economy

Why Stock Buybacks Are Good for the Economy and Country

Self-interest has always been a primary tenet of capitalism. As Adam Smith famously wrote, “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” Private interest, in the aggregate, is often a public good.

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The Longevity Economy Generating Economic Growth - A Report from AARP

AARP has been  busy, working with Oxford Economics, putting some numbers around the value of the older consumer market.

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Can Kenya Make a Run for Economic Gold?

Did you notice Kenya’s surprising performance at the 2012 London Olympics? Take a look at this New York Times infographic of the final medal standings in London – there’s Kenya standing tall as the leading medal-winner on the African continent and even ahead of other nations – like Mexico or Turkey or India or Argentina – that we typically consider to be among the world's next great emerging markets. Including Beijing, Kenya's top athletes have now taken home 25 medals from the past two Olympic Games - and that might just foreshadow the rise of Kenya as a new economic innovator on the world stage.

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The Continued Economic Decline of the West - Ahhh

Many years ago I worked as a consultant for PA Consultants. A few years after I left and the company was in serious problems (the two are not connected) it employed a new CEO called Jon Moyniham. He pushed and pulled the company around it seems as if it has flourished. Park this fact for a moment.

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Social media, Perfect Information and Whether The Best Products Will Always Win

There is a concept in macroeconomics called ‘perfect information‘. In brief (and apologies for missing many details of the theory and debate for a non-specialist audience), this would say that if all consumers know all things, about all products, at all times, then they will choose the best one for them. Taken to its conclusion, this theory would say that the best products would get the highest sales; and conversely the worst products would get no sales. The best products would survive, because they are the best.

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World Economic Forum: More than Meets the Eye

I spent the last week at the World Economic Forum in Davos, Switzerland. When my friends (y’all) learned I was going, some were supportive while others were horrified. A few called me an outright traitor. Given how much mythology there is around this event, I want to take a moment and briefly share my own experience there.

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Maxwell's Demon and the Frictionless Economy

The great promise of the Internet has always been the ability to create truly "frictionless" markets, where buyers and sellers, producers and consumers, are able to do business directly with one another. Fifteen years after Bill Gates first coined the term friction-free capitalism, a new generation of Internet companies are innovating to find ways of reducing friction within the Internet economy.

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