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Signos de uso. Nombre del anterior propietario. Academia christiana, Published by Peuser From: Cueva Libros - Alberto F. Costa Ciudad de Buenos Aires,. About this Item: Peuser, Bridging the gap None of this means that the digital revolution is bad for humanity. Far from it.
This newspaper believes firmly that technology is, by and large, an engine of progress. IT has transformed the lives of billions for the better, often in ways that standard income measures do not capture. Communication, knowledge and entertainment have become all but free. Few workers would want to go back to a world without the internet, the smartphone or Facebook, even for a pay increase. Technology also offers new ways to earn a living. Etsy, an online marketplace for arts and crafts, enables hobbyists to sell their wares around the world.
Uber, the company that is disrupting the taxi business, allows tens of thousands of drivers to work as and when they want. Nonetheless, the growing wedge between a skilled elite and ordinary workers is worrying.
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Angry voters whose wages are stagnant will seek scapegoats: witness the rise of xenophobia and protectionism in the rich world. In poor countries dashed expectations and armies of underemployed people are a recipe for extremism and unrest. Governments across the globe therefore have a huge interest in helping remove the obstacles that keep workers from wealth.
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The answer is not regulation or a larger state. High minimum wages will simply accelerate the replacement of workers by machines. Punitive tax rates will deter entrepreneurship and scare off the skilled on whom prosperity in the digital era depends. The best thing governments can do is to raise the productivity and employability of less-skilled workers.
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That means getting rid of daft rules that discourage hiring, like protections which make it difficult to sack poor performers. It means better housing policy and more investment in transport, to help people work in productive cities such as London and Mumbai. It means revamping education. Not every worker can or should complete an advanced degree, but too many people in poor countries still cannot read and too many in rich ones fail to complete secondary school.
In future, education should not be just for the young: adults will need lifetime learning if they are to keep up with technological change. Yet although governments can mitigate the problem, they cannot solve it. As technology progresses and disrupts more jobs, more workers will be employable only at lower wages. The modest earnings of the generation that technology leaves behind will need to be topped up with tax credits or wage subsidies.
That need not mean imposing higher tax rates on the affluent, but it does mean closing the loopholes and cutting the giveaways from which they benefit.
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In the 19th century, it took the best part of years for governments to make the investment in education that enabled workers to benefit from the industrial revolution. The digital revolution demands a similarly bold, but swifter, response. Hay innovadores que pueden convertir sus ideas en empresas, con valuaciones enormes, y casi sin personal. Con menos de Ahora, a medida que se elevan los costos laborales y caen los de la manufactura automatizada, Foxconn cambia trabajadores por robots.
Lejos de ello. Los gobiernos del mundo entero tienen por lo tanto grandes incentivos para eliminar las trabas que mantienen a sus trabajadores en la pobreza. Aun cuando los gobiernos son capaces de atenuar el problema, no pueden solucionarlo. The greenback has risen 6. It recently hit a six-year high against the yen and a two-year high against the euro.
The trend reflects confidence in the prospects for the American economy, combined with worries about the health of the rest of the world.
On October 7th the IMF lowered its forecast for global growth in to 3. Some of the biggest reductions were in Europe: it now expects France to grow just 0. In contrast, the latest American data showed a , jump in jobs in September and a fall in the unemployment rate to 5. This relatively strong economic performance has reinforced expectations that the Federal Reserve will start to push up interest rates next year while the European Central Bank and the Bank of Japan will keep them low. The carry trade has been difficult in recent years because nearly all countries in the rich world have held rates close to zero.
But there is now a significant carry in the bond markets, where ten-year Treasury bonds yield one-and-a-half percentage points more than German bonds of the same maturity—a very wide gap by historical standards. A stronger economy also makes American companies more appealing to international investors. That increases the demand for dollars.
The big question, however, is how long this trend will last. As the chart shows, the latest rebound is small by the standards of the huge rallies in the early s and the late s. A strengthening dollar has its advantages for Americans. Foreign investors will be keener to hold Treasury bonds, making it easier for the government to fund its deficit. American tourists will find their money goes further on foreign trips. Imports will fall in price, keeping inflation down despite the healthy economy.
But there are downsides too. A stronger dollar will have the opposite effect on the European and Japanese economies, making their exports cheaper and pushing up import prices. Policymakers in both areas may welcome that, since they are struggling to generate growth and avoid deflation. Investors were also pouring money into emerging markets, enticed by their better growth prospects, leading some countries including Brazil to impose capital controls.
A stronger dollar may now prompt capital to flow out of such countries just as fast.
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That will be a particular problem in places where governments or firms have borrowed significantly in dollars, since their revenues are denominated in local currency but their liabilities in dollars. A prolonged dollar rally may also have political ramifications. A paper by Douglas Campbell of the University of California, Davis, found that the previous two big dollar surges led to a decline in manufacturing jobs. That provoked complaints from American politicians that first Japan and then China were unfairly suppressing their currencies to take American jobs.
It is easy to imagine the same arguments resurfacing this time, with the obvious target being Germany.