Föhrenbergkreis Finanzwirtschaft

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Archive for 19. Januar 2020

The New Davos Challenge

Posted by hkarner - 19. Januar 2020

Alexander Friedman

Alexander Friedman, a co-founder of Jackson Hole Economics, is a former Chief Executive Officer of GAM Investments, Chief Investment Officer of UBS, Chief Financial Officer of the Bill & Melinda Gates Foundation, and White House Fellow.

Jerry Grinstein is a former CEO of Delta Air Lines and Burlington Northern Railroad, and previously served as Chief Counsel to the United States Senate Commerce Committee.

Larry Hatheway, former Chief Economist at UBS and GAM Investments, is a co-founder of Jackson Hole Economics.

Charles C. Krulak is a former Commandant of the US Marine Corps and President of Birmingham-Southern College.

As political leaders and corporate titans gather in Davos, Switzerland, for the World Economic Forum’s annual meeting, they would do well to consider how the abstract ideal of „stakeholder capitalism“ can be translated into reality. The key to changing the behavior of economic and political elites alike is to change what is measured.

DAVOS – The World Economic Forum’s annual flagship meeting this year will focus on how to build a more cohesive and sustainable world. As always, the topic is timely, but also a little abstract. To help give it more concrete form, we have a few proposals to put the prevailing economic model on a better track and focus the discussion. 

First, it is time to overhaul the US tax code to reduce structural wealth inequality. To that end, America should get rid of the “carried-interest” loophole. A provision that was originally intended to encourage long-term investment has become a massive tax break for financiers working in private equity and at hedge funds. Although the 2017 Tax Cuts and Jobs Act placed some limitations on this finance-friendly rule, it remains in place.By the same token, America should do away with the “stepped-up cost basis” loophole, which has become a key way by which the rich avoid taxation when bequeathing their wealth to their heirs. Den Rest des Beitrags lesen »

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The Truth About the Trump Economy

Posted by hkarner - 19. Januar 2020

Joseph E. Stiglitz

Joseph E. Stiglitz, a Nobel laureate in economics, is University Professor at Columbia University and Chief Economist at the Roosevelt Institute. His most recent book is People, Power, and Profits: Progressive Capitalism for an Age of Discontent.

It is becoming conventional wisdom that US President Donald Trump will be tough to beat in November, because, whatever reservations about him voters may have, he has been good for the American economy. Nothing could be further from the truth.

NEW YORK – As the world’s business elites trek to Davos for their annual gathering, people should be asking a simple question: Have they overcome their infatuation with US President Donald Trump?

Two years ago, a few rare corporate leaders were concerned about climate change, or upset at Trump’s misogyny and bigotry. Most, however, were celebrating the president’s tax cuts for billionaires and corporations and looking forward to his efforts to deregulate the economy. That would allow businesses to pollute the air more, get more Americans hooked on opioids, entice more children to eat their diabetes-inducing foods, and engage in the sort of financial shenanigans that brought on the 2008 crisis. Den Rest des Beitrags lesen »

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Governments are rethinking the provision of public housing

Posted by hkarner - 19. Januar 2020

Date: 16‑01‑2020

Source: The Economist

Is it better to give people money or build them houses?

In the past ten years the homeless population in Los Angeles has risen by 50%. In New York it is 60% up over the same period. San Francisco is widely thought to have America’s worst homelessness problem. Just metres from the headquarters of Twitter and Uber, people lie in the street, stupefied, or defecate in front of the passing traffic. The term “housing crisis” is bandied about too readily. But it is an apt way of describing what is happening in America’s most prosperous cities.

It does not have to be this way. Tokyo is as much a global city as San Francisco, yet you can go days without seeing a single person living on the streets. The inhabitants of Zug, a short drive from Zurich, are as rich as the local Kirschtorte. Astonishing wealth, a waterside location and lots of high‑tech firms mean that Zug bears more than a passing resemblance to San Francisco. But in Zug there is practically no rough sleeping. Den Rest des Beitrags lesen »

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