American private equity firms have expanded overseas, to the benefit of themselves and their hosts, says David Rubenstein. But that process will reverse, and America will have to be ready In less than two decades, private equity has grown from a small and local form of investment to a gigantic business with brand-name firms, possessing…
The insurance industry can help to protect communities like that of New Orleans, says James Schiro, but it needs stable laws to do so In the past 14 months, the world had to cope with natural catastrophes on an unprecedented scale. It began with the tsunami at the end of 2004, followed by floods in…
Creativity has been described as the ability to connect the seemingly unconnected. And, as we gather to look at what 2006 holds and to shape the global agenda, it is this ability that joins us in the common cause of trying to make sense of a rapidly-changing world. It is this creativity in pursuit of…
Manmohan Singh pledges to create an environment conducive to private enterprise so as to secure prosperity for all Indians Angus Madison, a Cambridge historian, has estimated that in 1700 India and China each had a share of world income of about 23%, about the same as Europe’s. By 1950, Europe’s had increased to around 30%,…
New technology is driving media convergence and a demand for accountability in advertising, says Martin Sorrell What a difference a few years make. The slump of 2001 and 2002 now seems, thankfully, a long time ago. The advertising markets stabilized in 2003, before a welcome return to growth in 2004. This revival was driven by…
All we need do to destroy the earth’s ecosystem is to continue what we are doing, says James Gustave Speth The past half-century of unprecedented economic expansion has wrought havoc on the environment. In response, environmental management has emerged as a new business that sets out to harmonize human activity with the natural world that…
The richest country in the world is living beyond its means, says Joseph Stiglitz. The question is not when, but how hard, the landing will be America has been borrowing abroad at the rate of $2 billion a day to pay for its huge trade deficit, with its imports vastly exceeding its exports. The richest…
We will soon be able to determine our children’s personalities, as well as their gender and health, says Gregory Stock. Indeed, it might be considered reckless not to When people ponder the challenges that technology will pose in the generations ahead, they typically think of global warming or globalization. Such issues, however, pale beside the…
While Japan’s reform and recovery are under way, says Heizo Takenaka, the minister responsible for privatizing the post office, plenty of challenges remain When I took office as a member of Junichiro Koizumi’s inaugural administration in 2001, the three letters NPL stood simply for “non-performing loans”. They now stand for Japan’s “new political landscape”. Democracy…
Whether he likes it or not, Ben Bernanke will be running the world’s central bank, says Edwin Truman. If he does it well, it will be good for America too On February 2, the Greenspan Federal Reserve will become the Bernanke Federal Reserve. It will be in good hands. The reason is not because Ben…
