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Javier E

The Party of Work - NYTimes.com - 1 views

  • The American colonies were first settled by Protestant dissenters.
  • They created an American creed, built, as the sociologist Seymour Martin Lipset put it, around liberty, individualism, equal opportunity, populism and laissez-faire.
  • this worldview is innately suspicious of government. Its adherents generally believe in the equation that more government equals less individual and civic vitality. Growing beyond proper limits, government saps initiative, sucks resources, breeds a sense of entitlement and imposes a stifling uniformity on the diverse webs of local activity.
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  • The Pew Research Center does excellent research on Asian-American and Hispanic values. Two findings jump out. First, people in these groups have an awesome commitment to work. By most measures, members of these groups value industriousness more than whites. Second, they are also tremendously appreciative of government. In survey after survey, they embrace the idea that some government programs can incite hard work, not undermine it; enhance opportunity, not crush it. Moreover, when they look at the things that undermine the work ethic and threaten their chances to succeed, it’s often not government. It’s a modern economy in which you can work more productively, but your wages still don’t rise. It’s a bloated financial sector that just sent the world into turmoil. It’s a university system that is indispensable but unaffordable. It’s chaotic neighborhoods that can’t be cured by withdrawing government programs.
  • Asian-Americans. Many of these people are leading the lives Republicans celebrate. They are, disproportionately, entrepreneurial, industrious and family-oriented. Yet, on Tuesday, Asian-Americans rejected the Republican Party by 3 to 1. They don’t relate to the Republican equation that more government = less work.
  • Some Republicans argue that they can win over these rising groups with a better immigration policy. That’s necessary but insufficient. The real problem is economic values.
  • Don’t get hung up on whether the federal government is 20 percent or 22 percent of G.D.P. Let Democrats be the party of security, defending the 20th-century welfare state. Be the party that celebrates work and inflames enterprise. Use any tool, public or private, to help people transform their lives.
Javier E

China to Be No. 1 Economy Before 2030, Study Says - NYTimes.com - 1 views

  • To assess the validity of this study, the research and analysis team graded their past work on global trends, an effort undertaken every four years since 1996. Past studies, they found, had underestimated the speed with which changes arrived on the global scene.
  • The risk of conflict within a state — like a civil war or an insurgency — is expected to decline in Latin America, but will remain high in sub-Saharan Africa, in parts of the Middle East and South Asia, as well as in some Asia-Pacific island hot spots, the study warns.
  • “the health of the global economy increasingly will be linked to how well the developing world does — more so than the traditional West.” In addition to China, the developing nations that “will become especially important to the global economy” include India, Brazil, Colombia, Indonesia, Nigeria, South Africa and Turkey.
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  • A new intelligence assessment of global trends projects that China will outstrip the United States as the leading economic power before 2030, but that America will remain an indispensable world leader
  • “The growth of the global middle class constitutes a tectonic shift,” the study says, adding that billions of people will gain new individual power as they climb out of poverty. “For the first time, a majority of the world’s population will not be impoverished, and the middle classes will be the most important social and economic sector in the vast majority of countries around the world.”
  • half of the world’s population will probably be living in areas that suffer from severe shortages of fresh water, meaning that management of natural resources will be a crucial component of global national security efforts.
  • terrorists could mount a computer-network attack in which the casualties would be measured not by the hundreds or thousands killed but by the millions severely affected by damaged infrastructure, like electrical grids being taken down.
  • At least 15 countries are “at high risk of state failure” by 2030, the report predicts, among them Afghanistan and Pakistan, but also Burundi, Rwanda, Somalia, Uganda and Yemen.
  • The best-case situation for global security until 2030, according to the study, would be a growing political partnership between the United States and China.
  • The worst-case situation envisions a stalling of economic globalization that would preclude advancement of financial well-being around the world. That would be a likely outcome after an outbreak of a health pandemic that, even if short-lived, would result in closed borders and economic isolationism.
  • Mr. Burrows noted that the audiences in China were far more accepting of the American intelligence assessments — both those predicting China’s economic ascendancy and those warning of political dangers if there was no reform of governance in Beijing — than were audiences in Russia.
  • To assess the validity of this study, the research and analysis team graded its past work on global trends, an effort undertaken every four years since 1996. Past studies, it found, underestimated the speed with which changes arrived on the global scene.
  • previous assessments should have paid greater attention to ideology.
  • The risk of conflict within a state — like a civil war or an insurgency — is expected to decline in Latin America, but will remain high in sub-Saharan Africa, in parts of the Middle East and South Asia, and in some Asia-Pacific island hot spots
  • Most worrisome — and already a part of the global security dynamic — is an assessment that future wars in Asia and the Middle East could include nuclear weapons.
  • Other important demographic trends will be aging populations in Europe, Japan, South Korea and Taiwan, which could slow their economies further
  • “the health of the global economy increasingly will be linked to how well the developing world does — more so than the traditional West.”
  • In addition to China, the developing nations that “will become especially important to the global economy” include Brazil, Colombia, India, Indonesia, Nigeria, South Africa and Turkey.
Javier E

China to Be No. 1 Economy Before 2030, Study Says - NYTimes.com - 0 views

  • A new intelligence assessment of global trends projects that China will outstrip the United States as the leading economic power before 2030, but that America will remain an indispensable world leader, bolstered in part by an era of energy independence.
  • “The growth of the global middle class constitutes a tectonic shift,” the study states, saying that billions of people will gain new individual power as they climb out of poverty. “For the first time, a majority of the world’s population will not be impoverished, and the middle classes will be the most important social and economic sector in the vast majority of countries around the world.”
  • half of the world’s population probably will be living in areas that suffer severe shortages of fresh water, meaning that management of natural resources will be a key component of global national security efforts.
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  • these developments also bring significant risks, allowing radicalized groups to enter world politics on a scale even more violent than current terrorist organizations by adopting “lethal and disruptive technologies,” including biological weapons and cyberweapons.
  • “There will not be any hegemonic power,” the 166-page report states. “Power will shift to networks and coalitions in a multipolar world.”
  • lists important “game-changers” that will most influence the global scene to 2030: a crisis-prone world economy, shortcomings in governance, conflicts within states and between them, the impact of new technologies and whether the United States can “work with new partners to reinvent the international system.”
  • The best-case situation for global security to 2030, according to the study, would be a growing political partnership between the United States and China. But it could take a crisis to bring Washington and Beijing together
  • The worst-case situation envisions a stalling of economic globalization that would preclude any advancement of financial well-being around the world. That would be a likely outcome following an outbreak of a health pandemic that, even if short-lived, would result in closed borders and economic isolationism.
Javier E

What Is Middle Class in Manhattan? - NYTimes.com - 0 views

  • middle-class neighborhoods do not really exist in Manhattan
  • “When we got here, I didn’t feel so out of place, I didn’t have this awareness of being middle class,” she said. But in the last 5 or 10 years an array of high-rises brought “uberwealthy” neighbors, she said, the kind of people who discuss winter trips to St. Barts at the dog run, and buy $700 Moncler ski jackets for their children.
  • Even the local restaurants give Ms. Azeez the sense that she is now living as an economic minority in her own neighborhood. “There’s McDonald’s, Mexican and Nobu,” she said, and nothing in between.
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  • In a city like New York, where everything is superlative, who exactly is middle class?
  • “My niece just bought a home in Atlanta for $85,000,” she said. “I almost spend that on rent and utilities in a year.
  • “Housing has always been one of the ways the middle class has defined itself, by the ability to own your own home. But in New York, you didn’t have to own.” There is no stigma, he said, to renting a place you can afford only because it is rent-regulated; such a situation is even considered enviable.
  • “It’s overwhelmingly housing — that’s the big distortion relative to other places,” said Frank Braconi, the chief economist in the New York City comptroller’s office. “Virtually everything costs more, but not to the degree that housing does.”
  • The average Manhattan apartment, at $3,973 a month, costs almost $2,800 more than the average rental nationwide. The average sale price of a home in Manhattan last year was $1.46 million, according to a recent Douglas Elliman report, while the average sale price for a new home in the United States was just under $230,000.
  • New Yorkers also live in a notably unequal place. Household incomes in Manhattan are about as evenly distributed as they are in Bolivia or Sierra Leone — the wealthiest fifth of Manhattanites make 40 times more than the lowest fifth, according to 2010 census data.
  • There is no single, formal definition of class status in this country. Statisticians and demographers all use slightly different methods to divvy up the great American whole into quintiles and median ranges. Complicating things, most people like to think of themselves as middle class. It feels good, after all, and more egalitarian than proclaiming yourself to be rich or poor. A $70,000 annual income is middle class for a family of four, according to the median response in a recent Pew Research Center survey, and yet people at a wide range of income levels, including those making less than $30,000 and more than $100,000 a year, said they, too, belonged to the middle.
  • “You could still go into a bar in Manhattan and virtually everyone will tell you they’re middle class,” said Daniel J. Walkowitz, an urban historian at New York University.
  • The price tag for life’s basic necessities — everything from milk to haircuts to Lipitor to electricity, and especially housing — is more than twice the national average.
  • If the money you live on is coming from any kind of investment or dividend, you are probably not middle class, according to Mr. Braconi.
  • Without the clear badge of middle-class membership — a home mortgage — it is hard to say where a person fits on the class continuum. So let’s consider the definition of “middle class” through five different lenses.
  • If you live in Manhattan and you are making more than $790,000 a year, then congratulations, you are the 1 percent.
  • “Understanding who is middle class, in New York, but especially Manhattan, is all about when you got into the real estate market,” he said. “If you bought an apartment prior to 2000, or have long been in a rent-stabilized apartment, you could probably be a teacher in Manhattan and be solidly middle class. But if you bought or started renting in a market-rate apartment over the last 5 or 10 years, you could probably be a management consultant and barely have any savings.”
  • By the same formula — measuring by who sits in the middle of the income spectrum — Manhattan’s middle class exists somewhere between $45,000 and $134,000.
  • But if you are defining middle class by lifestyle, to accommodate the cost of living in Manhattan, that salary would have to fall between $80,000 and $235,000. This means someone making $70,000 a year in other parts of the country would need to make $166,000 in Manhattan to enjoy the same purchasing power.
  • Using the rule of thumb that buyers should expect to spend two and a half times their annual salary on a home purchase, the properties in Manhattan that could be said to be middle class would run between $200,000 and $588,000.
  • On the low end, the pickings are slim. The least expensive properties are mostly uptown, in neighborhoods like Yorkville, Washington Heights and Inwood. The most pleasing options in this range, however, are one-bedroom apartments not designed for children or families.
  • “There’s no room for the earlier version of the middle class,” Mr. Walkowitz said. Firefighter, police officer, teacher and manufacturing worker all used to be professions that could lift a family into its ranks. But those kinds of jobs have long left people unable to keep up with soaring real estate prices.
  • Positions that would nudge a family into the upper class elsewhere — say, vice president or director of strategy — and professions like psychologist are solidly middle class in Manhattan.
  • The same holds true for jobs in higher education, a growth sector for the city. The average tenured university professor at New York University or Columbia makes more than $180,000 a year, according to a 2012 survey by The Chronicle of Higher Education. Sweetening the deal for those looking to buy, N.Y.U. has offered mortgage assistance and discounted loans, while qualified Columbia faculty are eligible for a subsidy of up to $40,000 a year. Some faculty members benefit from university housing that rents well below the market rate, in prime locations on the Upper West Side and in Greenwich Village.
  • Because her building is owned by Columbia, her rent, about $1,800 a month, is manageable on an associate professor’s salary, which averages about $125,000. A similar market-rate apartment on the Upper West Side costs about $6,000 a month,
  • One way to stay in Manhattan as a member of the middle class is to be in a relationship. Couples can split the cost of a one-bedroom apartment, along with utilities and takeout meals. But adding small roommates, especially the kind that do not contribute to rent, creates perhaps the single greatest obstacle to staying in the city.
  • Only 17 percent of Manhattan households have children, according to census data. That is almost half the national average, making little ones the ultimate deal-breaker for otherwise die-hard middle-class Manhattanites.
  • By one measure, in cities like Houston or Phoenix — places considered by statisticians to be more typical of average United States incomes than New York — a solidly middle-class life can be had for wages that fall between $33,000 and $100,000 a year.
  • “The only artists I know now who are still in Manhattan,” she said, “either made it big and bought, or are still in the rent-controlled studios they landed in 1976, and will leave in a coffin.”
  • People define class as much by association and culture as they do by raw numbers — a sense, more than anything, of baseline financial security garnished by an occasional luxury like a vacation, and a belief that things can get better through hard work and determination.
  • In the last decade, the percentage of people who are paying “unaffordable rents” (defined as more than 30 percent of their income) has increased significantly, according to a report issued in September by the city’s comptroller.
  • The only young people she sees moving in around her are often buoyed by parental support, given an apartment at graduation the way she was given a Seiko watch. As her own friends and neighbors age or die out, she wonders, “who is going to take our place?”
Javier E

The Smartphone Have-Nots - NYTimes.com - 0 views

  • Much of what we consider the American way of life is rooted in the period of remarkably broad, shared economic growth, from around 1900 to about 1978. Back then, each generation of Americans did better than the one that preceded it. Even those who lived through the Depression made up what was lost. By the 1950s, America had entered an era that economists call the Great Compression, in which workers — through unions and Social Security, among other factors — captured a solid share of the economy’s growth.
  • there’s a lot of disagreement about what actually happened during these years. Was it a golden age in which the U.S. government guided an economy toward fairness? Or was it a period defined by high taxes (until the early ’60s, the top marginal tax rate was 90 percent) and bureaucratic meddling?
  • the Great Compression gave way to a Great Divergence. Since 1979, according to the nonpartisan Congressional Budget Office, the bottom 80 percent of American families had their share of the country’s income fall, while the top 20 percent had modest gains. Of course, the top 1 percent — and, more so, the top 0.1 percent — has seen income rise stratospherically. That tiny elite takes in nearly a quarter of the nation’s income and controls nearly half its wealth.
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  • The standard explanation of this unhinging, repeated in graduate-school classrooms and in advice to politicians, is technological change.
  • This explanation, known as skill-biased technical change, is so common that economists just call it S.B.T.C. They use it to explain why everyone from the extremely rich to the just-kind-of rich are doing so much better than everyone else.
  • For all their disagreements, Autor and Mishel are allies of sorts. Both are Democrats who have advised President Barack Obama, and both agree that rampant inequality can undermine democracy and economic growth by fostering despair among workers and corruption among the wealthy
  • The change came around 1978, Mishel said, when politicians from both parties began to think of America as a nation of consumers, not of workers.
  • each administration and Congress have made choices — expanding trade, deregulating finance and weakening welfare — that helped the rich and hurt everyone else. Inequality didn’t just happen, Mishel argued. The government created it.
  • Computers and the Internet, Mishel argued, are just new examples on the continuum and cannot explain a development like extreme inequality, which is so recent. So what happened?
  • David Autor, one of the country’s most celebrated labor economists, took the stage, fumbled for his own PowerPoint presentation and then explained that there was plenty of evidence showing that technological change explained a great deal about the rise of income inequality. Computers, Autor says, are fundamentally different. Conveyor belts and massive steel furnaces made blue-collar workers comparatively wealthier and hurt more highly skilled crafts­people, like blacksmiths and master carpenters, whose talents were disrupted by mass production. The computer revolution, however, displaced millions of workers from clerical and production occupations, forcing them to compete in lower-paying jobs in the retail, fast-food and home health sectors. Meanwhile, computers and the Internet disproportionately helped people like doctors, engineers and bankers in information-intensive jobs. Inequality was merely a side effect of the digital revolution, Autor said; it didn’t begin and end in Washington.
  • Levy suggested seeing how inequality has played out in other countries
  • In Germany, the average worker might make less than an American, but the government has established an impressive apprenticeship system to keep blue-collar workers’ skills competitive.
  • For decades, the Finnish government has offered free education all the way through college. It may have led to high taxes, but many believe it also turned a fairly poor fishing economy into a high-income, technological nation.
  • On the other hand, Greece, Spain and Portugal have so thoroughly protected their workers that they are increasingly unable to compete
  • Inequality has risen almost everywhere, which, Levy says, means that Autor is right that inequality is not just a result of American-government decisions. But the fact that inequality has risen unusually quickly in the United States suggests that government does have an impact
  • Still, economists certainly cannot tell us which policy is the right one. What do we value more: growth or fairness? That’s a value judgment. And for better or worse, it’s up to us.
Javier E

Edward Snowden and Booz: How Privatizing Leads to Crony Corruption - Norm Ornstein - The Atlantic - 0 views

  • We have vastly over-privatized, and in the process lost control over swaths of important policy areas while allowing unaccountable and even outlaw behavior to expand.
  • And we have created areas where crony capitalism can meet crony government to create crony corruption that cheats all taxpayers.
  • we can hark back to the last set of outrageous and scandalous privatized behaviors -- the privatization of war, with the sharp proliferation of private contractors sent to Iraq and Afghanistan who operated outside the restraints of the U.S. military, the common conventions of behavior in war, and the laws of the countries in which they operated
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  • There were at times more than 100,000 contractors in Iraq, including nearly 50,000 "soldiers," many making $1,000 a day, far more than active-duty military, with the money coming from American taxpayers. Conveniently for politicians, if these "soldiers" died, they were not counted in the official death toll of Americans killed in the war.
  • If multiple public functions are privatized, or partially privatized, government employees have huge incentives to curry favor with potential private employers by granting them rich contracts or consulting fees, and then subsequently getting jobs paying multiples of their government salaries -- or just giving nice perks to one's former colleagues and friends who left for the private sector
  • Antigovernment ideologues demonize government and government employees, cutting their pay and their programs and finding other ways to undercut them. That makes recruiting top-flight people much more difficult, especially in areas such as computer science or engineering. Government responds not by providing incentives to recruit and keep the best and brightest, but by going through the back door of privatizing and letting private firms pay far more to do essentially the same work.
Javier E

U.S. Internet Users Pay More for Slower Service - Bloomberg - 0 views

  • The arrival of commercial Internet communications in the mid-1990s posed a threat to both the phone and cable companies; eventually, the FCC deregulated the entire sector, thinking that competition among various modalities of Internet access --cable, phone, wireless, satellite -- would protect Americans. And in 2002, when the five-year period of deregulation began, there was indeed rough parity in speed and price between the cable companies and telephone companies providing Internet access.
  • Soon, however, cable companies found a way to upgrade their networks to provide connections perhaps 100 times faster than what was possible over copper wires, and at much lower expense than the phone companies incurred replacing their phone lines. Goodbye, Copper The American copper wire telephone system is, in fact, becoming obsolete. The physical switches used in the network are reaching the end of their useful lives. But now that cable has won the battle for wired Internet service and consumers are moving to mobile phones for voice service, the telephone companies are looking to shed the obligation to maintain their networks at all.
  • Meanwhile, the U.S. is rapidly losing the global race for high-speed connectivity, as fewer than 8 percent of households have fiber service. And almost 30 percent of the country still isn’t connected to the Internet at all.
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  • Other countries have different goals. The South Korean government announced a plan to install 1 gigabit per second of symmetric fiber data access in every home by 2012. Hong Kong, Japan and the Netherlands are heading in the same direction. Australia plans to get 93 percent of homes and businesses connected to fiber. In the U.K., a 300 Mbps fiber-to-the-home service will be offered on a wholesale basis.
  • In a sense, the FCC adopted the cable companies’ business plan as the country’s goal. The commission’s embrace of asymmetric access -- slower upload than download speeds -- also serves the carriers’ interests: Only symmetric connections would allow every American to do business from home rather than use the Internet simply for high-priced entertainmen
  • The first step is to decide what the goal of telecommunications policy should be. Network access providers -- and the FCC -- are stuck on the idea that not all Americans need high-speed Internet access. The FCC’s National Broadband Plan of March 2010 suggested that the minimum appropriate speed for every American household by 2020 should be 4 megabits per second for downloads and 1 Mbps for uploads. These speeds are enough, the FCC said, to reliably send and receive e-mail, download Web pages and use simple video conferencing.
  • Think of it this way: With a dialup connection, backing up 5 gigabytes of data (now the standard free plan offered by many storage companies) would take 20 days. Over a standard (3G) wireless connection, it would take two and a half days. Over a 4G connection it would be more than seven hours, and over a cable DOCSIS 3.0 connection, an hour and a half. With a gigabit fiber-to-the-home connection, it can be done in less than a minute.
  • If the U.S. had a fully fiber-based network, Hollywood blockbusters could be downloaded in 12 seconds, video conferencing would become routine, and every household could see 3D and Super HD images. Americans could be connected instantly to their co-workers, their families, their teachers and their health-care monitors. To make this happen, though, the U.S. needs to move to a utility model, based on the assumption that all Americans require fiber-optic Internet access at reasonable prices. How much would it cost to bring fiber to the homes of all Americans? Corning Inc. (GLW), the American glass manufacturer, and others have estimated that it would take between $50 billion and $90 billion.
  • The Internet has taken the place of the telephone as the world’s basic, general-purpose, two-way communication medium. All Americans need high-speed access, just as they need clean water, clean air and electricity. But they have allowed a naive belief in the power and beneficence of the free market to cloud their vision. As things stand, the U.S. has the worst of both worlds: no competition and no regulation.
Javier E

Hollande Creates a French Prosecutor for Fraud and Vows to End Tax Havens - NYTimes.com - 0 views

  • President François Hollande on Wednesday announced the creation of a position of special prosecutor to pursue cases of corruption and tax fraud, and vowed to eradicate tax havens “in Europe and the world.”
  • one of those tax havens, Luxembourg, announced that it would bow to pressure from its European allies and begin forwarding the details of its foreign clients’ accounts to their home governments. Luxembourg, with only half a million people and a banking sector more than 20 times the size of its gross domestic product, is one of Europe’s largest financial centers and has been compared to Cyprus
  • Luxembourg’s announcement came a day after five of the biggest European countries — Britain, France, Germany, Italy and Spain — agreed to exchange banking data and create their own automatic tax data exchange. That mechanism would be modeled on the Foreign Account Tax Compliance Act, passed by Congress in 2010 to track the overseas assets of Americans who might be dodging taxes.
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  • they urged the European Union commissioner responsible for taxation, Algirdas Semeta, to work to get all 27 members of the European Union to sign up.
  • Mr. Cahuzac was fired and expelled from the party, but that the minister in charge of fighting tax fraud had committed it himself has been deeply damaging.
  • the Washington-based International Consortium of Investigative Journalists announced that it had obtained confidential information relating to tens of thousands of offshore bank accounts and shell companies. The leaked data, which centered on the Caribbean and especially the British Virgin Islands and the Cayman Islands, embarrassed European governments, including Luxembourg, by showing how wealthy citizens routinely hide assets, sometimes illegally, and avoid paying taxes by setting up offshore companies.
  • In addition to creating the prosecutor position, he ordered cabinet ministers to disclose their finances and asked legislators to do the same. He also promised to create an independent authority to monitor the assets and possible conflicts of interest of senior officials and legislators.
  • The journalist consortium, a project of the Center for Public Integrity, disclosed confidential information on more than 120,000 offshore companies and trusts and nearly 130,000 individuals and agents, including 4,000 Americans. But the consortium has refused requests by governments for access to the files, saying that it is not an arm of law enforcement.
  • France’s resilience to external shocks is “diminishing” and its medium-term growth prospects are “increasingly hampered by long-standing imbalances,” the report said, noting that France’s share of European Union exports declined by 11.2 percent from 2006 to 2011, while rising labor costs have damaged competitiveness.
  • The move by Luxembourg toward disclosure leaves Austria as the lone holdout in the European Union. It pays a 35 percent withholding tax on the interest income of accounts held by foreigners in Austrian banks to their country of residence, but refuses to disclose the account holders’ identities.
Javier E

After Explosion, Texas Remains Wary of Regulation - NYTimes.com - 0 views

  • Five days after an explosion at a fertilizer plant leveled a wide swath of this town, Gov. Rick Perry tried to woo Illinois business officials by trumpeting his state’s low taxes and limited regulations. Asked about the disaster, Mr. Perry responded that more government intervention and increased spending on safety inspections would not have prevented what has become one of the nation’s worst industrial accidents in decades.
  • Even in West, last month’s devastating blast did little to shake local skepticism of government regulations. Tommy Muska, the mayor, echoed Governor Perry in the view that tougher zoning or fire safety rules would not have saved his town. “Monday morning quarterbacking,” he said.
  • Texas has always prided itself on its free-market posture. It is the only state that does not require companies to contribute to workers’ compensation coverage. It boasts the largest city in the country, Houston, with no zoning laws. It does not have a state fire code, and it prohibits smaller counties from having such codes. Some Texas counties even cite the lack of local fire codes as a reason for companies to move there.
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  • But Texas has also had the nation’s highest number of workplace fatalities — more than 400 annually — for much of the past decade. Fires and explosions at Texas’ more than 1,300 chemical and industrial plants have cost as much in property damage as those in all the other states combined for the five years ending in May 2012. Compared with Illinois, which has the nation’s second-largest number of high-risk sites, more than 950, but tighter fire and safety rules, Texas had more than three times the number of accidents, four times the number of injuries and deaths, and 300 times the property damage costs.
  • “The Wild West approach to protecting public health and safety is what you get when you give companies too much economic freedom and not enough responsibility and accountability,”
  • That is particularly true in the countryside. “In rural Texas,” said Stephen T. Hendrick, the engineer for McLennan County, where the explosion occurred, “no one votes for regulations.”
  • This antiregulatory zeal is an outgrowth of a broader Texas ideology: that government should get out of people’s lives, a deeply held belief throughout the state that touches many aspects of life here, including its gun culture, its Republican-dominated Legislature and its cowboy past and present.
  • But federal officials and fire safety experts contend that fire codes and other requirements would probably have made a difference. A fire code would have required frequent inspections by fire marshals who might have prohibited the plant’s owner from storing the fertilizer just hundreds of feet from a school, a hospital, a railroad and other public buildings, they say. A fire code also would probably have mandated sprinklers and forbidden the storage of ammonium nitrate near combustible materials. (Investigators say the fertilizer was stored in a largely wooden building near piles of seed, one possible factor in the fire.)
  • This week, Mr. Perry’s press office announced that Texas had been ranked for the ninth year in a row as the country’s most pro-business state, according to a survey by the magazine Chief Executive. Texas accounted for nearly a third of all private sector jobs created over the last decade, according to federal labor data. And under Mr. Perry, it has given businesses more tax breaks and incentives than any other state, roughly $19 billion a year.
  • “Businesses can come down here and do pretty much what they want to,” Mr. Burka said. “That is the Texas way.”
Javier E

Obama's Ambitious Global Warming Action Plan - NYTimes.com - 0 views

  • But if you doubt the reality of this shift, just look at the news coverage from Monday of the drop in the price of shares in coal companies ahead of the speech. This headline in Street Insider says it all: “Coal Stocks Routed as Pres. Obama Preps to Tackle Carbon Emissions.”
  • What’s particularly welcome there is the language on “removing counterproductive policies that increase vulnerabilities” — which I hope will lead to some of the steps I recently described that could cut costs from future wildfires in America’s “red zones,” as well as shifts in how federal flood insurance is priced.
  • the Obama Administration is putting in place tough new rules to cut carbon pollution—just like we have for other toxins like mercury and arsenic
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  • Sets a goal to reduce carbon pollution by at least 3 billion metric tons cumulatively by 2030 – more than half of the annual carbon pollution from the U.S. energy sector
  • Directs EPA to work closely with states, industry and other stakeholder to establish carbon pollution standards for both new and existing power plants;
  • Makes up to $8 billion in loan guarantee authority available for a wide array of advanced fossil energy and efficiency projects to support investments in innovative technologies;
  • expanding and prioritizing forest- and rangeland-restoration efforts to make areas less vulnerable to catastrophic fire;
  • Commits to expand major new and existing international initiatives, including bilateral initiatives with China, India, and other major emitting countries;
  • calling for the end of U.S. government support for public financing of new coal-fired powers plants overseas, except for the most efficient coal technology available in the world’s poorest countries, or facilities deploying carbon capture and sequestration technologies;
alexdeltufo

The Israeli general who compared the Jewish State to Nazi-era Germany - The Washington Post - 0 views

  • JERUSALEM — On the eve of Holocaust Remembrance Day last week, a top Israeli general gave a speech saying he saw “revolting trends” in today’s Israel that he compared to Nazi-era Germany and Europe in the 1930s.
  • His speech comes amid revelations that an Israeli soldier shot and killed a wounded Palestinian attacker in the head,
  • The general’s speech may have sparked reflection in some sectors, but mostly it inspired criticism — and calls for his head.
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  • Israel’s culture and sports minister, Miri Regev, said Golan should resign. "It cannot be that the deputy chief of staff, a
  • If there is one thing that frightens me about the memory of the Holocaust, it is identifying the revolting trends that occurred in Europe as a whole, and in Germany in particular, some 70, 80 and 90 years ago, and finding evidence of those trends here, among us, in 2016.
  • Israel and parts of the Jewish world, especially on such a sensitive day, and that he was fully aware that within the space of a few hours he would become public enemy no. 1 for Israeli right wingers and self-styled Jewish patriots abroad.
  • This is not the first time in recent months that Israeli military brass have found themselves criticized by Israel's hard right.
  • It is probably worth noting that the day after Golan gave his speech, he issued a statement in which he walked back his remarks, saying he had not meant to compare Israel to Nazi Germany, nor to criticize the current leadership, nor the Israel Defense Forces,
alexdeltufo

Greece passes tax and pension reforms - BBC News - 0 views

  • Trade unions say the country cannot bear another round of austerity.
  • Three days of a general strike paralysed public transport and slowed the public sector and the media.
  • Greece agreed to a third rescue package worth €86bn (£60bn) last year.
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  • She said the people responsible for the yes vote had "promised everything" to protesters in public squares five years ago, but were now "justifiably" frightened to leave their offices.
  • Prime Minister Tsipras was elected initially on an anti-austerity ticket but later signed up to Greece's third international bailout since 2010. He has a thin majority with 153 MPs in the 300-seat parliament.
  • Greece is already looking to implement spending cuts that will amount to 3% of the country's gross domestic product or €5.4bn euros by 2018.
Javier E

Why the Economy Doesn't Roar Anymore - WSJ - 1 views

  • The U.S. presidential candidates have made the usual pile of promises, none more predictable than their pledge to make the U.S. economy grow faster. With the economy struggling to expand at 2% a year, they would have us believe that 3%, 4% or even 5% growth is within reach.
  • But of all the promises uttered by Donald Trump and Hillary Clinton over the course of this disheartening campaign, none will be tougher to keep. Whoever sits in the Oval Office next year will swiftly find that faster productivity growth—the key to faster economic growth—isn’t something a president can decree.
  • It might be wiser to accept the truth: The U.S. economy isn’t behaving badly. It is just being ordinary.
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  • Historically, boom times are the exception, not the norm.
  • Over the past two centuries, per capita incomes in all advanced economies, from Sweden to Japan, have grown at compound rates of around 1.5% to 2% a year
  • these distinctly non-euphoric averages mean that most of the time, over the long sweep of history, people’s incomes typically take about 40 years to double.
  • looking from one year to the next, the improvements in living standards that come from higher incomes are glacial. The data may show that life is getting better, but average families feel no reason to break out the champagne.
  • that is no longer good enough. Americans expect the economy to be buoyant, not boring. Yet this expectation is shaped not by prosaic economic realities but by a most unusual period in history: the quarter-century that began in the ashes of World War II, when the world economy performed better than at any time before or since.
  • The Golden Age was the first sustained period of economic growth in most countries since the 1920s. But it was built on far more than just pent-up demand and the stimulus of the postwar baby boom. Unprecedented productivity growth around the world made the Golden Age possible. In the 25 years that ended in 1973, the amount produced in an hour of work roughly doubled in the U.S. and Canada, tripled in Europe and quintupled in Japan.
  • Many factors played a role in this achievement.
  • The workforce everywhere became vastly more educated.
  • As millions of laborers shifted from tending sheep and hoeing potatoes to working in factories and construction sites, they could create far more economic value.
  • New motorways boosted productivity in the transportation sector by letting truck drivers cover longer distances with larger vehicles. Faster ground transportation made it practical, in turn, for farms and factories to expand to sell not just locally but regionally or nationally, abandoning craft methods in favor of machinery that could produce more goods at lower cost.
  • Six rounds of tariff reductions brought a massive increase in cross-border trade, putting even stronger competitive pressure on manufacturers to become more efficient.
  • Above all, technological innovation helped to create new products and offered better ways for workers to do their jobs.
  • The 1973 oil crisis meant more than just gasoline lines and lowered thermostats. It shocked the world economy.
  • But it wasn’t the price of gasoline that brought the long run of global prosperity to an end. It just diverted attention from a more fundamental problem: Productivity growth had slowed sharply.
  • The consequences of the productivity bust were severe. Full employment vanished. It would be 24 years before the U.S. unemployment rate would again reach the low levels of late 1973
  • and the infinitesimal unemployment rates in France, Germany and Japan would never be reached again. Through the rest of the 20th century, the jobless rate in 28 wealthy economies would average nearly 7%.
  • the world’s overall economic growth rate dropped from 4.9% a year from 1951 through 1973 to an average of just 3.1% for the balance of the century.
  • With economic planners and central bankers unable to steady their economies, voters turned sharply to the right
  • Conservative politicians such as Margaret Thatcher in the U.K., Ronald Reagan in the U.S. and Helmut Kohl in West Germany swept into power, promising that freer markets and smaller government would reverse the decline, spur productivity and restore rapid growth.
  • But these leaders’ policies—deregulation, privatization, lower tax rates, balanced budgets and rigid rules for monetary policy—proved no more successful at boosting productivity than the statist policies that had preceded them
  • Some insist that the conservative revolution stimulated an economic renaissance, but the facts say otherwise: Great Britain’s productivity grew far more slowly under Thatcher’s rule than during the miserable 1970s, and Reagan’s supply-side tax cuts brought no productivity improvement at all.
  • It is tempting to think that we know how to do better, that there is some secret sauce that governments can ladle out to make economies grow faster than the norm. But despite glib talk about “pro-growth” economic policies, productivity growth is something over which governments have very little control
maxwellokolo

Cyberattacks Strike Saudi Arabia, Harming Aviation Agency - 1 views

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    A version of Shamoon, an aggressive computer virus that targeted the Saudi energy sector four years ago, has been used in a new wave of attacks in Saudi Arabia, according to security experts. The attacks, which Saudi Arabia confirmed, appeared to be the latest use of malware to disrupt high-profile targets.
rachelramirez

U.K. Set to Choose Sharp Break From European Union - The New York Times - 0 views

  • U.K. Set to Choose Sharp Break From European Union
  • Prime Minister Theresa May is likely to choose to exit Europe’s single market and its customs union — a so-called hard Brexit.
  • Mrs. May calling for British unity “to make a success of Brexit and build a truly global Britain.”
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  • Being outside the single market could damage Britain’s important financial services sector and is likely to hit the value of the pound again, at least temporarily.
  • We don’t want the E.U. to fail, we want it to prosper economically and politically, and we need to persuade our allies that a strong new partnership with the U.K. will help the E.U. to do that.”
  • A week ago, Mrs. May said in a television interview that post-Brexit Britain would not be able to keep “bits” of its European Union membership.
  • Membership in the customs union would mean that Britain would have to obey European Union regulations on manufacturing standards and would be banned from making separate trade deals with countries
  • two main priorities are ending the jurisdiction of the European Court of Justice over British law, and restoring British control over its borders and immigration, including from the European Union
  • Jeremy Corbyn, the leader of the opposition Labour Party, said that Mr. Hammond “appears to be making a sort of threat to the European community
  • Britain already runs a significantly higher yearly deficit than most European countries, about 4.4 percent of gross domestic product, and its cumulative debt is estimated at nearly 85 percent of G.D.P. Mainstream economists — under fire for wrongly predicting an immediate recession after the Brexit vote last June — say those figures are likely to worsen as the pound falls and the economy slows
abbykleman

Wary Silicon Valley leaders meet with Trump - 0 views

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    The leaders of some of the biggest Silicon Valley companies descended on Trump Tower on Wednesday afternoon as the tech industry and President-elect Donald Trump tried to reboot their relationship following a contentious general election fight that often saw the tech sector executives standing in opposition to Trump.
Javier E

And the Trade War Came - The New York Times - 0 views

  • what will happen when the Trump tariffs come?
  • There will be retaliation, big time. When it comes to trade, America is not that much of a superpower — China is also a huge player, and the European Union is bigger still. They will respond in kind, targeting vulnerable U.S. sectors like aircraft and agriculture.
  • And retaliation isn’t the whole story; there’s also emulation. Once America decides that the rules don’t apply, world trade will become a free-for-all.
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  • What the coming trade war will do, however, is cause a lot of disruption. Today’s world economy is built around “value chains” that spread across borders: your car or your smartphone contain components manufactured in many countries, then assembled or modified in many more. A trade war would force a drastic shortening of those chains, and quite a few U.S. manufacturing operations would end up being big losers, just as happened when global trade surged in the past.
  • An old joke tells of a motorist who runs over a pedestrian, then tries to fix the damage by backing up — and runs over the victim a second time. Well, the effects of the Trumpist trade war on U.S. workers will be a lot like that.
  • the best bet is that the trade war is coming. Buckle your seatbelts.
Javier E

Was Barack Obama Bad for Democrats? - The New York Times - 0 views

  • His legacy regrettably includes the more than 1,000 Democrats who lost their elections during his two terms. Republicans now have total control in half of America’s states.
  • Why such political carnage?
  • Faced with the economy’s potential collapse as he took office, Mr. Obama devoted his presidency to the economic recovery, starting with restoring the financial sector. But he never made wage stagnation and growing inequality central to his economic mission
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  • At the same time, Mr. Obama declined to really spend time and capital explaining his initiatives in an effective way. He believed that positive changes on the ground, especially from economic policies and the Affordable Care Act, would succeed, vindicating his judgment and marginalizing his opponents.
  • When President Obama began focusing on those “left behind” by the recovery, he called for building “ladders of opportunity.” That communicated that the president believed the country’s main challenges were unrealized opportunity for a newly ascendant, multicultural America, rather than the continuing economic struggle experienced by a majority of Americans.
  • Mr. Obama also offered only tepid support to the most important political actor in progressive and Democratic politics: the labor movement.
  • In fact, he spent the last couple of years of his presidency pursuing the Trans-Pacific Partnership Agreement, a free trade law vociferously opposed by the labor movement. Under President Obama, union membership has declined to 11.1 percent from 12.3 percent.
  • Models, it appears, do not substitute for the hard work of organizing and engaging voters in nonpresidential years; models that apparently drove nearly every decision made by the Clinton campaign are no substitute for listening to voters.
  • On the eve of the 2016 election, the president used the refrain: “We’ve seen America turn recession into recovery” and 15.5 million new jobs. Pointedly, he said, “Incomes are rising. Poverty is falling.”
  • The public’s reaction was stark from the beginning. People did not believe his view on the economy, and his approval ratings fell in Maine, New Hampshire, Pennsylvania, Iowa, Minnesota and Wisconsin in 2010 and in Iowa, Michigan, North Carolina, Ohio and Pennsylvania in 2014 — the states that led the working-class move away from the Democrats.
  • Just as important, however, was the discontent brewing with the Democrats’ own base. Combined, the approximately 40 percent of minority, unmarried female and millennial voters disapproved of how President Obama was handling his job in 2010 and 2014, and many stayed home during the off-year elections. Mitt Romney carried white millennials by 7 percentage points in 2012.
  • The president will leave office with a rising approval rating near the same league of Ronald Reagan, an economy nearing full employment and real wages tipping up. Yet a majority of voters in the last election said the economy was the top issue in their vote.
  • We think voters were sending a clear message: They want more than a recovery. They want an economy and government that works for them, and that task is unfinished.
maddieireland334

In France, government vows 'no retreat' from labor reforms amid growing unrest - The Washington Post - 0 views

  • France’s government vowed “no retreat” from planned labor law reforms Thursday even as unions called for wider strikes that have choked off fuel supplies and created chaos on highways blocked by barricades of burning tires.
  • Union members overwhelmingly oppose President François Hollande’s new labor law, which would relax some of France’s famous worker protections — among the strictest in the world — in order to curb unemployment and stimulate economic growth.
  • The government has offered no hint of compromise as the country struggles with unemployment over 10 percent and near historical highs.
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  • Similar waves of protests in the past successfully halted a government plan to cut the French pension system in an effort to curb its spending deficit.
  • In addition to fuel shortages, which that have created huge lines at gas stations, the unions have also called for nationwide strikes in the public transportation sector, including air traffic controllers and at many of the 19 nuclear plants that provide electricity for much of the country.
  • With approval ratings below 20 percent, Hollande is the least popular president in modern French history.
  • The tumult raises the possibility that Hollande may not be chosen to run for re-election in 2017, which would be the first time in more than 50 years that a first-term incumbent was not tapped to pursue a second term.
  • Protests could grow until then, when France will have already begun hosting the Euro 2016 soccer tournament.
  • Many are concerned that the disruptions to fuel supplies — and possibly even electricity — could affect the tournament, a major sporting event with millions of viewers that will place France, yet again, in the international spotlight.
maddieireland334

Drought and 'Rice First' Policy Imperil Vietnamese Farmers - The New York Times - 1 views

  • When the rice shoots began to wither on Lam Thi Loi’s farm in the heart of the Mekong Delta, a usually verdant region of Vietnam, she faced a hard choice: Let them die in the parched earth, or pump salty water from the river to give them a chance.
  • The Mekong Delta, Vietnam’s premier rice growing region, is suffering its worst drought since French colonial administrators began recording statistics in 1926.
  • The increasingly dramatic effect of El Niño, the weather phenomenon that causes excessive heat and reduced rainfall in Southeast Asia, is the prime reason for the crop failures in the delta, scientists say. But it is not the only one.
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  • The Communist government’s insistence that farmers grow three rice crops a year, instead of the traditional one or two, has depleted the soil of nutrients, exacerbating the impact of the drought, they say.
  • And water from the sea has invaded the lower reaches of the Mekong River, which is more shallow than usual, sweeping saline water farther up the delta than ever before and wiping out rice fields
  • Saline water has long been invading the delta, but because of the drought there is not enough fresh water in the river and its distributaries to dilute the seawater.
  • The rice crop crisis has highlighted the need for the government to adjust its heavy emphasis on rice growing, and to encourage shrimp farming as a more profitable and practical substitute,
  • “Vietnam is the second-biggest rice exporter after Thailand,”
  • The government is stuck on a “rice first” policy that harks back to the 1970s, after the Communist victory in the Vietnam War, when the people were hungry and the country was isolated, bereft of trading partners and without a manufacturing sector.
  • Many farmers know the saline water is good for producing shrimp, Mr. Gorman said, but while they get subsidies for rice, they are not encouraged to switch to shrimp.
  • A 2010 study commissioned by the Mekong River Commission warned against the building of 11 dams in Laos and Cambodia because they would trap valuable sediment and stop it from reaching the delta. The report was ignored, two of the dams are under construction, and the rest are scheduled to go ahead.
  • In a rare concession to Vietnam, the Chinese released water from dams in Yunnan Province in March, but the flow was too small to make a difference to the failing rice crops, the Vietnamese authorities said.
  • Some farmers have fled to Ho Chi Minh City to find work, leaving villages with only half their population.
  • The signs of well-being will not last, said Mr. Thien, who was one of the authors of the 2010 report on the dams. With so many dams coming on line upstream, the lack of sediment will eventually kill the delta, leaving it a wasteland in the next 100 years or so.
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