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Cross-Border Data Flows, the Internet and What it Means for U.S. and EU Trade and Investment

October 23, 2014 Comments off

Cross-Border Data Flows, the Internet and What it Means for U.S. and EU Trade and Investment
Source: Brookings Institution

The most globally significant bilateral trade and investment relationship is between the U.S. and the European Union. An increasing amount of this economic relationship is underpinned by cross-border flows of data.

Whether the U.S. and the EU are able to take full advantage of the opportunities for international trade and investment presented by their increasingly online and digital populations will affect transatlantic economic relations. As the world’s two largest economies, the U.S. and EU decisions on support for cross-border data flows will also have global implications.

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What Would Happen If Health Care in the U.S. Improved?

October 23, 2014 Comments off

What Would Happen If Health Care in the U.S. Improved?
Source: Commonwealth Fund

The United States health care system is the most expensive in the world, but the Commonwealth Fund report Mirror, Mirror on the Wall, 2014 Update: How the U.S. Health Care System Compares Internationally shows the U.S. underperforms relative to 11 other industrialized countries on most dimensions of performance. Use this interactive to see what would happen if the U.S. were to raise its health system performance to the levels achieved elsewhere in the world.

UK — State of the Nation 2014 Report

October 23, 2014 Comments off

State of the Nation 2014 Report
Source: Social Mobility and Child Poverty Commission, Cabinet Office, Department for Education and Department for Work and Pensions

This is the Commission’s second annual State of the Nation report to be presented to Parliament. The Commission was created by the UK Government in 2012 as an independent and statutory body to monitor and report on what is happening to child poverty and social mobility in our country.

The report assesses what the UK government, the Scottish government and the Welsh government are doing (the Commission’s remit does not cover the Northern Ireland government), what progress is being made, and what is likely to happen in future. The report also examines the role of employers and professions, councils and colleges, schools and universities, parents and charities. The report makes a number of recommendations for action.

This is the last State of the Nation report prior to the 2015 UK General Election. As such it presents a verdict on the past and provides a window into the future. The central conclusion is that the next government will have to adopt radical new approaches if poverty is to be beaten, mobility improved and if Britain is to avoid becoming a permanently divided society. We define that as the 2020 challenge.

Hong Kong: one country, two systems?

October 23, 2014 Comments off

Hong Kong: one country, two systems?
Source: European Parliamentary Research Service

The on-going heated debate about the introduction of universal suffrage for the election of Hong Kong’s Chief Executive has turned into widespread protests on the territory’s streets. Hopes that the public would be able to nominate candidates were dashed by China’s decision to allow only committee-based nomination of candidates in the 2017 election. The Occupy Central protests, widely known as the Umbrella Revolution, kicked off on 28 September. Agreement to talks, scheduled for 10 October, saw tensions lowered, but after those talks were cancelled by the authorities, organisers called for protesters to return to the streets. With numbers not reaching earlier heights, the authorities appear to have concluded that the protests’ momentum is going.

How Much (More) Should CEOs Make? A Universal Desire for More Equal Pay

October 22, 2014 Comments off

How Much (More) Should CEOs Make? A Universal Desire for More Equal Pay (PDF)
Source: Perspectives on Psychological Science (forthcoming)

Do people from different countries and different backgrounds have similar preferences for how much more the rich should earn than the poor? Using survey data from 40 countries (N = 55,238), we compare respondents’ estimates of the wages of people in different occupations – chief executive officers, cabinet ministers, and unskilled workers – to their ideals for what those wages should be. We show that ideal pay gaps between skilled and unskilled workers are significantly smaller than estimated pay gaps, and that there is consensus across countries, socioeconomic status, and political beliefs for ideal pay ratios. Moreover, data from 16 countries reveals that people dramatically underestimate actual pay inequality. In the United States – where underestimation was particularly pronounced – the actual pay ratio of CEOs to unskilled workers (354:1) far exceeded the estimated ratio (30:1) which in turn far exceeded the ideal ratio (7:1). In sum, respondents underestimate actual pay gaps, and their ideal pay gaps are even further from reality than those underestimates.

World Wealth Rises at Fastest Rate Ever Recorded

October 22, 2014 Comments off

World Wealth Rises at Fastest Rate Ever Recorded
Source: Credit Suisse

Although the global economic environment has remained challenging, Credit Suisse’s 2014 Global Wealth Report reveals that total wealth grew to a new record high during the past year. It rose by 20.1 trillion US dollars between mid-2013 and mid-2014, an increase of 8.3 percent, to reach 263 trillion US dollars – more than twice the amount of 117 trillion US dollars recorded for the year 2000.

With an 11.4 percent year-on-year increase, wealth creation was particularly strong in North America, where it now stands at 91 trillion US dollars, or 34.7 percent of total wealth. Europe made the second largest contribution, with wealth increasing 10.6 percent to 85.2 trillion US dollars. In both regions, capital markets were a key source of wealth growth: equity market capitalization grew by 22.6 percent in the United States, while Canada, France and Germany all recorded gains close to 30 percent.

+ Full Report (PDF)

Economic & Environmental Impact of Traffic Congestion in Europe & the US

October 22, 2014 Comments off

Economic & Environmental Impact of Traffic Congestion in Europe & the US
Source: Inrix

With people in Europe and the US currently wasting on average 111 hours annually in gridlock, the impact of traffic congestion on individual driver’s time is well understood. However, new research shows traffic congestion actually does much more than test our patience. It’s a significant drain on our wallets as well our economies.

A new report by INRIX in collaboration with one of the world’s leading economic think tanks, the Centre for Economics and Business Research (CEBR), quantifies the cost of traffic congestion on individual households and national economies in the U.S., U.K., France and Germany. This is the first study of its kind to forecast the projected increases in these costs in these countries and their most congested cities between 2013 and 2030. Driven by urbanization and increased GDP per capita over the next 17 years, a few of the key findings include:

  • The combined annual cost of gridlock to these countries is expected to soar to $293.1 billion by 2030, almost a 50% increase from 2013.
  • Over this period, the cumulative cost of congestion for these economies combined is estimated to be a staggering $4.4 trillion.
  • The overall economic impact is greatest in the U.S. where the estimated cumulative cost of traffic congestion by 2030 is $2.8 trillion – the same amount Americans collectively paid in U.S. taxes last year.
  • However the UK (at 66%) and London (at 71%) will see the greatest annual rise in the cost of congestion by 2030, mainly as a result of seeing the highest increase in urbanization
  • At the individual level, traffic congestion cost drivers $1,740 last year on average across the four countries. If unchecked, this number is expected to grow more than 60% to $2,902 annually by 2030.

Free registration required to download report.

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