Free trade and inequality
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The Crisis of Progressive Neoliberalism

The Crisis of Progressive Neoliberalism | Free trade and inequality | Scoop.it
Nancy Fraser - How should we understand the crisis of the current moment? Is the election of President Trump a temporary aberration or does it reflect deeper political trends—both in the United States and elsewhere? In a recently published essay in American Affairs, I argue that the defining features of Trump’s agenda did not come out…
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Internet Giants Face New Political Resistance in Washington

Internet Giants Face New Political Resistance in Washington | Free trade and inequality | Scoop.it
Facebook, Google and Amazon are coming under increasing pressure by regulators concerned about their growing power.
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Global flows in a digital age | McKinsey & Company

The movement of goods and services, finance, and people has reached previously unimagined levels. Global flows are creating new degrees of connectedness among economies--and playing an ever-larger role in determining the fate of nations, companies, and individuals. To be unconnected is to fall behind.
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How do you govern a disrupted world? | McKinsey & Company

How do you govern a disrupted world? | McKinsey & Company | Free trade and inequality | Scoop.it
Seismic economic shifts are placing new demands on governments globally. In this excerpt from the new book No Ordinary Disruption: The Four Global Forces Breaking All the Trends, its authors explain how policy makers can respond.
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Monopolist behavior - Kommentar: Når Falcks blå blink bliver en samfundsskadelig affære

Kommentar: Med særdeles uortodokse metoder har Falck gang på gang forsvaret sit monopol. Men fremfærden er uacceptabel, for gevinsten ender hos Falcks ejere, mens skatteyderne betaler regningen.
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Neoliberalism: the deep story that lies beneath Donald Trump’s triumph | George Monbiot

Neoliberalism: the deep story that lies beneath Donald Trump’s triumph | George Monbiot | Free trade and inequality | Scoop.it
Those who tell the stories run the world. Politics has failed through a lack of competing narratives. The key task now is to tell a new story of what it is to be a human in the 21st century. It must be as appealing to some who have voted for Trump and Ukip as it is to the supporters of Clinton, Bernie Sanders or Jeremy Corbyn.

A few of us have been working on this, and can discern what may be the beginning of a story. It’s too early to say much yet, but at its core is the recognition that – as modern psychology and neuroscience make abundantly clear – human beings, by comparison with any other animals, are both remarkably social and remarkably unselfish. The atomisation and self-interested behaviour neoliberalism promotes run counter to much of what comprises human nature.

Hayek told us who we are, and he was wrong. Our first step is to reclaim our humanity.
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How Far Should We Push Globalisation?

How Far Should We Push Globalisation? | Free trade and inequality | Scoop.it
A more fundamental issue that arises here and which has not sufficiently been addressed in the discussions around CETA has to do with the question of  how far we should push globalization?
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VERTEILUNGSKAMPF – Warum Deutschland immer ungleicher wird

VERTEILUNGSKAMPF – Warum Deutschland immer ungleicher wird | Free trade and inequality | Scoop.it
In der deutschen Marktwirtschaft wird mit gezinkten Karten gespielt – wirklichen marktwirtschaftlichen Wettbewerb gibt es immer weniger. Die neue deutsche Marktwirtschaft zeigt ihr wahres Gesicht in einer stark zunehmenden Ungleichheit. In kaum einem Industrieland der Welt sind vor allem Chancen, aber auch zunehmend Vermögen und Einkommen ungleicher verteilt als in Deutschland. Diese Ungleichheit stellt nicht nur ein gesellschaftliches, sondern ein massives wirtschaftliches Problem dar. Sie schwächt unser Wachstum, verhindert mehr Investitionen und bessere Jobs. Dieser Schaden ist eine Realität, die Deutschland vor riesige Herausforderungen stellt.
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Sundaram: The Trans-Pacific Shell Game

Sundaram: The Trans-Pacific Shell Game | Free trade and inequality | Scoop.it
The TPP’s advocates have, for years, been grossly exaggerating the deal’s projected benefits, while downplaying its potentially high risks and costs, most of which will be incurred by ordinary citizens. The reality is that the TPP will have a barely perceptible impact on GDP, benefit large corporations almost exclusively, and significantly constrain the policy space governments need to accelerate economic development and protect the public interest. Some partnership that is.
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Gastbeitrag: Die neue Macht der Fondsgesellschaften

Gastbeitrag: Die neue Macht der Fondsgesellschaften | Free trade and inequality | Scoop.it
Weil große Vermögensverwalter Hunderte oder sogar Tausende Unternehmen in ihrem Portfolio führen, identifizieren sie sich nicht mit „ihrer“ Firma, wie es Adam Smiths Bäcker mit seiner Bäckerei getan hat. Sie interessieren sie sich nicht einmal für die Gewinne oder Risiken eines einzelnen Unternehmens. Relevant ist vielmehr der Wert ihres gesamten Portfolios. Wenn die Vermögensverwalter breit in einer Branche investiert haben, wird dieser aber nicht einfach dadurch maximiert, dass jedes Portfolio-Unternehmen egoistisch und aggressiv seinen eigenen Gewinn maximiert. Der Gewinn einer ganzen Branche ist im Gegenteil dann am größten, wenn der Drang jedes einzelnen Unternehmens, den anderen Unternehmen in derselben Branche Konkurrenz zu machen, wirksam ausgeschaltet wird.
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Devisenskandal: HSBC-Manager in New York festgenommen

Devisenskandal: HSBC-Manager in New York festgenommen | Free trade and inequality | Scoop.it
Ein ranghoher Manager der britischen Großbank HSBC ist in New York in Zusammenhang mit Betrugs-Ermittlungen im Devisenhandel festgenommen worden. Er und ein weiterer Manager werden den Gerichtsunterlagen zufolge beschuldigt, einen Kunden in einem 3,5 Milliarden Dollar schweren Devisengeschäft betrogen zu haben. Mark J. sei am Dienstagabend am New Yorker Flughafen John F. Kennedy verhaftet worden, sagte eine Sprecherin der US-Behörden. Die zweite Person, Stuart S., sei nicht festgenommen worden.
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New Report: Gilead Sciences Price Gouger, Tax Dodger

New Report: Gilead Sciences Price Gouger, Tax Dodger | Free trade and inequality | Scoop.it

A new investigative report finds that in the last two years Gilead Sciences has raked in billions in profits from exorbitantly priced hepatitis C medications that were developed with taxpayer dollars, and then shifted those profits to offshore tax havens where it dodges U.S. taxes.

“Gilead is making a fortune selling essential drugs to the very government and taxpayers that helped pay to develop them, and then dodging taxes on the resulting profits,” said Americans for Tax Fairness Executive Director Frank Clemente. “Congress should stop this assault on the American people’s health and pocketbooks by curbing the company’s flagrant drug-price gouging and tax dodging.”

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The History of Sears Predicts Nearly Everything Amazon Is Doing

The History of Sears Predicts Nearly Everything Amazon Is Doing | Free trade and inequality | Scoop.it
One hundred years ago, a retail giant that shipped millions of products by mail moved swiftly into the brick-and-mortar business, changing it forever. Is that happening again?
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Populism's Perfect Storm

Populism's Perfect Storm | Free trade and inequality | Scoop.it

Rogers Brubaker: ​Populism's Perfect Storm from Boston Review. The very forces that sustain populist politics could eventually undermine populism.

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The four global forces breaking all the trends | McKinsey & Company

The world economy’s operating system is being rewritten. In this exclusive excerpt from the new book No Ordinary Disruption, its authors explain the trends reshaping the world and why leaders must adjust to a new reality.
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Geopolitical role of trade deals is often overdramatised - Alan Beattie in Financial Times

Geopolitical role of trade deals is often overdramatised - Alan Beattie in Financial Times | Free trade and inequality | Scoop.it
The fear that a state-of-the-art US model will be replaced by an inferior Chinese system of rules looks overdone. Beijing does not have an extensive rival set of laws to propagate. Its favoured trade pact, the Regional Comprehensive Economic Partnership, is known to negotiators as “the stapler”. It does little more than gather together existing bilateral and regional agreements and has little content beyond cuts in goods tariffs.

The “China model” is not a new and disturbing diversion from a move towards deeper economic integration: it is essentially the status quo. If TPP does fail, the US will have fumbled a chance to liberalise some trade in services and restrain state-owned enterprises from distorting markets. But that is a missed opportunity, not a catastrophe.
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Stedman Jones, D.: Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics. (eBook and Hardcover)

Stedman Jones, D.: Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics. (eBook and Hardcover) | Free trade and inequality | Scoop.it
How did American and British policymakers become so enamored with free markets, deregulation, and limited government? This book--the first comprehensive transatlantic history of the rise of neoliberal politics--presents a surprising answer. Based on archival research and interviews with leading participants in the movement, Masters of the Universe traces the ascendancy of neoliberalism from the academy of interwar Europe to supremacy under Reagan and Thatcher and in the decades since. Daniel Stedman Jones argues that there was nothing inevitable about the victory of free-market politics. Far from being the story of the simple triumph of right-wing ideas, the neoliberal breakthrough was contingent on the economic crises of the 1970s and the acceptance of the need for new policies by the political left.

Masters of the Universe describes neoliberalism's road to power, beginning in interwar Europe but shifting its center of gravity after 1945 to the United States, especially to Chicago and Virginia, where it acquired a simple clarity that was developed into an uncompromising political message. Neoliberalism was communicated through a transatlantic network of think tanks, businessmen, politicians, and journalists that was held together by Friedrich Hayek and Milton Friedman. After the collapse of Bretton Woods in 1971, and the "stagflation" that followed, their ideas finally began to take hold as Keynesianism appeared to self-destruct. Later, after the elections of Reagan and Thatcher, a guileless faith in free markets came to dominate politics.
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Health Equity Assessment Toolkit (HEAT)

The Health Equity Assessment Toolkit (HEAT) is a software application for use on desktop or laptop computers and mobile devices (minimum screen size of 7.9 inches recommended). It was developed to facilitate the assessment of within-country health inequalities. HEAT is organized around two main components:

Explore inequality, which enables users to explore the situation in one country of interest to determine the latest situation of inequality and the change in inequalities over time.Compare inequality, which enables users to benchmark, i.e. compare the situation in one country of interest with the situation in other countries.

Inequalities can be assessed using disaggregated data and summary measures that are visualized in a variety of interactive ways, including tables and graphs. Customized results can be exported and saved in different formats.


Via Giuseppe Fattori
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Financing Healthcare - Our World In Data

Health is a fundamental driver of our overall quality of life. In this entry we focus on healthcare – one of the most important inputs to produce health. There are many other factors affecting health, and you can read more about some of them in our entries about health.

Publicly funded healthcare is a legacy of the Age of Enlightenment.1 The first examples of legislation on health insurance date back to the late 19th century.2 Data from these early systems shows that healthcare expenditure only began rising several years after the expansion of insurance coverage, with the discovery of powerful new treatments.3
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Life expectancy vs. health expenditure over time, 1970-2014

Life expectancy vs. health expenditure over time, 1970-2014 | Free trade and inequality | Scoop.it

The following graph visualizes the relationship between life expectancy and health expenditure, for a number of OECD countries across the period 1970-2014. Two points are worth mentioning. Firstly, all countries in this graph have followed an upward trajectory (life expectancy increased as health expenditure increased), but the U.S. stands out as an exception following a much flatter trajectory; gains in life expectancy from additional health spending in the U.S. were much smaller than in the other high-income countries, particularly since the mid-1980s. And secondly, the gains for all countries (except for the U.S.) were not diminishing, as in the previous graph. This suggests that there are many other factors affecting life expectancy, that are not determined by healthcare spending. Indeed, as we have pointed out before, healthcare is just one of many inputs to produce health.here to edit the content


Via Giuseppe Fattori
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Jeff French's curator insight, August 11, 2016 3:39 AM
Its not just how much you spend
Alex O. Awiti's curator insight, August 12, 2016 12:27 AM
Public investments in healthcare matter!
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A popular conspiracy theory is spreading in the Trump family. It’s totally false.

A popular conspiracy theory is spreading in the Trump family. It’s totally false. | Free trade and inequality | Scoop.it
The unemployment rate is not a conspiracy. It is not manipulated by the Bureau of Labor Statistics. And anyone who suggests otherwise is either uninformed, or trying to misinform others.

Which is to say that you shouldn't listen to Donald Trump & Co. For a year now, the alleged billionaire has insisted that the "real" unemployment rate is something like 42 percent instead of the 4.9 percent it actually is.
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Anti-Competitive Effects of Common Ownership | The Julis-Rabinowitz Center for Public Policy and Finance

Anti-Competitive Effects of Common Ownership | The Julis-Rabinowitz Center for Public Policy and Finance | Free trade and inequality | Scoop.it
In the United States, institutional investors hold between seventy to eighty percent of US publicly traded firms.  Moreover, it is common for a single institutional investor to be a major shareholder of different firms competing within the same industry. BlackRock, for example, is the largest shareholder in each of the largest three banks in the United States, while pharmacy rivals CVS and Walgreens have the exact same top five shareholders.  Could this result in anti-competitive behavior and higher prices for consumers?

According to a  study presented by Martin Schmalz, University of Michigan,  at JRCPPF’s Fifth Annual Conference the answer is a resounding yes. 
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Thanks For the M.R.E.'s - [US privatization 2003]

Thanks For the M.R.E.'s - [US privatization 2003] | Free trade and inequality | Scoop.it
Military corner-cutting is part of a broader picture of penny-wise-pound-foolish government. When it comes to tax cuts or subsidies to powerful interest groups, money is no object. But elsewhere, including homeland security, small-government ideology reigns. The Bush administration has been unwilling to spend enough on any aspect of homeland security, whether it's providing firefighters and police officers with radios or protecting the nation's ports. The decision to pull air marshals off some flights to save on hotel bills -- reversed when the public heard about it -- was simply a sound-bite-worthy example. (Air marshals have told MSNBC.com that a ''witch hunt'' is now under way at the Transportation Security Administration, and that those who reveal cost-cutting measures to the media are being threatened with the Patriot Act.)

There's also another element in the Iraq logistical snafu: privatization. The U.S. military has shifted many tasks traditionally performed by soldiers into the hands of such private contractors as Kellogg Brown & Root, the Halliburton subsidiary. The Iraq war and its aftermath gave this privatized system its first major test in combat -- and the system failed.
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G20-Gipfel: Deutschland will die globale Finanzsteuer

G20-Gipfel: Deutschland will die globale Finanzsteuer | Free trade and inequality | Scoop.it
ChengduDeutschland ergreift die Initiative für eine Besteuerung von Finanztransaktionen auf globaler Ebene. Da eine solche Steuer allein in Europa wenig bringe, machte Wolfgang Schäuble (CDU) beim Treffen der Finanzminister und Notenbankchefs der führenden Industrie- und Schwellenländer (G20) überraschend einen entsprechenden Vorstoß. Bei ihren zweitägigen Beratungen im südwestchinesischen Chengdu berieten die Top-Wirtschaftsmächte auch über die Auswirkungen des geplanten britischen Ausstieg aus der Europäischen Union und die Folgen des Putschversuches in der Türkei.
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