large fractions of the population.”
We are about to embark on a large, ambitious, and open-ended review of inequalities. We are bringing together a distinguished group of scholars and writers from different disciplines. Each thinks about inequality differently, and together they encompass a wide range of methodological, political, and philosophical perspectives. At a first stage, currently underway, the guiding panel is asking each member of this larger group to write about one or other aspect of the topic; this collective effort will be one of our main products.
As at no other time in my lifetime, people are troubled by inequality. Get Evonomics in your inbox Given that we are just starting, it is perhaps presumptuous of me to say anything substantive at this point. Upscaling Upcycling. In the last fiscal year, Nepal imported 10 million bottles of alcohol. While some of them are recycled, many cannot be rebottled in Nepal and end up as shards of glass on the banks of rivers and around landfill sites. Doko Recyclers has been collecting garbage house-to-house in Kathmandu to covert organic waste into fertiliser and recycle other material. Now, it has launched a new brand for upcycled products called Tatwa, which takes unrecyclable imported beer, wine and liquor bottles and converts them into candle holders, drinking glasses, tumblers, glass containers and even toothpick holders.
Tatwa has so far repurposed over 6,000 imported bottles collected from households, restaurants and hotels around the country. Discarded bottles are first thoroughly cleaned and sterilised before being cut down by industrial machines. GII 2018 Full print.WEB (1) If capitalism is broken, maybe it’s fixable - Open Future.
2019 Airbnb Statistics - User & Market Growth Data [Updated] A curated resource for journalists & consumers on the latest data and insights behind Airbnb’s rapid growth. Last updated: June 2019. number of total users on Airbnb people staying in an Airbnb per night global Airbnb listings worldwide valuation based off recent stock sale Note: statistics on entire vacation rental industry found here. General Statistics About Airbnb Airbnb has over 150 million users worldwide.There have been over half a billion Airbnb stays all-time.There are over 650,000 hosts worldwide.There are over 6 million Airbnb listings worldwide.Over 1.9 million listings are instantly bookable.
Growth Rate *153%* global compound growth rate since 2009*45%* increase in United States bookings year-to-year*62.5%* increase in guest arrivals over the past year*102%* increase in the number of senior hosts over 60 since 2017 Users General Demographics 54% of Airbnb guests are female. 46% of Airbnb guests are male. Spaces Over Airbnb’s lifetime, there have been: Habits By Location Destinations. 105 Amazing Airbnb Statistics and Facts (2019) | By the Numbers.
The new left economics: how a network of thinkers is transforming capitalism | News. For almost half a century, something vital has been missing from leftwing politics in western countries. Since the 70s, the left has changed how many people think about prejudice, personal identity and freedom. It has exposed capitalism’s cruelties. It has sometimes won elections, and sometimes governed effectively afterwards. But it has not been able to change fundamentally how wealth and work function in society – or even provide a compelling vision of how that might be done. Instead, the right has had one. In this increasingly hostile environment, the left’s economic approach has been reactive – resisting these huge changes, often in vain – and often backward-looking, even nostalgic. And yet, in recent years, that system has started to fail. There is a dawning recognition that a new kind of economy is needed: fairer, more inclusive, less exploitative, less destructive of society and the planet.
A huge political space has opened up. Others in the movement are more bullish. Are legacy companies holding back the future? In my presentations I regularly talk about legacy Europe and America and leapfrog countries from China to India to Kenya to Colombia. The reason the latter countries are leapfrogging Europe and America is that they didn’t have a large, ingrained existing infrastructure for payments and financial transactions in place until this century.
Meantime, most of the European and American infrastructure was implemented in the 1970s. This point was rammed home by a GoMedici article I saw over the weekend, with a nice chart I can slip into my future presentations. This clearly shows that chasm between China and America, where over $40 trillion is transacted by Chinese consumers through their mobile phones compared to a measly $200 billion in America*. Now, OK, China has a lot more people but, even so … Then it occurred to me part of the reason for the slow to change world of America is because people are used to the old infrastructure. . * Forrester estimates are two years old. Rote vs. Meaningful Learning. By Merid Belayneh, Pharm.D., PGY1 Pharmacy Practice Resident, VA Maryland Health Care System “The mind is not a vessel to be filled but a fire to be kindled.” ― Plutarch (46 – 120 AD) In pharmacy school I was encouraged to understand the material and not merely memorize it.
My professors were likely referring to the difference between rote and meaningful learning. Today, faculty and preceptors are strongly encouraged to use and frequently employ active learning strategies throughout the pharmacy curriculum.1,2 While active learning is often used to foster meaningful learning, it is important to recognize that active learning does not ensure that meaningful learning actually occurs.3 Rote learning is still important and often pre-requisite. Rote learning frequently involves repeating information until it's remembered.
To examine the importance of rote learning, let’s review two studies that looked at how students learn two different subjects: language and math. References. Rote v meaning. Rote Learning vs. Meaningful Learning | Oxford Learning. While rote learning and meaningful learning are both ways of learning, they are very different.
Does one type of learning benefit your child more in the long run? To get to the bottom of this question, let’s examine both types of learning. What Is Rote Learning? Rote learning is the memorization of information based on repetition. Examples of rote learning include memorizing the alphabet, numbers, and multiplication tables. Some consider rote learning to be a necessary step in learning certain subjects. Memorization isn’t the most effective way to learn, but it’s a method many students and teachers still use. Advantages of Rote Learning There are some benefits of Rote Learning, including: Ability to quickly recall basic factsHelps develop foundational knowledge Disadvantages of Rote Learning The drawbacks of learning by memorization include: What is Meaningful Learning?
Meaningful learning involves understanding how all the pieces of an entire concept fit together. Rote Learning vs. The Epic Battle: Direct Instruction vs. Discovery Learning | ED626. My experience in teaching math has lead me to support enhanced discovery as Alfieri, Brooks, Aldrich, and Tenenbaum (2011) called it, which calls for teacher directed guidance to lead students to and through the discovery of knowledge as Marzano (2011) outlined. Direct instruction and discovery learning have been posed as polar opposites, almost as a dichotomy.
Research has considered them to be exclusive of each other by presenting data to highlight the benefits of one over the other (a few examples out of many would be Karaduman & Gultekin, 2007; Wong & Day, 2009). Further, many articles and commentaries have called on education to move away from the “old ways” (some examples would be Kay, 2012; Morris, 2014; Richardson, 2015; Saavedra & Opfer, 2012). In Alberta, the Ministry of Education stated, “A focus on competencies would move education to a process of inquiry and discovery–not just the dissemination of information and recall of facts” (Alberta Education, 2010, p. 7). References. The west must avoid falling into the trap that stifled Japan | Mohamed El-Erian | Business. Not too long ago, the conventional wisdom held that “Japanification” could never happen in western economies. Leading US economists argued that if the combined threat of weak growth, disinflation and perpetually low interest rates ever materialised, policymakers would have the tools to deal with it.
They had no problem lecturing the Japanese about the need for bold measures to pull their country out of a decades-old rut. Japanification was regarded as the avoidable consequence of poor policymaking, not as an inevitability. And yet the spectre of Japanification now looms over the west. After the 2008 financial crisis the recoveries in Europe and the US were more sluggish and less inclusive than the majority of policymakers, politicians and economists expected. Europe, in particular, is back in the grips of a worrying regionwide slowdown. Meanwhile, Japan is approaching its fourth consecutive decade of consistently low nominal growth, inflation and interest rates.
. © Project Syndicate. Great Ideas Are Getting Harder to Find. Unless we keep raising research inputs, economic growth will continue to slow in advanced nations. There’s been ongoing dialogue in the past few years about whether tech innovations have plateaued. While some say that we’re still in a golden age of innovation, a 2016 headline in The Wall Street Journal declared, “The Economy’s Hidden Problem: We’re Out of Big Ideas.” The article cited slower gains in science, medicine, and technology that hold back economic growth and posited that U.S. businesses may be too risk averse.
At the MIT symposium in November 2017, director of the MIT Initiative on the Digital Economy Erik Brynjolfsson answered the question, “Are we running out of inventions?” What’s going on? Our latest research shows encouraging signs that new concepts have not been depleted. A Research Productivity Gap We believe that these differing views revolve around resource allocation. The High Cost of Mining for Ideas. Crazy rich Asia risks running into trouble. S focus too little on what people really care about - Free exchange: The worth of nations.
A CYNIC, says one of Oscar Wilde’s characters, is a man who knows the price of everything and the value of nothing. But, as philosophers have long known, assigning values to things or situations is fraught. Like the cynic, economists often assume that prices are all anyone needs to know. This biases many of their conclusions, and limits their relevance to some of the most serious issues facing humanity. The problem of value has lurked in the background ever since the dismal science’s origins. Around the time Adam Smith published his “Wealth of Nations”, Jeremy Bentham laid out the basis of a utilitarian approach, in which “it is the greatest happiness of the greatest number that is the measure of right and wrong”. In the late 19th century Alfred Marshall declared the correct focus of economics to be the “attainment and…use of material requisites of well-being”. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks.
World Poverty is NOT Decreasing | Ian Welsh. Is the world really getting poorer? A response by Steve Pinker. Bill Gates says poverty is decreasing. He couldn’t be more wrong | Jason Hickel. On the Politics of Basic Income. Is Use More Important than Ownership? | Association of Professional Futurists. Seven ways to think like a 21st century economist. Periodic table to highlight scarcity of elements used in mobile phones. Indonesia binges on e-commerce - Island shopping. U.S. economy could slip from top spot in 2020 and keep slipping, analysts say.