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Finance and Economics

Central hub for discussion on Finance & economics

Vedansh Singh , highly opiniated Aug, 03 2016

We still have not overcome the effect of 2008 recession on our wages


Incomes from wages and capital were flat or fell for two-thirds of households in 25 advanced economies between 2005 and 2014—an explosive increase from less than 2 percent in the previous decade. While it’s broadly assumed that children will grow up to be better off than their parents, the reality is that a new generation of young people in advanced economies risks ending up poorer. In this episode of the McKinsey Podcast, McKinsey senior partner Richard Dobbs and McKinsey Global Institute (MGI) partner Anu Madgavkar talk with Peter Gumbel about the increase in the number of households that experienced flat or falling incomes in the past decade—and the implications for future growth and economic advancement.
Incomes from wages and capital were flat or fell for two-thirds of households in 25 advanced economies between 2005 and 2014—an explosive increase from less than 2 percent in the previous decade. While it’s broadly assumed that children will grow up to be better off than their parents, the reality is that a new generation of young people in advanced economies risks ending up poorer. In this episode of the McKinsey Podcast, McKinsey senior partner Richard Dobbs and McKinsey Global Institute (MGI) partner Anu Madgavkar talk with Peter Gumbel about the increase in the number of households that experienced flat or falling incomes in the past decade—and the implications for future growth and economic advancement.

Sam , Aug, 04 2016


Its very easy to see small fragments and make incorrect generalizations. There is a team at Google that has published work on things like scraping the web to automatically gather "facts" and thereby establish the trustworthiness of sites. Work like this is in its early stages, but its not impossible to imagine that at some point, coupled with information from eg what sort of things trend in Google News can be used to inform Google Now that cricket scores are something some people care about knowing in a timely fashion.
Its very easy to see small fragments and make incorrect generalizations. There is a team at Google that has published work on things like scraping the web to automatically gather "facts" and thereby establish the trustworthiness of sites. Work like this is in its early stages, but its not impossi


John , Aug, 04 2016


The reward from state sponsored capitalism for the last 30 years is a poorer, unhealthier & unhappier population as wealth flows ever upwards. The poorest suffer most but this is hidden because they are largely out of sight, kept from starving by food banks and declining state handouts, many of which are anyway taken back by wealthy landlords. The rich will only get richer by harvesting their wealth from wider sources, from the more educated working class and eventually the middle classes, hence the comments above. Public sector pay has been on hold for years to add to the upward flow. Businesses like BHS were hollowed out to make more money for a few. The public must decide what it wants from its servants in parliament. The current crop make more money from activities at odds with a professed intention to serve the general public. They even hide away the means to publicise their conflicts of interest and are well versed in deflecting an accounting. Its why they think they should be paid so well. No austerity for them. Any form of tory government means corporations own it as so many of its politicians have personal wealth axes to grind.
The reward from state sponsored capitalism for the last 30 years is a poorer, unhealthier & unhappier population as wealth flows ever upwards. The poorest suffer most but this is hidden because they are largely out of sight, kept from starving by food banks and declining state handouts, many of whic


Shubham , Aug, 04 2016


Its not the recession. Its globalisation. I saw a fascinating graph recently that summed it up very well. Over the last couple of decades, the very poorest of the worlds poor - say 5% of the worlds population havent improved their situation particularly. Those above that bottom segment, up to roughly the top decile (i.e. about 85% of the worlds population) have actually done quite well, improving their living standards significantly. The top 1% or so have done similarly well. The 90% to 99%, covering a very large swathe of the Wests population, has been hit extremely hard. The challenge for our political leaders is to balance the the benefits to the less well off in the world against managing and mitigating the pain to their own constituents who are the victims of globalisation.
Its not the recession. Its globalisation. I saw a fascinating graph recently that summed it up very well. Over the last couple of decades, the very poorest of the worlds poor - say 5% of the worlds population havent improved their situation particularly. Those above that bottom segment, up to roughl


Alice , Aug, 04 2016


Human nature being what it is people wont see the bigger picture until it actually affects them or theirs directly but its getting clearer that society in the developed-first countries, under the current unrestricted capitalist system is slowly but surely stratifying into the always will haves; the haves for the time being; the used to haves and the never will haves. To those in power operating on a risk management basis, Tories at the moment. As long as the first two categories are still in the majority, things will tick along and the fallout becomes collateral damage. 5 year term governments just kick the can down the road and hope things wont explode on their particular watch. Advancing automation, climate change and over population birth wise and longevity wise are nipping at their heels and wont let go.
Human nature being what it is people wont see the bigger picture until it actually affects them or theirs directly but its getting clearer that society in the developed-first countries, under the current unrestricted capitalist system is slowly but surely stratifying into the always will haves; the