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Dr. David Hummels
Professor of Economics at Purdue University
Postdoctoral Research Fellow at Yale University’s Department of Economics
Dr.Jakob R. Munch
Asian Dynamics Initiative Professor of International Economics in the Department of Economics, University of Copenhagen
Associate Professor of Economics, and Director of Graduate Studies, at Economics Department, Purdue University
With stagnating wages and lingering unemployment, income inequality is back in the headlines. Is globalisation to blame for this inequality? Is more education a solution? This column argues that focusing on university education misses important effects. It presents evidence that wage effects vary markedly among those with degrees depending on their specific skill sets, and that globalisation can often benefit workers
Fuelled by concerns over rising income inequality, Occupy Wall Street has grown into a global movement in slightly over 2 months, with protests i over 900 cities worldwide. Protestors have been criticised for lacking a specific set of policy demands, but in this the protestors are hardly alone.
Continue reading Globalisation and higher education: Different degrees of success. (Offshoring, inequality, and the value of college degrees)
Mr. Richard Rush is a Vice President at PNC. He has over 24 years of financial services experience including serving as managing director at Wi Trust; divisional director at Alliance Bernstein; portfolio manager and director of research at Fox Asset Management; and national director of institutional consulting at Prudential Securities. Richard currently serves a Investment Advisor at PNC Wealth Management. He is an invited contributor at The Business Thinker, llc.
Leadership does change. Whether it’s in a car race, in a classroom or even in a country — whoever or whatever leads — eventually changes. That’s history.
In this context, it is easy to understand then, that changes or shifts occur in all things. By virtue of this certainty, and the ability to exploit that change, does it not warrant some important considerations in investing behaviors as well? For example, the premise that there aresignificant and sustained leadership changes in the stock market’s three primary equity capitalization groups called: Large, Medium and Small Capitalization stocks, is a given. That’s also history. Each capitalization group has led the market, and each has trailed the market, in sustained fashion but always in random rotation. Clearly, fertile territory exists within which to exploit this certain but random change. Continue reading Signaling Equity Performance Shifts by Size and Style
Research studies indicate that as much as 70% of a firm’s profitability is determined by industry / market factors, with the remaining 30% determined by the firm’s positioning.
The effective manager needs to understand and be able to use the latest strategy tools for analyzing industries, and be able to create strategies for sustainable advantage, and understand industry transformations.
Strategic management must include a broad set of strategic management issues, including:
- Ø Industry analysis and the forces that determine industry attractiveness;
- Ø Competitive positioning and the factors determining relative firm performance;
- Ø Industry transformation and strategic sustainability;
- Ø International strategy
Effective Managers must have the ability to develop, evaluate, and implement value-creating strategies for their business. They need to be exposed to the details that forces them to grapple with the real world tradeoffs, not just blackboard theories, and encourages them to work through strategic options.