The century of Chindia?
East Asia and Pacific
Crazy driving in Ulaanbaatar
"We drive cars the same way we ride horses," a Mongolian colleague once told me. It took me a while to process that thought. I can't say I see the grace and beauty of a Mongolian horseman reflected in Ulaanbaatar's traffic. But I don't think that's what he meant. I think he was referring to the freedom of movement that both drivers and riders on horseback enjoy.
Creative destruction in ICT
If ever there were a moment to witness creative destruction in action, now is it. If I had to bet on a sector that would benefit most from this process in the current financial crisis, it's ICT.
The city is the future
Tim Harford opines on the future of cities in his book The Logic of Life:
Blogging and the financial crisis
I've run across two stories of bloggers being arrested (or threatened with arrest) in relation to the financial crisis.
Mobile banking takes WING in Cambodia
One of the enterprises that IFC has been working with in Cambodia is WING, a subsidiary of the Australia and New Zealand Banking Group (ANZ). In late January, WING launched a mobile payments business that targets unbanked customers. Last week, I
Active consumption is a form of patriotism
When people speak of patriotism, they tend to think of war and of deeds on the battlefield. But even in peacetime, patriotism can actually be found in every facet of life. More than simply an idea, patriotism is an action. Today, as China faces serious difficulties and challenges both domestic and international, active consumption is a form of patriotism...
Income (in)equality among the professoriate
“Salary progression”—the difference in salary between junior and senior professors—in general appears modest compared to the situation in the professions outside academe. According to our research, for most of the 15 countries in the study, salaries seldom doubled between entry level and senior ranks.
Tough times in the Chinese labor market
Brian Schwarz of the China Challenges blog reports on the difficulties facing workers in China due to the financial crisis. Governments around the world are gearing up with various stimulus packages, but in the meantime prospects don't sound very good:
A boom year for prediction markets?
Could 2009 be a boom year for prediction markets? Two developments suggest this might be the case. First, many economists are predicting very low inflation (or, according to Nouriel Roubini, aka Dr.