The Institutions Americans No Longer Believe In
A major business leader is bullish about the American economy in the short term, but he has big concerns about the future of the country.
Jamie Dimon, the C.E.O. of the investment banking behemoth J. P. Morgan Chase, has issued a long letter to stockholders that has gotten considerable attention outside the business world.
He is extremely confident that the post-COVID economy will grow dramatically. How could it not, what “with excess savings, new stimulus savings, huge deficit spending, more QE [quantitative easing], a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic.” He thinks the good times will last into 2023. But he warns against letting the coming success blind us to our nation’s underlying problems. “”Unfortunately, the tragedies of this past year are only the tip of the iceberg — they merely expose enormous failures that have existed for decades and have been deeply damaging to America.”’
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This crisis is different’: the dramatic rebound in the global economy
From an economic point of view, it is almost as if the last year was just a bad dream.
As recently as October, the IMF was warning that coronavirus will cause “lasting damage” to living standards across the world with any recovery likely to be “long, uneven and uncertain”.
Yet the forecast it released this week is very different. By 2024, the IMF now believes, the US economy is likely to be stronger than it had predicted before the pandemic. For most advanced economies, it says, there will be only limited scars from the crisis.
The Future of Ecommerce: 5 Trends Sellers Need to Know
This year, the rules of e-commerce have effectively been rewritten. In an increasingly touchless society, our lives have become digitised, changing how we engage, interact, and view day-to-day life. Now, new online buying behaviours have emerged, and millions of consumers that previously relied on brick-and-mortar sales are shopping online to meet everyday needs.
But the rise of e-commerce hasn’t been without shortcomings. At the height of the pandemic in May, sellers, welcoming millions of new consumers, were faced with supply chain disruption, shock shortages, and business loss. Many turned to international options to mitigate issues, and cross-border sales saw a staggering 21 per cent increase in year-on-year sales in June.
Beyond Pandemic’s Upheaval, a Racial Wealth Gap Endures
Billions in aid has been dispensed, and the social safety net has been reinforced. Will there be more ambitious steps to address longtime inequities?
Not since Lyndon Baines Johnson’s momentous civil rights and anti-poverty legislation has an American president so pointedly put racial and economic equity at the center of his agenda.
President Biden’s multitrillion-dollar initiatives to rebuild infrastructure in neglected and segregated neighborhoods, increase wages for health care workers, expand the safety net and make pre-K and college more accessible are all shot through with attention to the particular economic disadvantages that face racial minorities. So were his sweeping pandemic relief bill and Inauguration Day executive orders.
6 ways data sharing can shape a better future
The COVID-19 pandemic surfaced the shortcomings of the world’s collective approach to data. Inability – and sometimes unwillingness – to share and use data to combat COVID-19 or to protect against predatory uses of data have negatively impacted society. A lack of trust combined with asymmetric economic interests are slowing progress.
The importance of finding solutions to improve outcomes in times of crisis is undeniable, but enormous opportunities also exist across a myriad of ordinary use cases and for normal day-to-day life outcomes.
Faces of Unemployment: Waiting and appealing
Toni Matis of West Bend has appeared on TMJ4 News before. She has been fighting to get unemployment benefits for nearly a year.
To get by, she rationed her medication. Today, she is on the verge of having her car repossessed. And says she would have lost her housing without the help of a sympathetic landlord. Her hearing was held one year to the day since she first started interacting with the unemployment system. After a year of fighting, an administrative law judge has ruled in her favor.
The global economy’s uneven recovery
The chances for a swift, uniform rebound from the COVID-19 crisis have dimmed, and the world economy now faces sharply divergent growth prospects. Although the latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) offers some grounds for optimism, it also raises renewed concerns.
Vaccination euphoria has been tempered by slow vaccine rollouts in most countries, while fresh waves of COVID-19 infections are threatening many economies’ growth trajectories.
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‘Sacrifice zones’: How people of color are targets of environmental racism
The Black Lives Matter movement and the COVID-19 pandemic have highlighted how systemic racism disproportionately places danger and harm on low-income and minority populations.
One harsh reality of this systemic racism is the existence of “sacrifice zones,” which are communities located near pollution hot spots that have been permanently impaired by intensive and concentrated industrial activity, such as factories, chemical plants, power plants, oil and gas refineries, landfills and factory farms.
Coronavirus, Capitalism and Eco-communitarianism
In this article, the author takes stock of the capitalist response during the pandemic to the educational and health challenge in contrast to the eco-communitarian response.
Around the world, and especially in Latin America, the coronavirus pandemic revealed a major fact of capitalist society: businesspersons and governments have prioritized the slogan “the economy cannot stop”, to the detriment of people’s health. This led to the fact that by not taking the almost total lockdown of economic activities demanded by various medical and scientific institutions, such prioritization contributed to the progressive worsening of the pandemic.
What happens when women run the economy? We’re about to find out
Women now hold many of jobs controlling the world’s largest economy – and they’re trying to fix it.
Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo and trade czar Katherine Tai hold top jobs in U.S. President Joe Biden administration and many of his economic advisers also are women, as are nearly 48% of his confirmed cabinet-level officials.