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Javier E

G.D.P. Doesn't Measure Happiness - NYTimes.com - 0 views

www.nytimes.com/...-doesnt-measure-happiness.html

US economic performance measure GDP happiness goal national education history

shared by Javier E on 09 Oct 11 - Cached
  • “happiness is, in the end, a much more complicated concept than income. Yet it is also a laudable and much more ambitious policy objective.”
  • it’s a challenge to set criteria for measuring happiness. However, in a conversation, she told me she did not see it as an insurmountable one: “It doesn’t have to be perfect; after all, it took us decades to agree upon what to include in G.D.P. and it is still far from a perfect metric.”
  • there remains the issue of being No. 1. Many of us have lived our lives in a country that has thought itself the world’s most powerful and successful. But with the United States economy in a frustrating stall as China rises, it seems that period is coming to an end. We are suffering a national identity crisis, and politicians are competing with one another to win favor by assuring a return to old familiar ways.
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  • When Newsweek ranked the “world’s best countries” based on measures of health, education and politics, the United States ranked 11th. In the 2011 Quality of Life Index by Nation Ranking, the United States was 31st. Similarly, in recent rankings of the world’s most livable cities, the Economist Intelligence Unit has the top American entry at No. 29, Mercer’s Quality of Living Survey has the first United States entry at No. 31 and Monocle magazine showed only 3 United States cities in the top 25.
  • On each of these lists, the top performers were heavily concentrated in Northern Europe, Australia and Canada with strong showings in East Asian countries from Japan to Singapore. It is no accident that there is a heavy overlap between the top performing countries and those that also outperform the United States in terms of educational performance
  • Nearly all the world’s quality-of-life leaders are also countries that spend more on infrastructure than the United States does. In addition, almost all are more environmentally conscious and offer more comprehensive social safety nets and national health care to their citizens.
  • providing the basics to ensure a high quality of life is not a formula for excess or the kind of economic calamities befalling parts of Europe today. For example, many of the countries that top quality-of-life lists, like Sweden, Luxembourg, Denmark, the Netherlands and Norway, all rank high in lists of fiscally responsible nations — well ahead of the United States, which ranks 28th on the Sovereign Fiscal Responsibility Index.
evanpitt14

A&B most vulnerable of CARICOM states | Antigua Observer Newspaper - 0 views

antiguaobserver.com/t-vulnerable-of-caricom-states

shared by evanpitt14 on 30 Sep 16 - No Cached
  • is the most vulnerable of CARICOM states.
  • most vulnerable groups include women, youth, elderly, disabled and children in exploitative labour conditions.
  • doesn’t measure existing poverty
  • ...7 more annotations...
  • youth are a critical vulnerable group
  • Risk factors identified include teenage pregnancy, domestic violence, ineffective school systems and high health care costs.
  • at risk of becoming poor
  • grow up in abusive families and violent communities, leading to deviant behaviours such as drug abuse and violence, resulting in young males to be both the main victims and the main perpetrators of crime in the Caribbean
  • chain effect
  • gender violence
  • However, women showed greater resilience than men in retaining jobs during the 2009 economic crisis, possibly due to better secondary and tertiary educational performance.
  • evanpitt14 on 30 Sep 16
     
    This articles tells how poverty affects Caribbean countries and especially A+B. It says that this can lead to abuse, violence and drug use.
Javier E

Insight-Batista's Brazilian Empire Was Sunk by More Than Hubris - NYTimes.com - 0 views

www.nytimes.com/...l-batista-history-insight.html

brazil rich oil crisis economic

shared by Javier E on 30 Aug 13 - No Cached
  • things have gotten worse for Batista. Hit by mounting debt, a series of project delays and a crisis of confidence, his six publicly listed companies have suffered one of the most spectacular corporate meltdowns in recent history.
  • He pumped billions into the group's companies even as share prices plunged by as much as 90 percent.
  • His own fortune - the world's seventh-biggest last year, according to Forbes - has declined by more than $25 billion over the past 18 months.
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  • His empire also fell victim to the sudden end of both the global commodities boom and a wild exuberance for emerging markets - two forces that attracted investors to Batista's vision.
  • A former Brazilian finance minister, a former energy minister and a former chief justice of Brazil's supreme court joined the OGX board, bolstering the credibility of the polyglot, European-educated "Brazilianaire".
  • When Batista raised $4.11 billion in OGX's initial public offering in June 2008, interest in Brazil was feverish. Petrobras had just made giant offshore oil discoveries and Brazil was expected to become one of the world's top five oil producers by 2020.
  • Record demand from China drove up the price of Brazilian soybeans, iron ore, coffee, sugar and other commodities. Oil rose to an all-time high. EBX had also just sold most of its first listed company, iron ore producer MMX Mineração e Metálicos SA, to Anglo American Plc for $6.65 billion, enriching Batista and his investors.
  • A lot of the people who invested with Batista were not fools, and his rise and fall has followed that of Brazil.
  • DeGolyer & MacNaughton (D&G), a Dallas-based certification company, estimated OGX's potential resources at 10.8 billion barrels of oil and natural gas equivalent. That would have been enough - if OGX could figure out how to get it out of the ground - to supply all U.S. oil needs for more than a year and a half.
  • OGX estimated it would produce 1.4 million barrels a day by 2019, equivalent to 70 percent of Brazil's output, or about half of the output of Venezuela, a founding member of OPEC.
  • Already Brazil's richest man, Batista bragged he would surpass Bill Gates, Warren Buffett and Mexico's Carlos Slim to become the world's wealthiest person. Today he does not even make Forbes' top 100 list.
  • The consequences of Tubarão Azul's failure quickly spread because of the close links between EBX Group companies. EBX shipbuilder OSX Brazil SA was formed to build and lease a fleet of offshore oil vessels for OGX. Power producer MPX Energia SA is developing gas fields with OGX in Brazil's northeast. Port operator LLX Logística SA is home to OSX's shipyard, a place to store and process OGX oil and to ship Anglo American's iron ore.
  • Batista may also have been hurt by Brazil's efforts to help his and other companies weather the 2008 U.S. financial crisis and the world economic slowdown that followed. As Brazilian stocks, currency and bonds plunged, EBX stocks briefly fell to levels that were only broken this year.
  • EBX was one of the main beneficiaries of cheap capital that Brazil's government pumped into the economy to fight the downturn.
  • In Batista, the government was pursuing its then-fashionable strategy of creating "national champions" while making up for delays in its own infrastructure projects. It encouraged Batista to speed up just as Brazil's boom was about to end.
  • Batista and Brazil, though, have struggled since. As China slows, commodity prices are falling. In the last year Brazil's Bovespa stock index was the worst performer among the world's 28 largest indexes and the only one to fall in the period.
Javier E

Trouble in Paradise - 1 views

www.foreignpolicy.com/...trouble_in_paradise

caribbean drug trafficking crime violence economy latin america

shared by Javier E on 23 May 14 - No Cached
  • Over the past decade, Trinidad's murder rate has risen nearly 400 percent; last year, the rate in the capital city of Port of Spain rivaled those in Johannesburg and Baghdad. Proliferating gangs, mostly composed of impoverished young men, are behind many of the killings, centered in the dense suburbs of Port of Spain
  • What has emboldened the gangs and caused the violence? Mostly, drugs. According to the U.S. Drug Enforcement Administration, Trinidad and Tobago has become a major transshipment point for illegal substances heading north from South America. Traffickers send cocaine and small arms from Venezuela, just 7 miles off the coast of Trinidad, via fast boat. The drugs are then shipped out on container ships, planes, and private yachts.
  • he country's annual per capita GDP has risen from about $11,000 to $18,800 in the past decade due to strong exports of natural gas and steel. Still, unemployment remains high, and to create jobs, the government spends about $400 million per year on make-work projects. The bulk of this money is ultimately funneled to gang leaders, who administer "grants" and distribute "salaries." Indeed, corruption -- always a problem in the country -- is reaching new heights. According to several security analysts, a damning unofficial study carried out by the government in 2009 suggested that almost 90 percent of police officers were regularly involved in illegal activities. Those pursuits ranged from running and selling drugs, to colluding with gangs by renting out weapons to criminals, to performing extralegal killings.
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