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Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Moyo’

The African Threat

Posted by hkarner - 25. November 2018

Date: 23-11-2018
Source: Project Syndicate by Dambisa Moyo

Dambisa Moyo is a global economist and author of four New York Times bestselling books. Her latest book, Edge of Chaos: Why Democracy is Failing to Create Economic Growth and How to Fix It, was published in April 2018.

Although international engagement with Africa has evolved over time, it has never succeeded in putting the region on a path toward long-term and sustainable growth and development. Today, continued failure could expose the world to a new age of pandemics, terror, and mass migration.

NEW YORK – If the world never had to hear about Africa again, would anyone care? Setting aside Africa’s cultural contributions, I suspect that for many people the honest answer is “no.”

Ten years ago, in my book Dead Aid, I highlighted how a narrative backed by international aid policy cemented Africa’s status as the world’s problem child, rather than one destined for greatness.

Over the years, false starts on the continent have led to cynicism and despair. Once a repository of progressive aspiration, Africa has become the source of some of the greatest threats to the global economic order. Rather than capitalizing on opportunities, international engagement is increasingly focused on mitigating risks. Den Rest des Beitrags lesen »

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‘Edge of Chaos’ Review: A System in Need of an Overhaul

Posted by hkarner - 30. April 2018

Date: 29-04-2018
Source: The Wall Street Journal

Democratic capitalism is a peerless engine of economic growth, but it threatens to break down if current trends continue. George Melloan reviews “Edge of Chaos” by Dambisa Moyo.

Economist Dambisa Moyo

Dambisa Moyo, a Zambian-born economist, made a name for herself in 2009 with “Dead Aid,” arguing persuasively that foreign aid has preserved poverty in Africa instead of relieving it. Now she is embarked on an even larger project, proposing reforms in democracy itself in the developed world.

Ms. Moyo is a dedicated democratic capitalist. After earning a master’s degree at Harvard in public administration and a Ph.D. in economics at St. Antony’s College, Oxford, she did a turn at Goldman Sachs before becoming a full-time author. She serves on several corporate boards.

She writes that economic “growth matters—powerfully—to ordinary people” and that democratic capitalism has “proven itself, historically, to be a peerless tool for growth. . . . Nevertheless, the system urgently needs an overhaul if we are to jump-start the global economy.” She is concerned about the world’s rising debt level and about threats to international trade: “Established measurements suggest that globalization is now slowing, or worse, receding.” The diminution of global trade, the collapse of cross-border capital flows and the mounting constraints on the movement of labor—separately or together, she believes, these developments will result in deteriorating living standards and geopolitical unrest. There is even the danger, she adds, of “a global economic death spiral.”

If you overlook the hyperbole, Ms. Moyo’s diagnosis is worth pondering. The anti-immigration backlash in Europe and the United States, not to mention Donald Trump’s trade sparring and protectionist leanings, are unsettling. But what she offers up as a solution—she calls it her Blueprint for a New Democracy—sounds a little dodgy as well. To her credit, she offers the arguments both for and against her 10 reform proposals. Most of the proposals focus on shoring up America’s democratic functions, but they could easily apply, in broad principle, elsewhere. Den Rest des Beitrags lesen »

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Is the Stock Market Loaded for Bear?

Posted by hkarner - 8. Februar 2018

Dambisa Moyo, an economist and author from Sambia, sits on the board of directors of a number of global corporations. She is the author of Dead Aid, Winner Take All, and How the West Was Lost.

As 2018 progresses, business leaders and market participants should – and undoubtedly will – bear in mind that we are moving ever closer to the date when payment for today’s recovery will fall due. The capital market gyrations of recent days suggest that awareness of the inevitable reckoning is already beginning to dawn.

NEW YORK – In recent days, the initial New Year optimism of many investors may have been jolted by fears of an economic slowdown resulting from interest-rate hikes. But no one should be surprised if the current sharp fall in equity prices is followed by a swift return to bullishness, at least in the short term. Despite the recent slide, the mood supporting stocks remains out of sync with the caution expressed by political leaders.

Market participants could easily be forgiven for their early-year euphoria. After a solid 2017, key macroeconomic data – on unemployment, inflation, and consumer and business sentiment – as well as GDP forecasts all indicated that strong growth would continue in 2018. Den Rest des Beitrags lesen »

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Can Europe’s Banks Save the EU?

Posted by hkarner - 25. Oktober 2016

Photo of Dambisa Moyo

Dambisa Moyo

Dambisa Moyo, an economist and author, sits on the board of directors of a number of global corporations. She is the author of Dead Aid, Winner Take All, and How the West Was Lost.

OCT 24, 2016 Project Syndicate

NEW YORK – The multi-billion-dollar fine recently imposed by the US government on Germany’s Deutsche Bank for mis-selling mortgage securities in the United States has done little to improve confidence in the European Union, which remains plagued by slow economic growth, high unemployment, immigration challenges, and mounting uncertainty. What the Deutsche Bank scandal has done is shine a light on a last-resort option – a kind of “Hail Mary pass,” in American football terms – that could potentially save the European project.

Despite representing around 20% of world GDP, the eurozone does not have a top-ten bank or financial services institution in the FT 500 global ranking. The knock-on effects of such a fragmented and vulnerable banking system are apparent in Europe’s relatively poor showing in other sectors, such as technology and energy, that are vital for EU members’ economic future. Den Rest des Beitrags lesen »

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The Inequality Puzzle

Posted by hkarner - 19. Februar 2016

Photo of Dambisa Moyo

Dambisa Moyo

Dambisa Moyo, an economist and author, sits on the board of directors of a number of global corporations. She is the author of Dead Aid, Winner Take All, and How the West Was Lost.

FEB 18, 2016, Project Syndicate

NEW YORK – Over the past decade, income inequality has come to be ranked alongside terrorism, climate change, pandemics, and economic stagnation as one of the most urgent issues on the international policy agenda. And yet, despite all the attention, few potentially effective solutions have been proposed. Identifying the best policies for reducing inequality remains a puzzle.

To understand why the problem confounds policymakers, it is helpful to compare the world’s two largest economies. The United States is a liberal democracy with a market-based economy, in which the factors of production are privately owned. China, by contrast, is governed by a political class that holds democracy in contempt. Its economy – despite decades of pro-market reforms – continues to be defined by heavy state intervention.

But despite their radically different political and economic systems, the two countries have roughly the same level of income inequality. Each country’s Gini coefficient – the most commonly used measure of income equality – is roughly 0.47. Den Rest des Beitrags lesen »

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The Global Migration Blowback

Posted by hkarner - 19. Dezember 2015

Photo of Dambisa Moyo

Dambisa Moyo

Dambisa Moyo, an economist and author, sits on the board of directors of a number of global corporations. She is the author of Dead Aid, Winner Take All, and How the West Was Lost.

DEC 18, 2015, Project Syndicate

NEW YORK – The roughly 750,000 people who have arrived in Europe by sea in 2015 make up just a small part of the 60 million people displaced by war or persecution – the largest number in recorded history. Europe has experienced a mass influx of migrants before; some 700,000 refugees entered the European Union following the 1993 the breakup of Yugoslavia. But this marks the first time in history that the EU has been tasked with accommodating so many people from outside the continent, including new arrivals from Libya, Syria, Iraq, and Afghanistan.

Moreover, the non-European refugees who landed on European shores this year are unlikely to be the last. But the EU’s response to mass migration makes it less likely that the refugee crisis will be resolved in a sustainable way. Unless European leaders incorporate a long-term vision into their approach to migration, the probability of emergencies similar to this year’s refugee crisis will continue to rise. And that approach needs to acknowledge how domestic European policies contribute to the movement of people from the developing world. Den Rest des Beitrags lesen »

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Is Traditional Banking Unbreakable?

Posted by hkarner - 12. November 2015

Photo of Dambisa Moyo

Dambisa Moyo

Dambisa Moyo, an economist and author, sits on the board of directors of a global financial services company and a leading technology company. She is the author of Dead Aid, Winner Take All, and How the West Was Lost.

NOV 12, 2015, Project Syndicate

NEW YORK – It is a rare industry nowadays that is not at risk of being upended by digital technology. Amazon, having swept away bookshops, is now laying siege to the rest of the retail sector. In transportation, Uber is outrunning traditional taxi companies, while Airbnb is undermining the foundations of the hotel industry. Meanwhile, smartphones are transforming how we communicate and revolutionizing the way we discover and patronize businesses.

So it is no surprise that banking and financial-services companies are not safe from the immense transformations wrought by technological innovation. Indeed, for the last decade, digital startups have been penetrating areas traditionally dominated by the financial industry. But there is reason to believe that finance will prove resilient. Den Rest des Beitrags lesen »

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Greece’s Aid Addiction

Posted by hkarner - 11. August 2015

AUG 10, 2015 8, Project Syndicate

NEW YORK – The ongoing Greek debt saga is tragic for many reasons, not least among them the fact that the country’s relationship with its creditors is reminiscent of that between the developing world and the aid industry. Indeed, the succession of bailouts for Greece embodies many of the same pathologies that for decades have pervaded the development agenda – including long-term political consequences that both the financial markets and the Greek people have thus far failed to grasp.

As in the case of other aid programs, the equivalent of hundreds of billions of dollars has been transferred from richer economies to a much poorer one, with negative, if unintended, consequences. The rescue program designed to keep Greece from crashing out of the eurozone has raised the country’s debt-to-GDP ratio from 130% at the start of the crisis in 2009 to more than 170% today, with the International Monetary Fund predicting that the debt burden could reach 200% of GDP in the next two years. This out-of-control debt spiral threatens to flatten the country’s growth trajectory and worsen employment prospects. Den Rest des Beitrags lesen »

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The Siren of the Financial Meltdown

Posted by hkarner - 16. Februar 2011

   Date: 16-02-2011
 Source: NEWSWEEK

Brainy, beautiful economist Dambisa Moyo castigates the West for its economic profligacy in a provocative new book. She talks with NEWSWEEK about rising from Zambian roots to the heights of Davos.

Dambisa Moyo

When Dambisa Moyo wrote a book claiming that aid was bad for Africa, many in the West were ecstatic. This was no right-wing, isolationist, middle-aged, white, male author, but a glamorous, young, black, female, African economist. Dead Aid won itself a load of publicity when it came out in 2009, not because its argument was particularly new, but because it came from such an unexpected source.

Moyo’s new book, How the West Was Lost: Fifty Years of Economic Folly—and the Stark Choices Ahead, may be rather less welcome to Western audiences. The 42-year-old Zambian argues that we have become feckless, overborrowed, and obsessed with consumer goods. Our governments have fed our foolishness with policies that meant well but ended badly. Meanwhile China and the other emerging economies, which she dubs “the Rest,” have been catching up fast and have so far made few of the same mistakes. At the end of the book, she controversially floats the possibility of the U.S. defaulting on its debt. Den Rest des Beitrags lesen »

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