Why We Need More Government, Not Less
We need more government nowadays, not less. Yet the role of government also needs to be modernized, in line with the specific challenges posed by an interconnected world economy.
What's the Latest Development?
President Obama's pending jobs legislation is a step in the right direction despite thirty years of bad policy aimed at downsizing government, says Columbia University economist Jeffrey Sachs. While globalization has promoted rapid technological development and raised the standard of living across many countries, it has also created problems. Low-skilled workers in rich countries have become the primary losers as their jobs go elsewhere. Globalization has also spread contagion such as corrosive banking practices, terrorism and global warming.
What's the Big Idea?
The call to downsize government is ill-suited to solve the problems that face our era, defined primarily by globalization. "Governments should promote high-quality education, to ensure that young people are prepared to face global competition. They should raise productivity by building modern infrastructure and promoting science and technology. And governments should cooperate globally to regulate those parts of the economy—notably finance and the environment—in which problems in one country can spill over to other parts of the world."
These five main food groups are important for your brain's health and likely to boost the production of feel-good chemicals.
We all know eating “healthy” food is good for our physical health and can decrease our risk of developing diabetes, cancer, obesity and heart disease. What is not as well known is that eating healthy food is also good for our mental health and can decrease our risk of depression and anxiety.
Infographics show the classes and anxieties in the supposedly classless U.S. economy.
For those of us who follow politics, we’re used to commentators referring to the President’s low approval rating as a surprise given the U.S.'s “booming” economy. This seeming disconnect, however, should really prompt us to reconsider the measurements by which we assess the health of an economy. With a robust U.S. stock market and GDP and low unemployment figures, it’s easy to see why some think all is well. But looking at real U.S. wages, which have remained stagnant—and have, thus, in effect gone down given rising costs from inflation—a very different picture emerges. For the 1%, the economy is booming. For the rest of us, it’s hard to even know where we stand. A recent study by Porch (a home-improvement company) of blue-collar vs. white-collar workers shows how traditional categories are becoming less distinct—the study references "new-collar" workers, who require technical certifications but not college degrees. And a set of recent infographics from CreditLoan capturing the thoughts of America’s middle class as defined by the Pew Research Center shows how confused we are.
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