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India To Be World's Fastest Growing Economy: Keeping It Going Will Be The Difficult Trick

So, a predicted growth rate of 7.3% for the last quarter of last year, with that rate expected to be maintained in the year to come is good news.

Well, there’re worries about the present too but as ever in an economy we need to look at the short term, where macroeconomics holds sway, and also at the long term, where it’s microeconomics all the way down.

A company in Liechtenstein built the world’s fastest roller coaster, part of a niche industry combining innovation with no economies of scale

ABU DHABI—The world’s fastest roller coaster, which can reach 149 miles an hour in 4.5 seconds, is at an amusement park called—what else?—Ferrari World, in Abu Dhabi.

The tiny alpine principality, sandwiched between Switzerland and Austria, is one of a handful of European countries that dominate the niche business of producing roller coasters.

The European Union’s statistics agency Tuesday said gross domestic product—the broadest measure of the goods and services produced by the eurozone’s 19 member countries—was 2.5% higher in 2017 than in 2016, the fastest growth rate since 2007.

Utah’s governor, Mr Cox seems to be keeping his pledge. The upbeat 45-year-old is winning plaudits for his pragmatism and evenhandedness. After Utah’s Republican legislature demanded an early end to its mask mandate, he negotiated a month-long extension, with exceptions for schools and businesses. He issued his first veto of a bill sponsored by his brother-in-law (it was an attack on social-media firms and probably unconstitutional).

The former president did better in the state last year than he did in 2016; but worse than any other Republican candidate in a two-horse race since Barry Goldwater in 1964. Though some leading Utah conservatives have warmed to him—including Senator Mike Lee—Mr Cox is among the many who remain opposed to Mr Trump and his grievance politics

The results of Utah’s functional conservativism are impressive. The state is as welcoming to immigrants as it is to investors—and one of the fastest-growing in both population and output.

Implementation matters, but it’s harder to cover because it’s happening in all parts of the country simultaneously. There isn’t a huge Republican-Democratic fight over it, so there isn’t the conflict that draws the attention to it

we sort of implicitly treat policy like it’s this binary one-zero condition. One, you pass a bill, and the thing is going to happen. Zero, you didn’t, and it won’t.

ROBINSON MEYER: You can almost divide the law up into different kind of sectors, right? You have the renewable build-out. You have EVs. You have carbon capture. You have all these other decarbonizing technologies the law is trying to encourage

A decade ago, Chinese President Xi Jinping launched the Maritime Silk Road, the oceanic component of his flagship Belt and Road Initiative aimed at improving China’s access to world markets by investing in transportation infrastructure

China has already secured a significant stake in a network of global ports that are central to world trade and freedom of navigation. Although the stated goal of the investments was commercial, the United States and its allies have grown increasingly concerned about the potential military implications.

Xi has frequently talked of his ambition to turn China into a “maritime superpower.” The port network offers a glimpse into the reach of those ambitions.

Genetically modified ingredients are deeply embedded in the global food supply, having proliferated since the 1990s. Most of the corn and soybeans grown in the United States, for example, have been genetically modified. The alterations make soybeans resistant to a herbicide used in weed control, and causes the corn to produce its own insecticide. Efforts are under way to produce a genetically altered apple that will spoil less quickly, as well as genetically altered salmon that will grow faster

The labeling requirements announced by Whole Foods will include its 339 stores in the United States and Canada. Since labeling is already required in the European Union, products in its seven stores in Britain are already marked if they contain genetically modified ingredients. The labels currently used show that a product has been verified as free of genetically engineered ingredients by the Non GMO Project, a nonprofit certification organization. The labels Whole Foods will use in 2018, which have yet to be created, will identify foods that contain such ingredients.

“We’ve had some pretty big developments in labeling this year,” Mr. Hirshberg said, adding that 22 states now have some sort of pending labeling legislation. “Now, one of the fastest-growing, most successful retailers in the country is throwing down the gantlet.” He compared the potential impact of the Whole Foods announcement to Wal-Mart’s decision several years ago to stop selling milk from cows treated with growth hormone. Today, only a small number of milk cows are injected with the hormone.

America finally got some good economic growth. The U.S. economy expanded at a 2.9% annual rate from July through September compared with the same time a year ago -- the fastest economic growth in two years.

Working against growth for much of the year was that businesses had lots of unsold items sitting in the back room. This factor, also known as inventories, didn't hold growth back in the third quarter.

Fukuyama, you see, believed that just because we'd reached the end of history didn't mean we'd stay in the end of history. That peace and prosperity might not be enough for some people who would, "struggle for the sake of struggle" simply "out of a certain boredom" from living in a world that doesn't seem to have meaning or identity any more.

the white working class is letting out a wail across the Western world against a political system they don't think recognizes them, and a society they don't recognize themselves. Add in the monotony of day-to-day life—why not smash it up just to see what happens?—and you've got a global revolt against the global order.

the first 25 years of the postwar liberal order had maybe the best and most broadly-shared growth in all of human history. We built the UN to keep the peace, NATO to defend Europe, the IMF to help countries out of economic trouble, and a middle class that, if you were white, got the help it needed to own a home and go to college.

have we run out of things to say and write that actually are about technology and the companies behind them? Or do we feel compelled to fill the white space between what matters? Sort of like talk radio?

There have been three big innovation narratives in the last few years that complicate, but don't invalidate, my thesis. The first -- The Rise of the Cloud -- was essentially a rebranding of having data on the Internet, which is, well ... what the Internet has always been about. Though I think it has made the lives of some IT managers easier and I do like Rdio. The second, Big Data, has lots of potential applications. But, as Tim Berners-Lee noted today, the people benefiting from more sophisticated machine learning techniques are the people buying consumer data, not the consumers themselves. How many Big Data startups might help people see their lives in different ways? Perhaps the personal genomics companies, but so far, they've kept their efforts focused quite narrowly. And third, we have the daily deal phenomenon. Groupon and its 600 clones may or may not be good companies, but they are barely technology companies. Really, they look like retail sales operations with tons of sales people and marketing expenses.

we've reached a point in this technology cycle where the old thing has run its course. I think the hardware, cellular bandwidth, and the business model of this tottering tower of technology are pushing companies to play on one small corner of a huge field.

We tend to think that whoever competes best comes out ahead. In the race to be more competitive, we sometimes confuse what is hard with what is valuable. The intensity of competition becomes a proxy for value.

we often shouldn’t seek to be really good competitors. We should seek to be really good monopolists. Instead of being slightly better than everybody else in a crowded and established field, it’s often more valuable to create a new market and totally dominate it. The profit margins are much bigger, and the value to society is often bigger, too.

He’s talking about doing something so creative that you establish a distinct market, niche and identity. You’ve established a creative monopoly and everybody has to come to you if they want that service, at least for a time.

In 2000, the United States forged its current economic relationship with China by permanently granting it most-favored-nation trade status and, eventually, helping the country enter the World Trade Organization. The unspoken deal, though, went something like this: China could make a lot of cheap goods, which would benefit U.S. consumers, even if it cost the country countless low-end manufacturing jobs. And rather than, say, fight for an extra bit of market share in Chicago, American multinationals could offset any losses because of competition by entering a country with more than a billion people — including the fastest-growing middle class in history — just about to buy their first refrigerators, TVs and cars. It was as if the United States added a magical 51st state, one that was bigger and grew faster than all the others. We would all be better off.

European companies have done much better than American ones because they’ve had to practice selling across borders and cultures for decades.

China’s households save more than a quarter of their money, while Americans save less than 4 percent.

Even as their spending on instruction, research and public service declined or stayed flat, most colleges and universities rapidly increased their spending on sports, according to a report being released Monday by the American Association of University Professors.

“Increasingly, institutions of higher education have lost their focus on the academic activities at the core of their mission,” the association said in its report. “The spending priority accorded to competitive athletics too easily diverts the focus of our institutions from teaching and learning to scandal and excess.”

this report suggests that our worst fears are coming to pass,”

economists can now track what they call “business dynamism” in ways they couldn’t before. As researchers have dug into these numbers, they’ve found that most metrics of dynamism and upheaval in American business have actually been declining for decades, with the downturn steepening after 2000. Fewer new businesses are being launched in the United States, the average age of businesses is increasing, job creation and job destruction are on the wane, industries are being consolidated, and fast-growth businesses are rarer.

There was in fact plenty of upheaval in the top ranks of the business world in the 1980s and ’90s, as newcomers crashed the Fortune 500 list with increasing frequency. And the high tech sector was, as widely perceived, a hotbed of entrepreneurship and growth. All of that activity seems to have peaked, however, a year or two after the stock market did in 2000. Measures of big-business volatility began to drop.High-tech start-up activity and what economists call the skewness of growth—how quickly the fastest-growing companies in a sector are outpacing the median company—declined below the levels of the mid-’90s and stayed there.

spectacular rise in living standards that began in Europe and North America just over 200 years ago is thus largely the work of disruptive innovations. Without a new burst of them, we may face “secular stagnation”—an extended period of slow growth.

The defining question about global order for this generation is whether China and the United States can escape Thucydides’s Trap. The Greek historian’s metaphor reminds us of the attendant dangers when a rising power rivals a ruling power—as Athens challenged Sparta in ancient Greece, or as Germany did Britain a century ago.

Most such contests have ended badly, often for both nations, a team of mine at the Harvard Belfer Center for Science and International Affairs has concluded after analyzing the historical record. In 12 of 16 cases over the past 500 years, the result was war.

When the parties avoided war, it required huge, painful adjustments in attitudes and actions on the part not just of the challenger but also the challenged.

According to a recent ABC News/Washington Post poll, Republicans prefer an outsider to a candidate with experience in the political system by a 24-point margin (60 to 36). People who would never board an airplane piloted by a person who has never flown before, or even used a flight simulator, apparently want to elect as president someone who has never served in public office.

More than at any point in recent times, then, the Republican Party — large parts of it, at least — is moving in the direction of insularity, defensiveness and discomfort with people of different ethnic and cultural backgrounds. Many on the right now see things as a pitched battle between “us” and “the other.”

All of this presents a serious threat to the Republican Party. A party that is already at a disadvantage in presidential elections is on course to alienate huge numbers of nonwhite voters, including some of the fastest-rising demographic groups in America. Four years ago, Republican presidential candidates were talking about self-deportation and electrified fences; today the front-runner is talking about forced deportation, ending birthright citizenship and calling for a “pause” on green cards issued to foreign workers.

About one of every two computers sold today is running Android. Google’s once underappreciated side bet has become Earth’s dominant computing platform

Google’s version of Android faces increasing competition from hungry rivals, including upstart smartphone makers in developing countries that are pushing their own heavily modified take on the software. There are also new threats from Apple, which has said that its recent record number of iPhone sales came, in part, thanks to people switching from Android.

Hanging over these concerns is the question of the bottom line. Despite surging sales, profits in the Android smartphone business declined 44 percent in 2014

The suit cites statistical evidence to claim that Harvard holds Asian applicants to a “far higher standard than other students” and that Harvard uses “racial classifications to engage in the same brand of invidious discrimination against Asian Americans that it formerly used to limit the number of Jewish students in its student body.”

To get into the top schools, Asians need SAT scores that are about 140 points higher than those of their white peers. In 2008, over half of all applicants to Harvard with exceptionally high SAT scores were Asian, yet they made up only 17 percent of the entering class (now 20 percent). Asians are the fastest-growing racial group in America, but their proportion of Harvard undergraduates has been flat for two decades.

discrimination against an entire race of students is simply unmistakable. Fixing it could be accomplished not at the expense of racial diversity, but in curtailing affirmative action for athletes and legacy admissions.

what some in Washington and around the world see as a United States government so bitterly divided that it is on the verge of ceding the global economic stage it built at the end of World War II and has largely directed ever since.

Other officials attending the meetings this week, speaking on the condition of anonymity, agreed that the role of the United States around the world was at the top of their concerns.

Washington’s retreat is not so much by intent, Mr. Subramanian said, but a result of dysfunction and a lack of resources to project economic power the way it once did. Because of tight budgets and competing financial demands, the United States is less able to maintain its economic power, and because of political infighting, it has been unable to formally share it either.

Obviously, no one can be blamed for his own addiction or depression. But the causes of death this study highlights are the kinds of things—drinking, doping, suicide—that people who feel good about their lives don’t tend to do.So, what’s eating less-educated Boomers?

One persuasive explanation, and one the researchers put forth, is financial strain. Jobs in fields like manufacturing and construction, which were historically filled by people without college degrees, have been evaporating quickly over the past 15 years

Nearly half of Americans in their 40s and 50s don’t have enough money saved for retirement to live as they’re accustomed to, even if they work until they’re 65. All of this is crashing down on Boomers, who were raised on the promise of the American Dream.