A January 3rd article from THE ECONOMIST, “Female Power,” focuses on women in the “rich world”. http://www.economist.com/opinion/displaystory.cfm?story_id=15174418
-More women work. In the U.S. women compose 51% of professional workers.
-Contraception makes work possible.
-The “vacuum cleaner” makes work possible.
-More women work because contemporary jobs require brain power instead of muscle power.
-The cost of motherhood is high for aspirational women.
1. With this massive shift in female responsibilities, in nations that prohibit their females from contributing professionally, what will happen to economic growth?
2. In nations with a substantial female work force, how will families respond? How will a typical U.S family look in 2020?
A January 3rd article from THE ECONOMIST, “Female Power,” focuses on women in the “rich world”. http://www.economist.com/opinion/displaystory.cfm?story_id=15174418Read More
A recent “Investor’s Business Daily” article includes a great graph. Downward sloping, the graph represents health care spending by consumers. While aggregate spending skyrockets, individuals are paying less out of pocket.
You see where this is going and what we really need to solve.
Law of Downward Sloping Demand: When price decreases, consumers are willing and able to spend more. (And when prices rises, the opposite will ocur.)Read More
Timothy Taylor, in his Teaching Company course, “America and the New Global Economy,” says that Mahatma Gandhi wanted farms and businesses to remain small so that there would be no exploitation. After Gandhi, the business climate remained unwelcoming with the “license raj”. Professor Taylor explains that the license raj meant businesses needed a plethora of licenses to start and function which retarded econmic development.Read More
Curious about the current business climate, I went to the World Bank “Doing Business” site which ranks nations for their ease of doing business:
U.S. : 6 days to implement the procedures for starting a business.
India: 195 days to implement the procedures for starting a business.
Driving to and from NYC, I have been listening to Part 2 of “America and the New Global Economy,” a Teaching Company course. Interesting in every way, the professor, Timothy Taylor, combines a general economic overview with great specific stories as he guides the listener through China, India, the Middle East, Africa and Latin America. Professor Taylor suggests that we should picture mushrooms rather than yeast when thinking of economic growth.Read More