Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Spence’

Why Globalization Stalled, And How to Restart It

Posted by hkarner - 1. September 2017

Date: 31-08-2017
Source: Foreign Affairs by Fred Hu and Michael Spence

For many decades after World War II, a broad range of countries shared a fundamental economic vision. They endorsed an
increasingly open system for trade in goods and services, supported by international institutions; allowed capital, orporations, and, to a lesser extent, people to flow freely across borders; and encouraged the rapid spread of data and  echnology. As trade expanded, global living standards improved dramatically, and hundreds of millions of people escaped from poverty.

Today, every aspect of this globalized economy is under assault. A popular backlash against free trade and unrestricted cross-border movements of capital has picked up momentum. The ideal of freely flowing information has clashed with growing calls for privacy rights, the protection of intellectual property, and increased cybersecurity. Across the developed world, sentiments have turned strongly against immigration, especially as waves of Middle Eastern refugees have
flooded Europe.
And after several successful rounds of multilateral trade negotiations in the postwar years, new agreements have become much rarer: the World Trade Organization (wto) has not completed a single full round of successful negotiations since its creation in 1995. Den Rest des Beitrags lesen »

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The Global Economy’s New Rule-Maker

Posted by hkarner - 29. August 2017

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Explaining Global Recovery Amid Political Recession

Posted by hkarner - 2. August 2017

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How to Be an Open Economy

Posted by hkarner - 23. Mai 2017

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Reprieve or Reform in Europe?

Posted by hkarner - 2. Mai 2017

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Delivering on Promises to the Middle Class

Posted by hkarner - 3. April 2017

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Europe or Anti-Europe?

Posted by hkarner - 1. März 2017

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Four Certainties About Populist Economics

Posted by hkarner - 26. Januar 2017

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Donald Trump and the New Economic Order

Posted by hkarner - 30. November 2016

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How Inequality Found a Political Voice

Posted by hkarner - 29. Oktober 2016

Photo of Michael Spence

Michael Spence

Michael Spence, a Nobel laureate in economics, is Professor of Economics at NYU’s Stern School of Business, Distinguished Visiting Fellow at the Council on Foreign Relations, Senior Fellow at the Hoover Institution at Stanford University, Academic Board Chairman of the Asia Global Institute in Hong Kong, and Chair of the World Economic Forum Global Agenda Council on New Growth Models. He was the chairman of the independent Commission on Growth and Development, an international body that from 2006-2010 analyzed opportunities for global economic growth, and is the author of The Next Convergence – The Future of Economic Growth in a Multispeed World.

OCT 28, 2016 Project Syndicate

MILAN – It took a long time for widening inequality to have an impact on politics, as it suddenly has done in recent years. Now that it is a central issue, national economic priorities will need to shift substantially to create more equitable, inclusive economies and societies. If they do not, people could embrace explosive alternatives to their current governments, such as the populist movements now sweeping many countries.

Political leaders often speak of growth patterns that unfairly distribute the benefits of growth; but then they do relatively little about it when they are in power. When countries go down the path of non-inclusive growth patterns, it usually results in disrespect for expertise, disillusionment with the political system and shared cultural values, and even greater social fragmentation and polarization. Den Rest des Beitrags lesen »

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