Seth Godin, marketing guru and author, talks about the end of the industrial age, the «forever recession», and how you can join the race to the top, instead of settling for the bottom.
In the analysis below, Ron Griess of The Chart Store looks at all the longer secular markets; back to 1927 (love these charts!). The graph includes the cyclical markets found within those broader cycles. The Big Picture has more here.
For those interested in the long-term economic cycles; follow the annual meeting of the World Economic Forum in Davos, where authorities will discuss the scope and depth of this claim:
«For only the third time since the Industrial Revolution, the world may be entering a long-term growth cycle that will lift all economies simultaneously, driving bond yields and commodity prices higher.»
Story from Blomberg here.
click for a closer view
“Individualist culture attaches social status rewards to personal achievements and thus provides not only monetary incentives for innovation but also social status rewards.
The idea that culture is a central ingredient of economic development goes back to at least Max Weber who, in his classical work “The Protestant Ethic and the Spirit of Capitalism” (Weber 1905), argued that the protestant ethic of Calvinism was a very powerful force behind the development of capitalism in its early phases.
VoxEU.org provides new research in their latest article
“Does culture affect long-run growth?“ – and expose that
“both a theoretical model and empirical evidence showing that countries with a more individualist culture have more innovation, a higher level of total factor productivity and higher long-run growth than countries with a more collectivist culture.”
Figure 1. Individualism vs GDP per worker
Figure 2. Individualism vs patents per million
Tags: Business and Economy, Capitalism, Chats and Forums, Collectivism, Economic, Economic development, Economic History, Economics, Gross domestic product, Individualism, Industrial Revolution, Max Weber, Organizational culture, Social Sciences, Social status, Spirit of Capitalism, The Protestant Ethic and the Spirit of Capitalism, United States
- Chilean military tugboat rushing to Antarctica in bid to prevent ecological disaster after Chinese fishing ship catches fire
- 'River of oil': The tale of a ruptured Exxon pipeline that spilled thousands of barrels of crude in an Arkansas town
- Archeological dig beneath Bloomberg's future London headquarters reveals ancient Roman ruins dubbed 'Pompeii of the north'
- Watch the U.S. Navy use its ship mounted laser to blow aircraft out of the sky
- The Iron Lady You Don't Know: Thirteen Facts about Margaret Thatcher
- U.S. sends in $900M anti-missile radar array as North Korea vows to fire up nuclear reactor
- The Economist explains the decline in piracy: Armed guards, carried by more than 60 % of vessels, have been essential econ.st/15UAUZd 3 days ago
- Shipwrecked U.S Navy warship removed from reef huff.to/16bnaDK #Philippines #Asia #Ship 1 month ago
- Canadian warship seizes $100-million of heroin in 'massive' high seas bust natpo.st/16qdMy5 1 month ago
- From Hong Kong to Singapore by cargo ship. Mesmerizing bit.ly/YjqYmz #HongKong #Singapore #Asia 1 month ago
- Argentine Navy destroyer & Falklands Islands war veteran rolls over and sinks at the dock due to neglect. What a shame. wapo.st/YnUvN7 3 months ago
Photos by Maersk Line
- Fed's Varied Voices Leave Market GuessingBernanke said the Fed could start reducing bond buying "in the next few meetings" but warned against premature action, amid conflicting messages that roiled markets.
- Gap Is Starting to Look OverdressedAhead of the Tape: Profits never go out of fashion. Sadly, the same can't be said for the wares on display at Gap and its competitors.
- Ghana Looks to Join Bond BandwagonGhana hopes to become the latest African country to ride the wave of cheap borrowing with the sale of a new bond aimed at international markets for only the second time in its history.
- Copper Rises on Supply ConcernsCopper prices settled near six-week highs but pulled back from earlier peaks, as worries about the future of the Fed's monetary stimulus tempered suggestions of tighter supplies.