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What Next for China’s Development Model? - By A. Michael Spence
China’s strategy for economic growth has been a work in progress since Deng Xiaoping launched the country’s “reform and opening up” in 1978. While the last 40 years of reform have been far from error-free, the government has displayed a willingness to adapt, as well as a capacity for navigating complex transitions, supported by a healthy internal policy debate. But how is China’s development model likely to evolve in the future, as external conditions pose new challenges to economic growth?
—- Biography: Professor A. Michael Spence
- Department: Economics
— Opinion
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Hedge Funds and Newspapers: a Bad Mix - By Michael Posner
Two news stories this week captured conflicting forces at play in the struggle to preserve journalism. On the positive side, Facebook announced that it will invest more than $300 million over the next three years to help support local news organizations globally. But while Facebook was promising to help smaller news organizations “grow and thrive,” the same sort of local outlets came under existential threat from another direction.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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Trump vs. the Economy - By Nouriel Roubini
Financial markets have finally awoken to the fact that Donald Trump is US president. Given that the world has endured two years of reckless tweets and public statements by the world’s most powerful man, the obvious question is, What took so long?
—- Biography: Professor Nouriel Roubini
- Department: Economics
— Opinion
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How Inequality Undermines Economic Performance - By A. Michael Spence
About a decade ago, the Commission on Growth and Development (which I chaired) published a report that attempted to distill 20 years of research and experience in a wide range of countries into lessons for developing economies. Perhaps the most important lesson was that growth patterns that lack inclusiveness and fuel inequality generally fail.
—- Biography: Professor A. Michael Spence
- Department: Economics
— Opinion
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The Competitive Landscape of AI Startups - By Robert Seamans
Big tech companies are pouring tens of billions of dollars into research on artificial intelligence (AI). Can small startups hope to enter AI markets and compete effectively?
—- Biography: Professor Robert Seamans
- Department: Department of Information, Operations, and Management Sciences
— Opinion
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How McKinsey & Co Fails as a Global Leader - By Michael Posner
Few companies in any industry have built a reputation for leadership that McKinsey & Company has in the world of management consulting. Each year, the best and brightest students from the most prestigious colleges and business schools compete for the privilege of joining the firm. They do so knowing that they will receive superior training, work on cutting-edge issues with top global corporations and governments, and be able to add the McKinsey name to their resumes.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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Why We Should Care About Human Rights: The Universal Declaration of Human Rights at 70 - By Michael Posner
On December 10, the United Nations will mark the 70th anniversary of the Universal Declaration of Human Rights. In an era of spreading nationalism and gross violations in places like Yemen, Myanmar, South Sudan and Venezuela, it is fair to ask whether the Universal Declaration and the global human rights movement have improved the human condition. And given these contemporary challenges, there’s the further question of where we go from here.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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How PwC's Tim Ryan Learned to Talk About Race (and How You Can, Too) - By Dolly Chugh
On December 7, 2018, companies across the United States will engage in a “Day of Understanding.” The specific activities of the day will vary from company to company, with the shared goal of striving for workplaces that are “trusting places for having complex, and sometimes difficult, conversations about diversity and inclusion." The companies are all part of CEO Action, a coalition of more than 500 CEOs led by Tim Ryan, chairman of PwC United States.
—- Biography: Professor Dolly Chugh
- Department: Management and Organizations
— Opinion
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Hungary Closes a University: Lessons on the Creeping Decline of Democracy - By Michael Posner
On Monday, the Central European University was forced out of Hungary, the latest victim of Prime Minster Victor Orban’s increasingly authoritarian rule. Founded in 1991 by Hungarian-born financier and philanthropist George Soros, the CEU has become one of the leading universities in Central Europe, with world-class programs in politics and international studies. In recent years, Orban has targeted the CEU and Soros as part of his broader efforts to undermine democratic institutions in Hungary.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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The Digital Key to Inclusive Growth - By A. Michael Spence
Some observers interpret the trade war that US President Donald Trump has initiated with China as a tough negotiating tactic, aimed at forcing the Chinese to comply with World Trade Organization rules and Western norms of doing business. Once China meets at least some of Trump’s demands, this view holds, mutually beneficial economic engagement will be restored. But there are many reasons to doubt such a benign scenario. The long China-US trade war is really a manifestation of a fundamental clash of systems.
—- Biography: Professor A. Michael Spence
- Department: Economics
— Opinion
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Government Can Do More to Support Science and Innovation - By Paul Romer
The U.S. government is divided and so are the people. But perhaps we can all agree that the economic growth of the 20th century, driven by robust markets and technological innovation, was good for everyone. The government can do more than most policy makers realize to sustain this long-term, broadly shared growth through investment in science.
—- Biography: Professor Paul Romer
- Department: Economics
— Opinion
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Why Central Bank Digital Currencies Will Destroy Cryptocurrencies - By Nouriel Roubini
The world’s central bankers have begun to discuss the idea of central bank digital currencies (CBDCs), and now even the International Monetary Fund and its managing director, Christine Lagarde, are talking openly about the pros and cons of the idea.
—- Biography: Professor Nouriel Roubini
- Department: Economics
— Opinion
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Confronting Facebook's Growing Pains - By Michael Posner
On Wednesday, The New York Times published an in-depth account of Facebook’s poor corporate responses to political disinformation, hate speech and other harmful content on its platform. The Times described the company’s approach as “delay, deny and deflect.” A day later, Facebook issued a sharp rebuttal, insisting that it is making progress on these challenges, such as recent improvement in its efforts to take down hate speech.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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US Should Not Abandon Leadership on Asylum - By Michael Posner
President Trump signed a proclamation on Friday that contains draconian restrictions on the rights of refugees seeking asylum in this country. The president’s action undermines a 50-year U.S. commitment to providing safe haven for those fleeing ethnic, religious or political persecution. The proclamation invokes “national security” concerns and responds to what the president calls the “overloading of our immigration and asylum system.” Under the new rules, immigrants who do not enter the country legally through official border crossings will be ineligible to apply for asylum regardless of the merits of their cases.
—- Biography: Professor Michael Posner
- Department: Center for Business and Human Rights
— Opinion
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How Investors Can Drive The Shift From Shareholder Primacy to Stakeholder Capitalism - By Tensie Whelan
Imagine the United States economy as Company USA, a corporation that is publicly owned. Just 20% of the country’s citizens are shareholders in Company USA. The company is managing to short-term stock-gain metrics in response to activist investors and quarterly analyst demands, even though most of its shareholders own their stocks through large index funds (which are passive investors) and are in the investments for the long term.
—- Biography: Professor Tensie Whelan
- Department: Center for Sustainable Business
— Opinion
