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"GE" | Global Economy - Küresel Ekonomi
Actual news, comments, reports and links about the "global economy" - "Küresel ekonomi" hakkında haber, yorum, rapor ve bağlantılar
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Heads they win: A new measure shows the financial sector’s expanding share of the economy

Heads they win: A new measure shows the financial sector’s expanding share of the economy | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

A new measure shows the financial sector’s expanding share of the economy

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Eli Levine's curator insight, June 25, 2014 11:10 AM

So basically, we don't produce as much as we did.  All the profits from the companies seem to have been shunted into the banks where it accumulates wealth upon itself without actually generating any value for the actual economy or the society in which the profits are being realized.

 

In order to have growth in an economy, you need to do more than simply have earned net profit accumulate more profit upon itself.  You've got to pay out that wealth to workers who will then go out and spend the money that they earn on goods and services, which will then create a feedback loop, provided that workers are continuously paid according to how much profit they produce through their labor.  I'm for a minimum wage, but not a living minimum wage.  I'm for profit sharing, such that the larger companies who employ most of the people in the economy and generate the most amount of profit have to kick chunks of that extra wealth down to their workers rather than simply allow things to accumulate at the top.  Trickle down is absolute bunk empirically, I don't know how it is that we still use that as a model (except for the fact that Liberal and Conservative elites have been co-opted into the Capitalist circles of wealth, power, and corruption.

 

You want to see real growth; the production of real well being?  Try paying your workers more than sub-subsistence wages when they produce massive amounts of profit.  Then, watch what happens.

 

Stupid, corrupt economists.  Idiot corrupt politicians and policy-makers.

 

Think about it.

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This map shows which export makes your country the most money

This map shows which export makes your country the most money | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Australia makes the most money from coal. Who knew?

 

Using data from the CIA Factbook, we labeled every country in the world by its highest valued export, a.k.a. the commodity that makes the country the most money in the global market. Click on any of the maps below to see an enlarged version. 

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Eli Levine's curator insight, June 23, 2014 11:41 AM

Very cool and interesting.

 

Think about it.

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Betrug: Deutsche Firmen fast so korrupt wie nigerianische

Betrug: Deutsche Firmen fast so korrupt wie nigerianische | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
90 Prozent der Manager in Nigeria halten Bestechung für üblich, in Ägypten sind es sogar 100 Prozent. Deutsche Chefs hingegen glauben: Unsere Betriebe sind sauber. Die Realität ist eine ganz andere.
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In A Sea Of Money Printing, What Happened To All The Liquidity?

In A Sea Of Money Printing, What Happened To All The Liquidity? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Volatility is depressed, micro dominates and as Goldman notes several of the key emerging themes of the last few years have lost their discovery value.
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"The Illusion of Choice": Diese zehn Konzerne lenken Ihren Einkaufswagen

"The Illusion of Choice": Diese zehn Konzerne lenken Ihren Einkaufswagen | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Sie denken, Sie hätten im Supermarkt die Auswahl zwischen Produkten unzähliger Hersteller? Falsch! In Wahrheit sind es gerade zwei Handvoll Konzerne, die bestimmen, was in Ihrem Einkaufswagen landet. Zumindest zeigt das die erstaunliche Grafik eines Unbekannten.
Aykut Kibritçioğlu's insight:

Alış-Veriş Tercihlerimizi Yönlendiren 10 Büyük Şirket:

http://www.focus.de/finanzen/news/mars-coca-cola-unilever-nestle-diese-zehn-konzerne-lenken-ihren-einkaufswagen_id_3906710.html ;…

("The Illusion of Choice")

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How the Recession Reshaped the Economy, in 255 Charts

How the Recession Reshaped the Economy, in 255 Charts | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Five years since the end of the Great Recession, the private sector has finally regained the nine million jobs it lost. But not all industries recovered equally.
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Families Struggling to Afford Food in OECD Countries

Families Struggling to Afford Food in OECD Countries | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
The number of residents struggling to afford food in OECD countries has risen over the past six years, especially among people with children.
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Why Are We So Busy?

Why Are We So Busy? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

Since the 1930s, U.S. G.D.P. has grown, in real terms, by a factor of sixteen. Why hasn’t that wealth translated into more leisure time?

 

Once, we were warned about a future of overabundant leisure. Now we’re busy complaining about being busier than ever.


Illustration by Nishant Choksi.



Via Kenneth Mikkelsen
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10 years EU enlargement anniversary: Waltzing past Vienna

10 years EU enlargement anniversary: Waltzing past Vienna | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

Since their EU accession, Warsaw, Bratislava and Prague have overtaken Vienna in terms of GDP per capita, but regional divergence has widened.


Since their accession to the European Union ten years ago, something extraordinary has has been going on in the central European capitals. Measured in purchasing power standards (PPS), Warsaw, Bratislava and Prague now have a higher GDP per capita than Vienna. The Österreichs Kaiserstadt has been the reference point for central European countries for centuries – and a reference point now too, due to geographical closeness and strong trade and financial links.

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The benefits of Brentry: Eurosceptics may be hugely underestimating the value of membership of the European Union

The benefits of Brentry: Eurosceptics may be hugely underestimating the value of membership of the European Union | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
THIS week the Institute for Economic Affairs, a British think-tank, awarded a prize of €100,000 ($138,000) for the most compelling plan for a British withdrawal...
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Globalization and the Textile Industry

"On the 100th anniversary of the Triangle Shirtwaist Factory Fire, little has changed in the global sweatshop economy. Workers are again trapped and burned to death behind locked exit gates."


Via Seth Dixon
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Courtney Barrowman's curator insight, April 24, 2014 11:28 AM

unit 6

Danielle Bellefeuille's curator insight, May 10, 2014 6:16 PM

The sad reality of the new division of labor, we are moving backwards instead of forwards with labor policies and widening the gap between core and periphery countries. We need to stand up and advocate for fair trade. These countries rely on us for sources of unemployment, and we need to give them better wages, safer working conditions, and help them push pass this dependency, and grow into more economically and socially strong countries.

 

http://www.laborrights.org

Michael Mazo's curator insight, December 10, 2014 8:03 PM

The triangle shirtwaist factory in New York was a revolutionary turning point in labor regulations. Following this unfortunate event there had been many rules and laws that took effect in order to help the working people in factories and other harmful work places. The textile industry had been such an impact on globalization because this product had been so greatly treasured that countries all around the world were getting their fair share of producing a good that was in such high demand and through the use of globalization transport created an higher demand for textiles. Although, the boom of the textile industry came with the sacrifice of innocent civilians who worked endlessly just to feed their family. Regulations and legislation have to be put into effect to protect our people and our economy. 

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UNFPA - How Has the World Changed in the Last 20 Years?

UNFPA - How Has the World Changed in the Last 20 Years? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
The world has seen progress since the 1994 Cairo conference – but not enough. 

UNITED NATIONS, New York – Twenty years ago, the international community gathered in Cairo, Egypt, to explore how the world was changing and how those changes were affecting the most vulnerable. At the 1994 meeting, the International Conference on Population and Development (ICPD), the world agreed that population issues – including voluntary family planning, maternal and child health, migration, and gender equality – are not just about counting people, but about making sure that every person counts.

 

At the conference, 179 governments signed on to the ICPD Programme of Action, which recognizes that women, their rights and equality are global development priorities. The governments committed to: providing universal access to voluntary family planning, sexual and reproductive health services and rights; delivering gender equality and equal access to education; addressing the impacts of urbanization and migration; and supporting sustainable development.

Today, the world is very different, transformed by the digital revolution and advances in medicine and human knowledge. But has it changed in the ways we hoped it would?

 
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Amount of Skyscrapers / Buildings above 70 m

Amount of Skyscrapers / Buildings above 70 m | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

Amount of Skyscrapers/Buildings above 70 m

http://www.reddit.com/r/MapPorn/comments/224ity/amount_of_skyscrapersbuildings_above_70m_1200x1142/

http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Europe

 

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Three Economic Indicators That May Regain Focus in Policy Debate and Outlook

Three Economic Indicators That May Regain Focus in Policy Debate and Outlook | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
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The Financial Crisis and the Free Market Cure: Why Pure Capitalism Is the World Economy's Only Hope

The Financial Crisis and the Free Market Cure: Why Pure Capitalism Is the World Economy's Only Hope on Amazon.com. *FREE* shipping on qualifying offers.
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Who will win the Competitiveness World Cup?

Who will win the Competitiveness World Cup? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
The 2014 FIFA World Cup is being held in Brazil between 12 June and 13 July.
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Konut Sektöründe “Fiyat Köpüğü” veya Kriz Oluşum Göstergeleri Nelerdir?

Konut Sektöründe “Fiyat Köpüğü” veya Kriz Oluşum Göstergeleri Nelerdir? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

Amerika Birleşik Devletleri’nde 2006-2010 yıllarında yaşanan finansal krizden ve onu takiben oluşan “Büyük Küresel Durgunluk”‘tan bu yana konut sektöründeki fiyat gelişmeleri yaygın bir biçimde mercek altına alındı. Türkiye’de veya dünyanın diğer herhangi bir ülkesinde konut sektöründe oluşacak bir “fiyat balonu veya kabarcığı”nın göstergeleri neler olabilir? Sadece nominal (veya reel) konut fiyat endekslerini izlemek yeterli midir? Her büyük konut fiyatı artışı tehlikeli midir? Aşağıdaki kaynaklarda, bu konudaki bazı önemli tanım ve göstergeler hakkında yararlı ipuçları bulacaksınız: ...

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Londra'da evsizlere karşı çivili önlem!

Londra'da evsizlere karşı çivili önlem! | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
İngiltere'nin başkenti Londra'da kaldırımlarda ve apartman girişlerinde evsizlerin yatıp kalkmalarını önlemek amacıyla geliştirilen çivili önlem büyük tepki topluyor.
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US poverty rate, actual and simulated, 1959 – 2012 (graph)

US poverty rate, actual and simulated, 1959 – 2012 (graph) | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
from David Ruccio One of the points Thomas Piketty makes in his new book is that mainstream economists enshrined as “laws” of capitalist development certain “facts” that only had relevance during t...
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The Whole Economy Is Rife with Ponzi Schemes

The Whole Economy Is Rife with Ponzi Schemes | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Many ordinary business practices resemble the infamous con game

 

The Ponzi scheme has been a recurring fixture of economic life in rich and poor nations at least since the 19th century, creating a few millionaires and ruining the lives of millions. Yet most people have only a vague idea of what they are, which may explain why so many continue to fall for their strange and almost mystical allure. This topic, of course, has acquired a certain urgency because of the recent global financial crisis and headlines about the Bernard Madoff scandal, the biggest ever Ponzi scam, which occurred at the height of the turmoil.

 

Anyone who followed the Madoff debacle probably thinks about Ponzis as being deliberately concocted frauds. Instead of using investor money to fund a productive business venture, the con artist channels the proceeds from new investors to pay interest to earlier ones. But economists have started to realize that this type of behavior can also occur spontaneously, even unconsciously, simply by having one expectation feed on another, creating a frenzy of speculation, an inflating economic bubble that is doomed to eventually crash.

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Understanding ASEAN: Seven things you need to know

Understanding ASEAN: Seven things you need to know | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Southeast Asia is one of the world’s fastest-growing markets—and one of the least well known. A McKinsey & Company article.
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Selected Readings on Thomas Piketty's "Capital in the 21st Century" and the Discussions about its Methodological / Empirical Relevance & Possible Effects on Economics (or Economic Policies)

Selected Readings on Thomas Piketty's "Capital in the 21st Century" and the Discussions about its Methodological / Empirical Relevance & Possible Effects on Economics (or Economic Policies) | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
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Eli Levine's curator insight, April 30, 2014 9:38 AM

In short, as people on the top make more money, more wealth becomes available to be placed into capital markets as opposed to earned income or other productive work.

 

Whoever told you that bankers and investors like risk is telling you a lie, since most of the wealth seems to get funneled into low-risk money market and savings accounts which then aren't used for investing in real projects.  The banks and the stock markets do great, while everyone else gets left behind economically and environmentally.

 

Hopefully society will be able to correct and compensate for these problems through its members' influence on the government institutions.  If peaceful democratic methods fail to get people what they need, then all Hell is likely to break lose on the rich, should conditions change for the worse or remain abjectly mediocre for a majority of people.  The anger and frustration is real and the environment is changing for our worse due to our economic activity.  It really should not be discounted or rationalized away by the bankers, investors and executives who own most of everything, if they're acting in their own actual self interests within the context of our society and our environment that we all need to survive.

 

A shame that so many people who are so inept at basic survival skills reach places of such great influence in our social worlds.

 

Think about it.

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"The Growing Divide Within Developing Economies"
(Dani Rodrik examines why informal and traditional sectors are expanding, rather than shrinking.)

"The Growing Divide Within Developing Economies"<br/>(Dani Rodrik examines why informal and traditional sectors are expanding, rather than shrinking.) | "GE" | Global Economy - Küresel Ekonomi | Scoop.it
Look around the developing world and you will see a bewildering fissure opening up between economies' leading and lagging sectors. Worse, in many developing countries, the share of employment in these low-productivity sectors is expanding.
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G20 gives US ultimatum over IMF reform

G20 gives US ultimatum over IMF reform | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

The G20 has given an ultimatum to the US to pass reforms to the International Monetary Fund or risk being left out of new changes.

 

Finance ministers in Washington for the spring meetings of the IMF and World Bank said they were “deeply disappointed” by failure to implement changes agreed in 2010, and gave the US until the end of the year to do so.

 

The communique highlights how growing frustration with the US for holding up reform is threatening its economic influence and predominance at the institution which governs the global financial system.

 

“We are committed to maintaining a strong and adequately resourced IMF,” says the communique. “If the 2010 reforms are not ratified by year-end, we will call on the IMF to build on its existing work and develop options for next steps.”

 

The US is the sole roadblock to completing the IMF reforms. The Obama administration supports the changes but has been unwilling to meet the high political price demanded by Republicans to get them through Congress.

 

The changes would double the IMF’s quota – in effect its equity capital – to $720bn; shift six percentage points of total quota to emerging markets; and move two of the 24 IMF directorships from European to developing countries.

 

Despite the ultimatum, it is not clear what next steps the G20 could take, since the US has a blocking minority of votes at the fund – which is the reason its inaction has delayed the reforms in the first place.

Emerging markets have grown more and more frustrated, as their current quota does not represent their growing weight in the world and economy, and they believe the IMF was too ready to offer loans to eurozone countries on terms that would not have been extended to poorer nations.

 

Otherwise, the G20 finance ministers agreed little of substance, mainly repeating a call for structural reforms and investment to promote growth.

 

The communique says the G20 is “committed to developing new actions” that “lift and rebalance global demand and achieve exchange rate flexibility”. However, it does not single out any issue such as renewed currency intervention in China, and emerging current account surplus, or emerging market concerns about the US Federal Reserve's exit from easy monetary policy.

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What drives the German current account? And how does it affect other EU member states?

What drives the German current account? And how does it affect other EU member states? | "GE" | Global Economy - Küresel Ekonomi | Scoop.it

We estimate a three-country model using 1995-2013 data for Germany, the Rest of the Euro Area (REA) and the Rest of the World (ROW) to analyze the determinants of Germany’s current account surplus after the launch of the Euro. The most important factors driving the German surplus were positive shocks to the German saving rate and to ROW demand for German exports, as well as German labour market reforms and other positive German aggregate supply shocks.  The convergence of  REA interest rates to German rates due to the creation of the Euro only had a modest effect on the German current account and on German real activity. The key shocks that drove the rise in the German current account tended to worsen the REA trade balance, but had a weak effect on REA real activity. Our analysis suggests these driving factors are likely to be slowly eroded, leading to a very gradual reduction of the German current account surplus. An expansion in German government consumption and investment would raise German GDP and reduce the current account surplus, but the effects on the surplus are likely to be weak.

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