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Abe’s Arrows of Growth Dulled by Japan’s Three Principles

Abe’s Arrows of Growth Dulled by Japan’s Three Principles | economic | Scoop.it
As Japan’s economy fell into recession last year, Yoichi Uehara wanted to save money at his family firm. Firing workers wasn’t an option: Under Japan’s labor laws, that would have increased costs, not cut them.
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I DO NOT agree with him.

His three principles are sleffish and harm others to benefit oneself.

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Beijing Auto’s Acquisition Push Abroad to Begin in Europe

Beijing Auto’s Acquisition Push Abroad to Begin in Europe | economic | Scoop.it
Beijing Automotive Group Co., which manufactures vehicles with Daimler AG and Hyundai Motor Co. in China, started a unit today to spearhead acquisitions abroad, starting with Europe.
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China, euro zone threaten US-led economic recovery - Reuters

China, euro zone threaten US-led economic recovery - Reuters | economic | Scoop.it
Economic Times China, euro zone threaten US-led economic recovery Reuters Meanwhile, Markit's Flash Eurozone Composite PMI, which makes up around 85 percent of the final reading and is seen as a reliable economic growth indicator for the bloc,...
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Really!!!

Let's check it out

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UT: Salt Lake-Utah county line a wellspring of economic vitality | Salt Lake Tribune

UT: Salt Lake-Utah county line a wellspring of economic vitality | Salt Lake Tribune | economic | Scoop.it

In northern Utah County, hundreds of workers at IM Flash Technologies turn the silicon in common sand into speedy, power-efficient flash memory chips that store songs, photos, documents and other data in mobile phones, cameras and tablets.

 

Just up the road, in Salt Lake County, eBay unwrapped its new 240,000-square-foot Draper campus last month. The buildings accommodate 1,800 people who carry out customer service, software development, human resources and legal and accounting work for the e-commerce giant.

 

IM Flash and eBay are near Point of the Mountain, the east-west range that separates Salt Lake and Utah counties. It is here where a substantial chunk of Utah’s economic vitality is being created.

 

From 10600 South in Salt Lake County to Provo in Utah County, employers have created 24,000 jobs since 2010 — about 35 percent of the 67,300 jobs added statewide in that short time, according to the state Department of Workforce Services. Many, perhaps most, are skilled jobs of the kind Utah economic developers covet and that have made the state a star in the firmament of U.S. high-tech, while generating big changes in everything from housing availability to transportation choices.

 

It wasn’t always so.

 

Twenty years ago, Lehi was a sleepy farming community at the north end of Utah Valley. Draper, 10 miles away at the south end of Salt Lake Valley, wasn’t much different. But as developers know, some of the most desirable land lies at equal distances between two metropolitan areas. So, with Provo to the south and Utah’s capital to the north, Lehi, Draper and the real estate around the county line between them were bound to grow, sooner or later.

 

"I can tell you that it’s been branded as a technology corridor," said Stan Lockhart, government-affairs manager at IM Flash, the 1,600-employee joint venture between Intel Corp., the world’s top semiconductor company, and Micron Technology, a memory chipmaker based in Boise.

 

"When Micron came to town 15 years ago, it wasn’t that way," Lockhart said. "But as a whole variety of companies have come since then, it’s kind of evolved, and now today there is just kind of a general recognition" that the area is the vibrant core of Utah’s bustling technology industry.

 

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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Gold Trade Most Bearish Since ’10 as Fed Spurs Drop: Commodities

Gold Trade Most Bearish Since ’10 as Fed Spurs Drop: Commodities | economic | Scoop.it
Gold traders are the most bearish in 3 1/2 years after prices fell to the lowest since 2010 following Federal Reserve Chairman Ben S. Bernanke’s comments that the central bank may start curbing stimulus.
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should I buy some???

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Index of Leading Indicators in U.S. Rises Less Than Forecast

Index of Leading Indicators in U.S. Rises Less Than Forecast | economic | Scoop.it
The index of U.S. leading indicators rose less than projected in May, a sign the world’s largest economy may take time to accelerate.
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number cannot tell us everything!!!

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U.S. Stocks Fall as Bernanke Says Fed May Pare Stimulus

U.S. Stocks Fall as Bernanke Says Fed May Pare Stimulus | economic | Scoop.it
U.S. stocks fell, after a two-day rally in the Standard & Poor’s 500 Index, as Federal Reserve Chairman Ben S.
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Education And Skills At Heart Of US Economic Inequality | Forbes.com

Education And Skills At Heart Of US Economic Inequality | Forbes.com | economic | Scoop.it

Blame the rising income inequality in the U.S. on the “earnings gap between skilled and unskilled workers,” says Harvard economist and former chief economic adviser to President George W. Bush, N. Gregory Mankiw in a forthcoming article, “Defending the One Percent,” in the Journal of Economic Perspectives, but available on the Internet now.

 

The increased demand for skilled labor is resulting from the fast changing skill-biased technological changes coursing through the global economy. Mankiw generously credits this conclusion to the views advanced in a 2008 study, ” The Race Between Education and Technology,” by Claudia Goldin and Lawrence Katz.

 

“Society can offset the effect of this demand shift by increasing the supply of skilled labor at an even faster pace, as it did in the 1950s and 1960s. In this case, the earnings gap need not rise and indeed, can even decline, as in fact occurred,” Mankiw writes. “But when the pace of educational advance slows down, as it did in the 1970s, the increasing demand for skilled labor will naturally cause inequality to rise. The story of rising inequality, therefore, is not primarily about politics and rent-seeking but rather about supply and demand.” That is supply and demand for “STEM” talent, those with advanced degrees in science, technology, engineering and mathematics, which we are all aware is very tight supply and dominated by foreign students.

 

In fact, the proof of this income inequality can be pictured in a U-shaped curve, which shows the income share of the top 1 percent falling from the 1950s to the 1970s and then rising from the 1970s to the present. You can see this pattern clearly in the earnings differential trend between skilled and unskilled workers.

 

“If Goldin and Katz are right that the broad changes in inequality have been driven by the interaction between technology and education… it “seems that changes in technology have allowed a small number of highly educated and exceptionally talented individuals to command superstar incomes in ways that were not possible a generation ago,” writes Mankiw.

 

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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Stem Specialist's curator insight, June 27, 2013 10:27 AM

I only hope the powers that be see fit to alleviate the financial burden on young people who make attempts to obtain the skills needed.

Bail outs for banks and big business but none for hard working students. Something is wrong.