Courtesy of the Visual Capitalist are some, well, visuals about the location, net worth, and trajectory of the world’s 16 million or so millionaires
Let’s take a moment to appreciate the relatively under-reported fact that over the summer, China and India — nuclear-armed states with nearly 3 billion people and 4 million troops between them — mutually disengaged from a military standoff along their contested border that was quickly escalating towards war (as happened once before, in 1967). Although the underlying border dispute remains unresolved, it is encouraging to see a cooler-headed precedent prevail (a similar incident in the 1980s was also descalated by both countries).
For all the awful conflicts that have transpired just in our lifetimes, let alone throughout history, it is worth acknowledging and celebrating the conflicts that never happened. Fortunately, this is becoming a trend:
On this day in 1871, the largest mass lynching in U.S. history took place when around 500 white rioters entered Los Angeles’ Chinatown to attack, rob, and murder its residents. Almost every Chinese inhabitant was affected, and 17 to 20 Chinese immigrants (including children) were tortured and then hanged.
While the proximate cause was the accidental killing of a white man caught in the crossfire of two feuding Chinese gangs, racial discrimination against Chinese people was long-standing and visceral, and pogroms of this sort were not unusual. As the LA Weekly observed in its detailed (and grim) article on the massacre: Continue reading
On this day in 1945, the Charter of the United Nations came into effect, establishing the U.N. as the world’s premier international organization and setting forth, for the first time in history, an aspirational global standard for human rights, international cooperation, and global security — hence the observation of United Nations Day.
The United Nations emerged during the Second World War as the formal name for the Allies that opposed the Axis powers, although the idea of creating a new world organization — to replace the moribund League of Nations that was created after WWI — was conceptualized by the U.S. State Department in 1939. Continue reading
Nations, not unlike individuals, have much to gain from being in good standing with their peers. A country with a positive image, compelling ideology, or attractive culture is likelier to enjoy more influence on the global stage, whether its visa-free travel for its citizens, trade deals, or international support for its goals.
Thus, it is not surprising that the world’s leading powers — namely China, Russia, and the U.S. — care very much about how favorably they are viewed by the international community. (Indeed, even smaller and less globally ambitious nations like Denmark, Sweden, and Singapore benefit considerably from their image and status as a role model for things like political governance and economic development.)
According to the most recent global polling data from Pew, the United States — technically the world’s sole superpower (or hyperpower) — has maintained is long-standing lead in the international popularity contest.
Nevertheless, China in recent years has risen not only economically but in terms of global standing, even managing to unseat the U.S. in some traditionally pro-American places.
Meanwhile, Russia, a rising force in the globe once more, is also making gains in soft power, although it still lags far behind its larger peers. Continue reading
On this day in 1810, Colombia became one of the first countries in the Western Hemisphere to declare independence from a colonial power. Inspired both ideologically and strategically by the earlier American, Haitian, and French revolutions, a series of independence movements and rebellions erupted across the continent, with Colombia securing recognition in 1819 as “Gran Colombia”, a state that encompassed what is today Venezuela, Ecuador, Panama, and parts of Peru, Brazil, and Guyana. (Hence why the flags of Colombia, Venezuela, and Ecuador, which formed the core of the new country, are similar.)
It is safe to say that most people want greater well-being in their lives, but as with concepts like happiness or success, it is often loaded and subjective — albeit up to a point. Wealth is certainly a big factor, if not the biggest, but so are — generally speaking — civil rights, a healthy environment, personal safety, and social support.
Predicating well-being on these and other inputs, the Boston Consulting Group (BCG) conducted the “Sustainable Economic Development Assessment” (SEDA), which measures which countries in the world provide the most well-being to their inhabitants. The results were based on over 50,000 data points spanning three broad metrics and ten “dimensions of well-being”: economics (which includes income, economic stability, and employment); investment (health, education, and infrastructure) and sustainability (socioeconomic inequality, civil society, governance, and environment). Continue reading
Americans are considered exceptionally fond of guns; the United States has the highest rate of gun ownership — both generally and per capita — by a huge margin, and is one of only three countries in the world, along with Guatemala and Mexico, to enshrine a right to guns in its founding document (the latter two were directly inspired by the American example).
Iran hardly comes to mind when it comes to testing bold new ideas (never mind its various scientific and technological achievements in the face of sanctions and a reactionary theocracy). But since 2011, it has been testing and monitoring one of the most generous basic income schemes in the world, joining the likes of Canada, Finland, and the Netherlands (among others) in exploring the merits of an idea that has been gaining traction amid concerns about mass unemployment from advancing automation.
The program, which is ongoing, was launched during the tenure of President Mahmoud Ahmadinejad, himself hardly a progressive (to put it mildly). But it was ideal timing, as it followed cuts to subsidies for bread and fuel, which disproportionately impacted the poor. Participants received a monthly cash transfer equivalent to 29 percent of the country’s median household income — which would amount to over $16,300 a month in the U.S.! This is far more generous than the $1,000 or so monthly stipend that is typical in most basic income schemes. Even advocates of the idea might think it is far too much to sustain a productive population.
Despite reports in local press that the poor were forgoing their jobs to spend the extra money, the investigators found no such evidence.
“Our results do not indicate a negative labor supply effect for either hours worked or the probability of participation in market work, either for all workers or those in the bottom 40% of the income distribution,” they wrote.
They did find people in their twenties tended to work a bit less. But “this is not surprising since the attachment of Iranian youth to the labor market is weak,” they wrote, and many young people may have used the money to enroll in higher education they otherwise couldn’t afford.
In other cases, the extra money appeared to increase how much time people spent working. Service workers, such as housekeepers, teachers, and deliverymen, upped their weekly hours by roughly 36 minutes, “perhaps because some used transfers to expand their business.”
In other words, people were empowered to invest the money they received in ways that created greater values for themselves and, by extension, their loved ones and community. This comports with the results of the basic income experiments conducted in Canada and Namibia, as well as Brazil’s Bolsa Familia program, which is one of the few examples of a full-fledged cash-transfer scheme (although not quite a basic income, since it is conditional on children attending school and being vaccinated).
Unfortunately, Iran’s experiment also proved another common feature of the basic income idea: widespread negative attention and cynicism, in this case by both politicians and the general public. Across different societies and cultures, the idea of handing people money with no string attached strikes a visceral chord.
But given where automation and economic innovation are heading, it seems inevitable that mass unemployment — and the massive wealth imbalance that would follow — will need to be corrected. Not only would a guaranteed income provide for people’s basic needs, but as these pilot programs are thus far proving, they would empower individuals with the resources they need to unlock their own potential, whether it is freeing up time for socially valuable work (caregiving, volunteering, etc.) or investing in their own creative or commercial ventures.
What are your thoughts?
Although the United States remains the world’s sole superpower, this preeminent status is beginning to count for a lot less than it used to, as other nations — rivals and allies alike — begin to quickly catch up.
Our recent (though far from unprecedented) embrace of nationalism and populism is only hastening this relative decline, as Mark R. Kennedy argues in Foreign Policy. In a globalized world, even the greatest powers still need friends and allies, and our increasingly blustering attitude towards the rest of the world risks weakening the foreign ties on which we depend for economic and national security. Continue reading