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A structural transfer of liability and risk is reshaping industry engagement models, with outcome-based contracting increasing across service agreements. This shift is being driven by buyer demands for accountability in technology solutions, notably in artificial intelligence deployments, and is illustrated by recent unpublished but credible reports that OpenAI is quietly allowing select large enterprise customers to pay only when AI tasks are successfully completed. Supporting research from Gartner and CIO Dive highlights a growing disparity: while 19% of service buyers seek outcome-based payment models, only 13% of agreements from sellers currently accommodate them. The core development spotlighted is the disconnect between expectations for measurable AI-driven business outcomes and the lack of empirical evidence that such technologies are delivering on those promises at the organizational level. A large-scale survey by the National Bureau of Economic Research, encompassing nearly 6,000 senior executives across four countries, found that over 89% reported no observable improvement in employment or labor productivity from AI investments during the past three years, despite substantial organizational changes and budget reallocations. Additionally, research by Thomson Reuters found that 91% of 1,800 professionals reported their organizations were not realizing expected AI value, identifying a gap in demonstrable returns even while the technology is being deployed. Supporting data from Techaisle reveals partner capability thins dramatically as customers progress into advanced AI adoption stages. Most channel providers retain capacity only for basic "estate" work, with capability dropping to near zero for the most advanced client needs. Forrester has also identified persistent barriers to reliable measurement, such as fragmented and inconsistent data baselines, as well as dependencies on customer-side decisions. These factors magnify contract risk and reinforce the liability shift toward providers, who become responsible for defining, measuring, and underwriting outcomes without always possessing necessary levers or data. The operational implication for MSPs and IT service providers is heightened exposure to contractual and financial risk when agreeing to outcome-based terms, especially without mechanisms to price or control every relevant input. Providers are often unable to flow contract risk upstream to vendors or technology manufacturers, as their own agreements typically exclude outcomes. The episode concludes that early engagement and proactive definition of acceptable, controllable outcomes is essential, as outcome-based demands are likely to appear pre-baked in future client agreements, shifting bargaining power away from providers unprepared to quantify their exposure. Using data from their own worst-performing months, documenting client dependencies as contract conditions, and piloting outcome-based lines in otherwise standard agreements are outlined as practical tactics to mitigate downside risk before broader market adoption. 00:00 Four Numbers, One Cause 03:45 What You Ask For When You Can't Tell 06:45 Nobody Underneath You 10:20 Why Do We Care? Supported by: Guardz ScalePad

To earn the return on its investment, artificial intelligence will need to nearly triple productivity in the U.S. economy. So what will it do?Today on Second Request, Executive Editor Teddy Downey sits down with Jessica Wachter, the Dr. Bruce I. Jacobs Professor of Quantitative Finance at the Wharton School and a research associate at the National Bureau of Economic Research, to discuss her recent paper, "What Investment Data Implies About the AI Transition," co-authored with Jonathan Wachter.

In November 2022, Oregon voters narrowly passed a gun control measure that bans high-capacity gun magazines and requires safety training, completed background checks and permits for firearm purchases. Measure 114 awaits a decision by the Oregon Supreme Court and if it’s upheld, the soonest it could take effect is January 2028.   The prospect of gun control restrictions nonetheless fueled a sharp demand in gun purchases in Oregon leading up to and following the Measure 114 referendum. That’s according to a new study by researchers from Oregon State University, the University of Oregon and the National Bureau of Economic Research.    Using background checks as a proxy for firearm purchases, the researchers found that background checks spiked nearly 160% in the two months after the passage of Measure 114. The researchers said the measure led to 63,000 more background checks in Oregon between October 2022 and March 2024 than would have otherwise been expected during this time.    Katie Bollman, an assistant professor in economics at OSU, joins us for more details.  

China has ample room to introduce pro-consumption policies in the second half of the year, as consumer prices maintained a moderate overall increase in July, experts said.专家表示，由于7月居民消费价格总体保持温和上涨，中国在下半年推出促消费政策仍有充足空间。The country's consumer price index, a main gauge of inflation, rose 0.5 percent year-on-year last month, according to data released by the National Bureau of Statistics. The core CPI, which excludes food and energy prices, increased 0.9 percent year-on-year.国家统计局发布的数据显示，作为衡量通胀主要指标的居民消费价格指数（CPI）上月同比上涨0.5%。扣除食品和能源价格的核心CPI同比上涨0.9%。There is considerable room for pro-consumption policies in the second half of the year, and price factors in particular will not be a major constraint on the central bank's potential interest rate cuts, said Wang Qing, chief macroeconomic analyst at Orient Golden Credit Rating International.东方金诚国际信用评估有限公司首席宏观分析师王青表示，下半年促消费政策仍有较大空间，尤其是物价因素不会对央行可能的降息形成明显制约。Wen Bin, chief economist at China Minsheng Bank, said he expects pro-consumption policies to be stepped up in the second half of the year, with summer vacations and the National Day holiday boosting prices in tourism, accommodation and catering services.中国民生银行首席经济学家温彬预计，下半年促消费政策将加大力度，暑假和国庆假期将带动旅游、住宿和餐饮服务价格上涨。Data show that industrial consumer goods excluding energy rose 1.5 percent year-on-year in July, slowing by 0.2 percentage points from a month earlier, contributing about 0.37 percentage points to the CPI growth.数据显示，7月扣除能源的工业消费品价格同比上涨1.5%，涨幅较上月回落0.2个百分点，对CPI涨幅贡献约0.37个百分点。Service prices increased 0.7 percent year-on-year, down by 0.1 percentage points from June, contributing about 0.36 percentage points to the CPI growth. Food prices fell 1.5 percent year-on-year, narrowing the decline by 0.1 percentage points from the previous month, dragging the CPI down by about 0.25 percentage points.服务价格同比上涨0.7%，涨幅较6月回落0.1个百分点，对CPI涨幅贡献约0.36个百分点。食品价格同比下降1.5%，降幅较上月收窄0.1个百分点，拖累CPI下降约0.25个百分点。On a month-on-month basis, the CPI edged down 0.1 percent in July, with the decline narrowing by 0.2 percentage points from the previous month.环比来看，7月CPI小幅下降0.1%，降幅较上月收窄0.2个百分点。NBS attributed the monthly decline to international market price fluctuations, which drove down domestic gasoline prices by 10.7 percent month-on-month, with the decline widening by 5.8 percentage points from June, pulling the CPI down by about 0.35 percentage points.国家统计局将环比下降归因于国际市场价格波动，导致国内汽油价格环比下降10.7%，降幅较6月扩大5.8个百分点，拉低CPI约0.35个百分点。Food prices remained flat month-on-month, 0.6 percentage points below the seasonal average. Service prices, which were flat in June, turned to a 0.4 percent monthly increase, pushing up the CPI by about 0.21 percentage points.食品价格环比持平，较季节性平均水平低0.6个百分点。服务价格由6月的持平转为环比上涨0.4%，推升CPI约0.21个百分点。The Political Bureau of the Communist Party of China Central Committee recently held a meeting on economic work. At the meeting, it was stressed that macro policies should be strengthened and more effective, disbursement of fiscal funds and bonds proceeds should be accelerated, and solid progress should be made in promoting large-scale equipment renewals and trade-ins of consumer goods.中共中央政治局近日召开经济工作会议。会议强调，宏观政策要更加有力有效，加快财政资金和债券资金拨付使用进度，扎实推进大规模设备更新和消费品以旧换新。The meeting also underscored the need to effectively expand domestic demand, increase the supply of quality goods and services in response to the consumption needs of different groups, and tap the potential of services consumption.会议还强调，要有效扩大国内需求，针对不同群体消费需求增加优质商品和服务供给，挖掘服务消费潜力。Local authorities have stepped up efforts to optimize trade-in policies. The southwestern city of Chongqing, for instance, has expanded its subsidy categories for home appliances and smart home products, covering nearly all aspects of daily life. Hunan province in Central China added 10 new categories to its trade-in program, including smart service robots, smart door locks, smart air purifiers and smart toilets.各地政府也在加大优化以旧换新政策的力度。例如，西南城市重庆已扩大家电和智能家居产品的补贴范围，几乎覆盖日常生活的方方面面。中部省份湖南在消费品以旧换新计划中新增了10个品类，包括智能服务机器人、智能门锁、智能空气净化器和智能马桶。NBS data also show that China's producer price index, which measures costs for goods at the factory gate, went up 3.5 percent year-on-year in July.国家统计局数据还显示，衡量工业品出厂价格的工业生产者出厂价格指数（PPI）7月同比上涨3.5%。Wen said that China's price trend is expected to improve further as domestic demand potential continues to be released and a lower comparison base comes into play.温彬表示，随着国内需求潜力持续释放以及低基数效应显现，中国物价走势有望进一步改善。"Although the transmission of PPI recovery to CPI will entail a lag, the equipment renewal and trade-in policies will gradually lift prices of durable consumer goods such as home appliances and automobiles," Wen added.他补充说：“尽管PPI回升向CPI传导存在一定滞后，但设备更新和以旧换新政策将逐步推高家电和汽车等耐用消费品的价格。”core CPI /kɔːr siː piː aɪ/核心CPIconstraint /kənˈstreɪnt/制约因素interest rate cuts /ˈɪntrəst reɪt kʌts/降息industrial consumer goods /ɪnˈdʌstriəl kənˈsjuːmə ɡʊdz/工业消费品contributing /kənˈtrɪbjuːtɪŋ/贡献（拉动）dragging down /ˈdræɡɪŋ daʊn/拖累month-on-month /mʌnθ ɒn mʌnθ/环比edge down /edʒ daʊn/小幅下降

All Else Equal is taking a short break over the summer and will be revisiting some of our favorite conversations from last season. The show will be back with new episodes soon.  Whether it be in politics, public health, or corporate finance, why are people more likely to interpret facts or data in a way that fits their preconceived notions about the world as opposed to searching for the fundamental truth?   A new paper from the Harvard Business School called, Sharing Models to Interpret Data (by Joshua Schwartzstein and Adi Sunderam) studies the propensity for people to adopt interpretations to data based on their community's beliefs, and why this can lead to less accurate conclusions. Hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by the paper's co-author  Adi Sunderam, who is a professor of corporate finance at Harvard Business School, a research associate at the National Bureau of Economic Research, and a co-editor of the Journal of Finance.  The conversation covers the complexity of Bayesian updating and how the process is improperly deployed in today's thinking, not only in corporate decision-making but also on a sociological level. They also discuss Sunderam's model for explaining how people interpret data, why people are more likely to fall into group-belief dynamics, and if there are any interventions that would lead to better decision-making.   Read Adi Sunderam and Joshua Schwartzstein's paper:  Sharing Models to Interpret Data   Find All Else Equal on the web:   https://lauder.wharton.upenn.edu/allelse/   All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

New research out of the US indicates weight-loss drugs may help people get a job - and their New Zealand counterparts say this can't be ruled out here. The paper, published by the National Bureau of Economic Research, says women who were unemployed increased their likelihood of securing a job by 26.9 percentage points after a year-and-a-half of taking a GLP-1. AUT associate professor for planetary health, Julie Trafford, says this could also be linked to confidence, and there could be other factors besides the weight loss. "We haven't yet, in New Zealand, had the opportunity of Wegovy for long enough to be able to tell that story, because it was only approved by Medsafe for use in New Zealand about a year and a half ago - so unfortunately, we can't know for sure yet." LISTEN ABOVESee omnystudio.com/listener for privacy information.

America is on track to become a "net mortality society," where deaths outnumber births. As births plummet to almost 25% below replacement, the United States faces a future with a shrinking population, and the consequences extend far beyond the American family. Nicholas Eberstadt argues that falling birth rates reflect a deeper cultural shift away from marriage, family, and the institutions that have long sustained prosperous societies, raising difficult questions about economic growth, immigration, Social Security, and America's future. He examines the consequences of the men-without-work problem in the wake of the COVID pandemic, the role of AI in shaping immigrants' job opportunities, and how socialism's growing popularity in America affects the labor market. Combined with fertility rates collapsing across the developed world and loneliness reaching unprecedented levels, can America capitalize on our advantages in a way that China can't? Or are we bound to the same fate as other countries like Poland or Japan? Can public policy reverse these trends, or is this ultimately a crisis of meaning and norms rather than economics? Ultimately, what happens when societies stop replacing themselves...Nicholas Eberstadt holds the Henry Wendt Chair in Political Economy at the American Enterprise Institute (AEI), and is a senior adviser to the National Bureau of Asian Research. He has written numerous books and monographs, including His many books and monographs include Men Without Work: Post-Pandemic Edition (2022); Russia's Peacetime Demographic Crisis: Dimensions, Causes, Implications (2010). He has offered invited testimony before Congress on numerous occasions and has served as consultant or adviser for a variety of units in the US government. In 2020, he received the Irving Kristol Award, AEI's highest honor.Read the transcript here.Subscribe to our Substack here.

Gregor und Marcus glauben, ein heimliches Wirtschaftswunder-Gerät gefunden zu haben: die Klimaanlage. Ist kühle Luft womöglich ein uralter Business-Case und die Grundlage für den Erfolg ganzer Staaten?**********HörtippFacts & Feelings - Wie verlieren wir die Angst vorm Investieren?**********In dieser Folge:3:11 - Luft kühlen - früher und heute11:40 - Singapur - Wirtschaftlicher Aufstieg dank Klimaanlage?18:10 - Zu wenige Klimaanlagen in Deutschland?20:54 - Fazit / Wahres für Bares23:42 - Hörtipp: Facts & Feelings - Wie verlieren wir die Angst vorm Investieren?**********An dieser Folge waren beteiligt: Autoren: Gregor Lischka und Marcus Wolf  Faktencheck: Merle Körber und Kathrin Krautwasser  Produktion: Uwe Breunig  Redaktion: Michael Böddeker  **********Die Quellen zur Folge:Allianz Research / Allianz Trade. "Too Hot to Grow – The Economic Costs of Extreme Heat." Allianz Trade, 28. Mai 2026.  American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE). "A History of Comfort Cooling Using Ice." Atlanta: ASHRAE.Glaeser, Edward L., and Kristina Tobio. "The Rise of the Sunbelt." NBER Working Paper 2007-04. Cambridge, MA: Harvard University and National Bureau of Economic Research, 2007.International Energy Agency (IEA). The Future of Cooling: Opportunities for Energy-Efficient Air Conditioning. Paris: IEA, 2018. International Labour Organization. Report on Heat Stress and Labour Productivity, 2019. Cited in Sustainable Energy for All, "The Productivity Penalty of Failing to Deliver Sustainable Cooling". Alle Quellen findet ihr hier.**********Unsere Empfehlungen:CNA Insider: Why This Albanian Moved To Singapore To Fix Air Conditioners – Singapore Hour **********Weitere Beiträge zum Thema:Waschmaschine vs. Internet: Die Frage nach der wichtigsten Innovation der Wirtschaftsgeschichte**********Habt ihr auch manchmal einen WTF-Moment, wenn es um Wirtschaft und Finanzen geht? Wir freuen uns über eure Themenvorschläge und Feedback an whatthewirtschaft@deutschlandfunknova.de.**********Den Artikel zum Stück findet ihr hier.**********Ihr könnt uns auch auf diesen Kanälen folgen: TikTok und Instagram .

Sen brexit-omröstningen har ekonomin dalat och motsättningarna ökat. Vissa av de skräckscenarier som målades upp vid skilsmässan från EU har blivit verklighet. Andra har inte det. Vad måste Andy Burnham klara som hans föregångare misslyckats med? Lyssna på alla avsnitt i Sveriges Radios app. Världens sjätte största ekonomiI veckan fick landet en ny premiärminister igen. Andy Burnham blir den sjunde ledaren sedan britterna röstade fram brexit för tio år sedan. Han vill införa en ny ekonomisk och politisk modell som minskar klyftorna och får ekonomin att blomstra. “Låt det här bli tillfället när framtidshoppet väcks till liv igen”, säger han.Beskrivs som “mjuk vänster””Det finns en politisk kultur av stora ord och stora planer. Många andra har lovat det han lovar”, säger ekonomijournalisten Katrine Kielos.Framförallt ska hans nya regering fokusera på att hjälpa familjer som kämpar med höga kostnader. Och det är många som har det kämpigt, säger James Savage, ansvarig utgivare på The Local. ”Många britter känner sig fattiga”. Lägre tillväxt och lägre investeringar med brexitEnligt en studie från National Bureau of Economic Research är Storbritanniens BNP 6 till 8 procent mindre än den skulle ha varit om landet stannat kvar i EU. Samtidigt har invandringen ökat – tvärtemot vad som lovades inför omröstningen. ”Invandringsfrågan är fortfarande extremt splittrande och har flera bottnar”, säger James Savage.Relationen med Sverige”Storbritannien är fortfarande en viktigt handelspartner, men det är uppenbart att landet har minskat i betydelse för svensk export”, säger Per Altenberg, chefekonom på Kommerskollegium. ”Brexit är ett bra exempel på vad som händer om man vill sluta sig, istället för att handla globalt med varandra”, säger Scanias vd Christian Levin. Men han ser en ljusning i Storbritannien nu. ekonomiekotextra@sverigesradio.se

Erik Brynjolfsson has a challenge for anyone worried about artificial intelligence: Stop asking what AI will do to us, and start asking what we will do with AI. In this episode, the Stanford University economist explains why technology isn't the biggest barrier to progress — people, organizations, and institutions are. Drawing on new research into AI's impact on jobs, productivity, and economic growth, he argues that the future isn't predetermined: It will be shaped by the choices we make today. This is a timely conversation about human agency, shared prosperity, and why the most important AI breakthroughs may have less to do with technology than with how we use it. Read the episode transcript here. Guest bio: Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and senior fellow at the Stanford Institute for Human-Centered AI, and director of the Stanford Digital Economy Lab. He is also the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research, professor by courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a research associate at the National Bureau of Economic Research. A best-selling author, Brynjolfsson focuses his research on examining the effects of information technologies on business strategy, productivity and performance, digital commerce, and intangible assets. Me, Myself, and AI is a podcast produced by MIT Sloan Management Review and hosted by Sam Ransbotham. It is engineered by David Lishansky and produced by Allison Ryder. We encourage you to rate and review our show. Your comments may be used in Me, Myself, and AI materials.

China's surveyed urban unemployment rate fell to 5 percent in June, the lowest level this year, as the government's push for an "employment first" strategy showed early signs of progress, official data showed on Wednesday.官方数据周三显示，随着政府实施就业优先战略初见成效，6月份全国城镇调查失业率降至5%，为本年最低值。The rate eased 0.1 percentage point from May and extended its decline from a March peak of 5.4 percent, according to the National Bureau of Statistics.国家统计局数据显示，该数值较5月回落0.1个百分点，延续3月份5.4%峰值之后的下行态势。The first-half average stood at 5.2 percent, unchanged from a year earlier, leaving economists confident that Beijing will comfortably meet its annual target of about 5.5 percent.上半年城镇调查失业率均值为5.2%，与去年同期持平。经济学家认为，中国有望顺利实现全年5.5%左右的失业率调控目标。Together with other indicators, the first-half data "shows the economy is generally stable, with key indicators running within a reasonable range", NBS Deputy Head Mao Shengyong told a State Council Information Office news conference in Beijing.国家统计局副局长毛盛勇在北京国务院新闻办新闻发布会上表示，综合各项指标来看，上半年数据表明经济总体平稳，主要指标运行在合理区间。He said authorities would step up efforts to stabilize employment, businesses, markets and expectations while promoting higher-quality development and sustaining reasonable economic growth.他表示，相关部门将持续着力稳就业、稳企业、稳市场、稳预期，推动高质量发展，保持经济合理增长。The jobless rate rose from 5.2 percent in January to a March peak of 5.4 percent before declining for three consecutive months. Officials attributed the March increase to a seasonal postholiday surge in job-seeking by migrant workers.失业率从1月份5.2%升至3月份5.4%的高点，随后连续三个月回落。相关负责人表示，3月失业率走高源于节后农民工集中求职的季节性因素。In June, the unemployment rate was 5 percent for locally registered workers, 4.9 percent for workers registered outside their place of employment and 4.8 percent for rural migrant workers, the NBS said.国家统计局称，6月本地户籍劳动力失业率5%，外来户籍劳动力失业率4.9%，农民工失业率4.8%。The surveyed unemployment rate in 31 major cities also fell 0.1 percentage point from May to 5 percent. By the end of June, the number of rural migrant workers employed outside their hometowns reached 192.27 million, up 0.5 percent from a year earlier.31个大城市城镇调查失业率同样较5月下降0.1个百分点，至5%。截至6月末，外出农民工规模达1.9227亿人，同比增长0.5%。The decline in unemployment came amid a national push to build an "employment-friendly" development model, a concept highlighted in this year's Government Work Report. The approach places "stable employment" first among four key priorities, followed by stable businesses, markets and expectations.失业率回落的背景下，全国着力构建有利于就业的发展模式，这一理念在今年政府工作报告中重点提出。政策将“稳就业”列为四大重点工作之首，其次是稳企业、稳市场、稳预期。In June, the State Council, China's Cabinet, unveiled a plan to implement the "employment first" strategy during the 2026-30 period.今年6月，国务院印发方案，部署2026至2030年间实施就业优先战略相关工作。Last week, authorities released key employment targets for the period, including helping 25 million unemployed people return to work and assisting 6.5 million people facing employment difficulties in finding jobs.上周有关部门公布该阶段就业主要目标，包括帮扶2500万失业人员再就业，助力650万就业困难人员实现就业。The plan also calls for keeping the urban surveyed unemployment rate below 5.5 percent throughout the period and providing subsidized vocational training to more than 50 million people, including 17.5 million rural migrant workers.方案提出，在此期间城镇调查失业率控制在5.5%以内，面向超过5000万人开展补贴性职业技能培训，其中包含1750万农民工。"The latest jobless figures were in line with expectations and will significantly strengthen efforts to achieve the full-year employment target," Li Chang'an, a professor at the University of International Business and Economics' Academy of China Open Economy Studies, said in an interview with China Daily.对外经济贸易大学中国开放经济研究院教授李长安在接受《中国日报》采访时表示：“最新失业数据符合预期，将有力支撑全年就业目标完成。”Separately, the Ministry of Human Resources and Social Security's employment promotion department said in a statement on Wednesday that China created 62.42 million new urban jobs over the past five years, while the average surveyed urban unemployment rate remained at 5.2 percent.另据人力资源社会保障部就业促进司周三发布消息，过去五年我国城镇新增就业累计6242万人，城镇调查失业率均值维持在5.2%。The employed population reached 725 million in 2025, with urban workers accounting for 65.6 percent of the total and nonfarm employment making up 77.8 percent, reflecting a continued shift toward higher-productivity sectors.2025年我国就业人员总量达7.25亿人，城镇就业人员占比65.6%，非农就业占比77.8%，体现就业持续向更高生产率产业转移。unemployment /ˌʌnɪmˈplɔɪmənt/失业；失业率consecutive /kənˈsekjətɪv/连续不断的unveil /ʌnˈveɪl/公布，推出vocational /vəʊˈkeɪʃənl/职业的indicator /ˈɪndɪkeɪtə(r)/指标；标志productivity /ˌprɒdʌkˈtɪvəti/生产率，生产力

That Solo Life Episode 347: Why Senior PR Pros Should Focus on Development Not Decline Episode Summary Are you in the later stages of your Solo PR career?  Today's episode of That Solo Life is one of the most grounded, research-backed, and genuinely useful conversations the show has had about what it means to be a late-career practitioner in an AI-dominated landscape — and why the narrative telling experienced pros they're behind the curve is not only wrong, it's the exact opposite of what the evidence shows. Karen and Michelle walk through the real data on AI adoption, two peer-reviewed studies that directly challenge the 'experience is a liability' myth, a practical three-bucket framework for deciding what to ignore, what to adopt, and what to anchor, four mindset shifts for the final stretch, and three action items that can be done this week. The tone throughout is not inspirational poster energy. It's honest, warm, and built for practitioners who are genuinely tired and need a practical path forward, not another list of tools to chase.   Episode Highlights [00:25] The Opening Sentence That Names What Everyone Is Feeling: Michelle opens with what she calls 'a statement a lot of our listeners have either said out loud or are saying to themselves': she's five years from wrapping up her career, and she just doesn't have it in her to learn one more new tool. Karen doesn't argue. She validates it — and then reframes it. The feeling isn't laziness or fear. It's the cumulative weight of four or five complete technology revolutions inside a single career. [01:59] The Real Weight of Experience: Four Technology Revolutions in One Career: Karen lists what experienced PR pros have already navigated in a single career: typewriters to desktop publishing, fax machines to email, print media to social, and now AI. The question she frames for the rest of the episode: the real question isn't 'can I learn this?' — you've already proven you can, repeatedly. The question is how much of this do you actually need to learn, and how do you protect your energy for what matters most. [03:16] The Data on the AI Usage Gap — and What It Actually Means: Karen cites National Bureau of Economic Research data: AI tool usage at work is about 34% for workers under 40, and about 17% for workers 50 and up. That gap is real. But the research also shows it's not about ability — it's about confidence and on-ramps. Nobody handed experienced practitioners a clear 'start here' door. The industry is selling urgency, not discernment. And discernment is exactly what experience builds. [04:41] Busting the Myth: Experience Is Not a Liability in an AI World: The myth Karen and Michelle want to kill: that going further along in your career means you're slower, behind, and less valuable in an AI world. The counter-argument is research-backed. As AI makes production work cheaper, what becomes scarce and valuable is judgment — knowing what's worth doing, what's true, and what will land with a reporter versus blow up in a client's face. Karen's line: you cannot prompt your way to 30 years of pattern recognition. [05:51] Two Studies That Prove Experience Is an Advantage, Not a Liability: Karen cites two unexpected findings. A University of Mannheim study of BMW plant workers found productivity actually increased with age, right up to retirement — because veterans knew which problems were expensive and headed them off before they occurred. A North Carolina State study of software developers found that older programmers knew a wider range of topics, answered questions better, and in some cases were more adept with newer systems. The researcher's theory: if you're fluent in old technology, you understand new technology better because you know what problem it's solving. [09:48] The Three-Bucket Framework: Ignore, Adopt, Anchor: The practical core of the episode. Ignore: the platform of the month (if it's durable, it'll still be there in a year), tool maximalism (one capable AI assistant covers the overwhelming majority of actual work), becoming a technologist (fluency, not engineering), and anything you're only doing out of fear. Adopt: baseline AI fluency using one tool for real tasks, and understanding how audiences are now finding information through AI rather than clicking through to websites. Anchor: the things you don't age out of — judgment, relationships, trust built over decades, storytelling, strategy, and ethics. [15:30] Anchor: The Things You Don't Age Out Of: Karen's framing for the anchor bucket: as the tools get cheaper, your judgment gets more valuable. This includes knowing what not to publish, when to tell a client to stay quiet, and how to catch the AI-generated thing that is confidently, completely wrong. Michelle: that last one is becoming a job all in itself. Karen's reframe for the whole framework: the new tools handle the first draft. You handle the final judgment. That's not a demotion. That's the senior seat. You've earned the editor's chair. [16:33] Four Mindset Shifts for the Final Stretch: Development not decline — treat this stage as its own stage with its own strengths, not as a countdown. Curiosity over mastery — you don't have to be the best at the new thing, just conversant enough that you're never in a meeting where a term comes up and you have no idea what it means. Pick one tool and go deep — depth in one beats a panic attack across many. Partner, don't martyr — bring in a younger pro or a specialist for execution-heavy tasks; you bring the strategy and judgment, they bring the hands-on tooling. Everybody wins. [21:04] Legacy: The Mindset Piece That Reframes Everything: The fourth mindset shift is the one that hits differently: legacy. The mentoring, the coaching, the teaching, the writing — these are not the consolation prize of winding down. They are how your judgment keeps compounding and outlives your client roster. At this stage, the experience is the product. And that's exactly what the Solo PR Pro community is built around — a private, safe place to ask the questions you don't want to ask out loud in front of a client or prospect. [22:07] Three Action Items — Small Ones: Karen closes with three specific, this-week actions. Pick one AI assistant and use it for one real task — not a course, not a certification, just one task. Take your 'supposed to learn' list and run it through the three-bucket framework — cross out everything in the ignore column and watch the list get lighter. Have one conversation about partnering — find one execution-heavy thing you keep avoiding and find a person to delegate it to, not to learn it. Resources & Additional Information National Bureau of Economic Research: Workplace Adoption of Generative AI Oxford Academic: Work, Aging and Retirement late-career development mindset study Science Direct - Productivity and Age: Evidence from work teams at the assembly line Muck Rack: The State of AI in PR (2026, 2025) North Carolina State University: Older is Wiser Solo PR Pro membership community: soloprpro.com That Solo Life podcast website: thatsololife.com Host & Show Info That Solo Life is a podcast created for public relations, communication, and marketing professionals who work as independent and small practitioners. Hosted by Karen Swim, APR, President of Solo PR Pro, and Michelle Kane, Principal of Voice Matters, the show delivers expert insights, encouragement, and practical advice for solo PR pros navigating today's dynamic professional landscape. Listen to all episodes and catch up on previous conversations at thatsololife.com. Did this episode inspire you? If you found value in this conversation, please take a moment to leave us a review. Your feedback helps us reach more solo pros just like you! Don't forget to subscribe so you never miss an episode.

The Senate impeachment trial of Vice President Sara Duterte officially opened this week with testimony from the National Bureau of Investigation, alongside the high-profile arrest and hospitalisation of Senator Rodante Marcoleta. - Umarangkada na ngayong linggo ang impeachment trial ni Bise Presidente Sara Duterte sa Senado kung saan sumalang sa matinding pagtatanong ang testigo ng NBI, habang naospital naman si Senador Rodante Marcoleta matapos arestuhin sa kasong plunder.

Business and finance news from the Asia-Pacific. The US military struck Iran for the second straight day, an escalation of violence that threatens to strain an already fragile ceasefire. The attacks came just hours after President Donald Trump at the NATO summit in Turkey said the US would probably target Iran again. The US launched attacks on Tuesday and revoked a waiver allowing new sales of Iranian oil in response to attacks on ships in the Strait of Hormuz that the administration blamed on the Islamic Republic. Oil extended its gains. We spoke to Stephen Stapczynski, Bloomberg's Asia Energy Team Leader. Plus - China's consumer prices rose slower than expected and factory inflation showed signs of peaking, after a pullback in commodity costs with an easing of tensions over Iran last month. The consumer-price index decelerated to 1% in June from a year earlier, compared with a gain of 1.2% in the previous month, according to data released by the National Bureau of Statistics on Thursday. The median estimate in a Bloomberg survey of economists was 1.1%. Producer inflation accelerated slightly to 4.1% from a year ago, matching forecasts. On a month-on-month basis, factory prices declined 0.3% from May, their first drop since July 2025. Bloomberg TV hosts Haidi Stroud-Watts and Avril Hong spoke to Robin Xing, Chief China Economist at Morgan Stanley. See omnystudio.com/listener for privacy information.

China cannot sell as much as it used to in the United States. That trade has to go somewhere, and somewhere might be Europe.In this week's VoxTalk, Tim Phillips asks Pol Antràs (Harvard) and Beata Javorcik (EBRD, Oxford) what this means for European producers and consumers.Antràs and Andrea Presbitero have mapped which countries and sectors face the sharpest competition from redirected Chinese exports, and which stand to gain. Does cheap Chinese tech ease Europe's energy cost crisis, or squeeze European manufacturers of wind turbines and electric cars?If Europe decides to take the gains where consumers and firms can get them, and compensate the producers who are legitimately hurt, how do they go about it? And can raising tariffs in a world of global value chains protecting one sector without damaging others?New episode, recorded at the PSE-CEPR Policy Forum 2026 in Paris.The research behind this episode:Antràs, Pol, and Andrea F. Presbitero. 2026. "The Remains of the Trade: The U.S.-China Trade War and its Aftermath." Preliminary versionTo cite this episode:Phillips, Tim, Pol Antràs, and Beata Javorcik. 2026. "Europe in the Middle." VoxTalks Economics (podcast). About the guests:Pol Antras is Robert G. Ory Professor of Economics at Harvard University, a Research Associate at the National Bureau of Economic Research, and a Research Affiliate at the Centre for Economic Policy Research. His research spans global value chains, the organisation of multinational firms, and, most recently, the intersection of trade policy and geopolitics.Beata Javorcik is Chief Economist of the European Bank for Reconstruction and Development, on leave from her position as Professor of Economics at the University of Oxford and Fellow of All Souls College. She is Director of the International Trade Programme at the Centre for Economic Policy Research. Her research spans foreign direct investment, industrial policy, and, increasingly, the economics of geopolitical fragmentation.Research cited in this episode:The Great Reallocation is the term coined by Laura Alfaro and Davin Chor for the reorganisation of United States sourcing away from direct imports from China and toward alternative suppliers such as Vietnam, Mexico, and Taiwan. Antrà s and Presbitero's paper extends this idea to third countries, showing that Chinese exports displaced from the American market are increasingly landing in Europe and Asia rather than disappearing.Geopolitical externality is a concept developed by Laura Alfaro, Maggie Chen, and Beata Javorcik in their working paper "The Battle over Knowledge: Multinationals, Diffusion, and Governance." It describes how knowledge transferred abroad by multinational firms can strengthen a rival state's strategic capability in ways the firm never intended and the market never prices, which is why governments increasingly restrict flows of codified, tacit, and organisational knowledge that would once have passed unremarked.Voluntary export restraints were the mechanism used to defuse the United States' trade conflict with Japanese carmakers in the 1980s. Rather than imposing tariffs, Japan agreed to limit its car exports, and Japanese manufacturers responded by building plants directly in the United States. Javorcik cites this as the precedent for how the current standoff over Chinese electric vehicles and knowledge transfer might eventually be resolved.The Draghi report on European competitiveness, published by the European Commission in September 2024, recommended conditioning Chinese investment in the European electric vehicle sector on mandatory knowledge transfer. Javorcik notes the difficulty of calibrating such requirements: demand too little and Europe gains nothing from the technology; demand too much and Chinese investors have no reason to come at all."Industrial Policies for Multi-stage Production: The Battle for Battery-powered Vehicles," by Keith Head, Thierry Mayer, Marc Melitz, and Chenying Yang, models how tariffs and subsidies reshape the location of battery and vehicle assembly plants across a multi-stage supply chain. Antrà s cites the paper's finding that protecting the electric vehicle sector through tariffs can produce worse outcomes than the problem it was meant to solve.Export controls and innovation, discussed by Javorcik with reference to Chinese firms such as DeepSeek and Huawei, illustrate a pattern in which restricting a country's access to a technology, in this case advanced semiconductors, can accelerate that country's innovation in adjacent areas rather than simply constraining it. She draws a parallel with rare earth export restrictions, which have historically spurred substitute technologies rather than suppressing them.More VoxTalks Economics episodes:In a conversation recorded at the CEPR Annual Forum in Paris called "What should Europe do about Trump?" Tim Phillips spoke to Beatrice Weder di Mauro and Ugo Panizza of the Graduate Institute Geneva, about how Europe should respond to the second Trump administration's trade policies.Listeners interested in how firms navigate geopolitical trade disruption should also hear "Trading around geopolitics," in which Giancarlo Corsetti, Banu Demir, and Beata Javorcik discuss how Turkish exporters filled the gap left by sanctions on Russia.Related reading on VoxEU:"An update on the great reallocation in US supply chain trade" uses detailed United States import data through 2025 to track the scope and pace of the reallocation discussed in this episode."From tariffs to trade flows: Diversion effects and China's exports to the EU" examines the evidence for and against the trade deflection story that Antras and Javorcik discuss, and finds the picture more mixed than a simple diversion narrative suggests."China shock 2.0 and the euro area: Cheaper imports, tougher competition" decomposes the recent surge in Chinese exports to the euro area and argues that structural forces within China, rather than diversion from the American market, explain most of it."The impact of trade wars on firms in third countries" proposes a model of how bilateral trade shocks spill over to bystander economies, applying it to Italian firms during the 2018 to 2019 trade war.

Business and finance news from the Asia-Pacific. The yen slid to its weakest level against the dollar since 1986, a milestone that will generate unease in Japan and put traders on high alert for authorities wading into the market. The currency depreciated 0.2% to touch 161.98 versus the greenback in New York trading overnight, breaching the 161.95 mark touched in July 2024 during an earlier campaign by Japan to shore up the exchange rate. The last time the yen traded at this level it was barreling in the opposite direction, midway through a massive and years-long rally that followed a currency accord engineered by the US. The world was a different place — Japan's asset bubble was still forming, the Soviet Union was cleaning up after the Chernobyl nuclear disaster and Top Gun had just launched Tom Cruise toward the pinnacle of Hollywood stardom. We speak to David Finnerty, Bloomberg's FX and Rates Strategist. Plus - China's factory activity improved more than expected in June, as booming exports offset cooling growth in the domestic economy.The official manufacturing purchasing managers' index climbed to 50.3, versus 50 in May, the National Bureau of Statistics said Tuesday. The median estimate of economists surveyed by Bloomberg was 50.1. The non-manufacturing measure of activity in construction and services unexpectedly rose to 50.2 from 50.1 last month. Bloomberg's Yvonne Man and Avril Hong spoke to Helen Qiao, Chief Economist for Greater China at Bank of America Global Research.See omnystudio.com/listener for privacy information.

Vous aimez notre peau de caste ? Soutenez-nous ! https://www.lenouvelespritpublic.fr/abonnementUne émission de Philippe Meyer, enregistrée au studio l'Arrière-boutique le 26 juin 2026.Avec cette semaine :Antoine Foucher, président de la société de conseil Quintet, spécialiste des questions sociales.Lucile Schmid, présidente de La Fabrique écologique et membre du comité de rédaction de la revue Esprit.Lionel Zinsou, ancien Premier ministre du Bénin et président de la fondation Terra Nova.LA CANICULE, SUJET POLITIQUE ?Le 17 juin, quelques jours avant le nouvel épisode caniculaire, le ministre de la Ville et du Logement, Vincent Jeanbrun, a présenté un plan « endurance » pour l'adaptation à la hausse des températures, alors qu'un tiers des logements est constitué de bouilloires thermiques. Selon lui, « la canicule n'est pas une question météorologique ou climatique, c'est désormais une question de justice sociale ». Intervenant aux côtés du ministre du Logement, la ministre de la Transition écologique, Monique Barbut a reconnu que la France souffre d'un « grand retard collectif » tout mettant en avant trois axes : « Remettre la nature dans les villes pour les rafraîchir » et faire des quartiers prioritaires « des précurseurs de la transformation écologique des territoires » ; « encourager les solutions efficaces pour limiter la surchauffe des bâtiments », comme les volets, en demandant par exemple aux bailleurs sociaux un recensement des bâtiments sans occultation des baies vitrées ; et développer « des solutions performantes pour permettre le rafraîchissement des bâtiments » avec « d'ici à septembre » un tarif réduit de TVA à 5,5 % pour les climatiseurs réversibles, décidé en loi de finances 2026.« Aucune annonce réelle », a cinglé la Fondation pour le logement des défavorisés (ex-fondation Abbé Pierre) qui a annoncé qu'elle s'associait à un recours en justice, lancé en 2025 par des citoyens et les ONG de « L'affaire du siècle » qui accusent l'Etat de manquer à son obligation de protéger la population des impacts du réchauffement climatique. Associations et climatologues déplorent une politique qui met l'accent sur la gestion de crise plutôt que sur une véritable adaptation. Pourtant, en 2023, pour faire face aux canicules répétées, la France s'était dotée d'un plan d'adaptation, une feuille de route censée préparer le pays à un réchauffement de 4 °C d'ici à 2.100, avec une batterie de mesures sur les logements, les exploitations agricoles ou les transports afin de se préparer à une hausse des températures de 4 °C en 2.100. Jugé insuffisant, y compris par le Haut Conseil pour le climat, le plan dispose de peu de moyens financiers. Au cours de ces dernières années, des outils pour s'adapter au changement climatique comme le fonds vert ont été fortement rabotés dans un contexte budgétaire contraint : la dotation de ce dispositif très prisé des élus locaux est passée de 2,4 milliards d'euros en 2024 à près de 840 millions d'euros en 2026.LE BREXIT 10 ANS APRÈSÀ la veille du dixième anniversaire du vote en faveur du Brexit, le premier ministre britannique travailliste, Keir Starmer, a été contraint à la démission, deux ans à peine après une nette victoire électorale. Si la décision prise, le 23 juin 2016, par une majorité (51,9 %) des électeurs britanniques de quitter l'Union européenne n'est pas directement la cause de la disgrâce de M. Starmer, elle a contribué à créer un climat économique et politique dégradé.Les études sur l'impact du Brexit sur l'économie vont toutes dans le même sens. Celle publiée en novembre 2025 par le National Bureau of Economic Research, un groupe de réflexion américain, a estimé « qu'à la date de 2025, le processus du Brexit a réduit le PIB britannique de 6 % à 8 %, l'investissement de 12 % à 18 %, l'emploi de 3 % à 4 % et la productivité de 3 % à 4 % ». D'après un récent sondage du think tank European Council on Foreign Relations, les Britanniques estiment que le Brexit a eu un impact négatif sur presque tous les sujets : le coût de la vie (66 %), l'économie (65 %), les perspectives des jeunes (57 %) ou encore l'immigration clandestine (56 %). Interrogés sur les effets positifs du Brexit, la réponse la plus donnée par les Britanniques est : « je ne sais pas ».Dans ce contexte, les termes de « Breturn » ou « Breunion » ont surgi ces dernières semaines. Une majorité de Britanniques (55 %) se déclarent favorables à un retour de leur pays parmi les membres de l'UE, quand un tiers (34 %) s'y opposent, d'après YouGov. Toutefois, les Britanniques favorables à un retour du Royaume-Uni dans l'UE tomberaint à 35 % si le pays ne pouvait plus bénéficier de ses dérogations antérieures et devait donc adopter la monnaie unique et participer à l'espace Schengen. Un retour à l'Europe des 28 ne semble donc pas se dessiner. Bruxelles et Londres avancent plutôt depuis plusieurs mois vers un rapprochement. Un sommet entre les deux parties doit avoir lieu le 22 juillet prochain dans la capitale européenne. Ce serait le deuxième après un précédent tenu en mai 2025. Reste à savoir si ce rendez-vous, annoncé la semaine dernière, sera maintenu à la suite de la démission de Keir Starmer. Andy Burnham, nouvel élu de la région de Manchester et favori pour le remplacer à la tête du Parti travailliste et du même coup à Downing Street, ne cache pas qu'il considère le Brexit comme une erreur sans prôner un retour dans l'Union.Le flou entretenu par les brexiters concernant le régime qui suivrait la sortie de l'UE a été pour beaucoup dans le chaos de l'après-23 juin, et notamment la succession rapide de six premiers ministres en moins d'une décennie. Surtout, le Brexit a ouvert un boulevard à une extrême droite contre laquelle on avait imaginé le Royaume-Uni vacciné. La figure de proue en est Nigel Farage – chef, avant le référendum de 2016, du Parti pour l'indépendance du Royaume-Uni, et aujourd'hui de Reform UK, parti actuellement en tête des sondages britanniques.Chaque semaine, Philippe Meyer anime une conversation d'analyse politique, argumentée et courtoise, sur des thèmes nationaux et internationaux liés à l'actualité. Pour en savoir plus : www.lenouvelespritpublic.frHébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

China's jobless rate for its youngest workers fell to 15.6 percent in May, the lowest level in 11 months, official data showed on Monday, ahead of a record wave of college graduates entering the job market.6月22日公布的官方数据显示，5月份中国16至24岁青年劳动力失业率降至15.6%，为11个月以来的最低水平。这一数据发布之际，新一轮创纪录的高校毕业生即将进入就业市场。The unemployment rate for the 16-to-24 age group, excluding students, dropped 0.7 percentage points from 16.3 percent in April, according to the National Bureau of Statistics.据国家统计局数据，16至24岁青年劳动力（不含在校生）失业率较4月份的16.3%下降了0.7个百分点。The rate had peaked at 18.9 percent in August — the highest since China revised its survey methodology in December 2023 — before declining steadily between September and February.该失业率在去年8月曾达到18.9%的峰值——这是自2023年12月中国调整调查方法以来的最高水平，随后在去年9月至今年2月期间持续回落。It ticked up again in March before resuming its downward trajectory in April and May.3月份该数据再度小幅回升，随后在4月和5月重新进入下行通道。The improvement was broad-based across age groups. The unemployment rate for the 25-to-29 age group cohort fell to 7.2 percent in May from 7.4 percent in April, the lowest in three months, while the rate for the 30-to-59 age group edged down to 4.1 percent from 4.2 percent, a four-month low.失业率的改善在不同年龄段具有普遍性。25至29岁年龄组失业率从4月份的7.4%降至5月份的7.2%，为三个月来最低；30至59岁年龄组失业率则从4.2%微降至4.1%，创四个月新低。The overall urban survey unemployment rate stood at 5.1 percent, down 0.1 percentage point from April.全国城镇调查失业率为5.1%，较4月份下降0.1个百分点。Li Chang'an, a professor at the University of International Business and Economics' Academy of China Open Economy Studies, attributed the improvement to stable macroeconomic fundamentals and the continued strengthening of pro-employment policies, particularly those targeting young people.对外经济贸易大学中国开放经济研究院教授李长安将失业率的改善归因于宏观经济基本面的稳定以及稳就业政策的持续发力，尤其是针对青年群体的就业支持政策。"The employment first policy, I should say, has played a very positive role," he said.“应该说，就业优先政策发挥了非常积极的作用，”他说。China has made job creation a top priority. Earlier this month, the State Council, China's Cabinet, unveiled a plan to place an "employment first" strategy into action over the 15th Five-Year Plan (2026-30) period. The blueprint seeks to stabilize overall employment while better aligning what students learn in school with what employers actually need.中国始终将就业置于优先位置。本月初，国务院发布了在“十五五”规划期间（2026—2030年）全面实施就业优先战略的行动方案。该方案旨在稳定整体就业的同时，更好地实现学校教育与市场需求之间的衔接。For young people — especially the record number of college graduates this year — the plan aims to broaden job and career pathways. Steps include building a national big data platform to match talent with job openings, and revamping university curricula to better serve emerging industries.针对青年群体——尤其是今年创纪录的高校毕业生——该计划旨在拓宽就业与职业发展通道。具体措施包括建设全国性大数据平台，实现人才与岗位的精准匹配，以及调整高校课程设置，更好对接新兴产业需求。Other programs feature skills training for 1 million young workers in advanced manufacturing and modern services, as well as a million apprenticeships in technology, technical, and management fields.其他项目包括为100万青年劳动者提供先进制造业和现代服务业技能培训，以及在科技、技术和管理领域设立100万个学徒岗位。Despite the decline in youth joblessness, the 15.6 percent youth unemployment rate remains more than double the 7.2 percent rate for the 25-to-29 group and nearly four times the 4.1 percent rate for the 30-to-59 group, underscoring persistent structural imbalances in the labor market.尽管青年失业率有所下降，但15.6%的青年失业率仍为25至29岁年龄组（7.2%）的两倍以上，且接近30至59岁年龄组（4.1%）的四倍，凸显出劳动力市场中持续存在的结构性失衡问题。Li said the elevated youth unemployment rate is a mix of a chronic oversupply of college graduates and a persistent disconnect between what young people learn and what employers need — particularly as adoption of artificial intelligence accelerates demand for highly skilled workers while education and vocational training fall behind.李长安表示，青年失业率居高不下，既是高校毕业生长期供给过剩的结果，也反映了青年所学与企业所需之间的持续脱节——尤其是在人工智能快速普及加速了对高技能人才的需求之际，教育与职业培训明显滞后。The data comes as China prepares for a record 12.7 million college graduates this year, up 480,000 from 2025, according to the Ministry of Education. The influx is expected to keep pressure on youth employment in the coming months.据教育部数据，今年中国高校毕业生人数将达到创纪录的1270万人，较2025年增加48万人。预计这一增量将在未来几个月内继续对青年就业形成压力。Li warned that youth employment pressure will persist over the next decade as graduate numbers continue to climb, though he added that the central government's sustained employment first policies should help keep the situation on track.李长安警示称，随着毕业生人数持续攀升，未来十年青年就业压力仍将持续。但他同时表示，中央政府持续实施的就业优先政策应有助于保持总体局势稳定。"With employment pressure remaining intense this year, it is essential to keep pushing the employment first strategy and policy support — that is the bedrock for lasting stability in youth jobs," Li said.“今年就业压力依然较大，必须持续推动就业优先战略和政策支持——这是实现青年就业长期稳定的基石，”李长安说。

It's Thursday, June 11th, A.D. 2026. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark Nigerian court sentences Muslims to death for executing Catholics Last week, a court in the African nation of Nigeria sentenced four Muslim men to death for killing dozens of Catholics. Four years ago, the gunmen attacked a Pentecost Sunday service at a Catholic Church in southwest Nigeria. They killed 41 people, including children. Authorities determined that the armed men belonged to Al-Shabaab, an Islamic terrorist group. The massacre was the first terrorist attack on a church in southern Nigeria.   According to Open Doors, Nigeria is the seventh most dangerous country worldwide for Christians. Proverbs 7:14 and 16 says, “Behold, the wicked man conceives evil . . . His mischief returns upon his own head, and on his own skull his violence descends.” Sudanese man arrested in Ireland for attempted beheading Authorities in Northern Ireland arrested a migrant from the African nation of Sudan on Tuesday. Police in Belfast accused him of carrying out a severe knife attack on a man in his 40s. People across the United Kingdom responded to the attempted beheading with protests. The victim was hospitalized with significant injuries to his face, neck, and back. Many U.K. citizens question their government's immigration policies, including Member of Parliament Rupert Lowe. In February, the lawmaker launched a national political party called Restore Britain. The party is devoted to ending mass immigration and also openly recognizes Britain's Christian heritage.  Congress funds $70 billion for ICE and Border Patrol In the United States, President Donald Trump signed the Secure America Act yesterday. The $70 billion package fully funds the Department of Homeland Security. The bill specifically covers U.S. Immigration and Customs Enforcement and U.S. Customs and Border Protection for the rest of President Trump's second term.  Listen to comments from House Speaker Mike Johnson after Congress passed the bill. JOHNSON: “The historic mandate that put President Trump in the White House and Republican majorities in both the House and the Senate is evidence of the fact that Democrats' ‘Defund the Police' agenda is wildly out of step with hardworking American families. After four long years of Democrat policies that opened the door to dangerous criminals and deadly drugs, Republicans are delivering on our promise to restore safe streets and secure our borders.” Inflation rose 4.3% Inflation reached a three-year high last month for American consumers.  The cost of goods and services rose 4.2 percent in May compared to a year ago. Rising energy costs drove the inflation. Gasoline prices were up 40 percent from a year earlier.    iPhone launch connected to lower U.S. fertility rate A new study from the National Bureau of Economic Research suggests that the launch of the iPhone contributed to declining fertility rates in the U.S. Apple introduced the iPhone in 2007. The U.S. general fertility rate has fallen by 22 percent since then. People have been spending more time on their smartphones and less time with each other.  The study noted, “Overall, the diffusion of the iPhone explains 33–52% of the decline in the general fertility rate among women aged 15–44.” Southern Baptists: Only men can serve as pastors The Southern Baptist Convention affirmed its position yesterday that only men can serve as pastors. Over 70 percent of the denomination's representatives voted in favor of the “Truth and Unity Amendment.” The measure was sponsored by Albert Mohler Jr., the president of the Southern Baptist Theological Seminary. The amendment would require churches in the denomination to not appoint women as pastors, elders, or overseers.  Listen to comments from Dr. Mohler. MOHLER: “This motion makes very clear that we affirm the historic Baptist understanding of the pastor, elder, overseer. The structure of the language I have brought goes all the way back to the 1689 Baptist Confession, where the office and function of the pastor are clearly delineated. “This amendment makes very clear that a church, in friendly cooperation with the Southern Baptist Convention, doesn't have anyone other than a man as pastor in the office of pastor and specifies on the functions of the pastor that the key central function of preaching the Word of God to the gathered assembly is limited to men by Scripture.” 1 Timothy 3:1-2 says, “If anyone aspires to the office of overseer, he desires a noble task. Therefore, an overseer must be above reproach, the husband of one wife, sober-minded, self-controlled, respectable, hospitable, able to teach.”  Animated movie “David” claims #1 spot on Netflix And finally, the animated film David reached the number one spot on Netflix for movies in the United States over the weekend.  The Bible movie from Angel Studios officially premiered on the streaming service just last Wednesday. (audio from David movie trailer) DAVID: “I'm just a shepherd, but deep down I know I can take on the world.” NARRATOR: “There is a darkness over the land.” SAMUEL:  “Our enemies will strike once more.” MAN: “Imagine the biggest warrior you have ever seen!” DAVID: “Okay.” MAN: “Now imagine somebody ate him.” GIRL: “Remember when I told you God had big plans for you?” GOLIATH: “You will serve us!” GIRL: “They may have been bigger than even I thought.” Christian music artist Phil Wickham voiced the adult David in the movie. Wickham told Crosswalk Headlines the film is “full of the story of God and full of Psalms and full of hallelujah and faith and hope.  … I think this movie will last decades. I think it will be something our grandkids watch.” Close And that's The Worldview on this Thursday, June 11th, in the year of our Lord 2026. Subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com.  Plus, you can get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

The birth rate in the U.S. has dropped by an astonishing 22% since 2007. Are smartphones to blame?Yes, according to a groundbreaking new study by Middlebury economist Caitlin Myers. Her smartphone study is garnering national attention this week, confirming an idea that people have long speculated about but until now have lacked data. Myers and co-author Ezekiel Hooper showed that from 2007 to 2011, after the iPhone was introduced, there was a sharp decline in births, up to half of which can be attributed to the smartphone. They say that smartphones have led to “reducing in-person interactions, increasing pornography use, and reducing sexual frequency.”Myers says a declining birth rate is not necessarily bad, but that there are “many aspects of it that really concern me, aspects that relate to economic growth and supporting older generations, but also questions of what does this mean for humans.”“Everybody's just doom scrolling on their phone alone and isolated and not forming relationships.” Myers is the John G. McCullough Professor of Economics at Middlebury College and a research associate at the National Bureau of Economic Research. She is well known for her research into the effects of abortion policy on people's lives. She has testified in the U.S. Senate about the economic consequences of the 2022 Dobbs decision ending the constitutional right to abortion, and she spearheaded the amicus brief in the Dobbs case that was signed by over 150 economists, highlighting the negative impact of limiting abortion access. Myers also runs a national database of abortion providers.Myers said the Dobbs decision has resulted in about 30,000 additional births “concentrated among people who are younger, have less education and have really limited financial resources.”“The post-Dobbs era is an inequality story,” she told me. “There are parts of the country like ours where the Dobbs decision almost paradoxically expanded abortion access” due to increased availability of telehealth and medication by mail.But in states like Texas, Louisiana and West Virginia that have enacted near-total abortion bans, only 80% to 85% of people who want an abortion are getting one. That leaves up to one-fifth of people who want an abortion “trapped. They aren't finding the means, the information, the resources, the safety and security to travel long distances or to order pills through the mail, and they're giving birth as a result.”Myers grew up in rural West Virginia and Georgia. She empathizes with those who don't think like her. “As a Southerner it breaks my heart when I hear people dismiss the people I grew up with, the places I'm from, the beliefs that they have.”“We all know it's not just about dismissing far-away Southerners. There are divides within our own state.”Myers wonders “whether we could potentially bridge these divides rather than saying, ‘Yeah, I just don't think this is going to work out,' like we're never going to agree.” She wants to do her “tiny little part to create a world where we give each other more grace.”

For many people, the FDA-approved drug class called GLP-1s has been a game changer for managing type 2 diabetes and weight loss. An estimated one in eight US adults is using this type of drug, which mimics a natural gut hormone to regulate blood sugar, slow stomach emptying, and suppress appetite. Researchers and the public have been scrutinizing the pros and cons of taking these drugs for many years. One critical question that remains is does the use of GLP-1s translate into lower medical expenses for consumers, healthcare providers, insurance companies, and the government? Today, we're speaking with Duke University health economist Jonathan Zhang on the answer to these questions from his multi-year study of veterans who use GLP-1s. The results are surprising. Interview Summary Jonathan, first, let's talk broadly. Would you briefly describe the kinds of health benefits people are experiencing with GLP-1s, particularly in terms of changes in behavior and overall health? Yes. So GLP-1s are medications that manage body weight and improve metabolic health. The primary health benefits are via better blood sugar regulation and weight loss via reducing appetite. But there's larger health benefits that are much broader. So, trials have also shown that they lower blood pressure, reduce strokes and heart attacks, among other cardiovascular benefits. Overall also improves, so things like obstructive sleep apnea, improvements in inflammation-related measures. And recently it was FDA approved to treat MASH, which is a form of fatty liver disease. Finally, people also report feeling less hungry. They get full faster, fewer cravings, and reduction in what is often called food noise, which can potentially help people make a range of better behavior decisions and changes relating to food and perhaps even beyond food. However, the evidence on that seems to be promising, but new and less strong. Thank you for sharing those. I know a lot of our listeners have heard some of those issues and some of those points about how GLP-1s could change the way we behave, and some of the health outcomes. So, let's dig into your particular study. In your working paper for the National Bureau of Economic Research (NBER) you and your co-authors describe a natural experiment involving patients and doctors in the Department of Veteran Affairs, and their access to and use of GLP-1s. Would you lay out the general parameters of your study for our listeners? Yes, absolutely. So, like many medications, what we know about GLP-1s primarily comes from randomized controlled trials, which have small sample sizes and often select for quite sick patients. As GLP-1s reach a broader population, the population becomes less pro-comparable to those in trials, so the real-world impacts become less obvious. Moreover, there are some outcomes such as healthcare utilization or spending costs that are incredibly important for policy but not directly studied in trials. We were interested in studying in a very large healthcare system, that is the VA, the Veterans Health Administration, the real-world impacts of GLP-1s using readily collected data from the healthcare system and a quasi-experiment. So that is we try to emulate a real experiment where some patients get GLP-1s from their primary care doctor and others do not. And the reason one patient might get it while the other doesn't is because their doctors differ in their likelihood or propensity to prescribe these drugs. And we focus on the Veterans Health Administration, the VHA, because the veteran population is quite diverse, at least in terms of comorbidities relative to the trials per se and also in age, say, compared to Medicare. And GLP-1s are provided in the VA to eligible patients at a pretty affordable cost. So, sort of a nice policy playground for us to think about what outcomes might look like when GLP-1s become readily available and affordable to all Americans. Great. Thank you for sharing that because now we have a good sense of the quasi experiment that you all were able to exploit. That there were providers who had a high tendency to prescribe GLP-1s versus those who didn't. And looking at that difference, you were able to see how GLP-1s may have affected the outcomes that you were interested in. So now tell us a bit about the findings, and I think there's some surprising results here. So, first we replicate many of the findings from the randomized trials for this diverse, veteran population. We see reductions in body weight, we see hemoglobin A1C blood glucose levels improve and blood pressure improvements as well. Even a reduction in heart attacks and strokes for patients with existing cardiovascular conditions, and even a small reduction in moderate drinking risk as well. The trial evidence seems to hold up in this large and diverse population of we have 1.4 million patients that we're studying. Second, despite these improvements though, we do not see a reduction in healthcare spending. This is actually excluding the cost of the medication, the GLP-1. It's not because GLP-1s are expensive. We're taking that out of the equation. Over four years, this is how long we're able to track these patients for, we're able to rule out reductions of more than 7% in healthcare spending. And we see no reductions in whether that's outpatient clinic or in inpatient hospitalization. We also don't see any reductions in emergency department visits more generally, despite seeing a reduction in heart attack and strokes for those patients with existing cardiovascular condition. Jonathan, that sounds great, but it's a little hard to understand. So why is it that you're seeing no real changes in the consumer healthcare spending? What's going on? Yes, we were a little surprised as well. We think there could be a myriad of potential reasons. But first, I want to note that there's also at least three other studies that use real-world data to look at a similar question, and all the studies find no statistically significant spending reductions. And in fact, all of us, we all find a slight positive increase. I think the first explanation is that while heart attacks and strokes are very expensive and obviously, very serious events, they are still thankfully quite rare and thus are not very common in our three to five-year period in which these studies are looking at. But perhaps over ten or twenty years, you could start seeing some healthcare spending materialize. I think that's totally possible. Most cost projection models, whether that's from the CBO or other organizations, they project healthcare spending reductions to accumulate over time. But these models also project immediate spending reduction, which is not yet supported by the data. Another potential explanation is what I would call these behavioral responses. So, you can imagine that a patient sees some improvement in their health, and that changes their expectation of, "Oh, wow, I could actually make some changes to my health." And they actually go and get some more care. This can also be driven by the physician as well. So, sort of, "Look, things are working. This patient's seeing improvements. Maybe we should treat some of your other health problems and issues." This is what I would call sort of a behavioral response. A third explanation could be that some of these patients have conditions that have progressed to be irreversible even with metabolic health gains. So, for example, late-stage kidney disease would be a good example. We find some suggestive evidence that this might be happening in our study. In other words, for these patients where they have some potentially irreversible health conditions, the metabolic health improvements - that's not a primary reason for their healthcare spending. This is helpful. That explains why we're seeing some of these challenges with healthcare spending. And I appreciate your point of taking a longer view may actually reveal some differences. And also, the responses of doctors and patients to the benefits that they gain and how that might expand opportunities for healthcare. So, thank you for sharing that. I want to shift focus a little bit. And it is taking a step beyond the paper, but I think it's a natural extension of the work. As you know, I'm an agricultural economist, and I've been interested in obviously food policy issues. And the fact that we're seeing weight loss, the fact that we're seeing better management of A1C suggests that there's something probably happening with food consumption and food patterns. I'd be interested to learn from you if you have any ideas about what this work suggests about the impact of GLP-1s on consumer food choices. Yes, I think there's a fair amount of both trial and real-world grocery purchase evidence that GLP-1s are impacting consumer food choices. In the randomized trials, GLP-1s reduce, calories consumed, reduce the desire to eat sweet, salty, and savory foods and high fat fast foods in their meals. For example, these trials will look at what people eat for lunch. In real world data, there's a study out of Denmark that found that after patients' first GLP-1 prescription, their grocery store purchases went on to have fewer calories, sugars, saturated fats, carbohydrates, and more protein over the one-year period after they initiate GLP-1s. The share of ultra-processed foods also decreased. The effects were actually quite modest, so there was only about a one percent reduction in calories and a four percent reduction in sugar and a five percent increase in protein in the year after versus the year before in this Danish study. In the US, there's a similar study using kind of this transactional level data as well. And they find that households after they start GLP-1s also reduce caloric intake, fast food consumption, caloric dense processed foods. And there it's a little larger in the US by about five to ten percent. Then the question is, you know, are they shifting towards healthier foods or is it sort of a uniform reduction in calories across all different food classes? And there the evidence is a little less strong. There's some evidence that consumers are shifting towards healthier foods, but if that is the case, the shift is quite small. In both the Danish and the US study, it's roughly looking like a level shift for all different categories. And this is also in terms of not food so much anymore, but there's also been studies looking at alcohol consumption, which has been very interesting and promising. There's a phase two study pilot trial with only forty-eight participants, but the randomized control trial found that among patients with existing alcohol use disorder GLP-1s led to a reduction in the average number of drinks per day. No change in the number of days drinking, but conditional on drinking, the average number of drinks per day declines in the treatment group that get GLP-1s. And then for out of the 48 patients that are also smokers, there's also a reduction in smoking as well in that population. So, very promising early evidence there as well. Jonathan, this is critical information, and I know some colleagues in the Ag econ profession, folks like Brian Roe, Tim Richards and Glenn Townsend have also worked in this space, and some of the work is showing some issues around the quality of protein or overall food spend is going down. And the choices or the responsiveness of people to prices when it comes to proteins. There's some evidence, some causal evidence to suggest GLP-1s are changing the way people are even looking at food markets. And so that raises a really important issue. If consumers are changing when they're exposed to GLP-1s, I have got to imagine that the food industry, grocery stores, food manufacturers, restaurants are making some adjustments. What have you to say on that particular point? So, we're both economists, right? We both, of course, believe that producers and grocery stores are adjusting to demand. We do know a lot less about how the supply side is adjusting compared to the demand, and that's because there's just less data and fewer studies on patients. There's more data and more studies on patients and consumers than on grocery stores and restaurants. I've seen a lot of anecdotal evidence, often reported in the mainstream media or reports from various market research agencies that GLP-1s are having this large impact on the food industry. I've seen claims like GLP-1s are hurting Walmart sales or why are beer company sales down, like AB InBev, and range into things like why restaurants are reducing their portions or recently I actually also saw over the past couple weekends claims of why Coachella portions are smaller because everyone's on GLP-1s. So, the best estimates from last year are that one in eight Americans are using GLP-1s. And if each of these users are cutting back in consumption by 5% to 10%, as in those studies, it's totally plausible this leads to a large population reduction that the food industry just cannot ignore, right? I think it's important to note a couple things. First is that the long-term adherence of GLP-1s is generally quite low, with more than 50% discontinuing within a year in most of the studies I've seen in the US. And after discontinuation, most of these patients will gain back a large fraction of their weight. And in that US groceries transactional study I told you about, they find that after discontinuation, purchases at fast food, grocery, restaurants, et cetera, they go up beyond baseline, in fact. So, beyond six months prior to when they were on GLP-1s. It's still an open question to whether these 5% to 10% individual consumption reductions will become long-term and manifest in the population level, especially if adherence is not very high. Second is that up until very recently, there's been a very strong demographic and socioeconomic profile of these GLP-1 users, right? So, they tend to skew near elderly and also a little bit more female, and generally fall in the middle- or higher-income brackets because previously Medicaid, for example, did not cover GLP-1s, right? Until earlier this year. And it still does not cover it for many states. So, any food industry changes will likely be concentrated in the restaurants and the food chains that sort of have these consumer demographic and economic base. That's something to keep in mind. Certainly, there are examples like, you know, Smoothie King has introduced a GLP-1 smoothie. But even in these clear-cut cases where the producer is clearly trying to appeal to this demand shock, it's still very difficult to disentangle the producer's stated intent from general industry market trends, right? So, general trends like rising cost of living. There's been more demand for protein. You can see protein in everything now, right? Even water. Rise in sort of small plates or family-style tapas at restaurants. Feels like every restaurant's doing this now. Or for example, a decline in alcohol consumption or interest in alcohol consumption, especially among young people around the world. I think some of this is certainly happening. Producers are listening, but it's hard to disentangle the general trends from a specific GLP-1 impact. I'm grateful for you taking some of the hype out of this and thinking through carefully what the economic implications are of this change and recognizing that there's some real important context that people don't stay on these drugs for long. Or there are certain types of folks who are more likely to use them, and therefore we can't assume that there's this massive wave of change that's going to happen, but that there are some responses. These are important ways of framing this discussion. I have one final question. Based on what you're seeing now with the use of GLP-1s and considering their use over time, what would you say is the key takeaway for policymakers? I think there are a few takeaways. Most importantly, I think policy makers should think about the rapid change in profile of patients who are using this drug. Just because it's beneficial for sick patients doesn't necessarily mean it's going to be equally as beneficial for patients who are less sick. One of the findings in our paper is that as the veteran population that starts to initiate GLP-1s in the more recent years, these patients actually are healthier, so their treatment effects are not quite as strong as those who were initiated in the very early period who in our setting were among the sicker veterans. Policy makers shouldn't extrapolate the potential benefits to a broader population since there's so much demand for this drug, right? This also means that some of the downstream improvements like cost savings or even improved labor outcomes like absenteeism or being able to return to work, while these things might seem logical, it's not fair to assume that it's going to be automatic, especially at a population level. Related to that last point, we should encourage additional research on important socioeconomic outcome that might completely change the calculus of the cost benefit of these drugs, right? So, labor force participation, earnings, use of government transfer programs like disability insurance, even some interesting patterns of household formation and fertility. These are all fascinating and important questions. However, it is imperative to note that GLP-1s already have incredible health benefits for many people. While it's possible that these benefits might spill over to broader societal benefits, these benefits should not be presumed. And at the same time, we shouldn't be holding GLP-1s to a higher standard, say, to reduce healthcare spending or increase earnings just because we know that it does a bunch of wonderful things for a range of conditions. So, maybe it does this and this as well, and suddenly we're less excited if there's no evidence of that and that, right? These things have incredible health benefits. Let's appreciate them for that, and we shouldn't be holding them up to a higher standard just because it appears to do so many wonderful things. BIO Jonathan Zhang is a health economist at the Sanford School of Public Policy at Duke University and the Margolis Institute for Health Policy. He is a Faculty Research Fellow at the National Bureau of Economic Research and an evaluator at the Department of Veterans Affairs. He researches how policy can improve mental health and substance use outcomes using quasi-experimental methods.

For decades, marketers have debated one question:How much frequency is enough?But what if the industry has been arguing about two completely different things the entire time?In Part 2 of this Sharp Cut series, Marc Binkley and Vassilis Douros revisit the reach vs frequency debate after a wave of listener feedback challenged, refined, and strengthened the original episode. What emerges is a far more nuanced framework built around one critical distinction: burst frequency vs drip frequency.Drawing on work from Byron Sharp, Les Binet, Hermann Ebbinghaus, Stu Carr, Dale Harrison, Paul Hindle, and real-world incrementality testing from industry practitioners, this episode breaks down:Why frequency is not one thingThe difference between burst and drip frequencyHow memory actually works in advertisingWhy brands quietly lose effectiveness when they go darkThe hidden risks of streaming frequency capsWhy low frequency can appear more effective than it really isThe three real jobs of frequency: building, refreshing, and activatingWhy impressions and average frequency often mislead marketersHow last-click attribution continues to distort decision makingThe planning mistakes quietly wasting media budgets todayThis episode reframes one of marketing's oldest debates through the lens of memory, incrementality, and effectiveness.Because the real question was never reach versus frequency.It was burst versus drip.Chapters00:00 - Introduction to Comfort Blankets in Advertising03:40 - Understanding Memory in Advertising08:05 - Building and Refreshing Memory Structures10:08 - The Impact of Streaming on Frequency13:50 - The Three Jobs of Advertising20:38 - Measurement Challenges in AdvertisingOriginal LinkedIn Post: https://www.linkedin.com/feed/update/urn:li:activity:7453434962604691457/Special thanks to all those who inspired this follow-up episode:Stu Carr, Dale Harrison, Paul Hindle and Dennis A.ResourcesBinet, L. (2024, January 17). How advertising REALLY works [Video]. YouTube. https://www.youtube.com/watch?v=B9EDJs3evCIBinet, L., & Davis, W. (2025, October). Go big or go home [Conference presentation]. IPA Effectiveness Conference, London, UK. https://ipa.co.uk/news/go-big-or-go-homeBinkley, M. (2025, August 7). 4Ps - Promotion: Why your customers say ads don't work on me. WARC. https://www.warc.com/en/article/4ps---promotionCarr, S. (2026, February 2). Why a frequency of 1 works, and why it isn't nearly enough. Mi3. https://www.mi-3.com.au/02-02-2026/why-frequency-1-works-and-why-it-isnt-nearly-enoughEbbinghaus, H. (1885). Uber das Gedachtnis: Untersuchungen zur experimentellen Psychologie. Duncker & Humblot.Gordon, B. R., Moakler, R., & Zettelmeyer, F. (2026). Predictive incrementality by experimentation (PIE) for ad measurement (NBER Working Paper). National Bureau of Economic Research.Harrison, D. W. (2022, November). Ad reach and frequency are not independent variables [LinkedIn post]. LinkedIn. https://www.linkedin.com/posts/dale-w-harrisonKlepek, M. (2025). Duplication of purchase and double jeopardy in social media markets [Working paper]. Silesian University of Technology.Krugman, H. E. (1972). Why three exposures may be enough. Journal of Advertising Research, 12(6), 11-14.Ritson, M. (2023, October 16). Consumers don't get tired of ads, only marketers do. Marketing Week. https://www.marketingweek.com/consumers-tired-ads-marketers/Sharp, B. (2010, September 4). Frequency and frequency: Something to watch out for [Blog post]. Marketing Science. https://byronsharp.wordpress.com/2010/09/04/frequency-and-frequency-something-to-watch-out-for/Sharp, B., Romaniuk, J., & Kennedy, E. (Eds.). (2021). Marketing: Theory, evidence, practice (3rd ed.). Oxford University Press.Taylor, J., Kennedy, R., & Sharp, B. (2009). Is once really enough? Making generalizations about advertising's convex sales response function. Journal of Advertising Research, 49(2), 198-200.Thomaz, F. (2024, October 15). Reach sufficiency and the missing dimension [Conference presentation]. SXSW Sydney, Sydney, Australia. Reported in Mi3. https://www.mi-3.com.au/15-10-2024/really-mediocre-outcomes

Expulser davantage de travailleurs immigrés pour créer plus d'emplois pour les Américains? C'est l'argument défendu par Donald Trump. Mais selon une étude du National Bureau of Economic Research, le durcissement des contrôles de l'U.S. Immigration and Customs Enforcement (ICE) ne produit pas de gain net pour les travailleurs nés aux États-Unis et pourrait même fragiliser l'économie américaine. C'est une idée avancée, martelée même, par Donald Trump. Expulser davantage de travailleurs immigrés, notamment sans papiers, permettrait de libérer des emplois pour les travailleurs nationaux. Mais selon la dernière étude du National Bureau of Economic Research, ce raisonnement ne se vérifie pas dans les faits. La méthode employée par les chercheuses est simple : comparer les zones fortement touchées par les arrestations de l'ICE aux zones moins concernées, avant et après le durcissement des contrôles. Premier constat, dans les zones où l'ICE intervient davantage, les travailleurs immigrés les plus exposés travaillent moins. L'emploi recule de 4 %. Mais le plus frappant est ailleurs. Cette baisse ne s'explique pas uniquement par les expulsions. De nombreux travailleurs immigrés restent sur le territoire américain, mais réduisent leur activité ou cessent de travailler, par peur. Peur d'être contrôlés sur le chemin du travail, peur d'être arrêtés directement sur leur lieu d'activité. La politique migratoire produit ici un effet psychologique qui devient, par ricochet, un phénomène économique. À lire aussiÉtats-Unis: la politique migratoire de Donald Trump provoque un choc démographique et économique Le mythe du « job replacement » ne résiste pas aux faits Autre enseignement majeur de cette étude : les travailleurs nés aux États-Unis ne récupèrent pas ces emplois. L'argument du job replacement, selon lequel lorsqu'un immigré quitte son poste, un travailleur américain prend naturellement sa place, apparaît faux. Pour comprendre pourquoi, il faut regarder de plus près le fonctionnement du marché du travail. La vision politique suppose que travailleurs immigrés et travailleurs natifs sont interchangeables. Or, dans la réalité économique, ils sont souvent complémentaires. Prenons l'exemple d'un chantier de construction. Un ouvrier sans papiers effectue fréquemment les tâches physiques les plus pénibles, tandis qu'un salarié américain supervise, coordonne ou gère la logistique. Si le premier disparaît, le second ne récupère pas automatiquement un emploi supplémentaire. Au contraire, le chantier ralentit, certains projets sont retardés, voire annulés. Pourquoi les travailleurs américains peu qualifiés ne prennent-ils pas ces postes ? Parce que beaucoup de ces emplois restent peu attractifs : physiquement éprouvants, parfois dangereux, souvent saisonniers, avec des horaires irréguliers et des salaires jugés insuffisants. Dans l'agriculture, la construction ou certaines activités industrielles, les employeurs peinent déjà à recruter, même lorsque le chômage progresse. À lire aussiPourquoi l'immigration va déterminer le sort de l'économie américaine sous Donald Trump Moins d'activité, plus de tensions économiques Autre surprise, les entreprises ne réagissent pas forcément en augmentant les salaires pour attirer davantage de travailleurs locaux. L'étude montre au contraire que les rémunérations n'augmentent pas significativement. Face à la pénurie de main-d'œuvre, beaucoup d'employeurs font un autre choix : ils réduisent leur activité. Ils acceptent moins de commandes, ralentissent leur production et repoussent certains investissements. C'est ce que les économistes appellent un choc d'offre négatif, ou lorsque moins de travailleurs disponibles signifie moins de production, avec un risque de hausse des prix à long terme. Autrement dit, une politique pensée pour protéger le marché du travail pourrait, paradoxalement, contribuer à le fragiliser. Les effets dépassent même le seul marché de l'emploi. Dans le Minnesota, une autre étude évoque plus de 600 millions de dollars de consommation perdue en un mois, signe que la peur des contrôles réduit aussi les dépenses des ménages immigrés. Cela rappelle autre chose d'essentiel dans l'économie américaine. Certains secteurs sont structurellement dépendants de la main-d'œuvre immigrée, y compris irrégulière. Elle fait partie intégrante du fonctionnement de l'économie américaine. Et comme pour une tour en briques de bois, lorsqu'on retire une pièce essentielle, ce n'est pas seulement un poste qui disparaît, c'est tout l'équilibre de l'édifice qui peut vaciller. À lire aussiDonald Trump lié à des transactions financières de centaines de millions de dollars avec des entreprises américaines

China's value-added industrial output, a key economic indicator, increased 5.6 percent year-on-year in the first four months, the National Bureau of Statistics said on Monday.国家统计局周一发布数据显示，作为一项重要经济指标，我国前四个月规模以上工业增加值同比增长 5.6%。In April alone, industrial output grew 4.1 percent year-on-year, and rose 0.05 percent compared to the previous month, according to data released by the National Bureau of Statistics.国家统计局数据显示，仅 4 月当月，工业增加值同比增长 4.1%，环比增长 0.05%。The industrial output is used to measure the activity of large enterprises each with an annual main business turnover of at least 20 million yuan (about $2.92 million).工业增加值用于衡量年主营业务收入不低于 2000 万元人民币（约合 292 万美元）的大型企业生产经营活动。In terms of sectors, the value added output of the mining sector increased by 5.5 percent year-on-year in the first four months of the year, while that of the manufacturing sector grew by 5.8 percent. The value-added output of the electricity, heat, gas and water production and supply sectors went up by 4.5 percent, the data showed.数据显示，分行业看，今年前四个月采矿业增加值同比增长 5.5%，制造业增加值增长 5.8%，电力、热力、燃气及水生产和供应业增加值增长 4.5%。China's retail sales of consumer goods, a major indicator of the country's consumption strength, expanded 1.9 percent year-on-year in the first four months of 2026, official data showed Monday.官方数据周一显示，作为衡量我国消费活力的重要指标，2026 年前四个月我国社会消费品零售总额同比增长 1.9%。During the January-April period, the total retail sales of consumer goods reached about 16.49 trillion yuan. Excluding automobiles, retail sales grew by 3.1 percent to 15.2 trillion yuan, according to data released by the National Bureau of Statistics.国家统计局数据显示，1—4 月，社会消费品零售总额约达 16.49 万亿元；剔除汽车品类后，零售额增长 3.1%，达 15.2 万亿元。Urban retail sales totaled 14.29 trillion yuan in the January-April period, up 1.8 percent year-on-year, while rural retail sales posted faster growth of 2.8 percent, reaching 2.2 trillion yuan.1—4 月，城镇消费品零售额达 14.29 万亿元，同比增长 1.8%；乡村消费品零售额增速更快，同比增长 2.8%，达 2.2 万亿元。Retail sales of services grew by 5.6 percent year-on-year in the first four months, accelerating by 0.1 percentage points from the first quarter. Fast growth was recorded in telecommunications and information services, tourism and rental services, cultural and recreational services, and transportation and travel services, the data showed.数据显示，前四个月服务类零售额同比增长 5.6%，较一季度加快 0.1 个百分点，通信信息服务、旅游租赁服务、文化娱乐服务、交通出行服务均实现较快增长。From January to April, total online retail sales of goods and services reached 6.53 trillion yuan, up 6.6 percent year-on-year. Online goods sales rose 5.7 percent to nearly 4.12 trillion yuan, accounting for 25 percent of total retail sales of consumer goods. Online services sales grew at an 8.3 percent rate, reaching 2.41 trillion yuan, according to the data.数据显示，1—4 月，实物商品和服务网上零售额总额达 6.53 万亿元，同比增长 6.6%。其中实物商品网上零售额增长 5.7%，近 4.12 万亿元，占社会消费品零售总额的 25%；服务类网上零售额增长 8.3%，达 2.41 万亿元。In April alone, total retail sales edged up 0.2 percent year-on-year. On a monthly basis, the volume went down 0.48 percent from March.4 月当月，社会消费品零售总额同比微增 0.2%，环比 3 月下降 0.48%。indicator /ˈɪndɪkeɪtə(r)/n. 指标；标志turnover /ˈtɜːnəʊvə(r)/n. 营业额；成交量retail /ˈriːteɪl/n. 零售 v. 零售accelerate /əkˈseləreɪt/v. 加速；加快

Angesichts der immer weiter steigenden Verschuldung ist es nur eine Frage der Zeit, bis sich die Notenbank der “Fiskalischen Dominanz” beugen muss. Mit diesem Begriff bezeichnen Ökonomen den Zustand, in dem die Sicherung der Zahlungsfähigkeit des Staates vor der Inflationsbekämpfung steht. Doch nicht nur die fiskalische Dominanz gefährdet die Unabhängigkeit der Notenbank, sondern auch die “Finanzielle Dominanz”. Davon spricht man, wenn das Finanzsystem dereguliert und fragil wird und die Notenbank die Zinsen nicht mehr erhöhen kann, ohne eine Krise auszulösen.Hinzu kommt, dass auch ein hoch verschuldeter Nicht-Finanzsektor die Wirksamkeit der Geldpolitik einschränken kann, wie eine aktuelle Studie zeigt. Die Veröffentlichung des renommierten National Bureau of Economic Research (NBER) in Cambridge/Massachusetts kommt zu dem Schluss, dass sich die Europäische Zentralbank faktisch von ihrem Zwei-Prozent-Ziel verabschieden muss. Mit Daniel Stelter dazu im Expertengespräch: der Wirtschaftswissenschaftler Dr. Guillaume Plantin, Professor für Economics und Fakultätsdekan an der französischen Universität Sciences Po.Hinweis ABSTURZ – So retten wir Deutschland: das neue Buch von Daniel Stelter. Jetzt überall, wo es Bücher gibt. Auch bestellbar bei Thalia, Amazon, geniallokal.HörerserviceRede The quiet erosion of central bank independence von EZB-Direktoriumsmitglied Isabel Schnabel: https://is.gd/OEqQhg Studie Indebted Supply and Monetary Policy: A Theory of Financial Dominance des National Bureau of Economic Research (NBER) zur Financial Dominance: https://is.gd/s8mfH7 beyond the obvious – Neue Analysen, Kommentare und Einschätzungen zur Wirtschafts- und Finanzlage finden Sie unter think-bto.com.Newsletter – Den monatlichen bto-Newsletter abonnieren Sie hier.Redaktionskontakt – Wir freuen uns über Ihre Meinungen, Anregungen und Kritik unter podcast@think-bto.com.Handelsblatt – Ein exklusives Angebot für alle „bto – beyond the obvious – featured by Handelsblatt”-Hörer*innen: Testen Sie Handelsblatt Premium 4 Wochen lang für 1 Euro und bleiben Sie zur aktuellen Wirtschafts- und Finanzlage informiert. Mehr erfahren Sie unter: https://handelsblatt.com/mehrperspektiven Werbepartner – Informationen zu den Angeboten unserer aktuellen Werbepartner finden Sie hier. Hosted on Acast. See acast.com/privacy for more information.

Most parents share concerns about rising rates of depression, anxiety, and social disconnection among younger generations, especially how those issues intersect with increased time spent on smartphones and social media platforms. But what's the solution? Countries around the world, including Canada, are attempting various models of school cell phone bans. But evidence of their effectiveness has been mixed. Just last week, the U.S. National Bureau of Economic Research released the largest study ever of school cell phone bans, looking at data from about 4,600 schools across the country. While teachers did report fewer distractions in class, researchers found only a small impact on academic achievement among students, and no measurable impact whatsoever on rates of online bullying, school attendance or student attention spans. Here in Canada, at the provincial level, Premier Wab Kinew recently announced that Manitoba will soon be the first province to ban youth from using social media and AI chatbots, with ministers in Ontario and British Columbia pledging to follow suit. On the level of individuals, some young people are finding success through imposing their own restraints—timers to lock out apps or limit access to websites—or embracing "digital minimalism", buying flip phones, MP3 players and analog cameras to limit their digital engagement. Another model may be trying to enforce restraints through social and community pressure, as in the Haredi community, where community norms around "Kosher phones" and appropriate internet access have limited many members of community's engagement with the online world, for good and for ill. On this week's Not in Heaven, we ask what role rabbis and Jewish community institutions have in this conversation, and what would a Jewish ethic look like that seeks to maintain the health and wellbeing of our young people—and all members—from the harms of digital life. Credits Hosts: Avi Finegold, Yedida Eisenstat, Matthew Leibl Production team: Zachary Judah Kauffman (editor), Michael Fraiman (executive producer), Alicia Richler (editorial director) Music: Socalled Support The CJN Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to Not in Heaven (Not sure how? Click here )

Matt Weinzierl is Senior Associate Dean for Faculty Research and Development at Harvard Business School, where he is the Joseph and Jacqueline Elbling Professor of Business Administration in the Business, Government, and the International Economy Unit, and a Research Associate at the National Bureau of Economic Research. From 2022 through 2025, he served as Faculty Chair of the MBA Program at HBS, where he also teaches courses on economic policy and the space sector. His research focuses on the optimal design of economic policy, in particular taxation, with an emphasis on better understanding the philosophical principles underlying policy choices, and on the commercialization of the space sector and its economic implications. Prior to completing his PhD in economics at Harvard University in 2008, Professor Weinzierl served as the Staff Economist for Macroeconomics on the President's Council of Economic Advisers and worked in the New York office of McKinsey & Company.  Professor Weinzierl has written on a range of topics in optimal taxation and optimal economic policy more generally. His work in Positive Optimal Tax Theory has focused on identifying and formalizing the goals for tax policy that hold sway among the public, political and economic leaders, and leading tax thinkers, and then characterizing the implications of using those objectives in the analysis of optimal taxation.Professor Weinzierl currently serves as Senior Associate Dean for Faculty Development and Research. He previously served as Senior Associate Dean, Chair of the MBA Program and as Chair of the MBA Required Curriculum (RC). Prior to those positions, he was the coursehead for Business, Government, and the International Economy (BGIE), an RC course, and Chair of MBA Community Standards and the Conduct Review Board at HBS. He has created and currently teaches two courses in the Elective Curriculum: The Role of Government in Market Economies (RoGME) and Space, Public and Commercial Economics (SPACE).Space to Grow: Unlocking the Final Economic Frontierhttps://shorturl.at/5W1QU

Episode 263 covers the unfolding Instructure/Canvas breach by the threat group ShinyHunters. Josh, Chris, and Mark discuss the timeline, the potential scope of compromised data, and immediate steps schools should take. The episode also examines a new bill aimed at restricting AI companion chatbots for minors and debates age verification and safety concerns. Finally, the guys review a National Bureau of Economic Research study on lockable cell phone pouches, weighing the limited academic impacts found after one year against observed cultural benefits in schools. Finally, Chris interviews Dave Barclay, Director of Product with Deledao! https://www.k12dive.com/news/proposal-to-ban-ai-companions-for-minors-advances-in-senate/819239/ ———— Sponsored by: PowerGistics: How K-12 Charging Models Impact Chromebook Sustainability Textbooks Didn't have Cables Bring Chromebooks Back to the Classroom, but NOT Carts! One-Person Tech Department Success Story SysCloud Meter Fortinet VIZOR Lightspeed Extreme Networks Managed Methods ———— Join the K12TechPro Community (exclusively for K12 Tech professionals) Buy some swag (tech dept gift boxes, shirts, hoodies...)!!! Email us at k12techtalk@gmail.com OR our "professional" email addy is info@k12techtalkpodcast.com X @k12techtalkpod Facebook Visit our LinkedIn Music by Colt Ball Disclaimer: The views and work done by Josh, Chris, and Mark are solely their own and do not reflect the opinions or positions of sponsors or any respective employers or organizations associated with the guys. K12 Tech Talk itself does not endorse or validate the ideas, views, or statements expressed by Josh, Chris, and Mark's individual views and opinions are not representative of K12 Tech Talk. Furthermore, any references or mention of products, services, organizations, or individuals on K12 Tech Talk should not be considered as endorsements related to any employer or organization associated with the guys.

Today's Headlines: Trump hosted kids at the White House for a Presidential Fitness Award ceremony, fell asleep while RFK Jr. spoke, and used the occasion to rant about Iran to a room full of children — meanwhile, Pete Hegseth was simultaneously insisting the ceasefire was still intact while missiles were actively flying over the Strait of Hormuz, and Marco Rubio filled in at the press briefing to tout US humanitarian aid for Cuba, a country we are currently blockading. In other news, over a quarter of DOJ attorneys — roughly 3,400 lawyers with an average tenure of over 13 years — have walked out or been fired since Trump took office, ICE's own internal records confirm a 37% spike in use of force against detainees across 98 facilities, and a new study from the National Bureau of Economic Research found that ICE enforcement is actually hurting US-born workers in construction and similar sectors, with no wage increases to show for it. In creepy Congress members news, Republican Rep. Chuck Edwards is under investigation for alleged misconduct toward two female staffers in their 20s, including gifts, a handwritten love letter, and a Las Vegas vacation he took during a government shutdown he almost missed voting to end — his office also had a 59% staff turnover rate in 2025, more than double the House average. In tech and media news, the White House is planning an executive order on AI oversight involving Anthropic, Google, and OpenAI before models are released to the public, Pennsylvania sued Character.AI for having its chatbot impersonate a licensed psychiatrist complete with a fake license number, and James Murdoch is reportedly in talks to acquire Vox Media, which owns New York Magazine, The Verge, and Eater, potentially outbidding the competing offer from former NBC spinoff Versant. And finally, NPR went to Panama looking for Polymarket's corporate headquarters and found an essentially empty office where nobody had ever heard of the $15 billion prediction market platform — which also happens to share a law firm with FTX, so that's extremely reassuring. Resources/Articles mentioned: The New Republic: Trump, 79, Falls Asleep After Bragging to Kids About Iran War Plans Common Dreams: Hegseth Brags About Attacks on Iranian Ships in Strait of Hormuz While Claiming Ceasefire Holds The Hill: Marco Rubio gets presidential tryout in White House briefing room Axios: Scoop: Rep. Chuck Edwards singled out young female aides for special attention Financial Times: US Department of Justice loses a quarter of its lawyers WaPo: Internal ICE records reveal widespread use of force in detention centers Axios: ICE activity hurts some U.S.-born workers, study finds Axios: SEC proposes rule to allow public companies to report twice a year NYT: White House Considers Vetting A.I. Models Before They Are Released Reuters: Pennsylvania sues Character AI, says chatbot poses as doctors NYT: James Murdoch's Company Said to Be in Talks to Acquire Major Parts of Vox Media NPR: NPR went looking for Polymarket's Panama headquarters. It's elusive  Subscribe to the Betches News Room and join the Morning Announcements group chat. Go to: betchesnews.substack.com Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

New findings from the National Bureau of Economic Research find strong relationships between America's community colleges and local labor markets, but what does that mean for higher education? Josh Goodman, Associate Professor of Education and Economics at Boston University and co-author of the report joins host Jason Altmire to discuss how strong labor markets drive down demand for education as people are incentivized to enter the workforce rather than pursue a degree. On the other hand, a weaker labor market sees a significant increase in community college enrollment as people want a next step even if they can't find employment. Because colleges play a key role during difficult economic times, Josh argues that policymakers should rethink how they fund post-secondary education in order to support a vital tool for rebuilding America's economy.To learn more about Career Education Colleges & Universities, visit our website.

In this episode of GREAT POWER PODCAST, host Ilan Berman talks with Nicholas Eberstadt of the American Enterprise Institute about China's growing demographic problems, and what they signify for the PRC's future - and for Beijing's strategic rivalry with Washington. MATERIALS REFERENCED IN THIS EPISODE:-- The PRC's Chinese New Year robot demonstration can be seen at https://www.youtube.com/watch?v=mUmlv814aJoBIO:Nicholas Eberstadt holds the Henry Wendt Chair in Political Economy at the American Enterprise Institute (AEI), where he researches and writes extensively on international security in the Korean Peninsula and Asia, demographics, and economic development. Domestically, he focuses on poverty and social well-being. Dr. Eberstadt is also a senior adviser to the National Bureau of Asian Research.His many books and monographs include Men Without Work: Post-Pandemic Edition (2022); Russia's Peacetime Demographic Crisis: Dimensions, Causes, Implications (2010); The Poverty of “the Poverty Rate” (2008); The End of North Korea (1999); The Tyranny of Numbers (1995); and Poverty in China (1979). His latest is Lessons for an Unserious Superpower: The “Scoop” Jackson Legacy and US Foreign Policy (2024).

China's manufacturing sector remained in expansion territory in April, signaling stable growth momentum. According to the National Bureau of Statistics, the Purchasing Managers' Index came in at 50.3.

In this episode, Michael discusses the surprising truth about grocery shopping. He shares a study from the National Bureau of Economic Research that reveals men tend to spend more on groceries than women, even when buying the same items. They also dive into a humorous exchange with PETA about vegan tacos, which leads to a discussion about the rise of veganism in Denver. The conversation is light-hearted and entertaining, but also touches on the importance of being mindful of our spending habits.See omnystudio.com/listener for privacy information.

Shownotes The forever costs of America's war on Iran could disfigure economic life for generations to come, around the world and in the United States. In an earlier era, war spending helped pull the United States out of the Great Depression by pulling unemployed farmers into the cities and retraining them for manufacturing. Even through the Cold War, many Americans viewed war spending as a major driver of high-quality manufacturing jobs and consumer well-being. The war economy since 9/11 has been different. The wars themselves drive antidemocratic currents and undermine well-being even for people, like most Americans, who are far from the battlefields. These wars also undermine economic life in less obvious ways, like incentivizing endless private sector investment in defense rather than more productive industries. Eamon Kircher-Allen joins Order from Ashes to explain the profound distortions of the modern American war economy. Inflation and a possible recession are only the most immediate economic costs of the Iran war. As the forever wars after 9/11 proved, runaway war spending disfigures every aspect of the economy. The true long-term costs of this war will be much higher than the price of military operations. Related article Commentary: “The Iran War's Forever Costs Will Far Exceed the Immediate Pain for Consumers,” Century International, by Eamon Kircher-Allen Reports Referenced Report: “The Cold War and the U.S. Labor Market,” National Bureau of Economic Research, by Ilyana Kuziemko, Donato A. Onorato & Suresh Naidu   Joseph Stiglitz, “Structural Transformation, Deep Downturns, and Government Policy” (referenced in the podcast by a one-time working title, “Sectoral Dislocations and Long-Run Crises”), National Bureau of Economic Research working paper no. 23794, September 2017. See also: Joseph Stiglitz et al., “Mobility Constraints, Productivity Trends, and Extended Crises,” Journal of Economic Behavior and Organization 83 (2012): 375–93. Participants Eamon Kircher-Allen is editor-in-chief at Century International. Thanassis Cambanis is director of Century International.  Date: Tuesday, April 21, 2026 Episode: Order from Ashes 109

Send us Fan MailBlack Zombie unearths the buried origins of the zombie, from Hollywood horror to the haunted cane fields of colonized Haiti. Director Maya Annik Bedward joins us to share why this cultural reckoning is so important for Haiti, her difficulties in figuring out what to include in the film, and how a special scene with Erol Josué, General Director of Haiti's National Bureau of Ethnology and Vodou Priest, was one of the most beautiful things she's ever filmed.In Scarlet Girls, women and girls speak out about the challenges and consequences of living in the Dominican Republic, a country where abortion is banned in all circumstances. Director Paula Cury shares the call to action she hopes this film will inspire, and how she had no shortage of women and girls interested in participating in the film.Follow Black Zombie on IGFollow director Maya Annik Bedward on IGFollow Scarlet Girls on IGFollow director Paula Cury on IGThank you to our sponsors, Standard Deviant Brewing and The Tech We WantAudio Produced by Jeff Hunt of Storied: SFCo-hosted by John Wildman of Films Gone WildSupport the showThanks for listening and for your support! We couldn't have won Best of the Bay Best Podcast in 2022 , 2023 , and 2024 without you!--Fight fascism. Shop small. Use cash. Fuck ice.--Support Bitch Talk here!Subscribe to our channel on YouTube for behind the scenes footage!Rate and review us wherever you listen to podcasts!Visit our website! www.bitchtalkpodcast.comFollow us on Instagram, Threads, and SubstackListen every Monday at 7 am on BFF.FM

Profits of China's major industrial firms increased 15.2 percent in the first two months of 2026 compared with the same period last year. The National Bureau of Statistics attributed the growth to proactive macro policies.

Ted Joyce is a Professor of Economics at Baruch College and the Graduate Center, the City University of New York and a Research Associate in the National Bureau of Economic Research's program in Health Economics. He has published extensively in the area economic demography and reproductive health policy.  His work on abortion policy has appeared in the Journal of Political Economy, New England Journal of Medicine, the Journal of the American Medical Association, the Journal of Human Resources and the Review of Economics and Statistics. His most recent work is on the evaluation of programs to improve the academic outcomes of low-income students in higher-education. Dr. Joyce is on the Editorial Board for the Journal of Policy Analysis and Management. Part 2 The discussion included the following topics: the speed at which change can occur; AI impact on higher education institutions and academic health science centers; trends regarding how AI and online learning might influence one another; and emerging ethical questions that must be addressed.    

Ukraine's cities were failing long before the Russian invasion began. Kyiv and Lviv ranked among the 40 most congested cities in the world, yet neither makes the top 100 by population. Ninety per cent of Ukraine's housing stock was built before 1990. Its urban infrastructure was designed for a Soviet economy and never properly adapted for the one that followed. So when reconstruction begins, the question is not simply how to repair what was there: it is whether repairing what was there is the right goal.Edward Glaeser of Harvard, Martina Kirchberger of Trinity College Dublin, and Andrii Parkhomenko of the University of Southern California argue that the most instructive precedent is not post-USSR Warsaw, or postwar Berlin, it is postwar Tokyo. Firebombed into ruin, Tokyo rebuilt in a way that was strikingly decentralised: master plans quickly abandoned, local communities empowered to combine small lots through land readjustment, and figure it out from the bottom up. Before the war, Ukraine's economic activity was already shifting away from heavy industry and the east, towards services and the west. Reconstruction that concentrates investment where the damage is greatest, rather than where people want to build a new life, would repair the buildings and miss the point.The research behind this episode:Glaeser, Edward L., Martina Kirchberger, and Andrii Parkhomenko. 2025. "Rebuilding Ukraine's Cities: Maximizing Benefits and Minimizing Costs." Economic Policy: Papers on European and Global Issues, special issue: "What's Next for Ukraine?" To cite this episode:Phillips, Tim. 2026, "What's Next for Ukraine: Reconstruction." Economic Policy: Papers on European and Global Issues (podcast). Assign this as extra listening: the citation above is formatted and ready for a reading list or VLE.About the guestsEdward Glaeser is Fred and Eleanor Glimp Professor of Economics at Harvard University and a Research Associate of the National Bureau of Economic Research. He is one of the world's leading urban economists, with a research agenda spanning cities, housing markets, economic growth, and governance.Martina Kirchberger is a CEPR Research Affiliate and Assistant Professor in Economics at Trinity College Dublin. Her research focuses on structural transformation, urban economics, and development in low- and middle-income countries.Andrii Parkhomenko is Assistant Professor of Real Estate at the USC Marshall School of Business and a researcher at the Kyiv School of Economics. His work centers on urban and spatial economics, with a particular focus on housing markets and city growth.Research cited in this episodeUkraine Rapid Damage and Needs Assessment, World Bank Group, European Commission, and UN, 2024. The source of the physical damage figure cited in this episode: approximately $175 billion by the end of 2024, with estimates for end-2025 likely exceeding $200 billion. Some independent projections cited by Glaeser run to $500 billion or above.The concept of investing-in-investing, referenced by Kirchberger, originates in work by Paul Collier on how resource-rich developing countries can scale up capital investment effectively. It refers to the prior investments in institutions, skills, and capacity that must be made before large-scale capital flows can be productively absorbed. The implication for Ukraine: there is work to do now, before reconstruction begins at scale.The Tokyo land readjustment model, which Glaeser cited as the most instructive reconstruction precedent, allowed owners of small fragmented lots to pool their land, redevelop it jointly, and receive a share of the new property in exchange for their stake in the old. It enabled large-scale urban reconstruction without central expropriation, and without waiting for government direction. The mechanism remains in active use in Japanese urban planning.The Solidere reconstruction of central Beirut was raised as a cautionary counterexample: a centralised, top-down rebuild that produced a high-end commercial district with questionable benefit to ordinary Lebanese, and which substantially enriched its private shareholders. The contrast with Tokyo's decentralised model is the episode's sharpest illustration of what reconstruction can and cannot achieve when organised from above.More in the "What's Next for Ukraine?" seriesThis episode is the second in a three-part series based on papers presented at the inaugural Economic Policy winter conference, Paris, December 2025.Episode 1: Yuriy Gorodnichenko and Maurice Obstfeld on the investment and financing challenge: $40 billion a year, debt restructuring as a prerequisite for private capital, and why the number is more achievable than it sounds.Episode 3: Demobilisation and the labour market: getting soldiers back into work without breaking the economy that kept the country going. Related reading on VoxEURebuilding cities in Ukraine: A VoxEU column on the urban reconstruction challenge, including the spatial decisions that will shape how Ukraine's cities develop in the decades after the war.A blueprint for the reconstruction of Ukraine: A comprehensive VoxEU overview of the reconstruction architecture: what institutions are needed, how international financing can be coordinated, and what the sequencing of investment should look like.Completing Ukraine's reconstruction architecture: On the remaining gaps in the international framework for financing and coordinating Ukraine's rebuild, and what needs to happen before reconstruction can begin at the required scale.Lessons for rebuilding Ukraine from economic recoveries after natural disasters: What the evidence from post-disaster reconstruction in other countries tells us about what works, what fails, and how quickly economies can return to their pre-shock trajectories.

Professor Jeffrey Sachs joins us to talk about his book, To Move the World: JFK's Quest for Peace. Jeffrey Sachs is the Director of The Earth Institute, Quetelet Professor of Sustainable Development, and Professor of Health Policy and Management at Columbia University, and a Research Associate of the National Bureau of Economic Research. He was also Special Advisor to United Nations Secretary General Kofi Annan on a group of poverty alleviation initiatives called the Millennium Development Goals. American Exception followers on Patreon, regardless of the tier, get first access to new episodes! Paid subscribers enjoy access to the entire library of the best historical analysis of deep events on the American Exception podcast.  Subscribe to our Patreon at https://patreon.com/americanexception We are also on youtube at https://www.youtube.com/@americanexception9407 Special thanks to: ·         Dana Chavarria, production ·         Casey Moore, graphics ·         Michelle Boley, animated intro ·         Mock Orange, music

Today we had the very exciting and interesting opportunity to visit with Dr. Fiona Murray, Professor of Entrepreneurship and Co-Director of the Innovation Initiative at the Massachusetts Institute of Technology. Fiona is an internationally recognized policy expert on innovation ecosystems and the transformation of investments in science and technology into deep-tech startup ventures that address global challenges. In addition to her roles at MIT, where she previously served as an Associate Dean for Innovation, she is Chair of the NATO Innovation Fund and an Associate of the National Bureau of Economic Research. She was awarded a Commander of the Order of the British Empire for her services to innovation and entrepreneurship in the United Kingdom. Fiona also serves on the UK Ministry of Defence Innovation Advisory Panel and the European Innovation Council Joint Expert Group and sits on a number of boards. We were thrilled to host Fiona to explore global markets, innovation ecosystems, and the shifting geopolitical landscape shaping technology and capital flows. In our conversation, Fiona shares her perspective on the intersection of geopolitics and innovation and how geopolitical shocks increasingly shape technology development and commercialization. She outlines the post-2016 shift toward framing priority technologies through the lens of national and economic security, and the growing geopolitical constraints facing entrepreneurs. Drawing on discussions at the Munich Security Conference, Fiona highlights Europe's strong talent base alongside structural constraints, including smaller venture capital pools, fragmented markets, pension fund limitations, and bureaucratic procurement processes. We explore how defense and security startups think about U.S. versus European capital and transatlantic expansion, the growing importance of dual-use investment, and resilience as a business case. Fiona explains NATO's two-pronged innovation strategy and emphasizes the need for a “resilience premium” to support domestic and allied production. We discuss China's competitive innovation model, industrial policy lessons for the West, and the need to scale critical technologies to reduce supply chain dependence and rebuild manufacturing capacity across allied markets. Fiona also shares her perspective at MIT, where students are increasingly prioritizing defense, security, and resilience, alongside energy and climate reframed through critical minerals and system resilience, with AI integration across disciplines. We cover AI's role in lowering experimentation costs through simulation, large-company AI execution pitfalls, drone and autonomy lessons from Ukraine, and how to avoid overspending on AI. We close by asking where she sees innovation over the next decade, which she describes as “innovation at the extremes,” including fusion energy, Arctic navigation and mining, space commercialization, and other frontier environments. It was a fascinating discussion and we greatly appreciate Fiona for sharing her valuable time and insights. To start the show, Mike Bradley noted that this week is centered on Tuesday's State of the Union address and the policy implications that follow. On the bond market front, the 10-year remains steady, with traders' attention turning to Friday's PPI report. On the crude oil market front, WTI is trading at ~$66/bbl as markets weigh the potential for a U.S.-Iran nuclear deal versus whether the U.S. follows through on its threat of limited military strikes. WTI price could fall to low-$60/bbl if a nuclear deal is reached or rise to $70/bbl on escalation. The DJIA and S&P 500 are both up marginally since the Supreme Court struck down President Trump's global tariffs last Friday. Technology stocks have staged a modest rebound after several weeks of underperformance. Energy has outperformed over the past week but has underperformed since last Friday's tariff announcement. E&Ps will dominate

Every wave of new technology has come with the same promise: productivity rises, and everyone benefits. That's not how it usually plays out. This week, we're resharing our conversation with MIT economist David Autor, one of the world's leading experts on how technological change reshapes labor markets. Autor challenges the familiar story that innovation inevitably destroys good jobs, arguing instead that AI could expand human expertise and help rebuild pathways into the middle class — if the gains are broadly shared. As companies race to adopt AI and workers wonder what comes next, this episode offers a clearer way to think about the future of work: technology doesn't determine economic outcomes. The rules we build around it do. David Autor is a labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers. He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program. Social Media: @davidautor.bsky.social @davidautor Further reading:  NOEMA - AI Could Actually Help Rebuild The Middle Class New York Times - How One Tech Skeptic Decided A.I. Might Benefit the Middle Class Website: http://pitchforkeconomics.com Facebook: Pitchfork Economics Podcast Bluesky: @pitchforkeconomics.bsky.social Instagram: @pitchforkeconomics Threads: pitchforkeconomics TikTok: @pitchfork_econ YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Twitter: @PitchforkEcon, @NickHanauer Substack: ⁠The Pitch⁠

A new working paper from the National Bureau of Economic Research spotlights how immigrants may be shaping the health and mortality rates of older Americans. Researchers found that a roughly 25% increase in immigration to the United States could prevent nearly 5,000 deaths among seniors 65 and over. Today, we'll unpack the findings. But first, an ominous tale of AI destruction captured the imagination of the public — and stock market traders.

A new working paper from the National Bureau of Economic Research spotlights how immigrants may be shaping the health and mortality rates of older Americans. Researchers found that a roughly 25% increase in immigration to the United States could prevent nearly 5,000 deaths among seniors 65 and over. Today, we'll unpack the findings. But first, an ominous tale of AI destruction captured the imagination of the public — and stock market traders.

Ted Joyce is a Professor of Economics at Baruch College and the Graduate Center, the City University of New York and a Research Associate in the National Bureau of Economic Research's program in Health Economics. He has published extensively in the area economic demography and reproductive health policy.  His work on abortion policy has appeared in the Journal of Political Economy, New England Journal of Medicine, the Journal of the American Medical Association, the Journal of Human Resources and the Review of Economics and Statistics. His most recent work is on the evaluation of programs to improve the academic outcomes of low-income students in higher-education. Dr. Joyce is on the Editorial Board for the Journal of Policy Analysis and Management. Part 1 The discussion included the following topics: does tension exist between AI and online learning; whether AI transforms online learning into something more effective; role played by AI in measuring student performance; and determining certainty that the work produced by a student is by that individual.      

Depending on one's outlook and relationship status (and a willingness to spend lavishly on romantic gestures), Valentine's Day is an annual ritual to be loved or loathed. But is it living up to its unstated end goal – i.e., romance blossoming into love and commitment, which in turn leads to parenthood? Valerie Ramey, an economist and the Hoover Institution's Thomas Sowell Senior Fellow, looks at the economic engine that is Valentines Day (literally “a day of wine and roses”), the various social factors that've contributed to America's declining birth rate, plus why it is that modern-day parents engage in what she calls the "rug rat race” – mothers and fathers raising children in a more hands-on manner so as to assure their progeny are admitted to top-flight universities. Recorded on February 12, 2026. ABOUT THE SPEAKERS Valerie Ramey is the Thomas Sowell Senior Fellow at the Hoover Institution.  She is also a research associate of the National Bureau of Economic Research, a Research Fellow of the Centre for Economic Policy and Research, a member of the American Academy of Arts and Sciences, and a Fellow of the Econometric Society.  Ramey has published numerous scholarly and policy-relevant articles on macroeconomic topics such as the sources of business cycles, the effects of monetary and fiscal policy, the effects oil price shocks, and the impact of volatility on growth.  She has also written numerous articles on trends in wage inequality and trends in time use, such as the increase in time investments in children by educated parents.  Her work has been featured in major media, such as the Wall Street Journal and the New York Times. Bill Whalen, the Virginia Hobbs Carpenter Distinguished Policy Fellow in Journalism and a Hoover Institution research fellow since 1999, writes and comments on campaigns, elections and governance with an emphasis on California and America's political landscapes. Whalen writes on politics and current events for various national publications, as well as Hoover's California On Your Mind web channel. Whalen hosts Hoover's Matters of Policy & Politics podcast and serves as the moderator of Hoover's GoodFellows broadcast exploring history, economics, and geopolitical dynamics. RELATED SOURCES The Rug Rat Race by Garey Ramey & Valerie A. Ramey ABOUT THE SERIES Matters of Policy & Politics, a podcast from the Hoover Institution, examines the direction of federal, state, and local leadership and elections, with an occasional examination of national security and geopolitical concerns, all featuring insightful analysis provided by Hoover Institution scholars and guests. To join our newsletter and be the first to tune into the next episode, visit Matters of Policy & Politics.

As inequality deepens, democratic institutions strain, and climate risk accelerates, it's becoming impossible to ignore a basic question: What is capitalism actually for? This week, we revisit our conversation with Harvard Business School professor Rebecca Henderson who argues that today's economic crises aren't the result of isolated failures, but of an economic system designed around the wrong goal—maximizing shareholder value at any cost. Drawing from her book Reimagining Capitalism in a World on Fire, Henderson makes the case that markets built around cooperation, dignity, and shared prosperity don't just serve the public good—they often outperform extractive, low-road models, while decades of trickle-down economics hollowed out institutions, rewarded cheating over value creation, and left businesses dependent on a society they are actively undermining. Together, they ask what it would take to build a new economic paradigm—one where firms exist to strengthen the communities, democracy, and planet they rely on to survive. Rebecca Henderson is the John and Natty McArthur University Professor at Harvard Business School, where she teaches the acclaimed course Reimagining Capitalism and explores how business can help build a more just, sustainable economy. She is the author of Reimagining Capitalism in a World on Fire, and a research fellow at the National Bureau of Economic Research, a fellow of the British Academy and American Academy of Arts and Sciences, and has served on the boards of major public companies. Social Media: @RebeccaReCap Further reading:  Reimagining Capitalism in a World on Fire TED Talk: To save the climate, we have to reimagine capitalism Website: http://pitchforkeconomics.com Facebook: Pitchfork Economics Podcast Bluesky: @pitchforkeconomics.bsky.social Instagram: @pitchforkeconomics Threads: pitchforkeconomics TikTok: @pitchfork_econ YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Twitter: @PitchforkEcon, @NickHanauer Substack: ⁠The Pitch⁠

It's Thursday, January 22nd, A.D. 2026. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com. I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark Chinese-American Christians pray for those in China Chinese-American Christians are praying for their persecuted brothers and sisters back in China. Earlier this month, Harvest Chinese Christian Church in Los Angeles held an event called “Fasting Prayer Meeting for Persecuted Churches in China.” The event comes shortly after Chinese authorities detained the leaders of Early Rain Covenant Church. The congregation, like many “unregistered” churches in China, faces relentless persecution. International Christian Concern commented, “Please pray for these house church members in China, especially those who have been imprisoned or are missing after the police raids.” 1 Corinthians 12:26 says, “If one member suffers, all the members suffer with it; or if one member is honored, all the members rejoice with it.” China's birth rate plunged to a record low in 2025 Speaking of China, the country's birth rates plunged to a record low in 2025. New data from China's National Bureau of Statistics found there were 7.92 million births last year, down 17% from 2024. The birth rate in 2025 was 5.63 per 1,000 people. Meanwhile, the death rate rose to 8.04 per 1,000 people. Despite China's recent attempts to incentivize families to have children, the population has now fallen for the fourth consecutive year. In Genesis 1:28, God commanded, “Be fruitful and increase in number; fill the Earth and subdue it.” British Christian nurse vindicated for calling a man “Mister” In the United Kingdom, a National Health Service hospital recently dropped its case against a Christian nurse. Jennifer Melle worked at St. Helier Hospital in south London. She faced suspension after referring to a man, pretending to be a woman, as “Mister.” Listen to comments she made after her vindication. MELLE: “I am deeply relieved and grateful to hear that St Helier [Hospital] has confirmed it would no longer take further action against me. This has been an incredibly long and painful journey.   “Today, I want to give thanks, first and foremost, to our Lord and Savior, Jesus Christ, who has sustained me every step of the way.” Young Canadians are planning to vote conservative Young adults in Canada are planning to vote conservative in the country's next election. A survey by Abacus Data found 50% of Canadians aged 18 to 29 would vote for the Conservative Party. Only 27% of that demographic would vote for the Liberal Party. The strongest support for the Liberals comes from people over 60. A decade of liberal polices has led to higher living costs, higher inflation, and higher taxes. Trump: “I will not use force” to get Greenland Yesterday, U.S. President Donald Trump addressed the World Economic Forum's annual meeting in Davos, Switzerland.  Notably, he announced that the United States would not use force to acquire Greenland. TRUMP: “We probably won't get anything unless I decide to use excessive strength and force, where we would be, frankly, unstoppable. But I won't do that. Okay. Now everyone's saying, ‘Oh, good!' “That's probably the biggest statement I've made because people thought I would use force. I don't have to use force. I don't want to use force. I won't use force.” President Trump also announced he will not be imposing tariffs on Denmark over the acquisition of Greenland. He wrote on Truth Social, “We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region.” Arrests coming for Minneapolis leftists who invaded church service The Trump administration is investigating anti-ICE protesters who disrupted a house of worship in Minneapolis on Sunday. Kristi Noem, the Department of Homeland Security Secretary, wrote on X, “Arrests coming. … The First Amendment protects speech and peaceful assembly – not rioting. … These agitators will be held accountable.” The Department of Justice is also investigating the incident at Cities Church. Major snowstorm hits East Coast to Rocky Mountains The National Weather Service is expecting a significant winter storm to hit a large portion of the U.S. starting Friday. Heavy snow, sleet, and freezing rain is forecast all the way from the southern Rockies to the East Coast.  Much of the U.S. is already experiencing dangerously cold weather. Over 40 million people were under cold weather alerts as of Tuesday. Even parts of Florida are under alert. 463rd anniversary of Heidelberg Catechism And finally, this week marks the 463rd anniversary of the Heidelberg Catechism. The Protestant catechism was commissioned by Frederick III, the ruler of Germany's most influential province of Palatinate. The purpose of the catechism was for instructing the youth and for guiding pastors and teachers The catechism was the product of two young Protestant scholars—Zacharius Ursinus and Caspar Olevianus. The catechism was approved by a church synod in Heidelberg, Germany and published in German on January 19, 1563. It would become the most widely used catechism of the Reformation period.  The catechism's opening question reads, “What is your only comfort in life and death?” The answer begins, “That I am not my own, but belong—body and soul, in life and in death—to my faithful Savior Jesus Christ.” Romans 14:8 says, “For if we live, we live to the Lord; and if we die, we die to the Lord. Therefore, whether we live or die, we are the Lord's.”  Close And that's The Worldview on this Thursday, January 22nd, in the year of our Lord 2026. Follow us on X or subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com.  I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

There's more evidence that China's economy is stalling. Beijing released a batch of government data today that was not encouraging. Chinese consumers have slammed their wallets shut, and data from the National Bureau of Statistics of China paints a picture of stagnating investment, output, and consumption. And later, we'll preview long-delayed economic data slated to come out this week and learn why retailers are hiring fewer workers for the holiday shopping season.

Charles Burton Charles Burton discusses his book, The Beaver and the Dragon, illustrating China's fundamental untrustworthiness and statistical manipulation, which has intensified under centralized leadership, noting Canada's past cooperation with China's National Bureau of Statistics (NBS) failed as officials often falsely reported data, and despite historical deception and security risks, there is a push in Canada to increase trade with China to offset trade issues with the United States, with Burton cautioning that trusting the Chinese Communist Party has always "gone badly wrong."

SHOW  11-18-25 CBS EYE ON THE WORLD WITH JOHN BATCHELOR 1894 "THE ANGEL OF THE REVOLUTION" THE SHOW BEGINS IN THE DOUBTS ABOUT GAZA. FIRST HOUR 9-915 Liz Peek Liz Peek discusses the "AI bubble," noting the Magnificent Seven stocks are priced to perfection amidst concerns that massive investments may not yield adequate returns, observes that although the market is "risk off" the US economy seems "okay" according to data points, and expresses alarm about New York Mayor-Elect Mamdani, a socialist without management expertise who is surrounding himself with ideologues, including Hassan Sheheryar, his transition director, who is "clearly anti-Semitic" and anti-Israel, raising significant concerns for the city.E 915-930 CONTINUED 930-945 Judy Dempsey Judy Dempsey addresses the rising costs and future decline of the global cocoa crop, linking it to transcontinental climate change caused by Amazon deforestation, criticizes the EU and NATO for reacting too slowly and lacking strategic vision concerning the Ukraine war and defense, notes European military infrastructure is inadequate for rapid deployment forcing reliance on ships instead of trains, and observes that while the Russian threat is understood by most member states, political fumbling in Germany is allowing the anti-NATO, pro-Russia AfD party to gain significant ground. 945-1000 Gregory Copley Gregory Copley discusses the US military presence off Venezuela, noting President Trump seeks a negotiated outcome with Maduro to avoid long-term intervention, covers Mohammed bin Salman's influence in the Abraham Accords and the challenge posed by Turkey-backed Hamas, analyzes the symbolic rail sabotage in Poland questioning Russian involvement, and addresses the declining viability of NATO's Article 5 and the potential for King Charles III to intervene in UK political chaos. SECOND HOUR 10-1015 Charles Burton Charles Burton discusses his book, The Beaver and the Dragon, illustrating China's fundamental untrustworthiness and statistical manipulation, which has intensified under centralized leadership, noting Canada's past cooperation with China's National Bureau of Statistics (NBS) failed as officials often falsely reported data, and despite historical deception and security risks, there is a push in Canada to increase trade with China to offset trade issues with the United States, with Burton cautioning that trusting the Chinese Communist Party has always "gone badly wrong." 1015-1030 CONTINUED. 1030-1045 Jonathan Schanzer Jonathan Schanzer discusses Crown Prince Mohammed bin Salman (MBS), calling him a deeply flawed but essential leader driving Saudi modernization and normalization with Israel, with a "pathway to a Palestinian state" as the current diplomatic objective, emphasizing that resolving the Gaza situation and achieving broader peace hinges on eliminating Hamas, while the region faces long-term challenges from Iran and Turkey, the latter complicating Israel's security operations in chaotic Syria, with the UN endorsement of the Trump 20-point plan for Gaza reconstruction considered a landmark win. 1045-1100 CONTINUED CONTINUED KING CHARLES THIRD HOUR 1100-1115 Gregory Copley Gregory Copley discusses the US military presence off Venezuela, noting President Trump seeks a negotiated outcome with Maduro to avoid long-term intervention, covers Mohammed bin Salman's influence in the Abraham Accords and the challenge posed by Turkey-backed Hamas, analyzes the symbolic rail sabotage in Poland questioning Russian involvement, and addresses the declining viability of NATO's Article 5 and the potential for King Charles III to intervene in UK political chaos. 1115-1130 CONTINUED MBS 1130-1145 CONTINUED KING CHARLES 1145-1200 CONTINUED FOURTH HOUR 12-1215 Mary Kissel Mary Kissel addresses three foreign policy dilemmas: regarding Venezuela, the US military buildup is seen as leverage to force dialogue with Maduro following a successful playbook used against North Korea; in Europe, she notes a dichotomy between committed Eastern European states and "weaker lazier" Western powers regarding support for Ukraine; and the China dilemma involves whether to treat Beijing as a legitimate trading partner or an enemy narco-terrorist state responsible for exporting fentanyl precursors, with Kissel suggesting current US policy is confused and benefits the CCP. 1215-1230 1230-1245 oseph Sternberg Joseph Sternberg analyzes the BBC political bias scandal, which is significant because the BBC is "omnipresent" and arranges the "mental furniture for British society," noting the BBC, funded largely by a mandatory license fee, faced allegations ranging from deceptive editing of President Trump's remarks to the Arabic service pushing Hamas propaganda potentially fueling anti-Semitism, while domestically discussing the UK Labour Party's dilemma over controversial immigration policies to control illegal channel crossings, a crisis that has strengthened Nigel Farage's Reform party. 1245-100 AM