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Archive for 12. Dezember 2017

The First Women in Tech Didn’t Leave—Men Pushed Them Out

Posted by hkarner - 12. Dezember 2017

Date: 10-12-2017
Source: The Wall Street Journal

In computing’s early years, when it was considered women’s work, all six programmers of America’s first digital computer, ENIAC, were women

Sexism in the tech industry is as old as the tech industry itself.

Memos from the United Kingdom’s government archives reveal that, in 1959, an unnamed British female computer programmer was given an assignment to train two men. The memos said the woman had “a good brain and a special flair” for working with computers. Nevertheless, a year later the men became her managers. Since she was a different class of government worker, she had no chance of ever rising to their pay grade.

Today, in the U.S., about a quarter of computing and mathematics jobs are held by women, and that proportion has been declining over the past 20 years. The situation is generally worse at the biggest tech companies: Only one in five engineers at Google or Facebook is a woman, according to the companies’ recent diversity reports. A string of recent events—from women coming forward about sexism, harassment and discrimination in the industry, to the controversy over a memo written by a Google employee arguing that women overall are biologically less suited to programming—suggest the steps currently being taken by tech firms to address these issues are inadequate. Den Rest des Beitrags lesen »

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Deutsche Bank Economist Says a Bitcoin Crash Would Endanger Global Markets

Posted by hkarner - 12. Dezember 2017

Date: 11-12-2017
Source: Fortune

The Bitcoin Bubble Is Not Going to Pop

An economist at Deutsche Bank thinks a crash in the price of bitcoin will be among the top risks to broader markets in 2018.

Torsten Slok, Deutsche’s Bank’s Chief International Economist, recently sent clients a list of 30 market risks which could impact growth next year. The list, shared with outlets including Bloomberg, ranks a bitcoin crash as the 13th-highest risk, behind various central banking challenges and overvaluation of U.S. equities.

It’s not hard to argue bitcoin is in a hype-fueled bubble, but Deutsche’s concern that it could impact the global economy still seems at least slightly overblown. According to Coinmarketcap, the total market value of all cryptocurrencies — including not just bitcoin, but Ethereum, Litecoin, and all the rest — is now swinging around $400 billion. For comparison, the total value of the U.S. housing market, which lay at the heart of the 2008 financial crisis, was estimated at $29.6 trillion in 2016 — or more than 70 times higher than cryptocurrencies’ current total value. Den Rest des Beitrags lesen »

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Populist Plutocracy and the Future of America

Posted by hkarner - 12. Dezember 2017

Nouriel Roubini, a professor at NYU’s Stern School of Business and CEO of Roubini Macro Associates, was Senior Economist for International Affairs in the White House’s Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US Federal Reserve, and the World Bank.

In the first year of his presidency, Donald Trump has consistently sold out the blue-collar, socially conservative whites who brought him to power, while pursuing policies to enrich his fellow plutocrats. Sooner or later, Trump’s core supporters will wake up to this fact, so it is worth asking how far he might go to keep them on his side.

NEW YORK – Donald Trump won the US presidency with the backing of working-class and socially conservative white voters on a populist platform of economic nationalism. Trump rejected the Republican Party’s traditional pro-business, pro-trade agenda, and, like Bernie Sanders on the left, appealed to Americans who have been harmed by disruptive technologies and “globalist” policies promoting free trade and migration. Den Rest des Beitrags lesen »

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Does Europe Really Need Fiscal and Political Union?

Posted by hkarner - 12. Dezember 2017

Dani Rodrik is Professor of International Political Economy at Harvard University’s John F. Kennedy School of Government. He is the author of The Globalization Paradox: Democracy and the Future of the World Economy, Economics Rules: The Rights and Wrongs of the Dismal Science, and, most recently, Straight Talk on Trade: Ideas for a Sane World Economy.

There is a growing sense in Europe, among conservatives and progressives alike, that fiscal and eventual political union is necessary to maintain the euro without damaging economic performance or democratic values. But there is also an alternative, much less ambitious view, according to which only banking union is needed.
CAMBRIDGE – Greece’s combative former finance minister, Yanis Varoufakis, and his nemesis, former German finance minister Wolfgang Schäuble, were at loggerheads on Greek debt throughout Varoufakis’s term in office. But they were in full agreement when it came to the central question of the eurozone’s future. Monetary union required political union. No middle way was possible.

This is one of the interesting revelations in Varoufakis’s fascinating account of his tenure as finance minister. “You are probably the one [in the Eurogroup] who understands that the eurozone is unsustainable,” Varoufakis quotes Schäuble as telling him. “The eurozone is constructed wrongly. We should have a political union, there is no doubt about it.” Den Rest des Beitrags lesen »

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Meet Your New Boss: An Algorithm

Posted by hkarner - 12. Dezember 2017

Date: 11-12-2017
Source: The Wall Street Journal

Companies are using artificial intelligence and other elements of the work-on-demand business model to automate workforce management tasks

Uber Technologies Inc. and other pioneers of the so-called gig economy became some of the world’s most valuable private companies by using apps and algorithms to hand out tasks to an army of self-employed workers.

Now, established companies like Royal Dutch Shell PLC and General Electric Co. are adopting elements of that model for the full-time workforce. Den Rest des Beitrags lesen »

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