The rise of China to the status of economic superpower has been the dominant narrative of the last three decades. China’s rise as the main feature of globalisation, in conjunction with a beneficial sweet spot in demography, drove output up and inflation down in the advanced economies. But these trends are now reversing. China’s economic success depended on many […]
How will the Covid-19 crisis impact corporate sustainability? Many academics and business leaders have already reflected on this question and more are sure to follow. While opinions vary, it is clear the pandemic could change corporate sustainability as we know it.
A recent survey of senior sustainability professionals from 102 companies found that only 2% felt the crisis would not […]
It has become increasingly salient that publicly funded health care providers such as hospital are sensitive to incentives. There is increasing evidence that competition between health care providers produces efficiency and quality improvements (Gaynor and Propper, 2010), even when in some countries it has not produced the expected outcomes (Gobillon and Milcent, 2017). However, when health care providers compete […]
Since the onset of COVID-19, a common topic of conversation with family, friends, and colleagues has been the challenge of getting back to pre-pandemic levels of daily productivity. In this transition period between their old work lives and the new normal that has not yet arrived, many begin their mornings with the best of intentions, but by the evening, […]
It has been an eventful week with the government introducing the “UK Internal Market Bill” and the EU reacting by threatening legal action against the UK unless it rewrites the bill to avoid a serious violation of the withdrawal agreement and international law. This is something that could have implications for the Brexit negotiations. On the pandemic front, with […]
Why firms engage in corporate social responsibility (CSR) is widely debated, particularly in the context of the 2019 Business Roundtable statement by US chief executives, which redefined the purpose of a corporation as promoting an economy that serves not only shareholders but all stakeholders, including customers, employees, suppliers and communities. Despite these debates, there is surprisingly little direct evidence […]
One of the most dramatic changes in the world economy over the past half century has been the emergence of China as a major force in world trade. A central question in international economics is the implications of such economic growth for the income and welfare of trade partners. A related question in political economy is the extent to […]
As the COVID-19 crisis began to impact the work of changemakers around the world, I felt it was important to create a community where people responsible for social change could get ideas and inspiration in the face of an unprecedented level of uncertainty about the future. This became “Change for Good”. Over sixteen weeks, leaders from corporations, foundations and […]
Programmable money can be designed to flow as easily as email without sacrificing regulatory controls, monetary policy or personal privacy. – IBM 2018
If the US dollar is to remain the world’s primary reserve currency in the unfolding digital century, how can it remain an analog instrument and unit of account for things increasingly programmable and denominated as digital tokens?– […]
The severity of the COVID-19 pandemic, as manifested in the number of daily cases, has decreased significantly in most countries and there is light at the end of the tunnel. There are also early signs of economic recovery, even though it is too early to say which letter of the alphabet it will look like (L, V or W). […]
Most forward-thinking companies accept that creating an equitable and inclusive workplace is a leadership challenge and one which needs to involve men as active stakeholders. While it is reassuring to see less focus on ‘fixing the women’ and more on engaging men, there is a lot of confusion about what this actually means and how to approach it, or […]
On Christmas Eve 2019, Dr. Yang Wen had two more hours on the night shift at a General Hospital in Beijing, and planned to spend the day with her college student son, who was back from Yale for the holidays. But an irate man, who had been complaining about his 95-year-old mother’s treatment, snapped. He suddenly started stabbing the […]
Economists associate the mass distress of firms during recessions with Joseph Schumpeter’s creative destruction theory, which says that during downturns small, less efficient, younger firms are the ones to exit the market. Their exit allows for more efficient firms to expand, lifting overall productivity. In a global pandemic like COVID, however, this theory may be on less certain grounds, […]
Durante las últimas décadas se ha evidenciado un aumento sin precedentes en el número de organizaciones que apoyan el crecimiento de emprendimientos innovadores. Estas aceleradoras de negocios buscan identificar y apoyar a emprendimientos con potencial trasformador que puedan escalar rápidamente y convertirse en líderes de su sector a nivel nacional o internacional.
Aunque se sabe de la importancia de esta […]
The last few decades have seen an unprecedented increase in the number of organisations supporting innovative ventures. These business accelerators seek to identify and boost high-potential startups that can rapidly scale up to become national or global leaders.
Although the importance of high-potential startups—also known as “gazelles”—for economic development is well-known, the evidence regarding the impacts that support organisations have […]
Teams are the fundamental building blocks of modern organisations, as team-based structures have grown from less than 20 per cent in 1980 to 50 per cent in 1990, to over 80 per cent in 2000, and by 2010 nearly all organisations had adopted formal team structures. Business success today depends not on how people work but how effectively people work […]
What is the essential task of management? To look after the short term in ways that not only protect, but even enhance medium and long-term prospects. For businesses, the COVID-19 crisis presents massive challenges to fulfilling this quest; it is difficult to pull off even in periods of growth. Previous downturns demonstrated how problematic it is to ride out, […]
Abundant natural resources like oil and gas rarely turn out to be a real blessing for a country. More frequently they distort economic policies, discourage entrepreneurial activity and ultimately suppress economic growth. Yet not all countries suffer from this resource curse to the same extent: some manage to escape it or even turn natural resources into a blessing. An […]
Government spending around the world is soaring in response to the COVID-19 crisis. Rising spending coupled with collapsing tax revenues could soon drive up fiscal deficits as well as government borrowing (Kapoor and Buiter, 2020), posing a potential threat to budget balances. The consequences of rising fiscal deficits and debt-to-GDP ratios would be severe if low interest rates were […]
Many people find themselves working in organisations characterised by dysfunction. These so-called “toxic workplaces” can involve intolerance, bullying, narcissism, and other forms of destructiveness that, over time, can demoralise people and undermine organisational purposes. Workers in these organisations have three primary courses of action when faced with toxic work conditions over which they have little control: they can leave; […]
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