The Exchange: Duflo and Banerjee 12 Nov 2019 This year’s Nobel economists showed that people often do the opposite of what theory predicts – whether they’re in a Kenyan schoolroom or a dying U.S. factory town. Here, two of the winning trio explain their method, and what happens when researchers leave intuition at the door.
Bolivia’s president snared by his own success 11 Nov 2019 Evo Morales stepped aside after weeks of protests over vote-rigging claims. Growing the country’s middle class helped him score three terms. But with democratic norms under threat, that same precarious class may have stopped him from getting a fourth.
Review: #MeToo comes out of the shadows 25 Oct 2019 The casting couch is a Hollywood trope, but it's real for many women. Yet exposing their mistreatment is daunting, and not just because it requires courage. Two books about the fall of media mogul Harvey Weinstein show the insidious role of legal agreements that muzzle victims.
Macri’s likely defeat a warning to LatAm reformers 25 Oct 2019 Argentines are expected to oust would-be reformer Mauricio Macri in Sunday’s elections, which follow weeks of violent protests across the region. In the post-commodity-boom era, Latin American reformers need to find a new identity that is neither leftist nor too austere.
India’s pricey truffles leave a bitter aftertaste 25 Oct 2019 Mumbai-listed ITC has unveiled the world’s costliest chocolate. It’s a bonbon-shaped reminder of India’s growing millionaire club. Overall wealth is increasing more slowly, though. With pocketbook protests heating up globally, it’s a bad time for that chasm to widen further.
Tech riches bypass San Francisco African-Americans 22 Oct 2019 The city is bursting with billionaires and boasts a jobless rate of just 2.3%. Yet black residents’ median annual incomes are only a quarter of what whites take home. Many factors are to blame, but Silicon Valley could do much more to reduce the inequities.
The clock is ticking on TikTok’s U.S. business 21 Oct 2019 A senator wants parents to delete the popular video app owned by China’s ByteDance. Even Facebook is taking potshots. TikTok, meanwhile, is building lobbying strength in Washington. But the mood in D.C. is ripe for curbs on any Chinese upstart with global ambitions.
Canada’s election could bring climate-change chill 18 Oct 2019 Even if Justin Trudeau’s Liberal Party loses to Conservatives next week, his national carbon tax looks safe. Yet the rate is too low, and unlikely to get tougher. Having a big, pollution-happy neighbor doesn’t help. Canada’s green wave may be reaching its political limits.
Opioid crisis pile-on reaches legal critical mass 17 Oct 2019 The imminent start of a key trial has precipitated $50 billion of combined settlement offers from U.S. companies. Drugmakers and distributors prefer one-off payouts to open-ended uncertainty, while localities want cash as soon as possible. That’s a recipe for deals.
Facebook would be wise to just give up on politics 15 Oct 2019 Over the past 90 days, political ads brought in less than 1% of forecast Q3 sales. But after presidential hopeful Elizabeth Warren showed up Facebook’s patchy vetting, they continue to garner way more in the way of negative vibes. Mark Zuckerberg can afford to exit the category.
Google could buff its browser-privacy blemishes 11 Oct 2019 Chrome’s owner lags both Mozilla’s Firefox and Apple’s Safari in trying to make the web less creepy. The prospect of losing revenue may explain Google’s resistance to blocking certain ad trackers. If more users abandon the web’s most popular browser, Google is likely to act.
Tech firms show usefulness in the face of tragedy 10 Oct 2019 Twitter, Facebook and others worked together to remove footage of a gunman who attacked a German synagogue. Social media is a potential channel for extremism, and Silicon Valley is making amends for past slow responses. This at least helps their claim to be part of the solution.
Facebook gives Match’s parent a reason to split 20 Sep 2019 Barry Diller’s IAC may separate its holdings in the $22 bln dating site to uncork value. It would give some agility to a company already experimenting with new ideas like video and gaming. Mark Zuckerberg moving on Match’s turf provides another good excuse to make the move.
Climate strikes give governments cover to act 20 Sep 2019 Millions are downing textbooks and tools to demand more action against global warming. People power fueled a mass aversion to plastic. And many ideas and financing vehicles to enable the climate fight already exist. The worldwide protests allow politicians to take a tougher line.
U.S. antitrust effort cries out for a monopoly 19 Sep 2019 The U.S. Department of Justice and FTC admit to squabbling over turf as they target the likes of Amazon and Facebook. Both agencies also could use more money and people to take on deep-pocketed tech giants. Pooling resources and power through a merger is a natural solution.
Data turns from asset to M&A liability 17 Sep 2019 Minority stakes in U.S. firms with sensitive information on Americans may soon be subject to national security reviews – a sensible acknowledgement that data has value. There’s a cost though. Casting the net that wide will put a chill on inbound deals, and not just from China.
Some startups truly make the world a better place 16 Sep 2019 Silicon Valley likes the idea of doing good, but it’s undermined by the power and missteps of firms like Facebook. New ventures aim to help people directly, connecting students at non-elite colleges to job leads or helping teachers buy homes. The trick will be making money, too.
U.S. unions are in need of reinvention 30 Aug 2019 Labor Day originally celebrated full-time and fairly paid employment. The unions which helped win such jobs have declined, in part because the people doing them are now mostly comfortable. Organising workers who are left behind is harder, but would be good for the U.S. economy.
Uber labor bill risks straying from righteous road 29 Aug 2019 The ride-hailing giant’s home state of California wants gig-economy firms to give workers paid vacation and sick time, following similar cases in Europe. Yet some old-school industries may get carve-outs. That would be a pity. It’s a chance to rethink protections for all earners.
Climate-denying magnate stoked potent opposition 23 Aug 2019 Billionaire David Koch’s funding for anti-global warming causes helped delay a response to a mounting crisis. He died as record fires beset the Amazon. But governments, companies and investors have already consigned his belief that free markets cure all ills to the scrap heap.