With the release of economic data from China showing that the rate of growth of its gross domestic product decreased to 7.3 percent when compared to last year’s fourth quarter number, it is a good time to reflect on the basic direction of China’s reforms over the last 38 years.
The Chinese economic reform, literally called
Founded by Edward Said and Daniel Barenboim in 1999 as an experiment in coexistence, the West-Eastern Divan Orchestra is a unique enterprise. Since its inception, it has given about 176 public performances across a range of impressive venues such as Royal Albert Hall, Carnegie Hall, and the General Assembly Hall at the United Nations, among
To learn more about Rotary International and microcredit initiatives: Act Now
Nobel Peace Prize winner Muhammed Yunus (Banker to the Poor) once said that for each problem of society there is a social business to combat it. He also said that a social
The world we live in is full of situations where evidence is created to support policies. Of course, it should be the other way around. Policy should grow out of evidence. Take, for example, attempts to address poverty. There are those who support aid to developing nations. Others state that such aid will more likely
With the decline of confidence in big business and big government, a new opportunity may be appearing which spotlights the hope and trust of the people in small entities: small business, local government and local financial institutions.
Americans, increasingly alienated by national politics and the influence of big corporations, are looking for solutions and finding unique
“Now, what I want is, Facts. Teach these boys and girls nothing but Facts. Facts alone are wanted in life. Plant nothing else, and root out everything else.”
These are the words with which Charles Dickens began his 1854 novel, “Hard Times.” But the words might sound familiar to anyone who has followed our 21st-century debates
Throughout history, countless wars have been sparked around the globe. The causes of wars range from relatively small disagreements, to more provocative moves, such as an invasion of another country. While many wars end only after one side achieves absolute victory, still other wars end in a compromise long before a clear victor becomes apparent.
In
Trust in others and in our institutions is an essential part of maintaining a just and democratic society. However, according to recent research, trust in others and confidence in societal institutions are at their lowest point in over three decades.
Jean M. Twenge of San Diego State University and colleagues W. Keith
Tax revenues this year will surpass pre-great recession levels for the first time. But has the economy truly healed?
Recently, The Economist published an article entitled “A History of Finance in Five Crises.” The authors argued that financial institutions and fiscal policy evolved in spurts following economic hardship. Our current financial system is a result of
It is no secret that America’s workforce is aging. According to the Bureau of Labor Statistics’ 2013 figures, approximately one-half of those currently employed are over 40 years of age; approximately one-fifth are over 55. We have an urgent need to bring young people into the workforce to begin acquiring the experience and the specific
In 1857, Charles Dickens completed serial publication of his eleventh novel, Little Dorrit. Among other things, the novel includes a scathing indictment of a government whose main object is to prevent anything from getting done. This mission is embodied in the Circumlocution Office, a bureaucracy dedicated to “How Not To Do It.” Any individual wishing—scandalously!—to
In recent years, an increasing emphasis has been placed on the idea that executives of major companies make an incredible amount of money each year. In the U.S., it is not uncommon to see executives making over 100 times more per year than their entry-level employees, with some firms paying their top-level management over 1000
Inclusive development is gaining momentum on the global agenda, but is the international development sector actually listening to its own advice?
Inclusive development means ensuring that the benefits of economic growth and social progress reach a broad base, generating improvements in the lives of the most vulnerable. Whereas GDP growth was once the primary target of
In economics, individuals act based on the idea that the benefits of their actions will outweigh the costs. An individual will forgo one option for another and the benefits he or she could have received are called the opportunity costs.
A prime example of this can be seen in students’ decisions to pursue higher education.
Instead of
Business leaders and American citizens view the importance of a college degree very differently. Approximately 70 percent of Americans believe that having a bachelor’s degree remains essential for getting a good job. Unfortunately, business leaders are not so optimistic: only 33 percent believe that U.S. colleges provide graduating students with the skills their businesses need.
On April 18, 1949, bells and celebrations erupted in Ireland. Thirty-three years after the beginning of the Easter Rebellion, the Republic of Ireland Act came into force, severing the last constitutional link to England and the British monarchy. This was followed by the Ireland Act of 1949, in which Britain conceded its former role and
Well-informed citizens are important for the preservation of democracy. So much so, the Founding Fathers protected the press in the First Amendment. Since even before the foundation of the United States, people have been using the press, media, and journalism to inform and influence others. Journalism has seen many changes since then. One change involves
Over $2 billion was donated to the U.S. presidential candidates in the 2012 election. After the donations had come in and most of the money had been spent, nearly 60 percent of eligible voters in the United States turned out on Election Day to cast their ballots in the presidential race. Open elections are ways
Some might argue that greater convergence of international wages is essential for the achievement of a more just and balanced world economy. The perceived injustice of a system where 0.00000004% of the world’s population has as much wealth as the poorest 42% of the world’s people is a cause for alarm. True sustainability of both
Microfinance has proved its value in many countries as a major means of alleviating poverty. It has the potential to change people’s lives for the better, as innovation and creativity are found everywhere and people start companies based on their entrepreneurial leanings. Out of a world population of seven billion, almost 60 percent are poor
