The Exchange
  • Why Isn’t Disruptive Technology Lifting Us Out of the Recession?

    By Martin Neil Baily and James Manyika

    The weakness of the economic recovery in advanced economies raises questions about the ability of new technologies to drive growth. After all, in the years since the global financial crisis, consumers in advanced economies have adopted new technologies such as mobile Internet services, and companies have invested in big data and cloud computing. More than 1 billion smartphones have been sold around the world, making it one of the most rapidly adopted technologies ever. Yet nations such as the United States that lead the world in technology adoption are seeing only middling GDP growth and continue to struggle with high unemployment.

    There are many reasons for the restrained expansion, not least of which is the severity of the recession, which wiped out trillions of dollars of wealth and more than 7 million US jobs. Relatively weak consumer demand since the end of the recession in 2009 has restrained hiring and there are also structural issues at

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  • For all the explosive revelations about the U.S. government monitoring online activity, several intriguing mysteries remain. One of them is how the government actually gets the information it monitors.

    AP

    In a Top Secret slide presentation obtained and published by the Guardian and the Washington Post, the government claimed to gather data “directly from the servers” of nine prominent U.S. firms: Microsoft (MSFT), publisher of this web site Yahoo! (YHOO), Google (GOOG), Facebook (FB), PalTalk, AOL (AOL), Skype (owned by Microsoft), YouTube (owned by Google) and Apple (AAPL). All those firms have denied giving the government direct access to their servers or voluntarily providing customer data to the feds. But those statements seemed carefully crafted to allow exceptions, since U.S. companies must comply with court orders or other legal authorizations requiring them to turn over user data.

    The big question privacy experts are now asking is whether the government can essentially gain

    Read More »from How the Feds Snatch Surveillance Data From Tech Firms
  • Do We Really Need a Bigger IMF?

    By Desmond Lachman

    John Maynard Keynes famously remarked that, “when the facts change, I change my mind. What do you do, sir?” Sadly the same might not be said for the Obama Administration in relation to its unwavering support for a bigger International Monetary Fund. For, despite the progressive weakening over the past three years of the arguments favoring a larger IMF, the U.S. administration continues to badger a reluctant U.S. Congress for an effective doubling in the IMF’s size.

    Prior to the outbreak of the European sovereign debt crisis in early 2010, the IMF’s future role as a multilateral lender was in serious question. The IMF’s traditional Latin American clientele had for the most part mended its profligate ways and became increasingly determined not to subject itself again to IMF tutelage. Meanwhile, following IMF overreaching during the Asian crisis of the late 1990s, the Asian countries built up enormous cushions of international reserves. They did so with the express

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  • Unpaid Internships: Legal or Not?

    By Zac Bissonnette

    About 30% of college students will work at least one unpaid internship, according to the National Association of Colleges and Employers (NACE), and that raises interesting questions about exploitation and opportunity. Unpaid internships might provide experience, networking opportunities, and resume benefits—but those advantages are generally available only to students from affluent enough backgrounds to forgo finding a paid summer job.


    Then there’s this: According to NACE, paid interns are about twice as likely as unpaid interns to see their positions turn into full-time jobs, and when they do they come with higher salaries: $51,930 for paid interns compared with $35,751 for unpaid interns. Oddly, those with no internship experience earned more ($37,087) than those with unpaid internships, so if you skipped out on that publishing internship to wait tables at Olive Garden, you may be smarter than your professors are giving you credit for.

    But is it legal?

    Numbers

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Pagination

(785 Stories)
 
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