Category : Economy

(BBC) Sweden tops Tim Berners-Lee's web index

Sweden has topped a new global index evaluating the state of the web in 61 countries, with the US coming second and the UK third.

Compiled by Sir Tim Berners-Lee’s World Wide Web Foundation, it ranked both the social and political impact of the web.

It found that only one in three people are using the web globally and fewer than one in six in Africa.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --Social Networking, Blogging & the Internet, Economy, Europe, Globalization, Law & Legal Issues, Politics in General, Science & Technology, Sweden

(Christian Century) Carol Merritt–Cultivating a culture of love

Recently, I was reading another article that said that the church should be like Apple computers and pastors ought to be like Steve Jobs. We would, the argument goes, be in much better shape if we all acted like the iconic business man. There have been a lot of posts, articles and sermons to this effect since Jobs died a year ago.

I understand. I love technolgy. We church leaders crave his creativity, vision, and””of course””extraordinary success. We like to learn from other disciplines and Jobs had an amazing way of bringing out the best work in certain people.

Plus, we have a tendency to honor those who have gone before us. We overlook their wrongs and see the deeper purpose of their lives.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Anthropology, Corporations/Corporate Life, Economy, Pastoral Theology, Psychology, Religion & Culture, Science & Technology, Theology

(BBC) Former Egypt culture minister charged with corruption

A former Egyptian culture minister has been charged with corruption.

State media said Farouk Hosni, who served for more than two decades under Hosni Mubarak, had failed to explain how he had about $3m (£1.9m) in assets.

Mr Hosni insisted that his wealth had been legally obtained through investments and sales of his paintings.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Economy, Egypt, Ethics / Moral Theology, History, Law & Legal Issues, Middle East, Personal Finance, Politics in General, Theology

US Slips Down the Ranks of Global Competitiveness

The United States has slipped further down a global ranking of the world’s most competitive economies, according to a World Economic Forum (WEF) survey released on Wednesday.

The world’s largest economy, which was placed 5th last year, fell two positions to the 7th spot – marking its fourth year of decline.

A lack of macroeconomic stability, the business community’s continued mistrust of the government and concerns over its fiscal health were some of the reasons for the downgrade, according to the annual survey.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Globalization, Labor/Labor Unions/Labor Market, The U.S. Government

Notable and Quotable

To ask today’s regulators to save us from tomorrow’s crisis using yesterday’s toolbox is to ask a border collie to catch a Frisbee by first applying Newton’s law of gravity.

–Andrew Haldane, Executive Director for Financial Stability of the Bank of England, as cited this morning on Bloomberg Television

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Economy, England / UK, History

(Telegraph) Christians should 'leave their beliefs at home or get another job'

Christians should leave their religious beliefs at home or accept that a personal expression of faith at work, such as wearing a cross, means they might have to resign and get another job, government lawyers have said.

Landmark cases, brought by four British Christians, including two workers forced out of their jobs after visibly wearing crosses, have been heard today at the European Court of Human Rights
David Cameron, the Prime Minister, has previously pledged to change the law to protect religious expression at work but official legal submissions on Tuesday to Strasbourg human rights judges made a clear “difference between the professional and private sphere”.

James Eadie QC, acting for the government, told the European court that the refusal to allow an NHS nurse and a British Airways worker to visibly wear a crucifix at work “did not prevent either of them practicing religion in private”, which would be protected by human rights law.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Economy, England / UK, Europe, Inter-Faith Relations, Labor/Labor Unions/Labor Market, Law & Legal Issues, Other Faiths, Religion & Culture, Secularism

(Washington Post) Steven Pearlstein–Can we save American capitalism?

A dozen Labor Days ”” and three presidential elections ”” ago, the world was in the thrall of American-style capitalism. Not only had it vanquished communism, but it was widening its lead over Japan Inc. and European-style socialism.

Today, that economic hegemony seems a distant memory. We have watched the bursting of two giant financial bubbles, wiping out the paper wealth many of us thought we had in our homes and retirement accounts. We have suffered through two long recessions and a lost decade of income growth for the average family. We continue to rack up large trade and budget deficits. Virtually all of the country’s economic growth and productivity gains have been captured by the top 10 percent of households, while moving up the economic ladder has become more difficult. And other countries are beginning to turn to China, Germany, Sweden and even Israel for lessons in how to organize their capitalist economies.

It’s no wonder, then, that large numbers of Americans have begun to question the superiority of our brand of free-market capitalism. This disillusionment is reflected not only in public opinion polls but on the shelves of American bookstores, where the subject has attracted many of the best economists in the country. Retooling American capitalism has become something of an national ”” and even international ”” obsession.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Consumer/consumer spending, Corporations/Corporate Life, Economy, The U.S. Government

(WSJ) In Europe, Signs of a Jobless Generation

Euro-zone youth unemployment will remain elevated for at least the next half-decade, the International Labor Organization said Tuesday, forecasting a small reduction in the jobless rate will come from young people withdrawing from the labor market instead of stronger hiring activity.

The Geneva-based agency of the United Nations projects that 15-to-24 year-olds in the 17-member economic bloc will face jobless rates of nearly 22% in 2013 that will dip modestly to 21.4% in 2017. In the U.S., youth unemployment is forecast to fall from 17.4% this year to 13.3% in 2017.

Long-term youth unemployment has long-term consequences for young people and for businesses, according to the ILO and other labor market experts.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Economy, Europe, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Young Adults

(APM's Marketplace) Housing, jobs and retirement stay on voters' minds

Here we are, smack dab in the middle of convention season. Cue the balloons. The Republicans had their turn last week, the Democrats come next. And there are plenty of personal finance issues being aired by the two guys who want to be president. But what are the issues voters are most interested in?

Marketplace’s David Gura recently traveled through both states hosting this year’s conventions as part of our coverage of the how all the tub-thumping plays out where it really matters: the economy.

Gura started down the I-4 corridor, which cuts through Daytona Beach, Orlando and site of the Republican Convention, Tampa. That highway has a high concentration of undecided voters. Some view it as the line between the more conservative north and more liberal south.

Read or listen to it all.

Posted in * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Office of the President, Pensions, Personal Finance, Politics in General, Social Security, The U.S. Government

Kendall Harmon's Sermon from Sunday–Thinking about work from a Christian perspective

Listen to it all if you so desire (give the audio 30 seconds at the beginning to right itself).

Posted in * By Kendall, * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Ministry of the Ordained, Parish Ministry, Sermons & Teachings

(BBC) Marikana mine strike: South Africa court frees miners

About 50 South African miners have been freed after murder charges against them, relating to the deaths of 34 miners shot by police, were dropped.

Prosecutors decided to provisionally set aside charges against 270 striking workers from the Marikana mine following a public outcry.

The miners will be released in batches with no bail requirements.

Earlier, security guards wounded four people with rubber bullets at a mine near Johannesburg, police said.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Africa, Economy, Labor/Labor Unions/Labor Market, Law & Legal Issues, South Africa

Rob Tornoe's 2012 Labor Day Cartoon

Check it out.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

A Prayer for Labor Day (V)

O Almighty God and Heavenly Father, who by thy divine providence has appointed for each of us our work in life, and hast commanded us that we should not be slothful in business, but fervent in spirit, serving thee; help us always to remember that our work is thy appointment, and to do it heartily as unto thee. Preserve us from slothfulness, and make us to live with loins girded and lamps burning, that whensoever our Lord may come, we may be found striving earnestly to finish the work that thou hast given us to do; through the same Jesus Christ our Saviour.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(Hartford Courant) Bob Englehart's 2012 Labor Day Cartoon

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market

A Prayer for Labor Day (IV)

O God, who hast taught us that none should be idle: Grant to all the people of this land both the desire and the opportunity to labour; that, working together with one heart and mind, they may set forward the welfare of mankind, and glorify thy holy name; through Jesus Christ our Lord.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(Gallup) In U.S., Labor Union Approval Steady at 52%

A slim majority of Americans, 52%, approve of labor unions, unchanged from 2010 and 2011, and up only slightly from the all-time low of 48% in 2009. Americans had been far more approving of unions before 2009 than they have in the last few years….Gallup first asked Americans whether they approved of labor unions in 1936, and 72% did at that time. Labor union approval peaked at 75% in January 1957, and remained above 60% until 1978. Approval held just below 60% through 1991, and generally hovered around the 60% mark through 2008. The drop in approval to 48% occurred in 2009, the first year of Obama’s presidency and after the 2008-2009 financial crisis and recession.

Union approval has always varied by party. Currently, 74% of Democrats, 48% of independents, and 31% of Republicans say they approve of unions.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Economy, History, Labor/Labor Unions/Labor Market, Politics in General

A Gloucester County Times Editorial–Not enough jobs; too few good ones

…just the other day, came a study from the National Employment Law Project. It states that in our partial recovery from worst depths of the 2008-2009 recession, the majority of the jobs (58 percent) created since then are low-wage ones, paying less than $14 an hour.

One finding of the study, its authors say, is to point out that there is not just a jobs deficit, but a “good jobs deficit.” Such data ought to alter how the government, the private sector and our educational institutions match workers to sustainable jobs in the future.

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market

A Labor Day Reflection on St. Joseph the Worker

ZENIT spoke with Father Tarcisio Giuseppe Stramare of the Congregation of Oblates of Saint Joseph, director of the Josephite Movement, about Tuesday’s feast of St. Joseph the Worker….

ZENIT: What does “Gospel of work” mean?

Father Stramare: “Gospel” is the Good News that refers to Jesus, the Savior of humanity. Well, despite the fact that in general we see Jesus as someone who teaches and does miracles, he was so identified with work that in his time he was regarded as “the son of the carpenter,” namely, an artisan himself. Among many possible activities, the Wisdom of God chose for Jesus manual work, entrusted the education of his Son not to the school of the learned but to a humble artisan, namely, St. Joseph.

Read it all.

Posted in * Economics, Politics, * Religion News & Commentary, Anthropology, Economy, Labor/Labor Unions/Labor Market, Other Churches, Roman Catholic, Theology

A Prayer for Labor Day (III)

O God, who givest to every man his work and through his labours dost accomplish thy purposes upon earth: Grant thy blessing, we beseech thee, to those who are engaged in the industries and commerce of this land. Defend them from injustice and oppression; give them the due reward of their labours; and deepen within them the spirit of humble and unselfish service, according to the pattern of thy Son, our Saviour Jesus Christ.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(Washington Post Editorial) Labor Day

“BEFORE I HAD BEEN down a mine I had vaguely imagined the miner stepping out of the cage and getting to work on a ledge of coal a few yards away,” writes George Orwell in his classic account of British coal miners at work in the 1930s. What he found instead was that after exiting the primitive and sometimes dangerous elevator that had conveyed them deep into the earth, the miners had a long walk to get to the coal seam ”” if one can call it walking, through those low, narrow tunnels.

“[I]t is a tough job for anybody except a dwarf or a child,” Orwell writes. “You have not only got to bend double, you have also got to keep your head up all the while so as to see the beams and girders and dodge them when they come. You have, therefore, a constant crick in the neck, but this is nothing to the pain in your knees and thighs.” After one to five miles of this ordeal, the miner reaches the seam and only then begins his workday ”” the part he gets paid for: 7½ hours of backbreaking labor, with perhaps a 15-minute break sneaked in to eat whatever bit of food he has brought with him.

The mines aren’t like that anymore, though they can still be deadly, as we are painfully reminded from time to time when we see the pictures of families waiting and fearful of what the rescue workers will find below.

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market

Warren Peper–May we remember to Honor our hardworking heroes today

We celebrate our workers in this country today. Maybe we should also take a moment to remember those who work for us in uniform in other parts of the world.

Not too long ago, one of those people was Cliff Hartley. He joined the Air Force at the age of 19, and one year ago today, he spent Labor Day walking a dusty road in Afghanistan with his dog, Cir, looking for bombs. They were attached to a SEAL team and their primary duties were to sniff out trouble.

Cir retired from duty last October and now lives with Hartley, who has 10 years in the Air Force and plans to do 10 more. Right now, he’s stateside. His retired military working dog now sleeps at his feet in their North Charleston house, just like he once did in a tent in Afghanistan. There’s one big difference. They both sleep much better now.

Read it all.

Posted in * Economics, Politics, * General Interest, * International News & Commentary, * South Carolina, America/U.S.A., Animals, Defense, National Security, Military, Economy, Labor/Labor Unions/Labor Market, War in Afghanistan

A Prayer for Labor Day (II)

On this weekend, when we rest from our usual labors, loving Father, we pray for all who shoulder the tasks of human labor””in the marketplace, in factories and offices, in the professions, and in family living.

We thank you, Lord, for the gift and opportunity of work; may our efforts always be pure of heart, for the good of others and the glory of your name.

We lift up to you all who long for just employment and those who work to defend the rights and needs of workers everywhere.

May those of us who are now retired always remember that we still make a valuable contribution to our Church and our world by our prayers and deeds of charity.

May our working and our resting all give praise to you until the day we share together in eternal rest with all our departed in your Kingdom as you live and reign Father, Son, and Holy Spirit, one God, forever and ever. Amen.

–Archdiocese of Detroit

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

A Prayer for Labor Day (I)

O LORD Jesus Christ, who in thy earthly life didst share man’s toil, and thereby hallow the labour of his hands: Prosper all those who maintain the industries of this land; and give them pride in their work, a just reward for their labour, and joy both in supplying the needs of others and in serving thee their Saviour; who with the Father and the Holy Spirit livest and reignest, ever one God, world without end. Amen.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(The Tablet Editorial) Disunited States

The rest of the world, baffled and worried by what it sees as a flirtation with extremism in the world’s most powerful nation, can nevertheless understand why President Obama has such a fight on his hands. For it, too, feels let down by the refusal of the early Obama vision to materialise, and by his failure to revive the sluggish American economy.

The social divide in America is alarming. Part of the disappointment of Mr Obama’s first term has been his inability to overcome divisions. There is no force for harmony in America at present, no shared idea of what the country is about, no unifying national conversation.

The large and powerful Catholic Church, which could have been a peacemaker, has pushed the pursuit of its own agenda so far that it is now another source of disunity. Cardinal Dolan’s willingness to appear at the Republican Convention has partly been rectified by his acceptance of an invitation to the Democratic Party event next week. But his long-standing friendship with Paul Ryan ”“ a disciple of the notorious atheist Ayn Rand ”“ will cause consternation in Catholic circles around the globe.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Economy, Ethics / Moral Theology, History, Law & Legal Issues, Office of the President, Politics in General, Religion & Culture, The U.S. Government, Theology

Larry Lindsey on the Budget and the Economy–Someone who actually Talks some Sense

Watch it all.

Posted in * Economics, Politics, Budget, Economy, Medicare, Social Security, Taxes, The National Deficit, The U.S. Government

(Guardian) How Google and Apple's digital mapping is mapping us

It is a testament to the rate of change in the world of mapping, though, that Liquid Galaxy is now essentially old hat. Google has much, much bigger plans. In June it revealed that it had already started using planes ”“ “military-grade spy planes”, the New York senator Charles Schumer claimed ”“ to provide more detailed 3D imagery of the world’s big cities. It also unveiled the Street View Trekker, a bulky backpack with several 15-megapixel cameras protruding on a stalk, so that operatives can capture “offroad” imagery from hiking trails, narrow alleyways or the forest floor. Almost every month, new kinds of data are incorporated into Google Maps: in June, it was 2,000 miles of British canal towpaths, complete with bridges and locks; it was bike lanes. And for the first time, Google’s dominance of digital mapping faces a credible threat: Apple has announced that it will no longer include Google Maps on iPhones or iPads, replacing it with an alternative that, an Apple source told the tech blog All Things D, “will blow your head off”.

“I honestly think we’re seeing a more profound change, for mapmaking, than the switch from manuscript to print in the Renaissance,” says the University of London cartographic historian Jerry Brotton. “That was huge. But this is bigger.” The transition to print gave far more people access to maps. The transition to ubiquitous digital mapping accelerates and extends that development ”“ but it is also transforming the roles that maps play in our lives….

Google and Apple insist, plausibly enough, that they’re not interested in anyone’s individual data: the commercial value lies in the patterns they can detect in the aggregate. But you’d be forgiven for not being entirely reassured….
“There’s kind of a fine line that you run,” said Ed Parsons, Google’s chief geospatial technologist, in a session at the Aspen Ideas Festival in Colorado, “between this being really useful, and it being creepy.”

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Corporations/Corporate Life, Economy, Globalization, Psychology, Science & Technology

Another Promising Story about a new Drug in Trials for Duchenne Muscular Dystrophy

Even with Duchenne Muscular Dystrophy, there’s no stopping 12 year old Justin Trovillion. We met Justin last year just before he took part in a trail involving an experimental drug.

His mother Carrie Trovillion says she feels since the trial, Justin has a new energy for life.

“Now I’m pulling him inside at night trying to make him go to bed!,” said Carrie. “He doesn’t want to sit on the couch anymore!”

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Children, Corporations/Corporate Life, Drugs/Drug Addiction, Economy, Health & Medicine, Marriage & Family

(Washington Post) Bernanke: Federal Reserve will be ”˜forceful’ in supporting recovery

The Fed chairman said the central bank intends to be “forceful .”‰.”‰. in supporting a sustainable recovery.” With Europe’s financial crisis and the United States’ looming budget cuts and tax hikes posing major risks for the recovery, he said, economic growth is “far from satisfactory,” and he pledged the Fed will take additional steps to help the economy as needed.

As is common of Fed pronouncements, Bernanke hinted but offered no certainty of action to come. Still, the urgent tone of his remarks will leave investors disappointed if the Fed does not launch new stimulus at its Sept. 12-13 policymaking meeting. Investors seemed hopeful, with stocks trending up by about 1 percent in the early afternoon.

“We must not lose sight of the daunting economic challenges that confront our nation,” Bernanke said. “The stagnation of the labor market in particular is a grave concern, not only because of the enormous suffering and waste of human talent it entails, but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years.”

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Economy, Europe, Federal Reserve, Globalization, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government

(NY Times Op-Ed) Imraan Coovadia on the recent Horrible Story at a South African Mine

…a mine is a difficult place to learn or teach a principle. As a schoolboy I went down a coal shaft as a guest of the Chamber of Mines, which wanted to encourage children to become mining engineers. For an hour we plummeted into dark heat and noise, passages of shivering wooden pillars, rock ceilings sloping almost to the floor that wept hot water. We passed men bent over their clanging and clattering drills who could not even stand up straight where they worked. To go in and come out of such a place, each day of a short life, was, I suspected, placing too much strain on the human heart. One could do it only if one didn’t know that, in 2011, three Lonmin executives earned the same as the combined salaries of 3,600 rock-drill operators.

In the years since 1994, South Africans chose money, and faith in the growth of gross domestic product, as our country’s story line. It is a strange twist to the narrative that many of the northern mines, despite good platinum prices, are almost unprofitable.

Read it all.

Posted in * Christian Life / Church Life, * Economics, Politics, * International News & Commentary, Africa, Anthropology, Corporations/Corporate Life, Death / Burial / Funerals, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Parish Ministry, South Africa, Theology

U.S. Firms Move Abroad to Cut Taxes

More big U.S. companies are reincorporating abroad despite a 2004 federal law that sought to curb the practice. One big reason: Taxes.

Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Budget, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Law & Legal Issues, Politics in General, Taxes, The U.S. Government, Theology