A Quote by Jeffrey Pfeffer
The single most significant change has been the globalization of labor markets. Product markets - trade in goods - have been globalizing for years. But now, with the reduction in communication expenses and the building of all sorts of IT infrastructure, essentially any job can be done almost anywhere.
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I had always been interested in markets - specifically, the theory that in financial markets, goods will trade at a fair value only when everyone has access to the same information.
What makes globalization even possible in the first place? One answer would be that it requires the regularization of some kind of media and communication infrastructure. When you have that, you might get globalized economic trade within some political or imperial framework, but it is likely you'll get transnational cultural flows as well. Globalizing trade can lead to a cosmopolitan culture, but also to all sorts of nationalistic or racist or patriarchal reactions to those as breaches of imaginary communities.
The process of globalization has now interconnected almost everything ranging from financial markets to transport networks to communication systems in a huge system that no one really understands.
Once again, stock markets have been threatened with extinction for almost 75 years, and I have found that stock markets are harder to kill than roaches.
Most trade agreements arise from a desire to liberalise trade - making it easier to sell goods and services into one another's markets. Brexit will not.
We're told we need this trade deal to open up vast markets to American goods, ... But the reality is that most Chinese workers cannot afford to buy the goods that even they make.
There's been a dichotomy in the world financial markets over the last 30 years between the developed markets and the developing markets. Brazil, for example, always had to pay a lot more in interest to borrow money than governments in developed nations.
Since the dawn of civilization, markets have been ubiquitous. Many of us have benefited from their focus and efficiency. Yet two widely held beliefs - that markets are best left unregulated and that markets are inherently benign - are naive and outdated.
There are no free financial markets in America or, for that matter, anywhere in the Western word, and few, if any, free markets of any other kind.
The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in the markets. The markets are a dynamic process, and sustained investment success requires the ability to modify and even change strategies as markets evolve.
I believe that there have been repeated attempts to influence prices in the silver markets. There have been fraudulent efforts to persuade and deviously control that price. Based on what I have been told by members of the public, and reviewed in publicly available documents, I believe violations to the Commodity Exchange Act (CEA) have taken place in silver markets and that any such violation of the law in this regard should be prosecuted.
In some markets, we don't have a lot of room to expand. We've done studies of store density and essentially found our more dense markets have more than one store per 15,000 people.
The principal linkages between Japan and the U.S. global economies are trade, financial markets, and commodity markets.
Most of the time, economic data is fairly benign. I don't wish to imply it is meaningless, but it is not a driver of stock markets. Indeed, the correlation between economic noise and how equity markets perform has been wildly overemphasized.
Markets change, tastes change, so the companies and the individuals who choose to compete in those markets must change.
For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.
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