The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
伊斯坦布尔—如今,全球经济正在经历根本性变革,全世界工人面临着巨大压力。特别是在发达国家,社会政策必须有所调整,以提供低收入群体所需要的支持,同时刺激增长、增加福利。
压力是无情的,也是无可逃避的。在美国,仅有高中文凭的男性的真实(经通胀调整的)报酬在1979年至2013年间下降了21%。在工资保护更好的欧洲大部,失业率高企,特别是在2008年欧元危机爆发后。德国和一些北欧国家仍然是例外,尽管德国劳动力市场也存在一个规模庞大的低工资、低职位细分。
这一趋势的背后是工作性质的改变。首先,服务业在全世界兴盛,发达经济体尤其如此。从1970年到2012年,服务业占经合组织国家GDP的比重从53%上升到71%。
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