The World is Flat: A Brief History of the Twenty-First Century Thomas L. Friedman Farrar, Straus and Giroux, 2005 Thomas Friedman is a widely-acclaimed journalist, foreign affairs columnist for the New York Times, and author of four best-selling books that include From Beirut to Jerusalem (1989). His eminence as a journalist is clearly demonstrated in the way he prepared for The World is Flat. He traveled throughout the world, interviewing in depth the political and business leaders who have the most direct, hands-on knowledge of the truly incredible developments occurring in the business structures and technology of globalization. Only a journalist who moves freely at the highest levels could interview the likes of Sir John Rose, the chief executive of Rolls-Royce; Nobuyuki Idei, the chairman of Sony; Richard Koo, the chief economist for the Nomura Research Institute; Bill Gates of Microsoft; Wee Theng Tan, the president of Intel China; David Baltimore, president of Caltech; Howard Schultz, founder and chairman of Starbucks; Nandan Nilekani, CEO of Infosys in Bangalore - and many others, each of whom gave him the inside story of how, specifically, the barriers of time and space separating economies, workforces, sources of capital, and technical abilities are crumbling. The result of this unfolding story, already far along but with much farther to go, according to Friedman, is that "the world is flat." With some notable exceptions in sub-Saharan Africa and the Islamic swathe, everything is connected with everything else on a horizontal basis, with distance and erstwhile time-lags no longer mattering. Friedman describes in detail the galloping globalization that has unfolded in even so limited a time as the past five years. Under the impetus of a worldwide network of interconnectivity, the world economy is much-changed from what it was at the turn of the century a mere half-decade ago. Friedman quotes the CEO of India's Infosys: "What happened over the last [few] years is that there was a massive investment in technology, especially in the bubble era, when hundreds of millions of dollars were invested in putting broadband connectivity around the world, undersea cables," while (Friedman paraphrases him) "computers became cheaper and dispersed all over the world, and there was an explosion of software - e-mail, search engines like Google, and proprietary software that can chop up any piece of work and send one part to Boston, one part to Bangalore, and one part to Beijing...." Microprocessors today have 410 million transistors compared to the 2800 they had in 1971. And now, "wireless is what will allow you to take everything that has been digitized, made virtual and personal, and do it from anywhere." The effect on productivity is revolutionary: "It now takes Boeing eleven days to build a 737, down from twenty-eight days just a few years ago. Boeing will build the next generation of planes in three days, because all the parts are computer-designed for assembly." The most strikingly informative aspect of this book, however, is not about technology. Most especially, Friedman explores the rapidly evolving global business systems, each constantly regenerating itself to keep ahead of the others. These are systems that span the continents seeking the lowest-cost providers of everything from expert scientific and engineering work to the lowliest grunt work. Friedman points out that India produces 70,000 accounting graduates each year - and that they are willing to start at $100 a month. It is no wonder that Boeing employs 800 Russian scientists and engineers for passenger-plane design when "a U.S. aeronautical engineer costs $120 per design hour, a Russian costs about one-third of that." Friedman describes a call center in India where outbound callers sell "everything from credit cards to phone minutes," while operators taking inbound calls do "everything from tracing lost luggage for U.S. and European airline passengers to solving computer problems for confused American consumers. …

The World Is Flat: A Brief History of the Twenty-First Century

Understanding the small business sector

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Replication data for: Why Are There Still So Many Jobs? The History and Future of Workplace Automation

The purpose of this paper is to offer extensive insight into the impacts of telecommuting on travel. A multiplicative model is proposed as a framework for examining the current knowledge in forecasting the demand for telecommuting and the impact results on transport. The paper analyzes the impact on transport and determines that due to counteracting forces, impact on travel will remain flat in the future even if telecommuting increases considerably.

A synthetic approach to estimating the impacts of telecommuting on travel. in: recent developments in transport economics

This paper aims to identify different growth patterns in the EU which led to the emergence of macroeconomic imbalances. It provides a detailed statistical picture of the evolution of various macroeconomic variables on the demand as well as on the supply side, before, in and after the financial and economic crisis of 2008/09. It investigates the causes and discusses various ’channels’ which led to macroeconomic imbalances by means of a descriptive analysis of the key determinants of macroeconomic developments, such as wage and price developments, productivity growth etc. Special emphasis is given to developments of the share of labour in national income, the real interest rate and the real exchange rate. The analysis of this data set provides a comprehensive picture of the underlying causes for the specific growth patterns as well as a first assessment of their role in the development of macroeconomic imbalances within the EU. It derives tentative conclusions as to how macroeconomic imbalances can arise in a monetary union and how they can be addressed properly by economic policy.

Macroeconomic Imbalances in the EU

This paper examines whether PageRank algorithms are a valid instrument for the analysis of technical progress in specific technological fields by means of patent citation data. It provides evidence for patent data in biotechnology. Recent literature has been critical with regard to the use of PageRank for the analysis of scientific citation networks. The results reported in this paper indicate, however, that with some minor adaptations and careful interpretation of the results the algorithm can be used to capture some important stylised facts of technical progress and the importance of single patents relatively well especially if compared to indicators based on direct inward citations only.

/pdf/using-pagerank-in-the-analysis-of-technological-progress-1yqdxcjpy8.pdf

Using PageRank in the analysis of technological progress through patents: an illustration for biotechnological inventions

https://www.wifo.ac.at/jart/prj3/wifo/resources/person_dokument/person_dokument.jart?publikationsid=47506&mime_type=application/pdf

Macroeconomic imbalances and structural change in the EMU

Macroeconomic imbalances in the EMU are at the heart of the current crisis. A widely popular explanation for the high current account deficits in the southern European countries is that they lack a large, competitive and export-oriented industrial sector. The paper tests the hypothesis that parts of the structural change which happened in the EU before 2008 were supported by the divergent unit labour cost developments in the EMU. We look into patterns of structural change and sectoral competitiveness in all EU member countries and assess their linkages by means of a descriptive analysis as well as through econometric estimations. Our results broadly support the hypothesis. Structural policies alone to foster new competitive export-oriented industries in southern Europe in order to reduce macroeconomic imbalances in the EMU would not be efficient without accompanying adjustments in relative labour costs.

Macroeconomic Imbalances and Structural Change in the EMU. WWWforEurope Working Paper No. 69

Fur die Analyse der Wettbewerbsfahigkeit Osterreichs im Warenhandel mit den USA vor dem Hintergrund des moglichen Abschlusses der "Transatlantischen Handels- und Investitionspartnerschaft" (TTIP) zwischen der EU und den USA wurde eine datengestutzte, qualitative Einschatzung der Integrationswirkung eines Freihandelsabkommens mit den USA in der osterreichischen Sachgutererzeugung vorgenommen. Besonderes Augenmerk wurde dabei auf die Wettbewerbsfahigkeit einzelner Branchen im bilateralen Handel mit den USA gelegt. Wie die in der Studie prasentierte umfassende empirische Evidenz zeigt, ware das Abkommen TTIP fur die osterreichische Sachgutererzeugung vorteilhaft. Der bilaterale Warenhandel mit den USA entwickelte sich bereits in den vergangenen 15 Jahren fur Osterreich sehr gunstig, wenngleich Schlusselbranchen infolge der jungsten Wirtschaftskrise an Wettbewerbsfahigkeit eingebust haben. Diese Entwicklung durfte anhalten und durch TTIP moglicherweise sogar beschleunigt werden. Freihandelsabkommen schwachen die strukturverhartende Wirkung lokaler externer Effekte ab und konnen sich damit positiv auf den Strukturwandel in der osterreichischen Sachgutererzeugung auswirken. Dieser zusatzliche (aber nicht sehr starke) Effekt von Freihandelsabkommen wurde in bisherigen Studien nicht festgestellt, konnte aber fur die osterreichische Sachgutererzeugung, fur die in der Vergangenheit wiederholt eine Strukturverhartung diagnostiziert wurde, bedeutend sein.

Eine Analyse der Wettbewerbsfähigkeit Österreichs im bilateralen Handel mit den USA (TTIP)

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