Latest news with #prosperity
New York Times
11 hours ago
- General
- New York Times
We Need to Make America Grateful Again
We live in the most materially prosperous era in human history. Over the past half-century, child mortality has fallen by two-thirds in the United States, medical advances have made lives longer and more comfortable, education rates have soared, and material comforts like air-conditioning, plumbing and internet access abound. Although our country faces many challenges, the progress of the past decades has ushered in conveniences and opportunities that previous generations could scarcely imagine. Yet we are anxious, restless and often enraged. Why? It's not only about our circumstances. It is about how we perceive our lives. Although technology has elevated our standard of living, it has created a warped lens of comparison. Americans' many anxieties — about the state of our democracy, among other pressing worries — are increasingly born out of envy. Rarely has envy been so easily provoked, profitably spread or deeply embedded in daily life. This collective envy runs the risk of cutting the threads that hold our democratic system and civil society together. In his 'Divine Comedy,' Dante Alighieri described envy not just as a personal sin but also as a societal toxin. In 'Purgatorio' the envious are punished by having their eyes sewn shut — blinded to their own blessings, tormented by the success of others, which they can still hear about. That poem was written more than seven centuries ago. Today our punishment is the inverse: Our eyes are forced open, flooded with curated illusions of friends and strangers alike on social media. We scroll through images of other people's vacations, seemingly perfect families, luxury homes and effortless success, and we start to feel that we're falling behind, even if we are objectively thriving. There is a strong argument that social media can provide access to important information and a sense of community. However, the consequences of this technology and the slow drip of dopamine it administers present massive dangers to the well-being of our society. Social media didn't invent envy, but it industrialized it. It turned comparison into a business model. The average teenager spends almost five hours per day on platforms whose algorithms are finely tuned to monetize discontent. We have handed over the emotional development of an entire generation to corporations with an incentive to keep them scrolling and feeling less and less content. Into this fragile emotional landscape stepped Donald Trump. His genius was not policy but narrative. He told millions of Americans what they already felt: You are losing. Someone else is winning. And it is not your fault. Others are to blame. He named villains — immigrants, China, coastal elites. He successfully rebranded envy as righteous anger. His political project was never about making America great again. It was about explaining why other people seemed to be doing better. Ironically, essentially no one is taking advantage of America. The United States built the postwar order and wrote the rules of the global game. Our government designed the trade agreements and a financial system that benefited Americans. That's why the U.S. gross domestic product is almost 60 percent larger than that of its nearest rival, China. American companies have historically dominated in science, technology, aerospace and defense. They lead the way in banking and capital markets, media and entertainment, biotech and pharmaceuticals, professional services and higher education. Want all of The Times? Subscribe.
SBS Australia
a day ago
- Business
- SBS Australia
Australia amongst most prosperous countries in the world, UBS report reveals
Australia amongst most prosperous countries in the world, UBS report reveals Published 19 June 2025, 9:19 am Australia is among the most prosperous countries in the world according to a new report, ranking the nation 5th for average adult wealth and second in median terms. The report also coined a new term, the rise of EMILLIs, or Everyday Millionaire - people with assets of one to five million US dollars. With all that money, why do some Australians not feel rich?
Zawya
2 days ago
- Business
- Zawya
Liberia to Host Major Trade and Investment Conference in Monrovia
The Ministry of Foreign Affairs, in collaboration with the National Investment Commission (NIC) and the Liberia Chamber of Commerce (LCC), is proud to announce the upcoming Liberia Trade and Investment Conference under the theme 'Bridge to Prosperity.' Scheduled to take place from June 17 to 21, 2025 in Monrovia, the five-day event will bring together a delegation of prominent U.S. investors and business leaders to explore trade and investment opportunities across Liberia's key economic sectors. This flagship initiative is a hallmark of the Ministry's economic diplomacy agenda, under the leadership of H.E. Sara Beysolow Nyanti, and is closely aligned with the Trump Administration's renewed commercial diplomacy efforts in Africa. The five-day conference will welcome a delegation of prominent U.S. investors and business leaders, targeting companies with interest in key sectors across Liberia's economy. A special reception will be hosted in their honor by the U.S. Ambassador to Liberia, underscoring the significance of this bilateral investment initiative. As part of the U.S. business delegation's visit, participating companies will engage in sector specific site visits, project briefings, and one-on-one meetings with public and private sector leaders. The event will feature a dynamic lineup of panel discussions, business-to-business networking sessions, site visits, and government briefings, all designed to provide U.S. investors with comprehensive insights into Liberia's economic potential and investment friendly climate. This conference underscores Liberia's commitment to expanding its economic frontiers by leveraging international partnerships to drive sustainable development, job creation, and infrastructure growth. Key sectors to be showcased include agriculture, energy, infrastructure, tourism, mining, and digital economy, among others. The 'Bridge to Prosperity' conference is also a strategic pillar of the ARREST Agenda for Inclusive Development (AAID), Liberia's national development framework. The event underscores the government's commitment to mobilizing international investment as a means to accelerate job creation, infrastructure development, and economic transformation. Participants will include senior government officials, international development partners, private sector leaders, U.S. trade delegations, and representatives from multilateral institutions. The event aims to generate concrete commitments that will translate into job creation, technology transfer, and inclusive development. With this initiative, Liberia continues to chart a forward looking path in economic diplomacy, positioning itself as a gateway for U.S. investors into West Africa. Distributed by APO Group on behalf of Ministry of Foreign Affairs of Liberia.
The Guardian
2 days ago
- Business
- The Guardian
Jim Chalmers is dreaming of big economic reform. But is history – or even Albanese – on his side?
Are Australians ready to have a mature conversation about the difficult reforms needed to underpin our future prosperity? Jim Chalmers reckons we are. The treasurer says there is a hunger in Australia for bold and ambitious reform and the only thing standing between us and policy nirvana is a national consensus to get it done. Labor has a 'responsibility' to future generations to put in place the settings to drive the next era of prosperity, Chalmers says. And the government is ready to go well beyond what they took to voters in May. Sign up for Guardian Australia's breaking news email 'We're trying to say we have a big, ambitious agenda, and we're going to roll that out as we said we would. But we're going to test the country's appetite for more than that,' he told the National Press Club on Tuesday. Reform succeeds when you can bring people with you, Chalmers said. 'It requires courage but it requires consensus as well.' Courage and consensus – two things sorely lacking in political life for … decades? Chalmers entreats attendees at the upcoming three-day reform roundtable in August to leave their narrow interests at the door and consider the national interest instead. It will be a big ask. Chalmers is right to call out those who make loud demands for reform but shoot down every single step in that direction. 'Too often, the loudest calls for economic reform in the abstract come from the noisiest opponents of actual reform in the specific,' he said on Tuesday. Look no further than the confected outrage in some media outlets of the $3m super tax. Chalmers is also trying to dictate how journalists interrogate the government. He claims the 'rule-in rule-out game' that the media play is 'cancerous' to reform. If you force the government to 'rule out' changes to the GST, for example, then that instantly rules out some major options for holistic tax reform that could leave most Australians better off. Chalmers is not wrong but he is asking for trust – and that needs to go both ways. Sign up to Afternoon Update Our Australian afternoon update breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Labor has shown it prefers to keep the fourth estate at arm's length, treating journalists as a problem to be managed and, where possible, manipulated. Good luck being allowed to talk to somebody in the bureaucracy to help you better understand an issue, or get some time to talk with a policy adviser. That might be inside baseball but there's a more obvious question mark hanging over Chalmers' vision. Is there really the claimed appetite for political risk around the cabinet table, starting with the prime minister, Anthony Albanese? Meaningful reform involves winners and losers, as Chalmers repeatedly noted. But a glance at any budgets over recent years suggests policies are carefully designed not to create any losers, unless they are small groups such as wealthy Aussies or multinational firms. Finally, Chalmers was cagey about whether members of the opposition would be invited to take part in August's talkfest. Which begs a perhaps even more fundamental question: can major economic reform, particularly in heavily contested areas such as tax, happen without bipartisan support? History suggests not. Patrick Commins is economics editor for Guardian Australia
Forbes
13-06-2025
- Business
- Forbes
Polish Elections: Conservative Momentum And The Fight For Economic Freedom
Few days before winning the election Poland's conservative presidential candidate Karol Nawrocki ... More spoke at the Conservative Political Action Conference, CPAC, Tuesday, May 27, 2025, in Jasionka, Poland. (AP Photo/Alex Brandon, Pool) I have been working with think tanks in Poland since the 1990s, and the progress I have witnessed over the years is truly remarkable. Many challenges remain, but after last week's victory for conservative presidential candidate Karol Nawrocki, coupled with good first-round results for Slawomir Mentzen of the Konfederacja (Confederation for Liberty and Independence) alliance, Poland has a chance to continue building support for economic and social policies that lead to prosperity. Life, liberty, and the pursuit of happiness, with your property, are the foundation of prosperity. They also explain why Poland's economy has outperformed that of most of its neighbors. Polish society, long resilient in the face of adversity, has endured centuries of invasions and oppression from powerful countries. In 1655, for instance, the Swedish army invaded what was then the Polish-Lithuanian Commonwealth, setting off a devastating five-year conflict. The following century, in what some have called the most egregious land grab in history, Russia, Prussia, and Austria took over and partitioned Polish territory. Thus, from the late 1790s until the end of World War I, Poland existed only in the soul of its people. Then in the 20th century, of course, the country suffered years of Nazi and Soviet rule. Since gaining independence from the Soviet Union, Poland has embraced market-oriented reforms, drawing strength from its Catholic heritage and valuing life, community, and solidarity. As a result, the country has experienced rapid growth and is steadily closing the income gap with the leading nations of the Western world. Economic freedom in Poland, of course, grew following the fall of communism and jumped again in the 2010s before being negatively impacted by COVID policies. Since then, the Polish economy has continued to grow despite political differences; however, the country has yet to regain the high economic freedom scores it achieved a decade ago. Nevertheless, as the Heritage Foundation's Index of Economic Freedom shows, Poland has maintained high scores in most economic areas. Economic Freedom scores of Poland show a good position on freedom to trade but low scores in ... More government spending In the country's current context, the war in Ukraine, of course, looms large. When Russia invaded Crimea in 2014, I wrote a piece arguing that Poland was back at the forefront of Western civilization; now it is more strategic than ever for the free world. Proving that in their culture, solidarity is much more than a political slogan (or the name of its famous labor movement), generous Poles have since the beginning of the conflict opened their houses to Ukrainians. Initial estimates indicated that over 3 million refugees crossed the border to Poland. Although the war continues, many Ukrainians have returned to their land, yet still close to one million have been granted temporary protected status in Poland, which is currently home to about 2 million Ukrainian citizens. In Poland, any sign of compromise or weakness in supporting Ukraine is enough for someone to be labelled pro-Putin. Most Poles see the current effort to support Ukraine as an opportunity to weaken Russia, its most dangerous geopolitical and strategic enemy. However, President-elect Nawrocki (who takes office on August 6) has had no qualms about seeking and accepting support from President Trump, often accused of being soft on Putin and weak in his support for Ukraine. Regarding the Trump administration, Poland's continuing balance of power and the growth of Konfederacja should allow for continued constructive engagement and the hope to open a new path for Europe. Current President Andrzej Duda was elected by the same coalition forces, with PiS (Law and Justice) as the major party, that gave the narrow win to Nawrocki. A victory by Rafal Trzaskowski, aligned with the policies of Donald Tusk, the current prime minister, would have moved Poland closer to the political forces still dominant in Brussels and farther from today's Washington. As China is a major ally of Russia and is helping with its war of aggression on Ukraine, during my recent visit to Poland, I repeatedly sought opinions on China. In Poland, though, there is almost no talk or awareness of the threat of communist China. The answers I received ranged from 'China is far from us' to 'China's diplomats are not pushy or arrogant, compared to those in the West.' On internal matters, policy players who focus primarily on economic policy have complained that Poland's leading parties, Civic Coalition and Law and Justice, seem satisfied with the economic status quo. The good election results from Konfederacja, a party which, in addition to promoting institutions and laws that protect life, faith, and family, also advocates for increased economic freedom, may in time lead to a more market-friendly center-right government. I have followed Konfederacja since its early days, when it was the creation of one of the most colorful political and intellectual troublemakers I have ever met: Janusz Korwin-Mikke. The party is now divorced from his eccentricities, which, though appealing to some of the most radical voters, alienate the rest. Much like the Libertarian Party in the United States, Korwin-Mikke's party, despite some success, was not taken seriously and struggled to achieve the 5% threshold needed to win seats in Parliament. Things have changed. In the 2020 presidential election, the party's young presidential candidate, Krzysztof Bosak, then in his late thirties, attracted 6.78% of the vote. In the first round of the 2025 election, Slawomir Mentzen, the candidate backed by Konfederacja, attracted 15% of the vote. I had been following Mentzen, also not yet 40 years old, because his allies admired the bold moves of President Javier Milei in Argentina and asked me if I had any way to attract President Milei to Poland or get him to endorse Mentzen. Leaders of think tanks and political parties working to improve rule of law and economic freedom in ... More Poland. Clockwise, from upper left, Jerzy Kwaśniewski (Ordo Iuris), Tomasz Wróblewski (Warsaw Enterprise Institute), Krzysztof Bosak MP (Deputy Marshal of the Sejm), Grzegorz Placzek, MP (Chairman of Konfederacja Parliamentary block). Right: over of the Great Reset document produced by Ordo Iuris, and Mathias Corvinus College (Budapest) The day after Nawrocki's victory, I met with Grzegorz Placzek, the leader of Konfederacja in the Sejm, or lower house. Placzek described to me some of his party's plans. In addition to consolidating the party's vote to remain in third place and become a key partner in future center-right governments, Placzek would like to push for bolder efforts. One possibility is closer collaboration with the Trump administration to form a common front against international agencies that have proven ineffective or are seen as working too closely with the Chinese government or push a leftist or 'woke' cultural agenda. Konfederacja has proposed forming a common cause with the United States and Argentina, leaving the World Health Organization, and establishing an alternative group. Placzek is well-positioned to strengthen ties with Argentina, serving as chairman of the Polish-Argentine Parliamentary Group, which aims to foster collaboration with Argentina's libertarian lawmakers. On the think-tank side, I spent time with leaders of two groups that have consistently produced quality programs and attracted support from a broad donor base. The first of these is Ordo Iuris, founded in 2013, which focuses on the rule of law and the culture and institutions of justice. The other is the Warsaw Enterprise Institute (WEI), a multifaceted pro-free-market think tank founded also in 2013. Last September, in collaboration with the Heritage Foundation, Ordo Iuris convened think tanks from across Europe to discuss the potential impact of current EU policies on transatlantic relations. The effort encouraged Ordo Iuris to collaborate with Hungary's Mathias Corvinus Collegium to produce a document serving as a guide for European reforms. This alternative 'Great Reset' [I will put a link] document is available online in several languages and calls for reestablishing a union based on six founding principles: national sovereignty over EU primacy; national constitutions over judicial activism; representative democracy over technocratic government; subsidiarity and respect for national competencies over centralization; national interests over self-proclaimed EU values; and free speech over ideological control. WEI's work encompasses research, events, and publications. One product that caught my attention is the Institute's Black Book of Government Spending. The book aims to raise awareness of waste and inefficiencies in government. The effort promotes transparency among authorities and fosters incentives for good practices. As it seeks input from all over Poland, it also raises WEI and its market-oriented solutions across the nation. Most other market-oriented think tanks in Poland are fragile, relying on a few donors, well-known figures, or a single main product. The oldest of these is the Adam Smith Centre, founded in 1989, which continues to celebrate 'Tax Freedom Day.' The Civil Development Forum Foundation (FOR) was established in March 2007 by Professor Leszek Balcerowicz and serves as a primary advocate for sound economic policies. The Polish American Foundation for Education and Economic Research, founded in 2000, has helped publish multiple books promoting free markets, organized important programs, and provided numerous scholarships. It is currently in standby mode with minimal programming due to the death of its founder and principal funder, Jan Malek, but there is hope that its programs will soon be reactivated. Am I hopeful for Poland's future? Yes. A few days before the Presidential election, CPAC held its first-ever event in Poland. It was very well attended, with most Polish participants aligned with the opposition to the current government led by Donald Tusk. U.S. Secretary of Homeland Security Kristi Noem, the highest-level Trump administration official at the event, was extremely well-received. She did not keep quiet about the June 1 presidential election and endorsed Nawrocki. However, neither did The Economist and multiple publications and writers aligned with Brussels, who employed various scare tactics to encourage Poles to vote for Rafal Trzaskowski. The divisions between libertarians and conservatives in many countries have led to left-wing victories. Given the common ground on cultural topics in Poland and the results of this past election, I am confident that political and intellectual differences will not hinder their path to prosperity. Wojciech Popiela, wpopiela@ collaborated with this piece
