Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Project Syndicate’

The Survival of Democracy in Central and Eastern Europe

Posted by hkarner - 21. Oktober 2019

Sławomir Sierakowski, founder of the Krytyka Polityczna movement, is Director of the Institute for Advanced Study in Warsaw and Senior Fellow at the German Council on Foreign Relations.

Following parliamentary elections in Poland and local elections in Hungary, populist autocrats in both countries remain in power, where they will continue to undermine democratic institutions. Even so, relative victories for opposition forces in both countries show that the region’s „illiberal democrats“ are not unbeatable.

WARSAW – Is populism in Central and Eastern Europe finally losing its momentum? In Poland, opposition parties won the Senate, and the ruling Law and Justice (PiS) party’s share of the vote slipped to 43.7%, from 45.5% in European Parliament elections this past May. And in Hungary’s local elections, the opposition retook power in Budapest and won mayoral races in ten other cities.

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Eine Scorecard zur Beendigung des kurzfristigen Denkens

Posted by hkarner - 20. Oktober 2019

Klaus Schwab

Klaus Schwab is Founder and Executive Chairman of the World Economic Forum.

GENF – Die Angst vor einer weltweiten Rezession, der Handelskrieg zwischen den USA und China, die Auswirkungen des Brexit und ein gefährlicher Schuldenüberhang sorgen für eine der stressreichsten Phasen seit einem Jahrzehnt. Gleichzeitig stehen langfristige Ziele, wie die Umsetzung der Nachhaltigkeitszielen bis 2020, die Umsetzung des Pariser Klimaabkommens bis 2050 und der Umbau des Wirtschaftssystems für die nächsten 50 Jahre, an. 

Um ein langristiges Denken anzuregen, braucht es eine Neuorientierung. Dazu drei Vorschläge:Zunächst müssen wir den wirtschaftlichen Bezugsrahmen ändern. 75 Jahre lang stand das Bruttoinlandsprodukts (BIP) im Zentrum und die Volkswirtschaften dienten als Werkzeug zur Mobilisierung der Produktion für den Krieg. Gegenwärtig aber ist die Maximierung von nachhatligem Wohlstand das Ziel und es braucht alternative Messgrössen.Eine Gruppe von Ökonomen aus der Privatwirtschaft, Hochschulen und internationalen Einrichtungen, (u.a. Diane Coyle und Mariana Mazzucato) haben das „Wealth Project“ (Wohlstandsprojekt), aufbauend auf Weltbank-Ansätzen, entwickelt. Den Rest des Beitrags lesen »

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Will Trump Be Removed from Office?

Posted by hkarner - 18. Oktober 2019

Date: 16-10-2019
Source: by Elizabeth Drew

Elizabeth Drew is a Washington-based journalist and the author, most recently, of Washington Journal: Reporting Watergate and Richard Nixon’s Downfall.

Assuming the US House of Representatives votes to impeach President Donald Trump, the fact remains that there are far fewer votes in the Senate than will be needed to convict him and remove him from office. But the willingness of Congress – including the Senate – to continue tolerating his dangerous conduct is now truly in question.

WASHINGTON, DC – For the first time, reasonable people in the United States have begun to speculate that President Donald Trump could be convicted by the Senate and thus removed from office. The likelihood may still seem low, but Trump’s position is weakening, and opinion polls are steadily moving against him. It is widely assumed that the House of Representatives will vote to impeach him, sending the question of his presidency to the Senate, where a two-thirds vote is needed and Republicans hold a majority. Den Rest des Beitrags lesen »

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The Coming AI Springa

Posted by hkarner - 15. Oktober 2019

James Manyika

James Manyika is Chairman of the McKinsey Global Institute and a senior partner in McKinsey & Company’s San Francisco Office.

Jacques Bughin is a director of the McKinsey Global Institute and a McKinsey senior partner based in Brussels.

Artificial intelligence can generate tremendous value for us all, if policymakers and businesses act swiftly and smartly to capture its full benefits and mitigate the inevitable risks. The long-awaited “AI spring” may finally be arriving, but we will need to be prepared to manage its onset with care.

LONDON – Artificial intelligence (AI) is all around us, generating excitement about how it could increase prosperity and transform our lives in multiple ways. Yet the technology is also likely to be disruptive. Policymakers and businesses must therefore try to capture the full value of what AI has to offer, while avoiding the downside risks.

The idea of AI has been around for more than a half-century, and we have lived through previous periods of excitement followed by long stretches of disappointment – “AI winters” – when the tech didn’t live up to the hype. But recent progress in AI algorithms and techniques, combined with a massive increase in computing power and an explosion in the amount of available data, has driven significant and tangible advances, promising to generate value for individuals, businesses, and society as a whole. Den Rest des Beitrags lesen »

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How China Can Reach its Centennial Goal

Posted by hkarner - 15. Oktober 2019

Zhang Jun is Dean of the School of Economics at Fudan University and Director of the China Center for Economic Studies, a Shanghai-based think tank.

The focus on exports has undoubtedly served China well over the last four decades. But the key to achieving President Xi Jinping’s goal of creating a “great modern socialist country” by 2049 will be unleashing the potential of China’s domestic market, especially by eliminating institutional barriers to the growth of private enterprises.

SHANGHAI – Two years ago, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. To achieve this ambitious goal, China will need to secure another three decades of strong economic performance and inclusive development. The question is how.

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The Path to Climate Safety

Posted by hkarner - 10. Oktober 2019

Jeffrey D. Sachs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, is Director of Columbia’s Center for Sustainable Development and of the UN Sustainable Development Solutions Network. His books include The End of Poverty, Common Wealth, The Age of Sustainable Development, Building the New American Economy, and most recently, A New Foreign Policy: Beyond American Exceptionalism.

The global toll from weather-related disasters in 2018 was more than $200 billion, and annual losses in the United States alone averaged around $100 billion during 2014-18. And the latest climate science tells us that there is much worse to come unless we abide by the 1.5ºC limit.

NEW YORK – The global climate agenda has been greatly clarified in recent years. We now know that Earth’s average temperature is on a path to increase by around 3º Celsius, relative to preindustrial levels, by 2100, which is twice the 1.5ºC limit targeted by the 2015 Paris climate agreement. We know that weather-related damage is rapidly mounting. We know that to stay below the 1.5ºC threshold, we need to reach zero net greenhouse-gas emissions by 2050, with net negative emissions thereafter. And we know that reaching net-zero emissions by 2050 is feasible and affordable. All we lack is action. 

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Wanted: A Global Green New Deal

Posted by hkarner - 10. Oktober 2019

Joseph E. Stiglitz, University Professor at Columbia University, is the co-winner of the 2001 Nobel Memorial Prize, former chairman of the President’s Council of Economic Advisers, and former Chief Economist of the World Bank. His most recent book is People, Power, and Profits: Progressive Capitalism for an Age of Discontent.

To live within our planetary means, we will have to change many aspects of how we live – how we organize our economies, our cities, and our transportation, energy, housing, and food systems. The good news is that most of the world now recognizes this; the bad news is that its largest polluter does not.

NEW YORK – Nearly a quarter-century ago, I was a lead author on “Climate Change 1995 – A Report by the Intergovernmental Panel on Climate Change.” In that report, we made one big mistake: we should have sounded the alarm louder. But we lacked the overwhelming evidence that we have today concerning the pace and consequences of climate change, so we didn’t fully anticipate the extreme weather events that have had such devastating effects on our planet and on our lives and property. 

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Mobilizing for a Climate Moonshot

Posted by hkarner - 10. Oktober 2019

Mariana Mazzucato is Professor of Economics of Innovation and Public Value and Director of the UCL Institute for Innovation and Public Purpose (IIPP). She is the author of The Value of Everything: Making and Taking in the Global Economy, which was shortlisted for the Financial Times-McKinsey Business Book of the Year Award.

Governments can accomplish remarkable things when they have not been hollowed out in the name of misguided „free-market“ ideology. Now that humankind is confronting the existential challenge of climate change, our survival depends on reclaiming the public spirit of the Apollo program – and the hope it inspired.

LONDON – The of the first Moon landing in July reinforced an important lesson: one of humankind’s greatest feats occurred when imagination, common purpose, and a systemic approach to problem solving won out over siloed thinking and anxiety about where the money would come from. As US President John F. Kennedy made clear in 1961, going to the moon would cost money and entail risks, but it would be well worth it. 

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The Eurozone’s 2% Fixation

Posted by hkarner - 8. Oktober 2019

Daniel Gros is Director of the Centre for European Policy Studies.

The European Central Bank’s inflation target of “below, but close to, 2%” currently dominates economic policymaking in the eurozone. Moreover, the idea that this target supersedes the bloc’s fiscal rules seems to be gaining ground – with potentially worrying implications for financial stability.

BRUSSELS – Economic policy discussions in Europe used to be dominated by the number three, namely the 3%-of-GDP upper limit on national fiscal deficits. Although the fiscal rules enshrined in the Maastricht Treaty were in fact much more complex, public debate tended to focus on the 3% figure, especially when deficits ballooned during the euro crisis nearly a decade ago.

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Can the US and China Make a Deal?

Posted by hkarner - 8. Oktober 2019

Kevin Rudd

Kevin Rudd, a former prime minister of Australia, is President of the Asia Society Policy Institute in New York.

Driven by domestic nationalist forces and the need to save face, US President Donald Trump and his Chinese counterpart, Xi Jinping, have continued to escalate the bilateral trade war, despite their shared interest in resolving it before the end of the year. To make a deal, both sides need to start taking substantive steps immediately.

NEW YORK – Now that the celebrations marking the 70th anniversary of the founding of the People’s Republic of China are over, it is time to direct attention back to the Sino-American trade war. That conflict may well be about to enter its endgame. Indeed, the next round of negotiations could be the last real chance to find a way through the trade, technology, and wider economic imbroglio that has been engulfing both countries.

Failing that, the world should start preparing for its rockiest economic ride since the 2008 global financial crisis. Den Rest des Beitrags lesen »

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