By Thomas Cooley – A little over a year ago the Obama administration passed a staggering $787 billion stimulus package designed to rescue the economy. More than half of that money has now been spent, and the economy is still just creaking along. But now people are realizing that there is a dark side to this spending orgy. It has to end, and then we have to pay the bill. If we need any reminders that the day of reckoning is coming we have only to look to Europe.
What differentiates Europe from the U.S. is that market pressures are forcing them to confront their problems in a more timely way. The specter of sovereign debt default by Greece and the fiscal problems of Spain, Portugal, Ireland and the U.K. have had a sobering affect on their governments. more> http://tinyurl.com/36d7rxc
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By William A. Galston – When asked what the president and Congress should do to promote economic growth, typical response is a list of policies, often mixed with stylistic and political suggestions – neglecting institutions.
This neglect of institutions is always a mistake, never more than in times of crisis. Today’s polarized political system is an obstacle to reform in every area, including the economy.
The only cure for polarization is a shift of public sentiment back toward moderation. Here are two ideas to achieve this objective:
- Alter redistricting authority, so state legislatures can no longer practice gerrymandering.
Improving public investment
- Move politicians away from the red-meat politics of appealing only to their bases, which now dominate elections, and toward a more moderate and consensual politics.
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By Victoria Ho – “Mobile phone penetration separated the developed from developing nations in the past decade, abut broadband penetration would be the ‘decisive factor’ in the next”, said Hamadoun Toure, ITU Secretary-General, said in an address delivered during an Infocomm Development Authority (IDA) event.
“Very quickly, a broadband network roll out could pay for itself in innovation in sectors such as health and energy, for example.” more> http://tinyurl.com/27ggnqa
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By Adrian Croft – Britain’s new government said it would encourage the expansion of super fast broadband by allowing operators to use other companies’ infrastructure to roll out new fiber optic networks.
Culture Secretary Jeremy Hunt said that the biggest cost in rolling out new fiber optic networks was digging up the roads.
“Cut these costs and, straight away, investing in super fast broadband becomes a substantially more attractive proposition. That’s why I want companies to be able to take advantage of the infrastructure that already exists — the ducts and poles of telecoms companies, the sewers and other utility networks.” more> http://tinyurl.com/2fhqjun
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