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Kamala Harris tells America it is time to build an Opportunity Economy
08/17/2024
Creating opportunities for all and taking action on the Cost of Living concerns of ordinary Americans was the theme for Kamal Harris rally in North Carolina with president Biden. There she set out her economic plan to limit grocery costs, cut housing costs and cut pharmaceuticals costs, address child care, and pave the way for an Opportunity Economy, A New America Way Forward.
Linked Articles
Remarks by Vice President Harris at a Campaign Event in Raleigh, NC | The White House
The White House 08/17/2024
Harris vows to build ‘opportunity economy’ and attacks Trump on taxThe Guardian 08/16/2024
The collapse of American education and the slowest growth in America's history 2000-2020 as Biden tries to reverse this in 2024
05/19/2023
Krugman looks at the extraordinary effort put in by Robert Gordon of Northwestern University to look at the growth of America since 1850 over periods 1850-1870, 1870-1910, 1910-1950, 1950-2000 and 2000-2020 showing that the last 20 years have the lowest growth in American history. Gordon looks at the near collapse of American education, scores on NAEP of two thirds of 8th graders failing reading comprehension reflect this sad state of affairs that president Biden is trying to reverse in 2024. Other research shows a drop in potential GDP of 2 percentage points when education is failing as it has been for 2 decades. Other researchers have shown what is openly evident today that technology such as social media do more harm, that other internet use technology has not done much for education only established monopolies as with Google and Apple.
Linked Articles
Paul Krugman Reviews ‘The Rise and Fall of American Growth’ by Robert J. Gordon
New York Times 01/25/2016
'Secular Stagnation' May Be for RealWall Street Journal 08/27/2014
Clean drinking tap water for every home - the stark contrast between China and India
04/05/2023
What this tells one is that GDP requires a new indicator which is Quality GDP which will mean that if you pollute rivers and air then real GDP as an economic concept is totally inadequate even useless, unless one subtracts from that economic GDP number the amount of investment it would take to clean up the rivers or the air. If regulatory agencies cannot control industries from polluting rivers, the case in China, then an additional number has to be subtracted from economic GDP called regulatory deficiency adjustment. The GDP numbers were gained through indiscriminately burning fossil fuels and this means climate change damage so that to be correctly stated China's GDP number would have to be offset by deducting the adjustment for trillions of dollars in climate change correction action. This would shrink the gap between India and China's GDP to where India may be in a position using advanced technology, renewable energy, regulation, and large foreign investment to close the gap with China in the next 10-15 years. China could also benefit because of the new approaches taken by India could be something to learn from as the two countries each have the population of the EU and the US+ Canada combined.
Linked Articles
In China, the water you drink is as dangerous as the air you breathe | Deng Tingting
The Guardian 06/02/2017
Jal Jeevan Mission achieves 60% of its target, says govtHindustan Times 04/05/2023
Friendshoring- US Treasury Secretary Janet Yellen and Jake Sullivan NSA Advisor's call to invest in India
03/07/2023
American leaders president Biden, Treasury Secretary Janet Yellen, and National Security Advisor Jake Sullivan call for friendshoring- to invest in Indian manufacturing. This will reduce concentration of manufacturing in one country and create abetter more resilient supply chain. The pandemic and supply chain problems that added to inflation showed the extraordinary risks of the existing supply chain. As pointed out by FInance Minister Nirmala Sitharaman in an interview at Raisina Dialogue India is creating the right conditions to attract foreign investors in Indian maufacturing for advanced technologies.
Linked Articles
U.S. Pursues India as a Supply-Chain Alternative to China
WSJ 03/06/2023
Raisina Dialogue 2023: In conversation with Finance Minister Nirmala SitharamanThe Economic Times 03/06/2023
Ashwini Bhide, 1995 IAS batch, tireless worker for the millions of Mumbai residents looking for better modern Rail
07/13/2022
Ashwini Bhide was the head of the Metro Rail project in Mumbai and the first woman to be profiled by WSJ in this way - as a tireless worker for getting modern Rail with the latest technology to Mumbai after decades in which millions of Mumbai residents had to put up with old, dilapidated, incomplete rail subway services. It is work that meets the aspirations of Young India and which would make Mohandas Gandhi proud a century later. It shows that India can deliver on the kind of infrastructure needed for making project Make in India work.
Linked Articles
Newsmaker | Fadnavis ensures pet Metro project on track, puts Ashwini Bhide back in driver’s seat
The Indian Express 07/13/2022
‘You Have to Actually Cut Open Mumbai’s Belly’—Inside One of the World’s Most Audacious Transit ProjectsWSJ 05/08/2023
Vaccines that took 40 years to develop- vaccines for malaria and coronavirus
10/17/2021
In a world of short run startups it is important to remember that our lives truly depend on the work done by scientists over decades. The stories of the scientists who developed the vaccine for malaria and the vaccine for mRNA technologies embedded in Pfizer vaccine.
Linked Articles
The Vaccine That Took 40 Years to Make - The Journal. - WSJ Podcasts
WSJ 10/17/2021
Their coronavirus vaccine candidate has made them billionaires. This modest German Turkish couple doesn’t own a car.Washington Post 10/17/2021
America's self-reliant economy - Biden with Trumpian undertones
01/21/2021
The Biden administration is seen as continuing the efforts of president Trump to pursue American interests in trade, technology, American workers and business to restore America's leadership role in the free world to what it was in the 1950's. Biden from Delaware is in the same tradition as president Harry Truman from Missouri in that period. Because of Biden's age this could be a one term presidency, and strange as it may sound it could be a presidency of Trump in foreign affairs and trade, technological leadership, without the rhetoric, and a socially cohesive presidency of Democrats in the tradition of Harry Truman. What then to make of all the fights of the Trump presidency? Much of this can be seen as an effort to break the status quo which did not benefit American workers.
Linked Articles
Biden’s Economic Team Charts a New Course for Globalization, With Trumpian Undertones
WSJ 12/01/2020
Trump touts record of ‘no new wars’, standing up to China in farewell addressFrance 24 01/21/2021
The San Francisco region and the destruction of Jobs in America
12/09/2020
As far back as 2008 Intel's Andy Grove a patriotic founder of technology business in northern California saw the danger in the San Francisco region based Silicon Valley taking a disproportionate amount of America's resources in capital and technology and in return not creating jobs for the American people.
Linked Articles
How China Built ‘iPhone City’ With Billions in Perks for Apple’s Partner
The New York Times 12/29/2016
Andy Grove: How America Can Create JobsBusinessWeek 07/01/2010
How Germany made "total" contact tracing the mission in early March, and how it limited spread of coronavirus
05/26/2020
Linked Articles
The first wave: How Germany’s coronavirus contact tracers helped to ease its lockdown
The Times 05/26/2020
While U.S. struggles to roll out coronavirus contact tracing, Germany has been doing it from the startWashington Post 05/25/2020
Finances stretched to limit by trillions of dollars in coornavirus aid packages and tax revenue from digital
05/15/2020
Linked Articles
Analysis | Why Digital Taxes Are the New Trade War Flashpoint
Washington Post 05/15/2020
France to impose digital tax with or without international agreementFrance 24 05/15/2020
Emmanuel Macron and the challenge of reviving France's economy
05/08/2017
France's central bank chief Noyer points out that once the public sector crosses the line of 55% of the economy France loses ground. Jobs created are from an earlier period, and fewer new technology jobs of the future are created. The challenge for Macron is to rein in the public sector and revive French industry so new jobs are created for young people.
Linked Articles
Macron's presidency: It's the economy, stupid! | Business | DW.COM | 08.05.2017
DW.COM 05/08/2017
The Emperor Creates No JobsWall Street Journal 05/29/2013
The resilience of U.S. auto sales in 2015-2016- new management, technological advances and pent up demand
01/06/2016
The U.S. automobile market and its resilience is one factor in the improving economy in 2016. New management and technology provide a resilience for automakers that never existed before.
Linked Articles
U.S. Car Sales Set Record in 2015
Wall Street Journal 01/06/2016
U.S. car sales hit record high in 2015 - The Washington PostWashington Post 01/06/2016
2016 U.S. presidential candidate Jeb Bush's Tax Plan that spells out details, and takes a shot at 4% growth for restoring lost social and economic mobility in the U.S.
09/09/2015
The efforts to wrestle with the deficit in 2011-2012 led to a vigorous debate on changing the tax code, yet political leaders failed to take up new ideas or spell out the details. Jeb Bush, with advisors Martin Feldstein and Kevin Warsh, takes the unconventional approach of putting in the details, and taking up ideas such as the idea of limiting itemized deductions to 2% of adjusted gross income proposed by Feldstein in that debate. On the $2.1 trillion in income held overseas by U.S. companies Bush proposes 8.75% tax paid over 10 years. On business investment he proposes capital investment be allowed to be deducted in full immediately. It is based on the idea that business investment can drive a vigorous recovery, that workers bear 50% of the burden of higer taxes through sluggish wage growth. It levels the playing field for debt and equity capital, removing "carried interest" provision, as a lesson from the excessive leverage taken by financial institutions in the past.
Linked Articles
Wall Street Journal 09/10/2015
Jeb Bush Tax Plan Makes Forays Into PopulismNew York Times 09/09/2015
Li Keqiang and the era of Openness in China 1977-2023
11/02/2023
LI Keqiang was able to pass entrance exams to Peking University in 1977 after entrance exams were reinstated following Mao's death. He led the modernization of China during the 2000-2022 period two decades of fast growth turning China into a middle income industrialized country after centuries of decline. During this period China urbanized at a rapid rate and Li's advanced studies focused on urbanization. It was also a period when China realized the damage done to the environment and quality of air, water, with haphazard growth, and shifted to climate change action through focus on solar energy and limiting use of coal.
Linked Articles
China Mourns Former Premier Whose Death Hovers Over Xi Jinping
WSJ 11/02/2023
Next Premier Came of Age in Era of OpennessWall Street Journal 11/16/2012
Mr. Trump's loosening of banking regulation and regulatory culture and the crisis it caused.
04/29/2023
The laws passed in the US Congress to limit the regulation of US banks imposed after the 2009 crisis led to leaving a gap for midsized banks where there would be less regulation. The appointment of Randy Quarles to Fed Vice Chair Supervision by Mr. Trump in 2019 led to the new culture which took the attitude the less regulation the better 14 years after the 2009 banking crisis, and the collapse of several banks in 2023, endangering the US banking system when the US needs a huge capacity to invest in the nation.
Linked Articles
Limits to China's economic recovery from local government debt and smaller pool of savings
03/07/2023
A smaller pool of savings and build up of debt during the pandemic limit the extent of China's economic recovery. The trillions of dollars of local government debt and the slowdown in the construction sector act as barriers to growth in China.
Linked Articles
Covid-Era Savings Are Crucial to China’s Economic Recovery
WSJ 02/26/2023
China’s Cities Struggle Under Trillions of Dollars of DebtWSJ 03/06/2023
Softbank the epitome of massively distorted capital markets even as healthcare, childcare, manufacturing technolgies, infrastructure suffered severe lack of funding
08/08/2022
How Softbank became the epitome and poster child for the distorted capital markets of today is shown here in the WSJ. It is a sad story of how America and Europe failed to invest in its people with egregious harm to 900 million people as healthcare, childcare, manufacturing technologies and infrastructure were neglected.
Linked Articles
WSJ 08/08/2022
SoftBank Reports Record $23 Billion Quarterly Loss as Tech Downturn HitsWSJ 08/08/2022
The movements in Bombay from George Fernandes to Bal Thackeray that failed to transform the commercial capital of British India and the state of Maharashtra
07/02/2022
Lacking the capital, technology and the industrial expertise on an American scale the early efforts for rapid development struggled in the state of Maharashtra and India. just as they had struggled under volatile politics of Mao in Beijing, Shanghai and China.
Linked Articles
Shiv Sena | The Maratha tiger in its labyrinth
The Hindu 07/02/2022
Remembering George Fernandes: A selfless politicianThe Indian Express 07/02/2022
How America is building a new chip manufacturing industry at home
07/22/2021
After years of neglect of manufacturing Intel Corp and other companies are building a new chip industry, as America reverses years of decline in manufacturing at home. The importance of manufacturing technologies and years of cumulative expertise in developing new technologies, are now seen as critical for American leadership. US president Biden pushed for these changes, leading to a new CEO and a U turn by Intel Corp.
Linked Articles
Intel CEO’s Chip-Building Plan Has a $50 Billion-Plus Price Tag
WSJ 07/16/2021
The World Relies on One Chip Maker in Taiwan, Leaving Everyone VulnerableWSJ 06/19/2021
A new dawn for American manufacturing
12/15/2020
After three decades of decline American manufacturing reached a low point in 2020. Yet negative trends of low capital investment, lack of supply chain onshore, lack of investment in new technologies, are now being reversed. The warnings of the Trump administration are having an effect. There is now hope for a bright future with new investment and new technologies to regain U.S. leadership in manufacturing that it held for most of the twentieth century.
Linked Articles
U.S. Manufacturing: Why 2020 Was the Bottom of a Long Decline
WSJ 12/15/2020
The Covid Crisis Taught David Farr the Power and Limits of LeadershipWSJ 12/04/2020
India's growth predicted at an "unprecedented acceleration" in 2021-2022 after the pandemic
12/08/2020
India's unprecedented growth in mobile manufacturing planned for 2025 under PLI incentives and in 5G technologies by 2021-2022.
Linked Articles
HTLS 2020: India’s new era will be defined by the idea of decentralization
Hindustan Times 12/08/2020
‘India will prove cynics wrong...’: Mukesh Ambani on economy, Jio 5G, vaccineHindustan Times 12/08/2020
Finances stretched to limit by trillions of dollars in coornavirus aid packages and tax revenue from digital
05/15/2020
Linked Articles
Analysis | Why Digital Taxes Are the New Trade War Flashpoint
Washington Post 05/15/2020
France to impose digital tax with or without international agreementFrance 24 05/15/2020
India's general election in 2019- performance and flaws of the Modi government
06/05/2018
Differing views of the Modi government, views of the middle class hurt by demonetisation uncertainty from Dhume and views representing the interests of the rural, lower income and other part of the middle class from Arvind Panagriya. Some of the changes brought about by the Modi government reflecting the vision of Mahatma Gandhi for fundamental change from the ground up in the villages and rural parts of India- health and sanitation, access to bank accounts, access to health care- coupled with Nehru's vision of modernization using the technologies of the twenty first century.
Linked Articles
Times of India Blog 06/05/2018
Modi government at four years: It has pushed through a range of structural reforms whose results will showTimes of India Blog 05/30/2018
China's currency, the yuan, and the central bank PBOC's effort to limit depreciation of the currency and capital outflows in 2016-2017
01/15/2016
Linked Articles
China’s Jittery Savers Could Pose Capital-Flight Threat
Wall Street Journal 01/15/2016
Confused by China’s Yuan? It’s IntentionalWall Street Journal 01/15/2016
The problems threatening the white working class in America and the rise of cultural illiberalism
11/12/2015
Experts point to the economic anxieties of the white working class in America, a broad group that has increasingly fallen behind as technology advances in the 21st century with globalization and mobile capital, causing serious social fissures in society. One of the dangers is to the ideas of liberal society itself with the rise of cultural illiberalism, such as that presented by the Trump candidacy for president in 2016, and Marie Le Pen's National Front in France, as liberal elites in centre right and centre left lose their hold on working class voters.
Linked Articles
The Bleak Reality Driving Trump’s Rise
Wall Street Journal 12/16/2015
The missing working class - The Washington PostWashington Post 11/12/2015
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