LyrArc Article Gist
Nigel Farage is making a comeback in European Union elections in Britain. He led the Independence party and has formed a new Brexit Party to contest the elections. He says the Brexit supporters were deserted in the way the Conservative Party bungled Britain's leaving the European Union. As a result of loss of support for Theresa May with the mess created by repeated failures to pass Brexit deals in parliament, some polls show the Brexit Party surging to 34% of the vote inEuropean elections. The Conservative Party at 11%, and the Labour Party at 21%. The Liberal Democrats at 13%. The Conservative party fragments, and the Labour Party loses supporters to the Greens and Liberal Democrats. Another change is that some of the pro-Brexit supporters of the Labour Party in the middle and the north of the country may shift their vote to the Brexit party. The Conservative party's losses of support are a result of the failure of Theresa May to hold her party together. In the case of the Labour party even though it had 40%  of the vote in the last British election, it is faced with the fact that it has an odd mix of supporters. In the north and the middle of the country its working class support comes partly from Pro-Brexit supporters, and in the cities and London the support is from more liberal, better educated people. This puts both the main parties in the situation which they never thought they would be in.  Mr. Farage says its OK for Britain to leave the European Union without a deal. Prime Minister May has taken great pains to forge a deal, even a cross party deal with Labour if necessary. This has alienated the most fervent Brexit supporters in the Conservative Party who favor a no-deal Brexit. Much of this comes from caution that a no-deal Brexit would hurt Britain's economy and lower growth. A large majority in parliament believes a no deal Brexit would be disastrous for Britain. Nigel Farage does not have to deal with such distant matters as economic growth, the British pound and GDP.       ...

LyrArc Article Gist
A cut in interest rates by a quarter percentage point from the U.S. central bank is a decision that comes from the U.S. not wanting to see too wide a gap in interest rates with the European Union. Losing demand to Europe and resulting lower inflation is an outcome prevented by the U.S. acting to protect its own economy with  acut in its rate. The ECB rate at 0.4% is about 3 percentage points below the Federal Reserve's rate in the U.S. After the cuts in rates to near zero by the central banks of U.S. and Europe following the financial crisis caused by poor lending practices of banks, the U.S. central bank began a process of bringing rates to about 3%. Lower rates near zero badly hurt savings accounts of ordinary Americans. By December 2018 the rates had reached 2.25%.  President Trump has called for lower rates. because of the advantages it gives Europe in trade balances with a weaker currency that follows from lower interest rates. Capital flows to the country with higher rates and increases the value of the currency creating trade disadvantages and lower trade balances. WIth European interest rates much lower than the U.S. it pushes down the value of the euro vs the dollar and the British pound lower from Brexit fears. This increases European exports putting the U.S.  at a disadvantage. As the WSJ points out the U.S. central bank says though Mr. Trump is looking at trade balances and U.S. advantage, and Mr. Powell at the U.S. central bank is looking at U.S. inflation, the result for policy is the same- the U.S. acting to cut rates and stay close to what the European Union is doing. Bond yields in Europe have dropped from a negative 0.24% to negative 0.32% with the ECB's head Mr. Draghi moving to cut rates. The announcement of Ms. Christine Lagarde as the new head of the ECB to succeed Draghi and her views to push demand up, is pushing bond yields down. The U.S. as part of the globally linked economy has to act in line with policies in Europe. ...

LyrArc Article Gist
At the height of the Eurozone crisis in December 2011, David Brooks points out that it is important not to forget what the Germans are saying in this crisis. They are arguing for truth in accounting, which the government in Greece failed to do, and which may have more to do with negative opinion in the media and with the public in Germany about Greece than any other factor. They are arguing against speculative excesses that enabled Greece to borrow recklessly. And they are making the argument that the only way to put the finances of the eurozone on a sound basis is to have the financial discipline that is necessary for a sound currency. Anthony Faiola pointed out recently that one estimate for tax evasion in Italy is $340 billion a year- Washington Post, 11/25/2011. Greece has a similiar problem, which needs to be addressed. This view has credibility and the backing of every principle of sound financial practices, irrespective of country or region. For ordinary Germans who have gone through years of wage restraint during the period of high unemployment, their attitude is captured in one German workers response to Greece's situation - when she said there are "poor children in Germany also." Years after reunification were a difficult experience for Germany, and left parts of the country still affected by the experience. The period of high unemployment is still a fresh memory, as the economic recovery is fairly recent. There is a feeling that the situation is precarious, depending on exports, as the 2009 downturn showed. These facts remain even when one considers the criticism levelled at Germany. Germany benefitted from the bubble in the economies of Southern Europe through surging exports- from a currency that was undervalued in relation to neighbors- because of the common currency. German banks lent heavily to Greece, Ireland, Italy, Spain, and Portugal, along with French and British banks, and bear responsibility for reckless lending and not doing due diligence for loans to Greece and other countries. Germany also carries the burden of memories of hyperinflation in the 1920's, and the sense along with France that partnership is necessary for peace in Europe. Germany's position on austerity measures also has one underlying weakness - if this leads to shrinking economies in southern Europe in the name of fianncial discipline, then the plan fails as tax revenues decline and budget deficits increase. Given this experience Germany faces the challenge of convincing neighbors of the need for good governance and sound spending practices for long term stability of the currency, even as it leads the effort for providing short term funding. In the short run this reaps criticism for Germany, including criticism for some members such as Greece having to leave the euro as a way to regain competitiveness and growth. Experts have suggested that this would be a better option for Greece than a shrinking economy after strong austerity measures, and the referendum proposed by former prime minister Papandreou on strict austerity measures is likely to have gone in this direction. ...

LyrArc Article Gist
It comes as a shock to central banks and is pressuring governments- the food price explosion that won't go away even as energy prices are moderating. OECD graphs in this WSJ report show food prices up in 2023 over the prior year by 15-20% in France, Germany and Britain, compared to 5-10% in the US, Canada and Japan. In France households have cut food purchases by 10%, and in Germany by 10.4% over prior year in the largest drop since records were being kept in 1994. In Britain the statistics agency shows that 40% of the poorest 20% of people are cutting back on food purchases. Ludovic Subran who worked at the UN World Food Program says it is an "access problem." Food production has not dropped, people just can't afford to pay the prices. In Britain The Resolution Foundation says higher food prices since 2020 means the British public by summer 2023 will have to pay more in food bills $35 billion more than the 25 billion pounds for energy bills. Policymakers call higher profit margins by retailers as a possible cause as in world commodity markets food prices are falling since April 2022. Andrew Baileyof the Bank of England says it is the "fourth shock to inflation" after the supply chain bottlenecks, the energy price increases from the war in Ukraine, the tight labor markets. In Italy, Spain and Portugal governments have offered sale tax relief, in France and the UK government is leaning on retailers to curb price increases. ...

LyrArc Article Gist
Gallup found last summer that only 16% of Americans polled had "quite a lot" of confidence in newspapers, in its decades long polling of "Confidence in Institutions." For TV news only 11% trust it. Bret Stephens of NYT says the right approach to give marginalized communities a voice is to create more diverse newsrooms not let objectivity be eroded. He reminds people that in a democracy its not just about reporting, it's also about listening, listening to all the people. He quotes Arthur Miller- "A good newspaper, I suppose, is a nation talking to itself." President Biden showed this in his State of the Union address, by working hard to listen to what the nation is saying about itself, about communities all across America that were for too long being ignored while jobs were sent overseas and communities suffered. For far too long, a period that stretched into four decades, turning them into the "invisible" people. Ninety years after Carl Sandburg's "The People, Yes" the task is one of restoring that voice of the people of America. About Lincoln, Sandburg wrote that he said Yes to the paradoxes of democracy, Yes to the hopes of government, No to debauchery of the public mind, Yes to people struggling in the middle of illusions, which of the faiths and illusions would he or she choose for his portion of the light, to take one out of the wilderness. If death was in the air, so was birth.   ...

LyrArc Article Gist
The cooperation announced between India and Britain on the experiment to look at one grid between countries in different time zones could be a game changer in the way new technologies have already achieved in making solar less costly than fossil fuel. Embrace of new technologies is essential for achieving net zero emissions. India first proposed connecting solar energy across countries and time zones at the International Solar Alliance in 2018. If a way can be found to integrate the grid across time zones the problems of solar energy could be tackled effectively. Storage would not be needed in the way it is now as the solar energy can be sent to other areas with the demand. And the equally vexing problem of supply can be solved as the regions such as Spain could be generating solar energy when the sun had set in India. It is ambitious but it also brings in scientists and engineers from Europe, America, India and Japan to tackle the problem. There is also the opportunity to build on one discovery to make another scientific discovery in the way advances have happened in medicine and science.  And nothing about net zero is not ambitious. One of the lessons Modi learned early in Gujarat is that experiments are needed and to never rule out new ideas. In some of his speeches he describes the early experiments with electricity and solar energy in Gujarat that led to more ambitious efforts over time, and eventually to where solar targets like the one made at COP26 Glasgow of 500 gigawatts by 2030 are now within reach. ...

LyrArc Article Gist
The increase in colorectal cancer, one form of cancer, to more people under 50 years shows the role of healthy and unhealthy habits in food and exercise in causing cancer. People with bad food habits, smoking, obesity, are more at risk of cancer in general. This report says recent generations have been more exposed to red meat, ultra processed foods and sugary beverages- it is a comment on the times and habits that had deteriorated after 1980's and the lack of awareness of the dangers until the pandemic hit hard.  The overuse of painkillers and other medications and the impact on good and bad bacteria in the gut of lack of careful use of medications. It also points to the need for reducing chemicals in the environment as the effects can be seen in higher cancer rates. It must be of the highest importance that all people in America in every region of the country be treated in the same way, not leaving chemicals to be dumped in areas that are poor or neglected- as more cases are seen this report says in the cities and towns along the Mississippi river, in southeastern states, and it shows the impact of trace chemicals of nickel, arsenic, and chromium from industrial plants, chemical plants, and coal production. Forever chemicals can be found as some reports show also in peaceful looking landscapes in America- such are the dangers unless the people of America insist that their leaders fight these wars before culture wars and over other issues not central to the welfare of all Americans in every part of this Nation. ...

LyrArc Article Gist
As Governor of South Carolina for two terms 2011-2017 Nikki Haley played a major role in getting Boeing to expand its operations in the state and attracting auto companies and other manufacturing industries. South Carolina had suffered from the decline of its textile industry from an earlier industrialization era. She personally helped recruit smaller companies such as Kent Cycle to set up plants in the state.  Nikki Haley's father Ajit Singh Randhawa  is from Amritsar, India, and went to the University of British Columbia on a scholarship for advanced studies in 1964. He was a professor at Punjab Agricultural University before going to Canada. His wife Raj Kaur had a law degree from University of Delhi and after getting a Masters degree in education taught in public schools in South Carolina for 7 years. Ajit Singh moved to South Carolina as a professor of biology at Voorhees College after receiving his PhD. in 1969. Nikki Haley graduated from Clemson University in 1994 with a Bachelors degree in Accounting and Finance. After working for FCR she joined her family's clothing business started by her mother. From 2005 to 2011 she served in the South Carolina House of Representatives. The report from Politico on Haley's career shows her to be resilient and sticking with her beliefs and principles even as she found herself to be the only immigrant  prominent in southern state politics of South Carolina. She also served as US Representative at the United Nations 2017-2018 following two terms as governor of South Carolina.  ...

LyrArc Article Gist
A new Gallup poll shows only 7% of Americans find Media to be "trustworthy" and 38% say they have no trust at all in the Media, such as newspapers or television shows. We cite this as a Early Warning before readers look to the media to understand the Nation's president. Lyrarc.com found the president to have a score of 9 out of 10 for yesterday's NATO news conference for grasp of complex details, his way of getting this across in plain English to viewers, the complex problems he is tackling which no cognitive test cleared could enable one to tackle. Remember Corinthians 3-18, 3-19, when it comes to the Media that take the place of the People and the Nation-" Let no man deceive himself. If any man among you seemeth to be wise in this world let him become a fool, that he may be wise. For the wisdom of this world is foolishness with God. For it is written he taketh the wise in their own craftiness. And again, the Lord knoweth the thoughts of the wise, that they are vain." To have a Janet Yellen at Treasury, Jake Sullivan at National Security, Garland at Justice Department and others of that caliber around him Biden has to interact with and guide some of the sharper minds that America can put out. To have their confidence and their wholehearted support in what he is doing for the people, requires a sharp and alert mind from Biden. ...

LyrArc Article Gist
Ajit Singh , president of Google for Work, shares insights he has gained over the years with the NYT's Adam Bryant. He says coaching with a positive attitude and offering advice in a positive way as things happen, so that it doesn't sound like mere criticism, is important. This is actually received enthusiastically if done correctly because people believe you are helping them succeed. Communicating with your team and others is also very important, to provide inspiration and meaning for work, and requires careful thought. In his work he concentrates on a few things as its not possible to everything well.

LyrArc Article Gist
Portugal's new drug policy that emphasizes treatment over criminal prosecution for possession of drugs. To be clear police stop and confiscate any drugs found and drugs are still illegal. Its only that instead of sending offendors to court and jail, the offendors are sent for treatment and community work, and assigned to dissuasion teams consisting of team of psychologists and social workers who work to keep recreational users from getting addicited and help with treatment for others. The Economist reports that this approach is producing better results than the previous system that empasized judicial processes and criminalization for drug use.

LyrArc Article Gist
Carlin and Lewis call for a reconsideration of US policy towards North Korea. They have visited North Korea several times, and say that Americans are as isolated from the North Koreans as the North Koreans are from the rest of the world. America once saw China and Vietnam as countries with which America found it impossible to engage, today it is N. Korea, say Carlin and Lewis. They also point out that with China's support on a long term basis, US hopes that North Korea will simply collapse is a weak reed to base US policy on.

LyrArc Article Gist
The longer the recession, the lower the wages on the next job and the quality of work in the next job, says Columbia University labor economist, Till von Wachter. It may take years for the wages of these workers to catch up to what they were before the recession. From 2007 to 2009, more than half the full time workers who lost jobs they had held for more than 3 years, and then found full time work by early 2010 reported wage declines, according to the Labor Department. About 36% reported the new job paid at least 20% less than the earlier job.

LyrArc Article Gist
Nestor Kirchner was a not so well known governor of the Patagonian province of Santa Cruz when he won the elections in the first round by only 22% of the vote in 2003. He steered Argentina out of the financial crisis in 2003 and Argentina has seen high growth rates with booming agricultural exports to China throughout the decade. In 2007 his wife Christina Kirchner was elected president and Nestor Kirchner assumed the leadership of the governing Peronist party. After initial difficulties and low ratings Christina Kirchner's ratings improved to over 40% in 2010 as growth rates approached 9.5%.

LyrArc Article Gist
BT Group PLC acquired mobile company EE from Deutsche Telekom of Germany and Orange SA of France for 12.5 billion pounds in cash and stock. EE is the UK's largest mobile company and BT Group the largest fixed line telecom company. With this acquisition BT Group can now bundle fixed line, mobile lines, and television services, to increase subscriber revenue. Deutsche Telekom with a 12% stake is now the largest shareholder in BT Group. Orange will have a 4% stake. The acquisition provides BT Group with a faster 4G network and 30 million EE customers, 24.5 million direct mobile and 834,000 broadband.

LyrArc Article Gist
 Frustration has grown with the poor early management response from U.S. Health and Human Services Secretary Alex Azar, says WSJ.  The president responded at one point with a tweet that "he told me nothing until later." The WSJ looked into Mr. Azar's missteps in a report recently. The president is considering replacing Mr. Azar says WSJ. Ms. Verma the head of Medicaid and Medicare Services is being considered. She has worked closely with vice president Mike Pence throughout this crisis. Mr. Azar served as HHS general counsel and later deputy secretary under president George W. Bush. He then worked as lobbyist for Eli Lilly.  This WSJ report says Mr. Trump called Mr. Azar on his flight from India to Washington, and the next day replaced Mr. Azar as head of the White House coronavirus task force with Mr. Pence. The president says repeatedly that vice president Mike Pence, as head of the White House task force has worked night and day round the clock to guide the effort- including talking to 51 state governors, coordinating the entire effort, and providing the president with reliable advice. In the depths of this crisis never has so much depended on so few- on vice president Pence, a former governor of Indiana, Admiral Polowczyk, Dr. Birx, Dr. Fauci, and the governors of states worst affected by the coronavirus. ...

LyrArc Article Gist
Gerry Adams of Sinn Fein in Northern Ireland says in the NYT that some way has to be found to respect the vote of 55% in Northern Ireland in favor of remaining in the European Union. He says Northern Ireland and Scotland should not be made to leave the EU because of a different preference expressed in England and Wales. He points to one of the most harmful effects of the Brexit i- the return to a hard  border between the EU state of Ireland and Northern Ireland. This will affect the economic, healthcare, tourism, business and cultural links of Ireland in the north and south, and reverses the gains of the 1998 Good Friday Agreement. He calls it a result of factional infighting in the Tory party, the rise of far right anti immigrant groups such as UKIP, and the Gove faction which never really supported the peace deal in Ireland that has brought two decades of peace. Adams says concurrent referendums for a united Ireland is one solution to this problem. Another is an All Ireland forum of political parties and civic partners to meet, and for the Irish Government to stand behind the Good Friday Agreement, so that the Brexit does not hurt the interests of Ireland as a whole. ...

LyrArc Article Gist
Former U.S. Treasury secretary Robert Rubin talks to Charlie Rose about the August 2 Debt Ceiling and Deficit legislation. He says there are two constructive things about the legislation. There are no serious cuts in 2011 and 2012, so there will be almost no loss in demand as spending cuts do not affect the immediate 18 month period. Former Treasury Secretary Summers also makes this point. And that the cuts include defense and non-defense. He favors the approach of the Bowles-Simpson Commission. On the overall situation Rubin points out the importance of getting a real public discussion going about what this means, what the consequences of decisions made now. Especially important for Rubin is public understanding of the importance of setting up a serious deficit reduction program that sets the date of implementation a couple of years into the future to give time to get back on track, and the need for increased revenues. A useful point Rubin makes is that the question of jobs and the question of getting into a sound position fiscally are really the same question. He cites his experience in 1993 when he helped President Clinton setup and implement a deficit reduction program- which had half spending cuts and half revenue increases. Bowles-Simpson Commission recommendations for closing loopholes for tax expenditures and Martin Feldstein's similiar proposal for limiting the deductions and exclusions to 2% of Adjusted Gross Income offer an option that creates revenues without any tax increases....

LyrArc Article Gist
Tim Lee has predicted the collapse of the Turkish currency Lira for 7 years in his investment newsletter. Like other economists who saw warning signs in Turkey's overdependence on foreign capital to finance credit and growth, Lee found himself ignored and lost clients as the Turkey boom that benefited Mr. Erdogan party continued.  The doubling of tariffs on Turkey's steel has finally focused investors minds on the situation in Turkey. These figures are sobering- about 70% of Turkey's economy is dependent on foreign loans denominated in U.S. dollars, according to the IIF, the Institute of International Finance. The loss of the currency Lira's value by 70% in 2018 means that the dollar denominated loans made by Turkish banks to businesses in Turkey will be harder to pay with revenue made in Lira. Another startling statistic is that American investors own 25% of outstanding Turkey's bonds, and about 50% of publicly traded Turkey stocks. The deterioration of relations with the U.S. is more likely to lead to investors focusing on this aspect of the Turkish situation and pulling back.     ...

LyrArc Article Gist
Polish and other Eastern European immigrants to Ireland return home from the Ireland aand the UK as the economies of the 2 countries and unemployment deteriorate and improved job prospects draw the immigrants back home. In fact share of immigrants in ireland reached a high of 155 as Ireland averaged economic growth rates of 5% for many years. Nearly half a million received the irish version ofa social security number. Polish immigrants were the highest almost two thirds followed by Lithuanians and Slovakians. Hourly wages for Eastern European immigrants are 45% less than for Irish people with the same education and experience. Now Ireland's growth has dropped to 1.2% for the last quarter. The reversal is also of the similiar magnitude. A citigroup econ9omist in Warsaw estimates that half of Polish immigrants to Western Europe will return home in the next 2 years. In the UK half of an estimated one million Eastern European immigrants have already left says London Institute for Public Policy Research in an April report. As the immigrants return the currency dynamics also help the pound has lost 40% of its value against the zloty, Poland's currency, and this makes the UK less atttractive to immigrants. Overall the EU immigration opening has helped both sides, as it has helped stabilize the Polish economy and the UK has gained from the immigrants services as it moderated wage inflation and increased domestic demand and met the demands of the economy as it was growing. Now there is a fear that too rapid an exit of immigrants would hurt demand in these economies and also overwhelm labor markets in Poland. Another noteworthy feature of this immigration wave was the low cost of airlinne tickets which has helped travel across europe and also helped European integration. One immigrant a polish mechanic says that he felt more like a commuter than a migrant, as it conly cost $150 a round trip. How are things in Poland today as they return. Very very different. EU entry has really helped Poland through foreign investment and aid from Brussels to assist the country in its catching up progress. Average monthly wages have gone up 30% with construction wages up 50%. and inflation a low of 4.4%. The difference is striking in the medieval city of Krakow in the southeast that has emerged as an information technology and outsourcing hub. where a steady stream of returning workers is helping companies hire workers to meet the new growth. German commercial truck maker MAN has finished recruting 250 mechanics for a new plant in Krakow with 40% of applications from returnig workers. And those who are returning bring fluent English skills and expertise gathered during their stay overseas, and new attitudes to work. This happened to Ireland as Irish workers returned home in the early years of its boom, they hared skills and attitudes learned abroad, according to an economist at Dublin's Economic and Social Research Institute who sees the same thing happening in Poland....

LyrArc Article Gist
Eric Schmidt, former chairman of Google, says that dependency taken to this extreme where TSMC makes 92% of the advanced semiconductors needed for every smartphone, laptop and missile systems, needs to be quickly corrected. He says America's technology advantage could face serious damage with the Taiwanese production lost in the event of war or missile attack. The supply chain is already at risk with over 70% of supplies of silicon, tungsten, and gallium in the supply chain under China's control. Surprisingly Schmidt does not ask for action beyond Congress authorizing the $50 billion investment proposed for American manufacturing of semiconductors. What is needed as Andy Kessler has proposed in WSJ is to ask Taiwan and South Korea to invest in the US and allies such as  India where production cost challenges can be met with the engineering manpower and facilities as has been done in health care and vaccines manufacturing. Only token or small investments have been made by South Korea and Taiwan in the US compared to what is required. The US should ask for this to be done as part of the exchange for security guarantees that the US is already making for South Korea and Taiwan. It is also the responsibility of South Korea and Taiwan to make these and other investments in other technologies considering it as its obligation to the Free World. For too long countries in Asia that have benefited from US assistance have ignored their reciprocal obligations to the US. Japan, South Korea, Taiwan, and China have all benefited from US technology sharing and assistance. It is only an egregious example that China has put itself in the situation where Japan found itself or placed itself in the first half of the twentieth century.  ...

LyrArc Article Gist
This WSJ report looks at the state of manufacturing in India in 2023. Foreign companies in renewable energy from Denmark, Apple Computer, and local companies such as Ola in electric scooters, are building factories and expanding manufacturing capacity in Sriperumbudur and other special economic zones in Tamilandu state of India. BMW and Nissan are also located in the state. It comes as friendshoring from the US is encouraging foreign companies to invest in India. There is a definite acceleration in the growth of electronics and machinery exports under the Indian government's Make in India plan. This report shows that India is in a learning curve in developing its manufacturing base. Not shown here are how the goals and execution of a sound overall plan is envisioned by the government. The Gati Shakti plan put forward by Mr. Modi is intended to bring together all agencies of the government to work together seamlessly to provided an overall execution of infrastructure development for logistics, airports, fast rail, roads and bridges, and modern housing. It is a National Master Plan for Multi Modal Connectivity that brings together 16 ministries for building state of the art infrastructure. The national plann ing agency NITI Aayog says it recognizes the multiplier effects plus spillover effects of infrastructure development for  Indian manufacturing, and understands how the US, Japan and China accomplished this going back to the New Deal in the US in the 1930's. It can also pioneer in new ways learning from the experience of these countries. This will bring results in demonstrating how India is learning and developing its own model of the best way to build excellent infrastructure, and do this with renewable energy, and environment inclusive efforts.    ...

LyrArc Article Gist
WSJ talks to Adam Grant, Prof. of Organizational Psychology at Wharton School of Business, on the importance of experimenting with different ideas. For every decision A and implementing it one forgets that there were other decisions that could have been made B, C, D or E, and each one offered new ways to experiment and try out new ideas. Grant is author of the book-" Think Again - The Power of Knowing What You Don't Know." Here he talks about how some CEO's used the pandemic (a problem) as an opportunity to experiment with new ideas on work to create productive happier workplaces. Others were too afraid to experiment. Grant says research data shows people are more likely to stay in a hybrid structure, because it gives them flexibility. From the productive workplace perspective this means people have to develop new skills and new muscle in a kind of experiment. This is what he says many CEO's are fearful to try out, now that they are reverting to the old workplace in the office-to what they know.  His biggest fear is that the experimentation that covid brought to us will stop. He sees four days of focused work a week or six hours of concentration in work a day, as way better than 8 hours of distracted work or five unmotivated days. Not just personal bonds are necessary says Grant, clear roles and goals are needed. And people need to be excited about what they are doing, which is possible he has found when they know the work has meaning for people who they are serving. ...

LyrArc Article Gist
Pocketbook issues are taking increasing importance in the French election on April 24. Greg Ip of the WSJ says inflation has risen in importance more than immigration, the war in Ukraine, and other issues related to Islamist separatism. About 45% cited purchasing power as the main issue in a BVA poll, and this is even higher for people who voted for Jean-Luc Melenchon who came within 1% percentage point of Ms. Le Pen in the first round. Greg Ip says that in economic issues France has done better than Germany, Italy or the UK. Unemployment is at 7.4% the lowest since 2008. Economic output has risen more than in Germany, Italy or the the UK since Mr. Macron took office. And one study shows disposable income has risen higher under Macron than under predecessors Hollande and Sarkozy. France also spent heavily to tackle the Covid pandemic's effect on workers and companies. Ip says Macron's efforts to liberalize labor markets, simplify taxes and wage bargaining and make training programs more effective could be the reason. Youth unemployment is the lowest in nearly 40 years, and the number of apprenticeships doubled from 2019 to 2021, according to BNP Paribas. Pisani-Ferry, economist at Sciences Po says compared to past performance the French economy did much better. Le Pen has promised to cut the value added tax to tackle inflation's effect on voters. Macron has said he will be flexible when it comes to raising the age for retirement and pensions and calls Le Pen's lowering the retirement age creating problems for the solvency of the pension system and highly unrealistic.   ...