7 days 30 days All time Recent Popular
March, 2019:

"The fourth industrial revolution - it's a fusion of the physical, the digital & the biological world. It's changing not only what we are doing, it's changing who we are."

- Klaus Schwab, founder of World Economic Forum

#GreatReset

Schwab: "The speed is mind boggling. What I'm particularly concerned about, is how little the world is prepared."

Satya Nadella, #Mircosoft: "It's really the notion of digital technology pervasively impacting every walk of life & every [] industry, in all parts of the globe."


"A Cloud for Global Good"
"Tech for Good"
"Responsible AI"

Holistic linguistics. Marketing terms. Branding content.

Lies packaged as beautiful illusions:

https://t.co/D2MV9o9Aws


"Harnessing this revolution requires the involvements of all #stakeholders. From #public & private sectors, to #academia & civil society."

March 2019: 4 centers: US, India, Japan, China. Present: affiliate centers (currently 9), to form a global network, will roll out at scale.


Sept 24, 2019: Aker group & WEF announced establishment of the Centre for the Fourth Industrial Revolution #Norway (#C4IRNorway). The Centre officially opened Jan. 1, 2020.

One area of focus will be #ocean #mining, #deepseamining.

Website:
On Jan 6, 2021, the always stellar Mr @deepakshenoy tweeted, this:

https://t.co/fa3GX9VnW0

Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)


On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)

What do I mean, "fiddle with the exchange rate"?

In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"

RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)

First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.

Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)

The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
$600/wk Unemployment Insurance cannot deliver the benefits of a $600/wk Job Guarantee. From the outset, I should say JG is not a replacement for UI, no matter what you may have heard. Iā€™ll get to this later, but read this long šŸ§¶ w/ that in mind.


Automatic stabilization: Both $600/wk UI and JG will provide counter cyclical spending. But UI will be weaker. Counter-cyclical stabilization is not just about the absence of income. It is also about the transmission and structure of economy

Firms don't like to hire the unemployed. Mass and long-term unemployment make the problem worse. JG would recover labor markets much faster than a UI of the same amount, both b/c of the higher direct, induced & tertiary employment effects & b/c of private firm hiring preferences.

JG stabilizes spending patterns better. Uncertain job prospects may mean more cautious spending from the unemployed compared to those w/ guaranteed jobs.
UI is temporary, which makes matters worse. Even if it were permanent, it still won't resolve the problem of job scarcity.

Nations who once achieved tight full employment through active labor market policies demonstrate that unemployment does NOT fluctuate the same way it does w/o them. Direct employment, ELR type policies diminish drastically/even eliminate these amplitudes (eg postwar Japan/Sweden)