Business

Capitalism Will Shrink Inequality. In Fact, It’s Happening.

Does capitalist economic growth lead to greater inequality, or less? The mid-20th-century economist Simon Kuznets believed that at first, industrialization would lead to greater inequality as a few pioneering entrepreneurs and workers moved to the cities where the growth was happening. But as rural areas emptied out and the economy matured, he said, inequality would

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Skoll | Meet the 2017 Skoll Awardees for Social Entrepreneurship

Kicking off next week’s 14th Annual Skoll World Forum, the Skoll Foundation announced the four recipients of the 2017 Skoll Award for Social Entrepreneurship. The Skoll Awards distinguish transformative leaders whose organizations disrupt the status quo, drive sustainable large-scale change, and are poised to create even greater impact on the world. With the 2017 announcement,

Do environmental regulations reduce employment? Not really.

There is no consistent evidence that environmental regulations cause long-term changes in overall employment. In a recent speech,  President Donald Trump made reference, as he often does, to regulations that have killed American jobs. This is an oft-used argument on the right — so common, in fact, that it is now taken as a kind

Hiding Products From Customers May Ultimately Boost Sales

Is it smart for retailers to display their wares to customers a few at a time or all at once? The answer depends largely on the product category, according to research by Kris Johnson Ferreira and Joel Goh. Retailers routinely swap out the products they display to customers. It’s called assortment rotation, and it’s a

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Income Inequality, Robots and a Path to a Fairer Society – Knowledge@Wharton

Earlier this year, Oxfam reported that the world’s eight richest people control roughly the same amount of wealth as the bottom half of the world’s population. Around the same time, the World Economic Forum identified income inequality as the most challenging problem the world faces today. It is an issue that has been discussed for

Why Credit Unions Are Stealing The Banking Spotlight

The evolution of consumer expectations has greatly impacted the banking landscape, putting the pressure on banks both big and small to keep pace with the change. For credit unions, which have gained attention more recently as being the “cool” option for banking, staying relevant in a competitive and growing banking sector means relying on more

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It Changed My Life: Labour of love putting the poor to work

Mr Mok is the founder and chief executive of Backstreet Academy, a start-up which curates localised experiences, tours and activities - from knife-making in Luang Prabang to insect cooking in Siem Reap and archery in Yogyakarta - for travellers. More than just a money-making venture, however, the peer-to-peer platform sets out to help artisans and

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Why a toxic workplace is now a much bigger liability for companies

Corporate culture has long been the sort of squishy management consultant term that’s hard to define, even harder to change, and the recipient of lots of lip service yet most of the time very little action by chief executives. But however amorphous the phrase may be, its importance was stamped into stark relief this week after a

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This Executive Believes Businesses Have An Obligation To Make A Positive Impact

“Businesses hold most of the resources in the world, and I believe they have a responsibility to be part of the solution to many of the world’s most pressing challenges: poverty, hunger, climate change, etc. The state of the world demands that businesses step up to do their part.” So says Atlanta McIlwraith, senior manager

Firms that owed more also laid off more workers during the 2007-2009 recession.

The debt levels of large companies just before the Great Recession of 2007-2009 are strongly linked to local unemployment spikes during that time, a novel study co-authored by an MIT professor finds — adding another dimension to our picture of the recent economic crisis. “We found that companies with high leverage around 2006 ended up

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The robot that takes your job should pay taxes, says Bill Gates

Robots are taking human jobs. But Bill Gates believes that governments should tax companies’ use of them, as a way to at least temporarily slow the spread of automation and to fund other types of employment. It’s a striking position from the world’s richest man and a self-described techno-optimist who co-founded Microsoft, one of the

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How Has Technology Changed The Way We Trust?

Rachel Botsman has spent over a decade thinking about the "sharing economy." As an an author and a visiting academic at the University of Oxford, Saïd Business School, who researches how technology is transforming trust, she’s an authority on the subject. She's also one of Fast Company's Most Creative People. She is currently writing a

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Development Aid – Why Not Participate When It Is Win-Win?

Immediately following World War II, the United States set out on an ambitious plan to help develop the war-torn European nations. In what became known as the Marshall Plan, named after the Secretary of State, George Marshall, the plan aimed to reduce poverty and suffering. During its implementation between 1948 and 1952, Europe saw the

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Create a Business That Inspires Change (in the World and in Your Pocket)

Social responsibility has fortunately gone from the realm of corporate communications to business operations: It can no longer be faked. The best businesses are those that have built sustainability into the core of their business models and are using their people to create passion for their mission with consumers. AeroFarms, which grows nutritious leafy greens and

Your anonymous web browsing history may not be anonymous

Raising further questions about privacy on the internet, researchers from Princeton and Stanford universities have released a study showing that a specific person's online behavior can be identified by linking anonymous web browsing histories with social media profiles. "We show that browsing histories can be linked to social media profiles such as Twitter, Facebook or

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Empowering women to overcome the continued existence of the glass ceiling

The "glass ceiling" is simply a label for the barrier that often keeps women from rising to the upper rungs of power across the U.S., regardless of their qualifications or achievements. The term was first used in the media in the late 1970s. Today the glass ceiling reflects the gaps in pay, retirement savings and

Online dating booming but how much does education matter?

Online daters are most likely to contact people with the same level of education as them, but are less fussy about an intellectual match as they get older, according to QUT research. This finding was revealed in a study titled: ‘Things change with age: Educational Assortment in online dating’, conducted by QUT behavioural economists Stephen

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Majority of U.S. Mayors Say Poverty Is Their Top Concern

While the growing divide between “coastal elites” and Middle America has been a hot topic in recent months, many mayors from red and blue states have strikingly similar policy priorities, according to a survey released Tuesday by the Boston University Initiative on Cities. The 2016 Menino Survey of Mayors, now in its third year (see

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How large a role should business play in improving society?

All societies have problems. I am sure this is not a shock to anyone. Neighbors have disputes, poverty exists and inequality grows. Simply put, if each individual of a society is imperfect, so too is society, and since no one is perfect, we each play a part in making society imperfect. And like people, institutions

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