Rachel Mercy

Rachel Mercy

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Rajat

Rajat

The Fading American Dream "Children's prospects of achieving the "American Dream" of earning more than their parents have fallen from 90% to 50% over the past half century. This decline has occurred throughout the parental income distribution, for children from both low and high income families"
-the largest declines (are) for families in the middle class
-Absolute mobility fell in all 50 states, although the rate of decline varied, with the largest declines concentrated in states in the industrial Midwest, such as Michigan and Illinois.
-Reasons why this may have happened: lower Gross Domestic Product (GDP) growth rates and greater inequality in the distribution of growth.We find that most of the decline in absolute mobility is driven by the more unequal distribution of economic growth rather than the slowdown in aggregate
growth rates.

Source Stanford study by Raj Chetty and others.

http://www.equality-of-opportunity.org/assets/documents/abs_mobility_summary.pdf

Rajat

Rajat

Google, Apple Are About to Face India's Security Demands

India's relationship with the global tech industry has become increasingly fraught. This year alone, the government has banned Facebook's free web service and declined to exempt Apple from local sourcing rules and open its own stores. Now India could force companies to use technology cooked up in a government-funded lab.

"The initiative is part of a national biometric identity program called Aadhaar (Hindi for foundation). Millions of Indians use fingerprint and iris-scan authentication to access a range of public and private services that now includes banking.
India’s biometric identity program is something of a path breaker. While the Federal Bureau of Investigation and U.S. VISIT visa program use similar technology to respectively track criminals and foreign visitors, no other country has taken the concept as far as India.
Designed in part to help thwart criminals who siphon off billions of dollars in welfare payments each year, Aadhaar helps authenticate millions of poor citizens so the government can send money in lieu of food, fuel and fertilizer subsidies, as well as pension and guaranteed work payments directly to their bank accounts electronically.
Aadhaar is the world’s largest such program; as of April this year more than one billion people had signed up, or about 83 percent of the population."

Ted Tyler

Ted Tyler

GDP Is a Wildly Flawed Measure for the Digital Age

Germany, Switzerland, and Japan are now in negative interest rate territory. So are Denmark and Sweden. And U.S. treasuries have hit all-time lows. We've also witnesses the populist reactions embodied in the Brexit vote, and at the Republican and Democratic National Conventions in the United States.

Major contributor to muted GDP growth is.." is the deflationary effect of technology, which our measurement systems fail to account for. Mismeasuring our prosperity leads to poor decision making and foments populist upset. Will the Republican and Democratic national conventions perpetuate the wrong story about our reality?"Will the potential leader of our country use the wrong data – the data that is based on old and outdated science – to tell a misleading story to drive Jingoism, Brexits, and further class, religion, and nationalistic movements?
- The currently defined GDP ..." struggles to account for today’s intangible assets—services, insights, and networks. "...because technology shrinks the goods we purchase, their required inputs, the time it takes to make them, and the place and space required to deliver them."

-"But when you take a closer look, a customer surplus is emerging. Everyone carries a mobile phone with access to real-time banking, retail, music, and global communications in their pocket. Access to education, even free online options, is growing with announcements that Ivy League colleges are putting some courses online and offering them for free."
-"Many new jobs are arriving to replace the old. In addition, research is emerging that shows that the work we do today is more rewarding, more flexible, and safer than the past. So maybe the problem is that the world is stuck in old ways of measuring and reporting growth based on making and selling things (i.e., physical capital), rather than today’s growth drivers of developing and creating human, intellectual, and network capital."

Harvard Business Review.

Rajat

Rajat

International Home Sales Dollar Volume Retracts in U.S., Chinese Lead Purchases

WASHINGTON (July 6, 2016) - Waning economic growth in many countries and higher home prices further enhanced by a strengthening U.S. dollar resulted in a slight decline in international sales dollar volume of U.S. property over the past year and a significant retreat in buying from non-resident foreigners.

Buyers from China, India and others try to buy a future for their children in top US school districts.

Rajat

Rajat

Machine money and people money

Register for the Next:Economy Summit, Oct. 10-11 in San Francisco. This will be the definitive forum on the shape of the next economy. Be part of the discussion and understand how the technological revolution will shape the future of work and business.

An absolute must read. Tim 'O' Rielly beautifully explores the future of money, peoples, problem solving and creativity intertwined with employment and job creation. He explores the concept of universal basic income.

Beautiful concepts like machine money, human money and creativity money are explored.

“machine money.” In a profound way, its value inflates not as a currency normally inflates, but because the lower costs provided by machine productivity constantly increase its purchasing power...therefore the cost of goods and services produced by machines will tend to go to zero.... Think of PSE&G, Banks and other diminishing employers.

...Human Money encompasses two very different classes of goods and services: those that involve a true human touch — parenting, teaching, caregiving of all kinds — and those that involve creativity. Think of Etsy, Kickstarter, GoFundMe, Lyft, Uber, Upwork.

Perhaps “Human Money” needs to be further subdivided into “Caring Money” and “Creativity Money.”..... The cost of human money or creative money will always be measured in the hours it takes to complete the job and the uniqueness of the product or the service or even the experience...Think of Broadway shows or unique experiential holidays.

Rajat

Rajat Vidushi Sharma, Emma Zahren-Newman

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Emma Zahren-Newman

Emma Zahren-Newman Incredibly interesting!

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Sarah Kimball

Sarah Kimball

What Is Long-Form Content and Why Does It Work?

Ask two content marketers about long-form content and you'll likely get two completely different responses. The first might say that long-form content is a gamble, given audiences' supposedly miniscule attention spans. The other might say that producing longer articles is an excellent way to engage with readers and offer them genuine value and a rewarding experience.

Keep fighting the good fight, HOBMOB team! I'm so happy to be a part of this community with a passion for high-quality content and discussion! I know I was out a lot this past semester, but now it's summer!!!

Jade Mills

Jade Mills You're absolutely right, Sarah! Go HOBMOB!

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Rajat

Rajat Thanks Sarah, sometimes you wonder. For example, there are more and more people who write and publish theses days since it is so much easier. But have the readers kept pace? I don't know what the impact of the consumption media i.e mobile devices is on content consumption.

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