Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 10. September 2018

Joseph Stiglitz on artificial intelligence: ‚We’re going towards a more divided society‘

Posted by hkarner - 10. September 2018

Date: 09-09-2018
Source: The Guardian by Ian Sample Science editor

The technology could vastly improve lives, the economist says – but only if the tech titans that control it are properly regulated. ‘What we have now is totally inadequate’

Main image: ‘All the worst tendencies of the private sector in taking advantage of people are heightened by these new technologies’ … Joseph Stiglitz.

It must be hard for Joseph Stiglitz to remain an optimist in the face of the grim
future he fears may be coming. The Nobel laureate and former chief economist at the World Bank has thought carefully about how artificial intelligence will affect our lives. On the back of the technology, we could build ourselves a richer society and perhaps enjoy a shorter working week, he says. But there are countless pitfalls to avoid on the way. The ones Stiglitz has in mind are hardly trivial. He worries about hamfisted moves that lead to routine exploitation in our daily lives, that leave society more divided than ever and threaten the fundamentals of democracy.

“Artificial intelligence and robotisation have the potential to increase the productivity of the economy and, in principle, that could make everybody better off,” he says. “But only if they are well managed.”

On 11 September, the Columbia University professor will be in London to deliver the latest lecture in the Royal Society’s You and AI series. Stiglitz will talk about the future of work, an area where predictions have been frequent, contradictory and unnerving. Last month, the Bank of England’s chief economist, Andy Haldane, warned that “large swathes” of Britain’s workforce face unemployment as AI and other technologies automate more jobs. He had less to say about the new positions AI may create. A report from PricewaterhouseCoopers in July argued that AI may create as many jobs as it destroys – perhaps even more. As with the Industrial Revolution, the misery would come not from a lack of work, but the difficulty in switching from one job to another. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

These I: Nächster Crash könnte schlimmer werden als Lehman-Kollaps

Posted by hkarner - 10. September 2018

Andreas Schnauder, 9. September 2018, 08:00, derstandard.at

Das Finanzsystem ist seit Lehman von einer gewaltigen Geldschwemme aufgebläht worden. Ein Platzen der riesigen Schulden-, Aktien- und Immobilienblase könnte die Welt noch härter treffen als vor zehn Jahren

Donald Trump macht sich Sorgen. Wenn die Zinsen steigen, wird die ausufernde Staatsverschuldung der USA das Land noch stärker bedrohen, als das jetzt schon der Fall ist. Kein Wunder, dass der amerikanische Präsident ordentlich Druck auf den von ihm selbst nominierten Notenbankchef Jerome Powell ausübt. Er sei „nicht begeistert“ von den bisherigen – ohnehin äußerst zarten – Zinsschritten der Zentralbank, gab Trump von sich und beendete damit eine jahrzehntelange Tradition, die Unabhängigkeit der Fed nicht durch Querschüsse aus dem Weißen Haus zu torpedieren. Das Tauziehen um die wichtigste Zentralbank der Welt zeigt schon, wie angespannt die Lage ist. Zehn Jahre nach dem Kollaps der US-Investmentbank Lehman Brothers, der einen Finanz-Tsunami und eine weltweite Rezession auslöste, kracht es wieder ordentlich im Gebälk der globalen Wirtschaft. Jahrelang fluteten die Notenbanken der großen Industriestaaten die Märkte mit Billionen, um Banken und Wirtschaft auf die Beine zu helfen.

Irrfahrt in riskante Investments

Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »

Whom the Climate Bell Tolls

Posted by hkarner - 10. September 2018

J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

Those living large in temperate zones across the Global North might like to think that a warming planet is an inconvenient, costly, but ultimately manageable problem that need not affect their current standard of living. Yet, to believe that, one must be prepared to write off the rest of humanity.

BERKELEY – Scarcely had I begun my first lecture of the fall semester here at the University of California, Berkeley, when I realized that I was too hot. I desperately wanted to take off my professorial tweed jacket.

A tweed jacket is a wonderful but peculiar costume. If all you have for raw material is a sheep, it is the closest thing you can get to Gore-Tex. Not only is it perfect for a cloudy, drizzly climate, it is also surprisingly warm – wet or dry – for its weight. In the world before central heating, the wool fabrics now most commonly associated with male formal and semi-formal attire were both effective and comfortable, regardless of whether one lived in Oxford, Cambridge, Edinburgh, London, Bristol, or Norwich. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

Nonbelievers Seek Political Power to Match Their Growing Numbers

Posted by hkarner - 10. September 2018

Date: 09-09-2018
Source: The Wall Street Journal

A coalition has kicked off a national voter-registration drive for ‘nones’ ahead of the midterms

Future voters stopped by a voter-registration table staffed by representatives of the Secular Coalition for America last month during the first day of classes at the University of Houston-Downtown.

HOUSTON—As November’s midterm election approaches, nonbelievers in the U.S. are trying to build something that has long eluded them: political power.

The portion of U.S. adults who don’t identify with any religious group rose to 24% of the population in 2016 from 14% in 2000, according to the Public Religion Research Institute. But their political influence has lagged behind: Just 15% of voters in 2016 identified as not belonging to a religious group, according to exit polls.

A coalition of secular organizations is now determined to close that gap. This summer, they kicked off a nationwide voter registration drive, which will culminate with a get-out-the-secular-vote campaign in the fall. Their goal is also to politically galvanize nonbelievers around issues like separation of church and state and access to abortion. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

China’s Trade Surplus With U.S. Hits New Record

Posted by hkarner - 10. September 2018

Date: 09-09-2018
Source: The Wall Street Journal

U.S.-China trade gap widens to $31.05 billion

President Trump has threatened to impose tariffs on virtually all Chinese exports to the U.S.

BEIJING—China’s trade surplus with the U.S. hit another record monthly high in August as the world’s second-largest economy faced the threat of more tariffs from the Trump administration.

China’s trade surplus with the U.S. widened to $31.05 billion last month from $28.09 billion in July, while its total trade surplus narrowed, data from the General Administration of Customs showed Saturday.

The data came as Washington prepared to roll out a third round of tariffs, moving it closer toward imposing levies on virtually all Chinese goods entering the U.S.

A combination of factors, including a weaker Chinese yuan and exporters’ frontloading of shipments in anticipation of more tariffs, contributed to the worsening trade imbalance, said Liu Xuezhi, an economist with Bank of Communications. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »