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Archive for 18. April 2019

The Good Life After Work

Posted by hkarner - 18. April 2019

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

In order to manage the latest wave of automation, we must have ends that are more compelling than merely wanting more products and services. Without an intelligent definition of wellbeing, we will simply create more and more monsters that feed on our humanity.

LONDON – Almost all “robots are coming” stories follow a tried-and-true pattern. “Shop Direct puts 2,000 UK jobs at risk,” screams a typical headline. Then, quoting from authoritative reports from prestigious institutes and think tanks, the article in question usually alarms audiences with extravagant estimates of “jobs at risk” – that is, percentages of workers whose livelihoods are threatened by high-tech automation. To quote another representative example: “A new report suggests that the marriage of [artificial intelligence] and robotics could replace so many jobs that the era of mass employment could come to an end.”

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The Digital Revolution’s Silent Majority

Posted by hkarner - 18. April 2019

Edoardo Campanella

Edoardo Campanella is a Future of the World Fellow at the Center for the Governance of Change of IE University in Madrid.

An abiding mystery of the twenty-first-century economy is tepid productivity growth despite the emergence of cutting-edge technologies with the potential to disrupt entire industries. But there could be a simple explanation: the attention these technologies receive is wildly disproportionate to their scale and scope.

MILAN – Statistics can hold brutal truths. We are constantly told that innovation is occurring faster than ever, yet the data coming out of the so-called Fourth Industrial Revolution suggest that it is anything but revolutionary. Among advanced economies, productivity growth is the slowest it’s been in 50 years.

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Hohe Schuldenstände verhindern weitere Leitzins-Anhebungen

Posted by hkarner - 18. April 2019

Dank an H.G.

Deutsche Wirtschafts Nachrichten | Veröffentlicht: 16.04.19 17:14 Uhr
Die Notenbanken der westlichen Industriestaaten haben im ersten Quartal 2019 den
Zinserhöhungszyklus abgesagt. Die immens gestiegenen Schuldenstände bei Staaten, Haushalten
und Firmen machen höhere Zinsen unmöglich.

Der US-Großbank J.P. Morgan (JPM) zufolge hat die US-Zentralbank Federal Reserve die Phase der
Zinserhöhungen vorerst beendet. Der US-Leitzins liege derzeit zwischen 2,25 und 2,5 Prozent; angesichts der
aktuellen Inflation von 2 Prozent ergebe dies einen realen Leitzins nur knapp über der Nulllinie. In Europa habe
die EZB trotz fünfjähriger Wachstumsphase in der Eurozone gar nicht erst mit Zinserhöhungen begonnen und der
reale Leitzins ist mit minus 1 Prozent tief negativ.

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IBM Struggles to Jump-Start Its Turnaround

Posted by hkarner - 18. April 2019

Date: 17-04-2019
Source: The Wall Street Journal

Computing giant posts third consecutive quarter of declines, touts growth in cloud-computing business

IBM said its cloud businesses grew by 10% in the past 12 months.

International Business Machines Corp. reported a third consecutive quarter of declining revenue, further clouding Chief Executive Ginni Rometty’s yearslong quest to revitalize the computing giant.

Under Ms. Rometty, who has been at the helm since 2012, IBM has poured resources into its cloud-computing business and new technologies such as artificial intelligence, aiming to reorient Big Blue in a world where traditional growth engines like equipment sales and services haven’t been growing as rapidly. Den Rest des Beitrags lesen »

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China Growth Beats Expectations Thanks to Humming Factories

Posted by hkarner - 18. April 2019

Date: 17-04-2019
Source: The Wall Street Journal

Many economists prepared for a weaker first-quarter performance

SHANGHAI—China’s economic growth held to a 6.4% rate in the first three months of the year as factory production picked up significantly amid signs authorities worked forcefully to stabilize business following months of weakness.

The 6.4% expansion in China’s economy during the first quarter was the second straight at that level but remained below 2018’s 6.6% full-year rate, according to official data released Wednesday. The pace was slightly higher than what many economists expected and appeared buoyed by a powerful rebound in some key drivers. Industrial production, after a lackluster start to the year, surged 8.5% in March from a year earlier. Retail sales for the quarter were stronger than expected along with property investment.

While China’s economy has been on a slow downtrend this past decade—weighed down by debt and excess capacity—a sharper-than-expected slowdown hit last year, exacerbated by severe trade tensions with the U.S. The government now appears to be stepping up work to arrest the slide. Many economists prepared for a weaker first-quarter performance, and the year’s nadir, on belief that stable activity in consumer and services sectors would be offset by sluggish investment in fixed assets, such as factories and bridges. Den Rest des Beitrags lesen »

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The U.S. Wants to Ban Huawei. But in Some Places, AT&T Relies On It.

Posted by hkarner - 18. April 2019

Date: 17-04-2019
Source: The Wall Street Journal

U.S. company and rivals use Chinese vendor’s equipment to run wireless networks across Mexico; ‘We just continue supplying them’

Huawei’s success in Mexico shows the uphill climb U.S. officials face convincing private-sector leaders that the company poses a threat to information security.

U.S. officials have told telecommunications executives around the world to steer clear of Huawei Technologies Co., calling the company a national-security threat, but that hasn’t prevented AT&T Inc. from using the Chinese company’s equipment in Mexico.

While AT&T has kept Chinese equipment out of its domestic networks, industry executives say the U.S. company uses Huawei’s gear to run a large part of the wireless network in Mexico, where the electronics giant is as welcome as any other supplier. Den Rest des Beitrags lesen »

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