Washington Post (November 19)
“In 1798, British economist Thomas Malthus forecast that an increasing population would soon outstrip, disastrously, nature’s capacity to feed so many people…. And yet here we are: The world’s population has octupled since Malthus’s day, more than doubled since 1968, and living standards around the world have vastly, though unevenly, improved during that time.” It is worth celebrating November 15, the day “Planet Earth welcomed its eight-billionth living inhabitant.”
Tags: 1798, Celebrating, Earth, Economist, Forecast, Inhabitant, Living standards, Malthus, Nature’s capacity, Octupled, Outstrip, Population
Reuters (February 8)
“With his ratings down and state funds needed to hedge against new Western sanctions and raise living standards, Russian President Vladimir Putin cannot afford to get sucked into a costly nuclear arms race with the United States.” The tell could be seen after Donald Trump pulled out of the Intermediate-range Nuclear Forces Treaty (INF). Putin indicated Russia would do the same thing, but he “did not up the ante.”
The Independent (April 28)
“There can be no doubt that the UK’s economic situation is much more likely to deteriorate than improve in the next few years.” Higher taxes and/or lower benefits will be essential to strengthening the Treasury. “All of this adds to stagnant or declining living standards…. No wonder, then, that consumer confidence is likely to become weaker as the uncertainties crowd in.” But the biggest economic hurdle will be crimped investment. “Business does not want to invest in Britain unless they can be sure of a return on those funds after the UK loses its easy access to the single market.”
Tags: Benefits, Consumer confidence, Deteriorate, Investment. Brexit, Living standards, Single market, Taxes, Treasury, UK
Chicago Tribune (November 17)
Despite his “nasty campaign bluster,” elements of Donald Trump’s “economic plan could boost growth and standards of living here and nationwide. This is potentially good news for millions of jobs-starved Americans.” But the devil is in the details. “There are yuuuuge caveats. Trump has not been good on details, he’s a serial exaggerator, and he’s completely out to sea in his insistence that America has the option to unplug from global trade. He also pays little heed to the nation’s $20 trillion debt, the looming threat of Social Security insolvency and Medicare’s unsustainable cost trajectory.” Still, the country could benefit from having someone who’s a “business guy and dealmaker at heart” in the White House.
Tags: Bluster, Campaign, Caveats, Details, Economic plan, Exaggerator, Global trade, Growth, Jobs, Living standards, Medicare, Nasty, Social security, Trump
Wall Street Journal (August 23)
“Robots are coming. Don’t worry, be happy. It’s the path to growth and higher living standards.” Despite the gloom of some prognosticators, very few jobs can be entirely replaced by robots. Many, however, can be enhanced by robots, freeing humans up for higher level activities. “Workers are augmented, not replaced. Salesmen with Google Maps, realtors with 3-D home views, carpenters with laser tape measures. Doctors doing robot assisted minimally invasive surgery.”
Tags: Carpenters, Doctors, Gloom, Growth, Living standards, Prognosticators, Robots, Salesmen, Workers
Financial Times (August 31)
“The story of Abenomics is far from over–but the typical Japanese household could be forgiven for thinking that all the Bank of Japan had achieved, in pushing down the currency and importing inflation, was another hit to household living standards. Japanese real wages have been falling for most of this year.”
Tags: Abenomics, BOJ, Currency, Household, Inflation, Japan, Living standards, Real wages
Financial Times (October 10)
“The world has just passed a historic milestone: China has overtaken the U.S. as the world’s largest oil importer…. The implications for international relations and global security are profound.” Cinching the global “gas guzzler” title has as much to do with the dramatic increase in domestic U.S. production through fracking as rising living standards in China. While China is now the biggest oil importer, the U.S. remains the biggest consumer. Per capita, the U.S. consumes over seven times more oil than China or 21.5 barrels annually per person.
Tags: China, Consumer, Fracking, Global security, International relations, Living standards, Milestone, Oil imports, U.S.
