The real wealth of nationsA new report comes up with a better way to size up wealth “WEALTH is not without its advantages,” John Kenneth Galbraith once wrote, “and the case to the contrary, although it has often been made, has never proved widely persuasive.” Despite the obvious advantages of wealth, nations do a poor job of keeping count of their own. They may boast about their abundant natural r
WOULD you rather have tomatoes that look good, or taste good? Most people, no doubt, would swear that they prefer taste to looks when it comes to buying fruit and vegetables. But that is not how they behave. Years of retailing experience have shown that what actually gets bought is what looks good. And, unfortunately, for tomatoes at least, that is not well correlated with taste. A uniformly red s
THE cult of the insider in Japan is rooted in its paddy fields, some scholars argue. To cultivate wet rice, villagers need to work together, sharing land, labour, water and gossip. Anyone not in the group is out of the loop. There is something of the rice paddy about Japan's capital markets, too. A string of insider-trading scandals in recent weeks suggests that restricted information has been flo
United workers of the worldUnbalanced skill levels could make the world more unequal THE working world was much cosier in 1980. Just 1.7 billion people were picking up a pay packet a generation ago, nearly half on farms. Globalisation has since upended labour markets. In 2010 the world counted 2.9 billion workers, with the emerging world responsible for most of the increase: it added 900m new non-
Where creators are welcomeAustralia, Canada and even Chile are more open than America MOST governments say they want to encourage entrepreneurs. Yet when foreigners with ideas come knocking, they slam doors in their faces. America, surprisingly, is one of the worst offenders. It has no specific visa for foreigners who wish to create new companies. It does offer a visa for investors, but the requir
Squeezing out the doctorThe role of physicians at the centre of health care is under pressure IN A windowless room on a quiet street in Framingham, outside Boston, Rob Goudswaard and his colleagues are trying to unpick the knottiest problem in health care: how to look after an ageing and thus sickening population efficiently. The walls are plastered with photographs of typical patients—here a man
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