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Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
Tags: Renewal America, Early Warning, Renewal Europe, Leadership Skills, Australia, United States, Canada, France, Germany, Italy, Russia, Spain, European Union, China, Japan, South Korea, India, Indonesia, Argentina, Brazil, Mexico, South Africa, Nigeria, Britain, Women, Inequality / Upward Mobility, Diversity, Telecom, Information Technology, Capital Markets, Banks / Insurance, Automobiles, Consumer, Healthcare, Food,
Von Mark Schieritz of Germany's Zeit Online describes the changes underway following the election campaigns in the U.S., and France, and the Brexit vote in Britain, all signalling the discontent of people left behind by the tech, capitalism, trade and globalization changes of the last two decades. The appeal of one time fringe politicians using racist slogans and divisive rhetoric to appeal to those left behind, appealing to people lacking intergenerational mobility, and without much hope for a better future, is a serious concern. People who are gullible enough, lack college education, or racially isolated so that they are not likely to look carefully at what is being offered in terms of programs and change of competing parties, and likely to overlook the hard and difficult road for corrective course of action, because of anger and pentup fears. Schieritz cites as part of this change the unanimously approved conclusion in its final declaration at the G-20 meeting in Chengdu, China- "The benefits of growth need to be shared more broadly within and among countries to promote inclusiveness."
Yet this can be a sort of "too little, too late." Bankers who are cited in an email going around Wall Street lack credibility with groups on Main Street, to people adversely affected by tech, trade and globalization changes that have been persistently ignored for over a decade, close to two decades. More convincing is the tone of Theresa May, the British prime minister's first statement outside 10 Downing Street- who spoke of the "burning injustices" and her determination to make this a top priority of her government. Still more convincing are the programs to invest $275 billion over 10 years in infrastructure put forward by the leading candidate in the U.S. presidential election of 2016, to provide easier access to public universities and colleges to those left behind, as a sure way to create new jobs and address intergenerational mobility. In fact every leading candidate had made the loss of upward mobility their central plank already in 2015, long before Trump and Sanders started their campaign. The real hope lies in western leaders Merkel, May, and Clinton, all keenly aware students of changes, all women by the way who have sensed the injustice and have the ability to come up with something new and promising for the future, after learning the lessons of the past.
Capitalism and globalization that leaves many behind- the refocus planned at the G-20 meeting in China
08/17/2016
Dangers to the global economy from many left behind by the tech and trade changes of the last 2 decades that have benefitted some sectors and groups and hurt others. Turning to populist political appeals those who feel left behind and suffer the effects of a lack of intergenerational mobility could lead the world into a period of protectionism and nationalist upheaval. This would reverse many of the changes that delivered prosperity for the four decades after World War II.
Grouped Articles
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
World Trade Set For Slowest Yearly Growth Since Global Financial Crisis
WSJ 09/27/2016
WTO lowers trade growth forecast | Business | DW.COM | 27.09.2016
DW.COM 09/27/2016
More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade
The New York Times 09/28/2016
12/19/2016
On Globalization, China and Trump Are Closer Than They Appear
WSJ 01/27/2017
China's State Capitalism
04/15/2009
Grouped Articles
Uncertainty bedevils the best system
Unknown 04/15/2009
Tackling the Many Dangers of China's State Capitalism
Wall Street Journal 09/28/2012
As China’s economy slows, real estate bubble looms - The Washington Post
Washington Post 10/03/2012
Chinese Communist Party Faces Calls for Democracy
New York Times 11/10/2012
Unknown 03/12/2013
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Reflections on Capitalism as a system and the need for public to be re-educated about hazards, at the time of the global financial crisis of 2008-2009
04/15/2009
Nobel prize winner Edmund Phelps offers some useful reflections on capitalist systems and the hazards if not properly grasped.
Grouped Articles
Uncertainty bedevils the best system
Unknown 04/15/2009
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Tackling overcapacity in China for cement, steel and other products- the example of Changzhi's cement factories
08/28/2015
There is huge overcapacity in the cement, steel and other industries in China. Schuman of the NYT describes the situation in the city of Changzhi, with a population of 3 million. Many of the local cement factories are running at a third of the capacity, and the government's focus on keeping workers from being unemployed to preserve social stability, makes it harder to divert capital and labor to new productive uses. There is increasing difficulty in areas away from the major cities of Shanghai and Beijing.
Grouped Articles
Zombie Factories Stalk the Sputtering Chinese Economy
New York Times 08/28/2015
China’s Shift Away From Industry Drains Life From a Steel Town
Wall Street Journal 09/08/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
How China Built a Steel Behemoth and Convulsed World Trade
WSJ 12/24/2018
Elvira Nabiullina- head of Russia's central bank and the careful management of the economy during the collapse of oil prices- 2014-2016
04/12/2016
The careful management by Nabiullina has enabled Russia to avoid the worst effects of a collapse in oil prices. Experts say what Russia needs even more than a recovery in oil prices is the improvement in business conditions after interest rates of as high as 17% are bringing inflation closer to the target of 4%. Russia's rainy day fund of $500 billion in sovereign wealth fund, the devaluation of the rouble, help to the banking system to recapitalize, Russia's vastly expanded pension funds as a source of capital, and assistance to poorer sections of society, have enable Russia to cope with the collapse in oil prices. Yet much more needs to happen for a diversified economy and better relations with European Union to increase foreign investment and improve business climate.
Grouped Articles
Economist 04/19/2016
Why the Russian Economy Is Tumbling
New York Times 04/12/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
For the Kremlin, winning a supermajority in the Russian parliament was the easy part
Washington Post 09/21/2016
U.S. Sanctions Give Russian Economy an Unintended Boost
WSJ 10/16/2018
How crony capitalism damages the economies of developing countries from Tunisia to Egypt and Pakistan
10/14/2014
Under Ben-Ali, Mubarak and Musharraf, crony capitalism damaged the economies of Tunisia, Egypt and Pakistan. Declan Walsh's NYT report on Pakistan Railways is a timeless classic of such reporting. Military or military supported dictators handed key state companies or contracts to cronies leading to the mismanagement. For some reason more of this has happened in Arab or Muslim countries and may created the conditions for the democracy protests in the Arab world in 2012-2013. It also happens in countries with a large and growing number of young people in the population. Crony capitaism also exists in Malaysia and other Asian countries but it has not led to the gross mismanagment seen in countries such as Egypt and Pakistan.
Grouped Articles
Crony capitalism: Friends in high places
Economist 10/14/2014
Assassination in Tunisia Draws Spouse Into Politics
New York Times 10/25/2014
At Birthplace of the Arab Spring, Discontent Opens a Door to the Past
New York Times 10/19/2014
Tunisia's presidential election: In the shade of Bourguiba
Economist 11/06/2014
Fund Controversy Threatens Malaysia’s Leader
Wall Street Journal 06/19/2015
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Credibility of elites tested in the decade following the financial crisis of 2008-2009- falling incomes in the U.S. and high unemployment in Europe, and disaffection in local regions such as Scotland
09/20/2014
Policies of Gordon Brown and Alistair Darling in a Labor government increased the role of the financial sector in the British economy and the part played by London as financial capital, only to lead to a near collapse of the banks in the financial crisis of 2008-2009. Brown and Darling are both Scots who failed to see the effects on regions in Britain such as Scotland, already affected by deindustrialization under the Conservative Thatcher government, and now hit by the repercussions of the financial crisis under first Labor and then austerity Conservative government of David Cameron. Irwin faults the elites for failing to grasp the effects of their policies on average working people, the risks involved in an overblown speculative financial sector, and only waking up with the elections for the European parliament and tense moments before the referendum in Scotland.
Grouped Articles
In Scotland and Beyond, a Crisis of Faith in the Global Elite
New York Times 09/20/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Germany, France Tap Economists for Advice to Avoid ‘Lost Decade’
Wall Street Journal 10/14/2014
Jerry Brown is spending more on ballot measures than on his own campaign - The Washington Post
Washington Post 10/24/2014
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12/04/2014
Mitt Romney and the private equity/consulting practices of Bain Capital at medical equipment company, Dade Behring
11/12/2011
Bain Capital originanted the the merging of management consulting with private equity, for consulting firms to take equity ownership in companies seeking a turnaround. The practice of loading the company with debt, and taking out capital for the investors through a sequence of policy actions, even if this led the company to bankruptcy, became the hallmark of this kind of investing. In most cases this led to large layoffs, was adverse to building human talent in the company, as it was designed solely around generating large and early payoffs for investors. Goldman Sachs was the private equity partner for Bain Capital in the Dade company investment.
Grouped Articles
After Mitt Romney Deal, Company Showed Profits and Then Layoffs
New York Times 11/12/2011
New York Times 11/12/2011
New York Times 12/08/2011
Play of the Week: The Business of America Is....;Job Cuts?
Wall Street Journal 12/24/2011
New York Times 01/02/2012
Wall Street Journal 01/04/2012
The economic viability and cost for middle and lower income groups of China's high speed rail network
06/13/2006
The huge infrastructure investments -estimated at $300 billion- planned for China's high speed rail network began with a decision in 2004 and were accelerated with stimulus investments after 2008. The cost is about 555 yuan o($86) for the cheapest ticket on the 300 mile Beijing-Shanghai route or 9% of monthly disposable per capita income for urbanites. This creates questions of affordability and access for the majority of Chinese. Rail revenues will not be sufficient to pay for the investment and operation of the lines.
Grouped Articles
New York Times 09/23/2013
High-Speed Train Links Beijing, Shanghai
Wall Street Journal 06/29/2011
As China's Auto Market Booms, Leaders Clash Over Heavy Toll
Wall Street Journal 06/13/2006
Chinese Rail Projects Grind to a Halt as Funds Dry Up
Wall Street Journal 10/20/2011
China to Slash Railway Spending
Wall Street Journal 12/24/2011
China Blasts High-Speed Rail System
Wall Street Journal 12/29/2011
Economist Wu and the growing crony capitalism, increasing inequality, and corrupt bureaucrats in China.
03/29/2009
Wu is not optimistic about the future because he says the crony capitalists and bureaucrats want to get richer and their is a widening income gap and other problems that remain hidden because of the lack of a free media.
Grouped Articles
The Slowing of Two Economic Giants
New York Times 07/14/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
Survey in China Shows a Wide Gap in Income
New York Times 07/19/2013
Peopleâs Daily Article Appears to Rebuke Wen Jiabao
New York Times 10/27/2010
Uncertainty bedevils the best system
Unknown 04/15/2009
Hong Kong Wealth Gap on Display in Protests
New York Times 10/05/2014
Mossack Fonseca- the law firm setting up offshore tax havens founded by German immigrant Mossack and Mr. Fonseca, a Panamanian novelist
04/06/2016
The NYT story on the secretive law firm of Mossack Fonseca by Semple, Ahmed and Lipton, provides a detailed account about the founders and their history, and the history of Panama as a capital for setting up this kind of offshore tax havens. Unlike the other tax havens, such as the British Virgin Islands, Panama has been relatively free of regulation for most of its history.
Grouped Articles
Panama Papers Leak Casts Light on a Law Firm Founded on Secrecy
New York Times 04/06/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Expert opinion on capital cushion requirements for large banks to prevent future crises- 2011-2015
01/21/2010
In addition to Basel 3 rules for capital cushions, individual countries have come up with additional safety buffers. Britain's independent banking commission has proposed an additional 3% buffer for large banks. Swiss regulators are asking the largest Swiss banks to have an additional 9% in convertible capital as an additional safety buffer, which would also discourage excessive risk taking.
Grouped Articles
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Swiss Politicians Push for Stricter Bank Capital Rules
Wall Street Journal 11/04/2013
Economist 05/14/2011
Bank reform: Commission accomplished
Economist 04/16/2011
Wall Street Journal 06/04/2011
Dimon in Rough Patch With the Fed
Wall Street Journal 06/09/2011
American Capitalism- the lack of social mobility and educational opportunity, and increasing cronyism in 2012
04/15/2009
Grouped Articles
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
Upward Mobility Has Not Declined, Study Says
New York Times 01/23/2014
The ’1 Percent’ isn’t America’s biggest source of inequality. College is.
Washington Post 05/23/2014
Uncertainty bedevils the best system
Unknown 04/15/2009
Washington Post 11/01/2014
Big Gap in College Graduation Rates for Rich and Poor, Study Finds
Wall Street Journal 02/05/2015
The situation in poor and working class areas of Athens in July 2015
07/11/2015
Charities are having difficulty importing food and supplies to run the soup kitchens and other facilities to help the poor following the impostiion of capital controls. Income inequality in Greece is one of the highest in Europe, with the poor and working class suffering during the crisis. Even if a new bailout is negotiated the humaintarian needs in Greece will increase, say experts.
Grouped Articles
Greece Financial Crisis Hits Poorest and Hungriest the Hardest
New York Times 07/11/2015
The crazy reason we might be facing a huge crisis in Greece again - The Washington Post
Washington Post 04/20/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Putin and Russia's shift in Ukraine policy with the impact of capital flight, western sanctions and a sharp slowdown in the economy by July 2014
07/11/2014
Polls show 66% of the Russian public opposes Russian forces going into Ukrainian territory. The rhetoric on Russian television has been toned down and Russian analysts say intervention in Ukraine would have dangerous consequences for Russia, that Russia needs to maintain its relations with the West. At the same time Putin will attend a summit of BRIC's leaders in Fortaleza, Brazil, with plans to set up a development bank, as the focus shifts back to the economy. Russia is expected to feel the impact of $75 billion in capital flight in the first half of 2014.
Grouped Articles
Seeing Cost of Saber Rattling in Ukraine, Putin Alters Course
New York Times 07/11/2014
U.S. Escalates Sanctions Against Russia Over Ukraine Crisis
Wall Street Journal 07/17/2014
Raising Stakes on Russia, U.S. Adds Sanctions
New York Times 07/16/2014
Putinism Thrives on Dirty Money
Wall Street Journal 07/22/2014
Wall Street Journal 07/22/2014
Coordinated Sanctions Aim at Russia’s Ability to Tap Its Oil Reserves
New York Times 07/29/2014
The way capitalism changed during the period between two wars and how it will change now.
01/04/2009
Industrial peace between management and unions, the multidivisional corporate model, the salaried manager began to take shape in these years between two wars. And the telephone, telegraph and railroads accelerated mobility communication and changes. Now another set of changes are being accelerated by this crisis period, with business taking on a human and societal face.
Grouped Articles
Upward Mobility Has Not Declined, Study Says
New York Times 01/23/2014
Concessions Foreshadow a Tough Year for Unions
Wall Street Journal 01/04/2009
Uncertainty bedevils the best system
Unknown 04/15/2009
Washington Post 11/01/2014
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Sanders, Corbyn and the coming debate inside the Democratic Party - The Washington Post
Washington Post 09/13/2015
The trader culture of Wall Street and firms like Goldman Sachs that worshipped values that were the opposite of what were handed down by our forefathers for generations.
02/11/2009
Trader Monthly shows these values in its content which glorified a culture of extravagant spending, and a sense of entitlement based on a pugnaciopus culture that felt that it delivered. Except that it was misallocating capital on a massive scale disrupting the delicate workings of the capitalist economy.
Grouped Articles
On Wall St., A Culture of Greed Won't Let Go
New York Times 07/15/2013
Wall Street Journal 07/23/2013
BusinessWeek 04/01/2010
Exit Shows Blankfein Still Rows Goldman
Wall Street Journal 10/22/2013
A Moot Effort to Burnish the Reputation of Goldman Sachs
New York Times 10/23/2013
Goldman Sachs, Buying Redemption
New York Times 10/26/2013
Brazil's repeated boom-bust cycles since 1973, and lost decades
08/28/2015
Brazil, Russia, Australia, Canada, are caught up in the commodities bust with dependence on commodities exports. Brazil faces a lost decade because in adddition to the sharp drop in commodities prices, it also has to tackle large debt and capital outflows, a credit card binge of households cutting into consumer spending, and problems with manufacturing from the period of overvalued currency. A serious long term problem as bottlenecks to growth come from a weak educational system and infrastructure that were not tackled in the boom years. The social safety net and the currency are supported by the foreign currency reserves fund of $397 billion, a lesson learned from the 1997 financial crisis.
Grouped Articles
How Brazil’s China-Driven Commodities Boom Went Bust
Wall Street Journal 08/28/2015
Gloom on Brazil Finances Deepens
Wall Street Journal 12/17/2015
Australia Finds Something Else to Export to China
Wall Street Journal 03/03/2016
Dilma Rousseff’s Former Supporters in Brazil Express Disillusionment
New York Times 04/16/2016
Fight to Impeach Brazil’s Leader Tears at Fabric of Daily Life
New York Times 04/15/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Book Review of "The Fourth Revolution" by Micklethwait and Woolridge of the Economist
05/30/2014
The authors describe the need to further reduce the size of the public sector and provide the example of Sweden which reduced the size of the state from 67% to 49% with good results. France has shown concern about a large public sector which reduces efficiency and growth. India is likely to shift away from the large public sector under the new Modi administration in 2014. Developing new alternatives would also create new energy and create new options to the state capitalism model of China and Russia for developing countries. The crony capitalism in Brazil with state supported development has serious limitations as shown by sharply slowing growth and other problems.
Grouped Articles
Book Review: 'The Fourth Revolution' by John Micklethwait and Adrian Wooldridge
Wall Street Journal 05/30/2014
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Crony capitalism in Israel
04/15/2009
Grouped Articles
The Crony System That Makes Israelis Poorer
Wall Street Journal 05/04/2012
Uncertainty bedevils the best system
Unknown 04/15/2009
New York Times 03/16/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Reflections on Arthur Brooks and American Capitalism in 2014
04/15/2009
David Brooks points to the need for a capitalism that embraces the needs of the middle class in the U.S., Europe and emerging markets, away from the winner take all mentality - for work that leads to a sense of achievement, more opportunities, improvement in incomes and mobility.
Grouped Articles
New York Times 02/20/2014
Uncertainty bedevils the best system
Unknown 04/15/2009
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Sanders, Corbyn and the coming debate inside the Democratic Party - The Washington Post
Washington Post 09/13/2015
Wall Street Journal 09/17/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Jerry Muller on Capitalism and Inequality- preserving economic dynamism and maintaining protections for the middle class and the poor
04/15/2009
Muller points out that the family really matters and belonging to particular social, immigrant, ethnic and religious groups also makes a difference. Muller says having a clear eyed view shows protections are necessary for capitalism to work, yet also points out that in advanced capitalist societies muc of the framework for the protections such as unemployment insurance, Medicare, Medicaid, Social Security, Earned Income Credit, Affordable Care Act, are already in place. Individual societies and countries have to come up with their own solutions for economic protections. At the same time economic dynamism is critical part of vibrant democracy and capitalism. This requires human capital to be deployed in the best way possible. For individual countries this means increasing and preserving competitiveness in the global marketplace.
Grouped Articles
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
New York Times 09/12/2013
Americaâs Sinking Middle Class
New York Times 09/18/2013
Germany's Social Democrats Agree to Coalition Talks With Merkel
Wall Street Journal 10/21/2013
Jim Vandehei of Politico on the difference between destructive disruption and constructive disruption that brings new ideas and leaves a better world
04/26/2016
Vandehei says most of the ideas used in the campaigns of Trump and Sanders are not new, and the effects of the 2008 financial crisis have been covered widely in the press. That the elites have ignored it, and Tump and Sanders have capitalized on this, does not mean America cannot come up with its own constructive ideas to solve existing problems than take risks going into the unknown. Both Trump and Sanders have drawn attention to the problems of poverty, working class Americans, trade, and wages, but lack constructive programs that would work. A 45% tariff on imports would not work, and poverty is bettter tackled with a growing global economy and private sector initiative. He says he is from two small towns, Oshkosh, Wisconsin, and Lincoln, Maine, and knows what it is like for ordinary Americans struggling to make it.
Grouped Articles
Bring on a Third-Party Candidate
Wall Street Journal 04/26/2016
What Donald Trump Learned From Joseph McCarthy’s Right-Hand Man
The New York Times 06/20/2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Trump’s Empire: a Maze of Debts and Opaque Ties
The New York Times 08/20/2016
New Clinton, Trump budget numbers
POLITICO 09/22/2016
Donald Trump’s Tax Plan Would Boost Economy in Short Run but Not Long Term, Analysis Finds
WSJ 10/17/2016
Jerry Muller on making Capitalism work in western and eastern societies
04/15/2009
Grouped Articles
Unknown 03/12/2013
Uncertainty bedevils the best system
Unknown 04/15/2009
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
The loss of jobs under private equity
11/26/2008
Simmons and Mervyns are examples of loss of jobs and overloading companies with debt by private equity ending in bankruptcy. The debt crisis of 2008 made carrying large debt loads of the kind used by private equity dangerous because of the difficulty of finding financing. According to Standard and Poors/LCD Group private equity loaded $741 billion onto firms balance sheets between 2005 and 2008. Debt soared with the low interest rates and high liquidity environment preceding the crisis. In the 2008 financial crisis many of these companies with high debt loads went bankrupt- 66 of 105 companies that went into bankruptcy that year were under private equity firms according to Capital IQ. Private Equity can also operate in the manner of venture capital as in the Staples investment by Bain Capital. Jobs created in retail firms in this case are lower wage less skilled jobs.
Grouped Articles
How Private Equity Strangled Mervyns
BusinessWeek 11/26/2008
Mitt Romney and our overdue debate about capitalism - The Washington Post
Washington Post 01/12/2012
The Benefits of Bain Capitalism
New York Times 01/14/2012
Appetite for (Creative?) Destruction
Wall Street Journal 01/13/2012
One Way to Look at Private Equity
New York Times 01/17/2012
Romney Unveils Own Income-Tax Rate: 15%
Wall Street Journal 01/18/2012
Sheikh Abdul Wahhab, Wahhabism and Diriyah in Riyadh province, Saudi Arabia
05/31/2015
King Salman promoted development in Diriyah, the capital of the Saudi state to which it traces its origins, when he was governor of Riyadh province. The first Saudi state had its origins here in the 18th century, till its overthrow by the Ottomans. Sheikh Wahhab promoted a form of Islam which removed worship of saints and saint relics, to return to the Islam of the early days. Committment to Sheikh Wahhab and his philosophy helped the Saud family unite the Arabian peninsula. With the help of U.S. president FDR the new Saudi state was established in 1932 binging Ibn Saud, the father of King Salman to the monarchy. King Salman visits Diriyah on weekends and plans to build a museum complex and park in Diriyah dedicated to Sheikh Wahhab.
Grouped Articles
Saudis Turn Birthplace of Wahhabism Ideology Into Tourist Spot
New York Times 05/31/2015
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Saudis and Extremism: ‘Both the Arsonists and the Firefighters’
The New York Times 08/25/2016
Opinion: Saudi Arabia – progress, or megalomania? | Middle East | DW | 26.10.2017
DW.COM 10/26/2017
U.S. Fed governor Daniel Tarullo and new capital reserve requirements for U.S. banks in 2011-2015
10/24/2009
Grouped Articles
Wall Street Journal 05/01/2013
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Banks Ordered to Add Capital to Limit Risks
New York Times 04/08/2014
Regulator Suggests End to Bank's Self-grading
New York Times 05/08/2014
Fed’s New Bank-Regulation Tune Should Be One Direction
Wall Street Journal 12/02/2014
Capitalism, values and moral sentiments in designing a decent society
04/15/2009
"He is certainly not a good citizen who does not wish to promote, by every means in his power, the welfare of the whole society of his fellow-citizens." ADAM SMITH, Theory of Moral Sentiments "What institution of government could tend so much to promote the happiness of mankind as the general prevalence of wisdom and virtue? All government is but an imperfect remedy for the deficiency of these..." ADAM SMITH, The Theory of Moral Sentiments
Grouped Articles
Uncertainty bedevils the best system
Unknown 04/15/2009
In Fiery Speeches, Francis Excoriates Global Capitalism
New York Times 07/11/2015
Notable & Quotable: Adam Smith
Wall Street Journal 12/08/2015
Turning the Dialogue From Wealth to Values
New York Times 11/12/2011
New York Times 11/12/2011
New York Times 11/19/2011
Longest Days of the 2008 financial crisis (1)- October 13, 2008, 3.00 pm at the Treasury Building, Washingon D.C., a meeting for $125 billion capital injection into U.S. banks
10/15/2008
Treasury Secretary Paulson meets the heads of major U.S. banks at the Treasury Building. Only Paulson, Fed chairman Bernanke, Sheila Bair of FDIC, and Geithner of the New York Fed on the government side knows why they are meeting. Termsheets are handed out and returned signed.
Grouped Articles
At Moment of Truth, U.S. Forced Big Bankers to Blink
Wall Street Journal 10/15/2008
Anatomy of the Morgan Stanley Panic
Wall Street Journal 11/24/2008
Obama, Geithner Get Low Grades From Economists
Wall Street Journal 03/11/2009
Dream Mortgage Bailout Has a Darker Side
Wall Street Journal 04/03/2009
Wall Street Journal 04/06/2009
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Zeit Online Von Mark Schieritz's 3 Part series on Capitalism, Globalization, and discontent in global society
08/17/2016
The appeal of populist politicians using racist slogans and divisive rhetoric to appeal to those left behind by the capitalism, tech changes, trade and globalization of the last 2 decades, has created a new danger to the prosperity and peace achieved in the 4 decades after World War II. Schieritz shows how this needs to be addressed and the changes already taking place.
Grouped Articles
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07/29/2016
Big government is the new West Coast craze
Washington Post 11/06/2016
Populism, Far From Turned Back, May Be Just Getting Started
The New York Times 04/25/2017
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