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Archive for 18. Januar 2019

The great rescrambling of Britain’s parties

Posted by hkarner - 18. Januar 2019

Date: 17-01-2019
Source: The Economist: Bagehot

The country may be headed for a repeat of the 1850s

PEOPLE HAVE been talking about the collapse of the British party system for decades. Now it may actually be under way. The government has lost its authority. Parties are dissolving into factions. Factions are forming left-right alliances. Backbenchers are seizing the limelight while frontbenchers are hiding in the bushes.

Theresa May’s historic defeat on January 15th showed how far the disintegration on the right has gone. Just 40 Tories who are not on the government payroll voted in favour of the deal; 118 Tories voted against it. Now the focus is shifting to the left. Having lost the vote of no confidence in the government—and hence his chance of engineering a general election anytime soon—Jeremy Corbyn will face mounting pressure to call for a second referendum. This will expose deep divisions within his party: between Remain-supporting middle-classes and the Leave-supporting workers; between Labour’s high command and the bulk of its activists; and between Mr Corbyn, who dislikes the idea of another vote, and his chancellor, John McDonnell, who is more open to it. Den Rest des Beitrags lesen »

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The Real Cure for Economic Insecurity

Posted by hkarner - 18. Januar 2019

Date: 17-01-2019
Source: The Wall Street Journal By The Editorial Board
Subject:Liberal economists admit they were wrong about the ‘gig economy.’

‘The gig economy is simply the next step in a losing effort to build some economic security in a world where all the benefits are floating to the top 10%.” So declared Democratic Sen. Elizabeth Warren in 2016 amid an explosion of start-ups that facilitate freelancing by connecting workers with customers.

Ms. Warren was echoing a liberal lament that jobs now come with fewer protections and benefits. Democrats cited a 2016 study by liberal economists Lawrence Katz and Alan Krueger that purportedly showed a 50% increase in non-traditional work such as independent contracting and temporary jobs over a decade. Last week Messrs. Katz and Krueger walked back their findings. Turns out a stronger economy has produced more steady jobs, and Obama-era regulations may have made workers worse off. Den Rest des Beitrags lesen »

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They Own the System’: Amazon Rewrites Book Industry by Marching Into Publishing

Posted by hkarner - 18. Januar 2019

Date: 17-01-2019
Source: The Wall Street Journal

The retail giant, the world’s largest public company, commands an unrivaled customer base for the books, e-books and audiobooks it publishes

Amazon.com Inc., which over more than two decades made itself the world’s largest book retailer, has created an unrivaled display window that can catapult titles from obscurity to must-reads.

More recently it has built something else: Its own line of published books.

When veteran book author Mark Sullivan tried to sell a World War II saga in 2015, eight New York book publishers rejected it. Then Amazon’s publishing arm scooped up “Beneath a Scarlet Sky” for an advance in the low five figures.

The novel was released in 2017 and featured on Amazon First Reads. The online promotion also is emailed each month to more than 7 million U.S. subscribers and exclusively showcases titles from Amazon Publishing. Den Rest des Beitrags lesen »

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Building Defenses Against the Next Economic Downturn

Posted by hkarner - 18. Januar 2019

By David Lipton

The global economy faces a number of complex challenges from technological change and globalization, and the lingering effects of the 2008-9 financial crisis. At the same time, we are witnessing lower levels of trust in the core institutions that have helped to deliver tremendous growth and prosperity over the past 40 years. These developments threaten to fragment the international order that has governed the global economy.

History suggests such a downturn is somewhere over the horizon.

The symptoms of this fragmentation include rising trade tensions, discord with and within some multilateral institutions, and a dilution of efforts to address the profound cross-border challenges of the 21st century, such as climate change, cyber-crime, and refugee flows. The question inevitably arises: if this is occurring at a time of solid global growth and relative financial stability, what might the next economic downturn produce? Den Rest des Beitrags lesen »

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Brexit, mother of all messes

Posted by hkarner - 18. Januar 2019

Date: 17-01-2019
Source: The Economist

Solving the crisis will need time—and a second referendum

No plan by any modern British government has been so soundly thrashed as the Brexit deal thrown out by Parliament on January 15th. The withdrawal agreement, the centrepiece of Theresa May’s premiership, which she has spent nearly two years hammering out with the European Union, was rejected after five days’ debate by 432 votes to 202. Her own Conservative bankbenchers voted against her by three to one.

The mother of parliaments is suffering the mother of all constitutional crises. Three years ago, in the biggest poll in the country’s history, Britons voted in a referendum to leave the eu. Yet Parliament, freshly elected a year later by those same voters, has judged the terms of exit unacceptable. The eu shows little willingness to renegotiate. The prime minister ploughs obdurately on. And if this puzzle cannot be solved by March 29th, Britain will fall out with no deal at all.

To avoid that catastrophe, the priority must be to ask the eu for more time. But even with the clock on their side, mps seem unlikely to agree on a solution to Brexit’s great riddle: what exit terms, if any, truly satisfy the will of the people? With every week in which mps fail to answer this question, it becomes clearer that the people themselves must decide, in a second referendum. Den Rest des Beitrags lesen »

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The Theresa May Survival Guide

Posted by hkarner - 18. Januar 2019

Date: 17-01-2019
Source: The Wall Street Journal By The Editorial Board

No one else wants to take the political risks of Brexit.

British Prime Minister Theresa May

Say what you will about Theresa May—and you might as well because everyone else has—the British Prime Minister can take a punch. On Wednesday she survived a no-confidence vote in Parliament, 325-306, only 24 hours after the same body crushed her Brexit deal with the European Union.

It’s easy to lose sight of how bizarre this is. By rights she should have resigned. Obviously she no longer enjoys the confidence of her own party, let alone all of Parliament.

Yet even the 118 Conservatives who opposed her EU deal supported her as PM, as did the 10 members of the Northern Ireland Democratic Unionist Party who prop up her government but also opposed her on Brexit. These folks enjoy griping from the sidelines about Brexit policy, but no one else wants to catch the spears that go with being in charge of the process.

The opposition Labour Party under Jeremy Corbyn is no better. Mr. Corbyn triggered Wednesday’s vote as a gambit to force a new national election that he hopes to win. His real priority is a socialist agenda for reshaping Britain’s domestic economy. Privately he seems to support Brexit. Publicly his views are a muddle. That doomed his confidence motion, as moderates recoil from his economic agenda and no one trusts him to be an honest broker. Den Rest des Beitrags lesen »

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