The Populist Advantage | by Raghuram G. Rajan - Project Syndicate | The 'curse of 35': In China, millennials are already too old for some employers | CNN | 10 Successful Companies That Started During a Recession - StartUp Mindset

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Don't like ads? Go ad-free with TradeBriefs Premium The Populist Advantage | by Raghuram G. Rajan - Project Syndicate - Project Syndicate    Since the 2008 global financial crisis discredited the old liberal orthodoxy, the door has been open for simplistic policies, in part because most people tend to focus only on a policy’s first-order effects. Unfortunately, everyone will have to learn the hard way why such policies fell out of favor in the first place. CHICAGO – Even in the best of times, policymakers find it difficult to explain complex issues to the public. But when they have the public’s trust, the ordinary citizen will say, “I know broadly what you are trying to do, so you don’t need to explain every last detail to me.” This was the case in many advanced economies before the global financial crisis, when there was a broad consensus on the direction of economic policy. While the United States placed greater emphasis on deregulation, openness, and expanding trade, the European Union was more concerned with market integration. In general, though, the liberal (in the classical British sense) orthodoxy prevailed. The global financial crisis shattered both the prevailing consensus and the public’s trust. Clearly, the liberal orthodoxy had not worked for everyone in the US. Now-acceptable studies showed that middle-class manufacturing workers exposed to Chinese competition had been hit especially hard. “Obviously,” the accusation went, “the policymaking elites, whose friends and family were in protected service jobs, benefited from cheap imported goods and could not be trusted on trade.” In Europe, the free movement of goods, capital, services, and people within the single market were seen as serving the interests of the EU’s unelected bureaucrats in Brussels more than anyone else. Continued here You Might Like � � � � � � � � � The 'curse of 35': In China, millennials are already too old for some employers | CNN - CNN    When Han lost her job as an interface designer in Beijing in February, she figured her 10 years of experience meant she wouldn't need to look long for alternative work. But with the job hunt dragging on, she's beginning to worry. She's sent off hundreds of job applications - and been invited to only four interviews. Out of options in her chosen profession, she has turned to part-time jobs to make ends meet, working as a food delivery driver - where she was "lucky to earn 20 yuan ($2.8)" a day - and as a shopping guide, which she gave up after developing acute appendicitis, she says from standing too long. Continued here 10 Successful Companies That Started During a Recession - StartUp Mindset - StartUp Mindset    Starting a business during a recession is risky. Not only are you risking time and money, you have to fight economic conditions that are out of your control. The fear of being negatively impacted by a recession may cause many aspiring entrepreneurs to put off their plans to start a business. While this may be a wise decision for most, some potential business owners may benefit from starting a business during an economic decline. Recessions are hard on everyone. While some businesses thrive during a recession, many struggle to keep sales coming in and the doors open. There have been, however, a few businesses that not only thrived during past recessions but also went on to become among the most successful companies the world has ever seen. In this article, we will list some super successful companies that started in a recession. One major company you wouldn’t expect to have such humble origins is Microsoft. Founded by Bill Gates and Paul Allen during the oil embargo recession of 1975, Microsoft started as a small-scale computer software. However, their genius not only led to the development of a globally famous programming software but eventually also became the world’s third-largest company. Continued here

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