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Kako Ito

Public insurance and the least well-off | Lane Kenworthy - 6 views

lanekenworthy.net/surance-and-the-least-well-off

public insurance economics welfare poor nordic model universalism targeting redistribution income inequality

shared by Kako Ito on 27 Sep 15 - No Cached
  • Public insurance also boosts the living standards of the poor. It increases their income, and it provides them with services for which they bear relatively little of the cost.
  • Critics charge that public social programs tend to hurt the poor in the long run by reducing employment and economic growth. Are they correct?
  • Does public insurance erode self-reliance? Is a large private safety net as helpful to the least well-off as a large public one? Are universal programs more effective than targeted ones? Are income transfers the key, or are services important too?
  • ...17 more annotations...
  • Once again we see no indication that public insurance generosity has had a damaging effect
  • Note also that the employment rate increased in nearly all of the countries during this period. On average, it rose by nine percentage points between 1979 and 2013. That’s not what we would expect to see if generous public insurance programs were inducing large numbers of able adults to withdraw from the labor market
  • What we see in the chart is that countries with more generous public insurance programs tend to have less material deprivation.
  • With globalization, the advance of computers and robots, increased pressure from shareholders for short-run profit maximization, union weakening, and other shifts, wages have been under pressure. Couple this with the fact that many people at the low end of the income ladder have labor market disadvantages — disability, family constraint, geographic vulnerability to structural unemployment — and we have a recipe for stagnation in the market incomes of the poor.
  • here’s a good reason for these shifts: government provision offers economies of scale and scope, which reduces the cost of a good or service and thereby makes it available to many people who couldn’t or wouldn’t get it on their own.
  • Government provides more insurance now than it used to. All of us, not just some, are dependent on it. And life for almost everyone is better because of it
  • hese expenditures are encouraged by government tax advantages.22 But they do little to help people on the bottom of the ladder, who often work for employers that don’t provide retirement or health benefits.
  • To make them more affordable, the government claws back some of the benefit by taxing it as though it were regular income. All countries do this, including the United States, but the Nordic countries do it more extensively. Does that hurt their poor? Not much. The tax rates increase with household income, so much of the tax clawback hits middle- and upper-income households.
  • Another difference is that public services such as schooling, childcare, medical care, housing, and transportation are more plentiful and of better quality for the poor in the Nordic countries. Public services reduce deprivation and free up income to be spent on other needs. It’s difficult to measure the impact of services on living standards, but one indirect way is to look at indicators of material deprivation,
  • Targeted transfers are directed (sometimes disproportionately, sometimes exclusively) to those with low incomes and assets, whereas universal transfers are provided to most or all citizens.
  • Targeted programs are more efficient at reducing poverty; each dollar or euro or kroner transferred is more likely to go to the least well-off. Increased targeting therefore could be an effective way to maintain or enhance public insurance in the face of diminished resources.
  • “the more we target benefits to the poor … the less likely we are to reduce poverty and inequality.”
  • Korpi and Palme found that the pattern across eleven affluent nations supported the hypothesis that greater use of targeting in transfers yields less redistribution
  • The hypothesis that targeting in social policy reduces political support and thereby lessens redistributive effort is a sensible one. Yet the experience of the rich countries in recent decades suggests reason to question it. Targeting has drawbacks relative to universalism: more stigma for recipients, lower take-up rates, and possibly less social trust.44 But targeting is less expensive. As pressures to contain government expenditures mount, policy makers may therefore turn to greater use of targeting. That may not be a bad thing.
  • Public insurance programs boost the incomes of the least well-off and improve their material well-being. If such programs are too generous, this benefit could be offset by reduced employment or economic growth, but the comparative evidence suggests that the world’s rich nations haven’t reached or exceeded the tipping point.
  • Spending lots of money on social protection is not in and of itself helpful to the poor. Total social expenditures in the United States are greater than in Denmark and Sweden, because the US has a large private welfare state. But relatively little of America’s private social spending reaches the poor.
  • Public services are an important antipoverty tool. Their benefit doesn’t show up in income data, but they appear to play a key role in reducing material hardship. Services expand the sphere of consumption for which the cost is zero or minimal. And they help to boost the earnings and capabilities of the poor by enhancing human capital, assisting with job search and placement, and facilitating work-family balance.
  • Kako Ito on 27 Sep 15
     
    Through this article I have gained a deeper insight in how public expenditures and public goods promote wealth equality in a society. "Public services are an important antipoverty tool."
  • ...2 more comments...
  • olivialum on 29 Sep 15
     
    This article really helped me deepen my understanding of redistributing wealth downwards. I never thought about it, but things like social security, affirmative action programs, and public education are actually insurances that attempt to provide everybody with more equality when it comes to living standards as well as basic human rights.
  • samoshay on 29 Sep 15
     
    Yeah, it is a very common argument to say that social expenditures disincentives workers; interesting analysis on how wealthy countries haven't reached the "tipping point." I am curious to see what happens to labor force participation and employment in the next decades as robots further divorce economic growth from labor supply/demand.
  • charlesleesohn on 29 Sep 15
     
    Cool theory in regards to "the tipping point". Interesting, and solid criticism of large social expenditures. Wonder how socialists view this, as opposed to free-market economists.
  • smowat on 29 Sep 15
     
    "Public services are an important antipoverty tool. Their benefit doesn't show up in income data, but they appear to play a key role in reducing material hardship." INteresting to see the statistics and how social expenditures help reduce poverty and the wealth gap.
kylerussell

Enacting Cap-and-Trade Will Present Challenges Under China's System - 8 views

www.nytimes.com/...nping-limit-cap-and-trade.html

shared by kylerussell on 26 Sep 15 - No Cached
  • kylerussell on 26 Sep 15
     
    BEIJING - White House officials have lauded President Xi Jinping's anticipated promise of a national market for China in greenhouse gas quotas as a breakthrough in environmental cooperation and reform. But to work well, Mr. Xi's plan, expected to be announced in Washington on Friday, will demand big changes from a government accustomed to heavy-handed intervention and skewed statistics.
  • ...2 more comments...
  • olivialum on 29 Sep 15
     
    I liked this article for 2 reasons. 1) It would be environmentally beneficial for China to enact some type of cap and trade program because it is no secret that China is heavily polluted, which can be seen in the pictures. 2) It acknowledged the fact that even though a cap and trade system would not be economically beneficial for China, it would be the eco-friendly choice. "It can work perfectly if we have all the pieces of the puzzle ready, but if we don't have the rest of them, this one alone will not generate much benefit. There are also risks if we don't manage this well. The collapse of the carbon price may actually shut down the market." Even though the system is high risk, it is high reward with regards to the environment.
  • samoshay on 29 Sep 15
     
    Cap and trade is a brilliant idea (I think). It creates scarcity (and rightfully so). I think it will be a driver for other countries to join the cap-and-trade revolution; as the article says, "The world's second-largest economy puts in place a price on carbon emissions, and this will be noted the world over." The only difficult part is with the measurement and verification aspect, of which Chinese businesses are known in particular in world markets to cut corners on occasion. As the world's largest polluter, and specifically the world's largest coal burner, China's continued free pollution policies do have global effects, and it is hard to force a nation to compensate for burdens bore by others.
  • alisimons on 29 Sep 15
     
    I really like the cap and trade idea because it ensures that the every firm is paying the maximum amount each is willing to spend to pollute the air. Firms that don't value being able to pollute as much can sell their permits and use the money to become more environmentally friendly. The cap and trade method encourages technological change that reduces the harm from each unit of a firm's product. As the article says, "The intended result is a competitive market that induces companies to devise ways to reduce emissions." The cap and trade method will hopefully relieve China of some of its pollution.
  • Kako Ito on 29 Sep 15
     
    The national environmental quota set by the cap and trade announced by President Xi shows that there is some possibility of environmental cooperation from China, one of the world's most heavy polluters. The article voices the well founded skepticism of critics, who doubt that this new system will work well when it hasn't exactly taken off among the nations of the European Union; however, China's state is very different from its western counterparts. Comparatively, it can exact more control over its countries' businesses and factories, so this system just may be successful.
olivialum

Signs, Long Unheeded, Now Point to Risks in U.S. Economy - The New York Times - 2 views

www.nytimes.com/...nt-to-risks-in-us-economy.html

shared by olivialum on 29 Sep 15 - No Cached
  • The data points range from the obvious to the obscure, encompassing stock market and credit bubbles in China, the strength of the dollar relative to emerging market currencies, a commodity rout and a sudden halt to global earnings growth.
  • The United States economy would only be able to avoid for so long the deflationary forces that have taken root in China
  • global G.D.P. pie is shrinking
  • ...3 more annotations...
  • Suddenly, loans in relatively cheap dollars that financed real estate and consumption booms were no longer available and the ultimate result was always a growth slowdown.
  • What was driving weakness in all these countries was the gradual slowdown in the Chinese economy. As China bought less steel from Brazil, iron ore from Australia (its stock market was down by 22 percent during this time frame) and less mineral fuel and oil from Indonesia, the effect on these economies was immediate.
  • The bottom line though, is that investors in American stocks recognized too late in the game that a global contraction was sneaking up on them.
cole_bodner

Rishi Sunak is now going to COP27 climate summit - 1 views

www.bbc.com/...uk-politics-63484971

shared by cole_bodner on 03 Nov 22 - No Cached
  • cole_bodner on 03 Nov 22
     
    After initially stating that he was too busy to attend COP27, Rishi Sunak has since reversed his decision following backlash. Critics say that he is attending in an attempt to recover his reputation and better market himself politically, rather than doing it out of national/global interest. I also believe this about the event itself: it is more of a political marketing strategy where officials attend to "take on climate change", but end up blaming other countries' lack of commitment for their own lack of progress.
  • julianatseh on 03 Nov 22
     
    It will be interesting to see if he will be one of the leaders to be open to more radical plans to lower emissions and fight climate change. It may be a bad sign if he originally claimed to be too busy to attend and only changed his mind for his image.
  • duncanc2023 on 03 Nov 22
     
    I saw this article when I was scrolling through to find my own. I agree that this seems to be more of a marketing plan both to make himself seem more appealing to the public and to take some criticism away from the UK's climate change policies in order to direct it towards other countries' policies.
anishakaul

Few in Venezuela Want Bolívars, but No One Can Spare a Dime - The New York Times - 0 views

www.nytimes.com/...t-no-one-can-spare-a-dime.html

shared by anishakaul on 18 Oct 15 - No Cached
  • Venezuelans have lost faith in their economy and in the ability of their government to find a way out of the mess
  • domestic confidence in the economy has crashed
  • the government has refused for months to release basic economic data like the inflation rate or the gross domestic product
  • ...6 more annotations...
  • A movie ticket costs about 380 bolívars. Calculated at the government rate, that is $60. At the black-market rate, it is just $0.54. Want a large popcorn and soda with that? Depending on how you calculate it, that is either $1.15 or $128.The minimum wage is 7,421 bolívars a month. That is either a decent $1,178 a month or a miserable $10.60.
    • anishakaul
      anishakaul on 18 Oct 15
       
      ???
  • country’s income has shrunk
  • the black market for dollars has soared
  • strict controls on prices and foreign exchange for imports
  • “It’s crazy,” he said. “We’re living a nightmare. There’s nothing to buy, and the money isn’t worth anything.”
  • “Necessity has a dog’s face,”
Njeri Kamau-Devers

Asian markets slide on eurozone downgrade fears - 1 views

Below is the link. Sorry about that. http://www.cnn.com/2012/01/15/business/asia-markets/index.html?eref=rss_latest&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28R...

euro crisis effect in asia Sony China

started by Njeri Kamau-Devers on 16 Jan 12 1 follow-up, last by Njeri Kamau-Devers on 16 Jan 12
sawyerthompson

I.M.F. Cautions on Concentrated Positions in U.S. Mutual Funds - 1 views

www.nytimes.com/...itions-in-us-mutual-funds.html

shared by sawyerthompson on 29 Sep 15 - No Cached
  • sawyerthompson on 29 Sep 15
     
    The International Monetary Fund warned on Tuesday of the large positions that mutual funds in the United States have built in high-yielding bonds issued by risky companies here and in emerging markets around the world. The warning comes at a time of increased nervousness about China and other emerging markets like Brazil.
Stuart Suplick

Chinese Leader's Economic Plan Tests Goal to Fortify Party Power - 0 views

www.nytimes.com/...f-goals-for-chinas-leader.html

political economy commanding heights economic liberalization

shared by Stuart Suplick on 07 Nov 13 - No Cached
  • Stuart Suplick on 07 Nov 13
     
    All eyes are on China as its president and prime minister, Xi Jinping and Li Keqiang, plan to implement economic liberalization while increasing the power of the state political party. This has drawn criticism from political scientists, as discussed in the article, because of its apparent contradiction: how can you encourage markets and the private sector to open up more if you don't want to decrease the eminence of the state (and state control over sectors)? The reforms proposed by the state and government heads will try to make Chinese economic growth more sustainable in more ways than one, a task the previous president Hu Jintao shirked away from. Some political scientists also believe the problems arising from the reforms won't originate from "ideological conservatism", but rather from state-owned, controlled, or subsidized industries that do not want the increased market competition. Protectionism, anyone?
quinnlewis

Stock indices end flat, Rupee slips - 1 views

www.thehindu.com/...article7642366.ece

shared by quinnlewis on 11 Sep 15 - No Cached
  • quinnlewis on 11 Sep 15
     
    In a volatile trading, stock indices ended flat on Friday while the Rupee slipped against the U.S. dollar. This displays the uncertainty of India's stock market and indicates inconsistency as possibly one of the reasons India is impoverished.
Rick Rodgers

China? Cars? - 0 views

online.wsj.com/...3871104575567193323098232.html

shared by Rick Rodgers on 22 Oct 10 - No Cached
  • Rick Rodgers on 22 Oct 10
     
    Well, we all know we make cars, and we know Japan makes cars, but China makes cars? Apparently, they actually have the worlds largest auto-market, and the industry is expanding rapidly (just like everything else in China). Thought it might be interesting to know that the family car of the next century may no longer be a Honda or a Toyota, but some Chinese variant. Let's not even think about the environmental impact of the new car needs of China, or the effect even cheaper cars will have on the US auto market.
Arshia Surti

Movement of the Moment Looks to Long-Ago Texts - 1 views

www.nytimes.com/...02teaparty.html

Tea Party Hayek free markets taxes

shared by Arshia Surti on 02 Oct 10 - No Cached
  • Arshia Surti on 02 Oct 10
     
    The Tea Party's ideological base - Hayek and free markets. The debate between capitalists and socialists continues.
Kay Bradley

The Story of American Flags: Made in China! on Vimeo - 3 views

www.vimeo.com/17385512

shared by Kay Bradley on 03 Dec 10 - No Cached
  • Curtis Serrano on 03 Dec 10
     
    I think its interesting that piracy is increasing throughout the world. Personally, I feel that its good that other countries are working to counter this threat.
  • ...9 more comments...
  • Catherine Binder on 03 Dec 10
     
    It's funny that an organization (The Association of American Flag Manufacturers) had to be created because of the threat of Chinese manufacturers. I can't believe the irony - what our flag is supposed to represent, and the reality of how and where it is created.
  • Harrison Lee on 05 Dec 10
     
    I completely agree with Catherine on the irony of the Association of American Flag Manufacturers and of the contrast between the symbolism of our flag and the reality of its source. America, which proclaims itself to be the bellwether in freedom and democracy, is responsible for the suffering of workers internationally and domestically, even to the point of the country's icon, the flag. We boast thousands of these in parades and protests, like the many that I've seen in the news over the past few years, particularly those demanding better working conditions and benefits. And yet, the very purchase of these flags is counterproductive to their goals, as it funds this market that has contributed to their suffering.
  • Samantha Bishop on 05 Dec 10
     
    I don't even understand how we came to the point where our patriotic symbol (the flag) has to be made in China. I agree that it is much cheaper mainly because of the cheap labor, but this is absurd. American's aren't even making the American flag. I had the same thought as the quote at the beginning of the video, "Thank heavens Betsey Ross isn't here to see [this]."
  • Arshia Surti on 05 Dec 10
     
    The US flag is certainly a symbol of what America has come to represent - a consumerist, exploitative world power - far from its ideals of equality and justice. And the worst part, as Harrison said, is the ignorant hypocrisy with which we proudly wave our flags.
  • Amara Plaza-Jennings on 05 Dec 10
     
    One thing that I found myself wondering as I was watching the video was how the workers in China feel about producing the US flags. Do they not care and just feel releived to have a job? Or does it feel odd to them making an American flag, expecially if they have harsh feeling towards the US? I also found it intersting that the demand for flags increased so much after 9/11, really showing the effect that this event had on the American psyche. Again the irony that the other people commented about comes into play. The people who bought these flags were trying to show their patriotism and support for American, when the flags really represent our dependence on China and go to support Chinese factories.
  • Nick Petru on 06 Dec 10
     
    Impressively thorough, Matthew. Two parts stood out for me: the Chinese military involvement and your point that our flags indirectly harm the welfare of people in other countries, particularly China. Well done
  • larkin smith on 06 Dec 10
     
    This video was ridiculously long & in depth. I love the juxtaposition of the idea of the american flag & all that it stands for and the fact that the flag is really made in China.
  • anonymous on 06 Dec 10
     
    When I was watching the video, I had to wonder: are there any flags made in the USA? There was a quote somewhere in the video saying that there are, but they're of poorer quality. I would think, though, that the vast market of flags made in China would make any american made flag companies go out of business. I also wondered if most countries have their flags made in China, or if there are some that produce their own.
  • Gregory Freiberg on 06 Dec 10
     
    I had the same sentiments as Amara. When we were watching China Blue and the chinese workers were making Jeans which they knew were presumably heading for the United States I wondered how they must feel that they are slaving over something for another country. Then, this movie (which was very well done) shows that American Flags are made in China and i was trying to put myself in the shoes of a chinese factory worker slaving over constructing an American Flag. I am curious as to what they think about making them. Very good job at bringing out the irony in the situation too Matthew
  • Heather Anderson on 07 Dec 10
     
    I found it interesting that American-made American flags are lower quality than those made in China. It struck me as very similar to the situation faced by the speaker who came to talk to us about her bag business: how she had to outsource because she couldn't find a quality producer in the U.S. Something that bothered me is that many of the flags are synthetic; if the government is going to hand our hundreds of free flags that might just get thrown away, it seems as though it would be better to at least make them out of renewable materials like wood and cotton. However, I suppose that may be more expensive... Also, I visited the Jinteng factory website because I was curious if they specialized in a certain type of flag or not. It turns out that they make all different types of flags depending on the order, just as the jeans we saw in China Blue varied order by order. I suspect that although some workers feel frustrated making other countries' flags, their catalog indicates that they make flags for many countries, not just one, so any anger would perhaps be less likely to be directed toward a specific country due to constantly producing their flag.
  • Rebecca Heller on 07 Dec 10
     
    I thought that it is sad (and ironic) that, as Matthew said, our symbols of freedom and patriotism are being paid for with people's rights (in China). I had never considered how 9/11 would have caused a drastic increase in demand for American flags, and though it shouldn't have, it surprised me that the low price of American flags from retailers such as Wal-Mart does not cover the production costs of the flags. Like Larkin, I found the juxtaposition of the symbols of the flag and where it is actually made notable. I also had the same question as Alison about whether any flags are actually made in the United States. I thought that Matthew did a nice job pointing out the odd juxtaposition and talking about the production cycle of the flag.
samuelws

EMERGING MARKETS-Brazil's real slips as inflation rises, Latam FX down - 0 views

finance.yahoo.com/...zils-real-slips-191423427.html

shared by samuelws on 28 Oct 21 - No Cached
  • samuelws on 28 Oct 21
     
    The inflation is not just isolated to Brazil -- global supply chain shortages are having squeezing prices throughout the globe.
juliam814

Brazil's Economy Minister shakes markets with unexpected announcement - MercoPress - 0 views

en.mercopress.com/...s-with-unexpected-announcement

Brazil economy

shared by juliam814 on 28 Oct 21 - No Cached
  • In that scenario, the Brazilian real fell 1.7% against the US dollar, closing at 1 US $ = 5.65 R $, the highest rate in 2021, while Sao Paulo's stock exchange Bovespa index recorded a 2.3% contraction.
  • Thus, the Government announced it intended to increase the Auxilio Brasil plan by 20%, which in November will replace Bolsa Familia, the successful aid program set in place by the opposition Workers' Party (PT) in 2003 and which has reportedly rescued 54 million people from poverty.
  • The decision means each family will receive R $ 400 (US $ 71) from Bolsonaro's Auxilio Brasil plan, with which the incumbent head of state aims at defeating former President and opposition leader Luiz Inácio Lula da Silva next year.
  • juliam814 on 28 Oct 21
     
    The Brazilian government plans to give people more money, probably in an attempt from President Bolsonaro to get votes.
samueld2022

Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bit... - 1 views

economictimes.indiatimes.com/...86055891.cms

shared by samueld2022 on 01 Nov 21 - No Cached
  • Guatemala's central bank vice president Jose Alfredo Blanco said the bank was studying the possibility of a local digital currency that would be called iQuetzal.
  • samueld2022 on 01 Nov 21
     
    Guatemala is thinking of following in the footsteps of El Salvador and adopting cryptocurrency as the official currency. A bold and dangerous move
Kay Bradley

COP26: Key Outcomes From the UN Climate Talks in Glasgow  | World Resources I... - 0 views

www.wri.org/...comes-un-climate-talks-glasgow

shared by Kay Bradley on 01 Dec 21 - No Cached
  • The world still remains off track to beat back the climate crisis.  
  • ministers from all over the world agreed that countries should come back next year to submit stronger 2030 emissions reduction targets with the aim of closing the gap to limiting global warming to 1.5 degrees
  • Ministers also agreed that developed countries should urgently deliver more resources to help climate-vulnerable countries adapt to the dangerous and costly consequences of climate change that they are feeling already —
  • ...46 more annotations...
  • curb methane emissions,
  • halt and reverse forest loss,
  • align the finance sector with net-zero by 2050
  • ditch the internal combustion engine
  • accelerate the phase-out of coal,
  • end international financing for fossil fuels,
  • “Not nearly enough” to the first question, “yes” to the second. 
  • 151 countries had submitted new climate plans (known as nationally determined contributions, or NDCs)
  • To keep the goal of limiting temperature rise to 1.5 degrees C within reach, we need to cut global emissions in half by the end of this decade.
  • these plans, as they stand, put the world on track for 2.5 degrees C of warming by the end of the century.
  • If you take into account countries’ commitments to reach net-zero emissions by around mid-century, analysis shows temperature rise could be kept to around 1.8 or 1.9 degrees C.
  • some major emitters’ 2030 targets are so weak (particularly those from Australia, China, Saudi Arabia, Brazil and Russia) that they don’t offer credible pathways to achieve their net-zero targets.
  • a major “credibility gap”
  • To fix this problem, these countries’ must strengthen their 2030 emissions reduction targets to at least align with their net-zero commitments. 
  • as well as ramping up ambition
  • the pact asks nations to consider further actions to curb potent non-CO2 gases, such as methane, and includes language emphasizing the need to “phase down unabated coal” and “phase-out fossil fuel subsidies.”
  • This marked the first time negotiators have explicitly referenced shifting away from coal and phasing out fossil fuel subsidies in COP decision text.  
  • this COP finally recognized the importance of nature for both reducing emissions and building resilience to the impacts of climate change,
  • Did Developing Countries Get the Finance and Support They Need? 
  • In 2009, rich nations committed to mobilize $100 billion a year by 2020 and through 2025 to support climate efforts in developing countries
  • developed countries failed to meet that goal in 2020 (recent OECD estimates show that total climate finance reached $79.6 billion in 2019).
  • The Adaptation Fund reached unprecedented levels of contributions, with new pledges for $356 million that represent almost three times its mobilization target for 2022. The Least Developed Countries Fund, which supports climate change adaptation in the world’s least developed countries, also received a record $413 million in new contributions.
  • COP26 also took steps to help developing countries access good quality finance options.
  • For example, encouraging multilateral institutions to further consider the links between climate vulnerabilities and the need for concessional financial resources for developing countries — such as securing grants rather than loans to avoid increasing their debt burden. 
  • COP26 finally put the critical issue of loss and damage squarely on the main stage
  • Climate change is already causing devastating losses of lives, land and livelihoods. Some damages are permanent — from communities that are wiped out, to islands disappearing beneath the waves, to water resources that are drying up.
  • Countries also agreed to operationalize and fund the Santiago Network on Loss and Damage, established at COP25 in Madrid, and to catalyze the technical assistance developing countries need to address loss and damage in a robust and effective manner.  
  • International Carbon Markets.
  • negotiators agreed to avoid double-counting, in which more than one country could claim the same emissions reductions as counting toward their own climate commitments.
  • his is critical to make real progress on reducing emissions.
  • Common Time Frames. In Glasgow, countries were encouraged to use common timeframes for their national climate commitments. This means that new NDCs that countries put forward in 2025 should have an end-date of 2035, in 2030 they will put forward commitments with a 2040 end-date, and so on.
  • Transparency. In Glasgow, all countries agreed to submit information about their emissions and financial, technological and capacity-building support using a common and standardized set of formats and tables.
  • 100 high-level announcements during the “World Leaders Summit"
  • including a bold commitment from India to reach net-zero emissions by 2070 that is backed up with near-term targets (including ambitious renewable energy targets for 2030), 109 countries signing up to the Global Methane Pledge to slash emissions by 30% by 2030, and a pledge by 141 countries (as of November 10) to halt and reverse forest loss and land degradation by 2030 (backed by $18 billion in funding, including $1.7 billion dedicated to support indigenous peoples).  
  • Glasgow Breakthroughs, a set of global targets meant to dramatically accelerate the innovation and use of clean technologies in five emissions-heavy sectors:
  • power, road transport, steel, hydrogen and agriculture.
  • 46 countries, including the U.K., Canada, Poland and Vietnam made commitments to phase out domestic coal,
  • 29 countries including the U.K., Canada, Germany and Italy committed to end new direct international public support for unabated fossil fuels by the end of 2022
  • Beyond Oil and Gas Alliance, led by Costa Rica and Denmark — with core members France, Greenland, Ireland, Quebec, Sweden and Wales — pledged to end new licensing rounds for oil and gas exploration and production and set an end date that is aligned with Paris Agreement objectives
  • Efforts were also made to scale up solar investment
  • new Solar Investment Action Agenda by WRI, the International Solar Alliance (ISA) and Bloomberg Philanthropies that identifies high-impact opportunities to speed up investment and reach ISA’s goal of mobilizing $1 trillion in solar investment by 2030.
  • Non-state actors including investors, businesses, cities and subnational regions also joined collective action initiatives aimed at driving economic transformation.
  • Over 400 financial firms which control over $130 trillion in assets committed to aligning their portfolios to net-zero by 2030
  • banks, asset managers and asset owners fully recognize the business case for climate action and the significant risks of investing in the high-carbon, polluting economy of that past.
  • 11 major automakers agreed to work toward selling only zero-emission vehicles globally by 2040, and by no later than 2035 in leading markets.  
  • In the year ahead, major emitters need to ramp up their 2030 emissions reduction targets to align with 1.5 degrees C, more robust approaches are needed to hold all actors accountable for the many commitments made in Glasgow, and much more attention is needed on how to meet the urgent needs of climate-vulnerable countries to help them deal with climate impacts and transition to net-zero economies.
willbaxter

Liz Truss Resigns - 0 views

www.cnbc.com/...budget-and-market-turmoil.html

shared by willbaxter on 20 Oct 22 - No Cached
  • willbaxter on 20 Oct 22
     
    The UK is a parliamentary democracy and after Boris Johnson resigned, Liz Truss took his role as prime minister. After a series of terrible decisions, the lowest approval ratings in history, failed budget plans, and market turmoil, she has resigned.
  • Kay Bradley on 25 Oct 22
     
    And now Rishi Sunak is PM! Maybe the UK will finally have a competent leader. Sunak's experience is right on point.
Kay Bradley

The Social Welfare State, beyond Ideology: Scientific American - 0 views

www.scientificamerican.com/article.cfm

globalization Industrialized Democracies social welfare taxes education

shared by Kay Bradley on 14 Oct 12 - Cached
  • Jasper Arasteh on 15 Oct 12
     
    I think that finding a balance between the freedom and social welfare has always been an issue in America and thats why this is such an interesting article. The Nordic countries seem to have a very good balance of free market success and equality. These countries would be good examples for America but there are two reasons that make this difficult. First off, many Americans seem to be deeply afraid of anything resembling socialism or communism. Second all these nordic states are small and relatively homogenous. This makes it much easier for the government to provide social welfare that meets everybody's needs and keeps everyone happy. The US is huge and has a much more diverse population. This makes for a completely different problem. While a social democratic government has worked so well for Scandinavia, we are far from getting to a state like that in the US.
  • Jasper Arasteh on 15 Oct 12
     
    Even though I believe a government like that would be ideal for the US, it is not very realistic due to how conservative the US is compared to Scandinavia.
Michelle Ito

IMF's Christine Lagarde backs more time for Greece - 1 views

www.bbc.com/...business-19922108

Greece IMF economics economy bailout regulation

shared by Michelle Ito on 14 Oct 12 - No Cached
  • Michelle Ito on 15 Oct 12
     
    In our last few classes we have focused on Jamaica and how its relationship with the IMF has greatly impacted Jamaica's economy. As we all know, Greece is in desperate need of economic help, which is why finance officials from all over the world have come together to decide on how to rescue Greece. But that is easier said than done. This article mostly explains that the IMF wants to change their original agreement with Greece, but Germany, the biggest contributor to the European Stability Mechanism (ESM) wants to keep the original policy.
  • Elizabeth Sundsmo on 15 Oct 12
     
    I think it is interesting how the IMF's stance has varied between Jamaica and Greece. From what I understood from the movie, the IMF did not give Jamaica the time of day when it asked for a modification on its loan to make their economy improved and sustainable- their interest seemed more in making it a reliable market place for foreign exports. Greece, on the other hand, has exports that other rich consumer countries want (shoes, oil, and cars come to mind), so it gets greater consideration from the IMF. Since these consumer countries represent a significant portion of the voting power within the IMF, the interests of the IMF and of Germany are understandibly different: Germany wants its money back, and the other countries want Greece to reestablish a functioning economy so they can et their goodies. Side note: Germany has 6% of the voting power in the IMF, and the US has close to 17%, http://www.imf.org/external/np/sec/memdir/members.aspx
  • Kay Bradley on 15 Oct 12
     
    Great find, Michelle! So relevant to our Jamaica discussion.
quinnlewis

Discordant Financial Messages From China Spur Global Unease - 0 views

www.nytimes.com/...-china-spur-global-unease.html

shared by quinnlewis on 19 Oct 15 - No Cached
  • quinnlewis on 19 Oct 15
     
    China's stock market bailout was a significant setback to its decades-long efforts to build a modern financial system. Its currency devaluation shocked global investors and altered the policy calculus at central banks. Statistics coming from within China seem to contradict each other, calling into question the legitimacy of such statistics.
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