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Written a few posts recently (including here and here) comparing US vs. Europe in terms of generating high-impact startups, or “unicorns. No large advanced economy does high-impact entrepreneurship like America (see above chart). Along those lines, Business Insider’s Mike Bird looks at US-Europe cultural attitudes about entrepreneurship and innovation, by way of a European Commission study on the subject: […]
What are the ethics of a certain set of policies that could make it less likely the US would generate innovative, risk-taking people and companies that (a) provide opportunity to low-income overseas workers and (b) technologies that can be spread to lower-income nations and boost economic growth?
Last week, the National Journal (NJ) published an article on “social-impact financing”—often referred to as pay for success or social impact bonds—entitled: “Is Wall Street Starting to Recruit in Pre-K?” Most of the article’s focus is on describing this innovative new approach to public financing that uses private dollars from investment banks and other sources to scale promising social programs. (For more information on the approach, see my recent blog here.) But the title of the piece reflects a counterproductive misunderstanding on the role of investment banks—or any funder—in social programs.
View related content: Carpe Diem
Here’s the abstract from a research paper titled “Alcohol as a Gateway Drug: A Study of US 12th Graders” that was published in the Journal of School Health in August 2012 (emphasis added): BACKGROUND: The Gateway Drug Theory suggests that licit drugs, such as tobacco and alcohol, serve as a “gateway” toward the use of […]
When economists — and the Obama White House — talk about middle-class income stagnation, they are often referring to Census Bureau data showing median household income — adjusted for inflation — rose less than 10% from 1984 through 2013, just less than 0.3% per year. That stinks. But those statistics just don’t pass the smell test. Anyone over the age of 35 or so knows Americans are substantially better off than they were 30 years ago. Economist (and former head of the National Bureau of Economic Research) Martin Feldstein helpfully digs into the data: […]