Tag Archives: economy

Podcast #66: Brexit and Economic Blackmail

Theresa May should expect Brexit talks to fail, so says Fergane Azihari, a Young Voices advocate in France. Ferghane joins the podcast to talk about the economic outlook of the UK and EU if Brexit is completed, and why the EU is rooting for them to fail.

 

Fergane wrote about this in Eurasia Review 

Follow Ferghane on Twitter @AzihariF Young Voices @yvadv and Stephen Kent @stephen_kent89

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Silicon Valley is experimenting with a Universal Basic Income — and we should pay attention – SF EXAMINER

“We’re about to experience a change in our economy on the scale of the agricultural or industrial revolution,” announced Sam Altman, the president of Y-Combinator, to a San Francisco audience.

Due to artificial intelligence, 62 percent of American low-skill jobs are at risk. The median probability of automation replacing the lowest-paid jobs is about 0.83, while jobs in higher-wage classes have a 0.31 to 0.04 chance of being automated. According to a 2013 report from Oxford, 50 percent of jobs could be replaced within the next 10 to 20 years — a claim supported by a McKinsey report that suggests the technology we have today could replace 45 percent of jobs right now.

If Altman is right, and this economic shift can be equated to the industrial revolution, this change will be an overwhelmingly positive phenomenon for future generations. In the meantime, we’ll face mass technological unemployment. This is why Altman is exploring the Universal Basic Income as a way of alleviating a problem that he, in part, helped to create.

Continue reading at the San Francisco Examiner 

Nigeria: A missing President and a reeling nation

The most populous black nation in the world, Nigeria is witnessing a tense political and economic situation, along with internal mishaps. On the other hand, the President, Muhammadu Buhari, has been on a month’s long medical leave. In lieu of this, he has remained out of the country, in the United Kingdom since January 19, 2017. He was supposed to return back to work on the 6th February, 2017. However, in a written statement to the National Assembly, he informed the parliament of his desire to extend his leave in order to complete a pending series of tests recommended by his doctors.

The mysterious disappearance after brokering peace talks in the Gambia and a continued stay in the UK have led to deepening suspicions that his health is far worse than the reports claim. The 74-year- old former military dictator has been dogged by speculation about whether he was physically fit for office even before he took power in May 2015.

Continue reading at The Indian Economist.