ECONOMY

Cryptocurrencies replacing traditional fiat currencies; wealth inequality; the economic impact of automation and the next industrial revolution—this page covers the trends and news that will influence the economies of the future.

India will abolish all single-use plastic by 2022, vows Narendra Modi

India’s Prime Minister has promised to eliminate all single-use plastic in the country by 2022, the most ambitious pledge yet to tackling the global problem. FULL ARTICLE

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https://theconversation.com/davos-why-measures-of-economic-progress-must-consider-the-quality-of-work-on-offer-110525
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The Conversation
An obsession with GDP growth fails to account for some of society's most pressing problems.
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https://www.reuters.com/article/us-china-cryptocurrency/china-says-it-wants-to-eliminate-bitcoin-mining-idUSKCN1RL0C4
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Reuters
China's state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector.
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https://worldview.stratfor.com/article/austerity-will-force-saudi-arabia-revise-its-military-priorities
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Stratfor
Facing severe budgetary strain due to COVID-19 and low oil prices, Riyadh will likely reduce its arms purchases, while avoiding spending cuts that could impede its internal security or the development of its defense sector.
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https://www.theguardian.com/environment/climate-consensus-97-per-cent/2018/oct/26/canada-passed-a-carbon-tax-that-will-give-most-canadians-more-money
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The Guardian
Dana Nuccitelli: By rebating the revenue to households, disposable income rises, which can be a boon for the Canadian economy
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https://www.digitaltrends.com/mobile/what-is-nfc/
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Digital Trends
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https://www.vice.com/en/article/xwge9a/math-suggests-inequality-can-be-fixed-with-wealth-redistribution-not-tax-cuts
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VICE
A new report from the Complex Systems Institute justifies wealth redistribution with mathematics.
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https://scholarlykitchen.sspnet.org/2016/03/22/the-downside-of-scale-for-journal-publishers-quality-control-and-filtration/
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Scholarly Kitchen
Scale can be achieved by broadly outsourcing the editorial process. Does this lead to a loss in quality control, and is this acceptable?
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https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/the-economics-of-artificial-intelligence
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McKinsey
Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.
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https://time.com/longform/south-africa-unequal-country/
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Time
It's been 25 years since Nelson Mandela became South Africa's president, but racial divisions still persist through economic inequality.
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https://singularityhub.com/2017/07/07/ray-kurzweil-what-is-the-future-of-capitalism/
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Singularity Hub
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https://www.wsj.com/articles/millennials-covid-financial-crisis-fall-behind-jobless-11596811470
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The Wall Street Journal
The economic fallout of the Covid pandemic has been harder on millennials, who are already indebted and a step behind on the career ladder from the last financial crisis. This second pummeling could keep them from accruing the wealth of older generations.
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https://www.thebalance.com/top-economic-predictions-for-the-next-10-years-3305699
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The Balance
Here's how the COVID-19 pandemic, extreme weather, rising health care costs, and other trends may affect the economy over the next several years.
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https://www.technologyrecord.com/Article/microsoft-invests-15-billion-in-italys-digital-transformation-107780
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Technology Record
Microsoft will invest $1.5 billion in Italy’s digital transformation as part of a five-year plan that will include the country’s first cloud data...
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https://www.vox.com/science-and-health/2018/9/4/17759590/happiness-fantasy-capitalism-culture-carl-cederstrom
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Vox
Swedish researcher Carl Cederström on how corporations redefined happiness and turned hippies into Reagan voters.
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https://www.modernretail.co/platforms/an-experience-gap-brands-need-performance-marketing-experts-but-struggle-to-find-them/
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Modern Retail
More businesses are forgoing CMOs and looking toward more digitally savvy talent to lead marketing. The problem is: It's unclear if there's enough talent to meet the growing need.
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https://www.independent.co.uk/news/business/news/fifty-biggest-us-companies-stashing-1-3trn-offshore-a6983256.html
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Independent
Coca-Cola, Walt Disney, Alphabet (Google) and Goldman Sachs all implicated in Oxfam report
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https://issues.org/the-rise-of-the-platform-economy/
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Issues
The application of big data, new algorithms, and cloud computing will change the nature of work and the structure of the economy.
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https://www.reuters.com/article/us-health-coronavirus-germany-pharmaceut-idUSKBN2101BH
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Reuters
German Economy Minister Peter Altmaier said he wanted to support pharmaceuticals companies that are dependent for key reagents on imports from Asia to rebuild their production sites in Europe, Der Spiegel magazine reported on Friday.
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https://www.forbes.com/sites/randalllane/2019/3/4/reimagining-capitalism-how-the-greatest-system-ever-conceivedand-its-billionairesneed-to-change/
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Forbes
Billionaires have become this year's punching bag, as too many folks see a system stacked against them. Here's our blueprint to make capitalism more authentic, accessible and accountable.
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https://www.businessinsider.com/uk-tax-2-per-cent-facebook-google-uk-revenue-2018-10
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Business Insider
The UK said it would introduce a digital services tax that would drastically increase big tech firms' taxes.
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https://wtfeconomy.com/networks-and-the-nature-of-the-firm-28790b6afdcc
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Medium
One of the themes we’re exploring at the Next:Economy summit is the way that networks trump traditional forms of corporate organization, and how they are changing traditional ways of managing that…