young professional

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pages: 742 words: 137,937

The Future of the Professions: How Technology Will Transform the Work of Human Experts by Richard Susskind, Daniel Susskind


23andMe, 3D printing, additive manufacturing, AI winter, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, Andrew Keen, Atul Gawande, Automated Insights, autonomous vehicles, Big bang: deregulation of the City of London, big data - Walmart - Pop Tarts, Bill Joy: nanobots, business process, business process outsourcing, Cass Sunstein, Checklist Manifesto, Clapham omnibus, Clayton Christensen, clean water, cloud computing, computer age, computer vision, conceptual framework, corporate governance, crowdsourcing, Daniel Kahneman / Amos Tversky, death of newspapers, disintermediation, Douglas Hofstadter,, Erik Brynjolfsson, Filter Bubble, Frank Levy and Richard Murnane: The New Division of Labor, full employment, future of work, Google Glasses, Google X / Alphabet X, Hacker Ethic, industrial robot, informal economy, information retrieval, interchangeable parts, Internet of things, Isaac Newton, James Hargreaves, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Khan Academy, knowledge economy, lump of labour, Marshall McLuhan, Narrative Science, natural language processing, Network effects, optical character recognition, personalized medicine, pre–internet, Ray Kurzweil, Richard Feynman, Richard Feynman, Second Machine Age, self-driving car, semantic web, Skype, social web, speech recognition, spinning jenny, strong AI, supply-chain management, telepresence, the market place, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, transaction costs, Turing test, Watson beat the top human players on Jeopardy!, young professional

We are asking no more than has been asked of countless other sectors and industries that have been deeply affected by new technology. 6.7. Becoming expert In the course of our research, and in conversations with professionals, we were frequently questioned about the ways in which young professionals might learn their trade in the coming years. According to our broad hypothesis, much of the routine and repetitive work of today’s aspiring professionals will be undertaken in new ways, for example, by para-professionals, offshoring, or online service. Are we not therefore depriving young professionals of the work upon which they currently cut their teeth? If we source much of the basic work in alternative ways, on what ground will young professionals take their early steps towards becoming expert? Maintaining a pipeline of experts This becoming-expert objection is clearly an important one. If we accept that expert professionals will be needed for the foreseeable future, it would be counter-productive to overhaul our professions today in a way that would inhibit or even eliminate our future pipeline of human experts.

It constitutes our response to concerns about the viability of the next generation of professionals; however, we do counsel that the population of this category itself, although needed for many years yet, will diminish in number as the alternative models take hold. What are we training young professionals to become? This leads us to a more fundamental training issue. If the central arguments of this book are correct, or even just persuasive, they raise questions about the way in which we currently educate and train our aspiring and young professionals. If professional craftsmanship is fading and will be replaced over time by para-professionalism, knowledge engineering, communities of experience, embedded knowledge, and machine-generated expertise, then one vital question must be asked: what are we currently training large numbers of young professionals to become? Our concern is that our elaborate and sophisticated methods and institutions for the development of professionals are configured today to bring through a new generation of twentieth-century professionals, rather than a cohort of individuals and teams who are equipped to function in a technology-based Internet society in which online service will dominate over human service and ever more capable machines will carry out tasks that used to be the preserve of human professionals.

In short, recipients are increasingly unhappy about paying for the training of their external providers. In the course of our consulting work we have spoken to aspiring young professionals in many disciplines and invited their views. Commonly they have responded that they are able to grasp many of the tasks they undertake in the name of training after a handful of experiences, and that many months of repetition were unnecessary: ‘we get it after a couple of days; we don’t need to do this for a couple of years.’ In the context of professional organizations, this can be phrased in another way—we should not confuse training with exploitation. The commercial reality is that young professionals in these businesses undertake routine work because this is at the heart of the pyramidic model of profitability that requires the ‘leveraging’ (as is said) of junior professionals.

pages: 281 words: 86,657

The Great Inversion and the Future of the American City by Alan Ehrenhalt


anti-communist, big-box store, British Empire, crack epidemic, David Brooks, deindustrialization, Edward Glaeser, Frank Gehry, haute cuisine, Honoré de Balzac, housing crisis, illegal immigration, Jane Jacobs, manufacturing employment, McMansion, New Urbanism, postindustrial economy, Richard Florida, The Chicago School, The Death and Life of Great American Cities, too big to fail, transit-oriented development, upwardly mobile, urban decay, urban planning, urban renewal, walkable city, white flight, working poor, young professional

In the words of Bob Eury, of the Central Houston Civic Improvement organization, “You see people buying housing in Houston that you never would have imagined anyone buying.” The current population of the Nagle Street development, Liu estimates, is about 70 percent empty nesters and 30 percent young professional singles and couples. Almost no children live here. “The higher the price,” Liu says, “the more empty nesters,” who tend to ask about high-quality appliances, the amount of light streaming into the living room, elevator capability for future years, and sometimes smoking balconies for baby boom contemporaries who have not shed their tobacco habit. The young professional contingent places a higher priority on green features and energy savings. There are twenty-seven units to one acre of land in this particular development—the empty nesters who buy there are often cutting the amount of their living space in half.

A closer look at the results shows that the most powerful demographic events of the past decade were the movement of African Americans out of central cities (180,000 of them in Chicago alone) and the settlement of immigrant groups in suburbs, often ones many miles distant from downtown. Central-city areas that gained affluent residents in the first part of the decade maintained that population in the recession years from 2007 to 2009. They also, according to a 2011 study by Brookings, suffered considerably less from increased unemployment than the suburbs did. Not many young professionals moved to new downtown condos in the recession years because few such residences were being built. But there is no reason to believe that the demographic trends prevailing prior to the construction bust will not resume once that bust is over. It is important to remember that demographic inversion is not a proxy for population growth; it can occur in cities that are growing, those whose numbers are flat, and even in those undergoing a modest decline in size.

“It’s the combination of trendy nightspots and prime real estate,” The Washington Post explained a few years ago, “that has made Clarendon among the most chic places to live in the Washington area.” Washingtonian magazine reported that the “bar scene has become so hot, it’s even luring city-dwellers.” The revival of Clarendon was critical to a revival of the county as a whole. Thousands of young professionals decided they wanted to live near the big city, if not necessarily in the middle of it. Developers responded to that demand with an open-air “lifestyle” shopping center, seeking to emulate some of the qualities of the old walkable Clarendon shopping district, and with dozens of new condominium buildings lining the transit corridor that ran straight through Clarendon to the western end of the county.

The Global Citizen: A Guide to Creating an International Life and Career by Elizabeth Kruempelmann


Berlin Wall, business climate, corporate governance, Fall of the Berlin Wall, follow your passion, global village, job satisfaction, Menlo Park, young professional

Work-abroad programs are geared mostly toward undergrad and graduate students, recent graduates, and young professionals; however, there are also many overseas teaching and volunteer programs for people of all ages. A work program or work exchange prearranges or helps you secure most (or all) of the following so you don’t have to: work and residency permits, accommodations, language courses, and an internship or job. An initial placement or application fee may be charged, but the cost is usually offset by the money you make from your job or by the university credit you receive. Organized programs run for a set period of time, such as the summer, a semester, an academic year, or longer. The Benefits of Working Abroad Arranging an overseas job through an organized work or exchange program offers students and young professionals with limited experience many advantages over the traditional route of sending résumés to international companies and hoping for a dream position overseas.

The exceptions are jobs in fast-growing industries, telecommunications being the most recent example, that can’t hire consultants quickly enough. If your skills are in high demand in the worldwide job market, then you’ll probably have an easier time getting hired by an international company regardless of your experience. Exceptions aside, if you want to work in an international company that 218 CHAPTER SEVEN will send you overseas, you increase your chances of success by having some overseas experience. Students and young professionals have many opportunities to do internships, volunteer abroad, participate in training programs, teach, or do other types of shortterm work. And that’s exactly what this chapter is about: showing you how to get basic experience to put you in a better position for a job overseas. Professionals or career changers who have been out of school for a while will find this catch-22 situation particularly difficult, especially if internships, volunteer programs, or teaching stints abroad are simply not options because you need to keep earning a salary to support yourself and your family.

These types of positions are generally offered to mid-level and higher management types, IT (information technology) or telecom wizards, and people with many years of international experience. If you don’t fall into one of these categories, you’re facing catch-22 #1 again. If you can’t find a company that is willing to send you abroad, here are a few alternatives to finding or creating international work. • Arrange a Work Permit through an Exchange Organization The easiest way for students, grads, and young professionals to get around the work permit issue, while simultaneously gaining that coveted first experience overseas, is to work, intern, volunteer, or teach through an organized workexchange program like the ones you’ll read about later in this chapter. Exchange organizations were created to facilitate academic and work exchanges across borders. Check out the following programs for more information: Council on International Educational Exchange (see page 232), BUNAC—British Universities North America Club (see page 231), and the Carl Duisberg Society (see page 234).

pages: 249 words: 66,383

House of Debt: How They (And You) Caused the Great Recession, and How We Can Prevent It From Happening Again by Atif Mian, Amir Sufi


Andrei Shleifer, asset-backed security, balance sheet recession, bank run, banking crisis, Ben Bernanke: helicopter money, Carmen Reinhart, collapse of Lehman Brothers, debt deflation, Edward Glaeser,, financial innovation, full employment, high net worth, Home mortgage interest deduction, housing crisis, Joseph Schumpeter, Kenneth Rogoff, liquidity trap, Long Term Capital Management, market bubble, Martin Wolf, moral hazard, mortgage debt, paradox of thrift, quantitative easing, Robert Shiller, Robert Shiller, school choice, shareholder value, the payments system, the scientific method, tulip mania, young professional

Fiscal policy is an attempt to replicate debt restructuring, but it is particularly problematic in the United States, where government revenue is raised from taxing income, not wealth.20 The creditors whom the government should tax tend to be the wealthiest people in the economy, which is why they are able to lend to borrowers. But the wealthy do not necessarily have high incomes; similarly, those with high incomes are not necessarily wealthy. For example, a retired investment banker may have no income but high wealth, whereas a young professional couple may have high income but low wealth. Think of the young professional couple just starting their post–graduate school jobs. They have high income but almost no wealth. Their MPC out of income may be very high: they expect a steady stream of high income but need to make large capital investments upfront on things like furnishing their first apartment. Taxing them will hurt the economy. Also, by taxing income, the government distorts incentives for working, perhaps leading one of the professionals in the relationship to stay out of the labor force.

As long as he needs a car, a higher price of cars does not increase his wealth. He must “consume” a car, and such consumption is now more expensive. The exact same logic applies to housing. But we have already seen that home owners did in fact borrow aggressively during the 2002–2006 period.16 Why? One “rational” explanation that economists have put forward is the idea of borrowing constraints. Imagine a young professional couple with high income prospects. They have two young children at home, and as a result the mother has temporarily decided to stay home with the kids. However, she expects to go back to work in a few years and earn a high income. The household in our example temporarily has low income but expects much higher income in the future. This household does not want to cut their spending dramatically just because the mother has stopped working temporarily.

pages: 221 words: 68,880

Bikenomics: How Bicycling Can Save the Economy (Bicycle) by Elly Blue


2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, active transport: walking or cycling, American Society of Civil Engineers: Report Card, big-box store, car-free, hydraulic fracturing, if you build it, they will come, Jane Jacobs, job automation, Loma Prieta earthquake, medical residency, oil shale / tar sands, peak oil, Ponzi scheme, ride hailing / ride sharing, science of happiness, the built environment, urban renewal, women in the workforce, working poor, young professional

Despite a long history of discrimination and unequal access, this has never been widely true, and today the barriers are coming down rapidly, thanks in part to the growing inclusivity of traditional bicycle advocates, but in much larger part to the efforts and leadership of a growing number of grassroots social and advocacy groups. Just like how neighborhoods where people of color live are often passed over by the type of infrastructure reforms that benefit the community, when those benefits do go in, they are all too often treated as development tools with the goal of raising property values and attracting young, professional newcomers to move in. As a result, longtime residents and renters often find themselves priced out of their own neighborhood—replaced by comparatively welloff white people. That this practice produces bitterness is understandable. That bicycling comes to represent it is a shame. In Portland, the divide is especially strong. Bike around town long enough and you’ll see an ethnically diverse mix of fellow riders, especially along the eastern and northern edges of town where our world-famous bike infrastructure makes only rare appearances.

In a car-oriented world, old age becomes a disability for many, long before it might in a more walkable neighborhood. The more car-reliant your daily life is, the lower the threshold becomes for frailness, injury, or failing eyesight to be experienced as outright disabling. In the next twenty years, the number of elderly people with drivers licenses in the U.S. is expected to triple. Many in the baby boomer generation are already opting to move back to the urban areas they fled as young professionals. As our population ages, the demand for real, safe, convenient alternatives to driving is only going to become more apparent, and expensive stop gap measures like transit shuttles are going to become less and less effective. The very young suffer as much in a car-oriented world as the very old. The history of our health is closely tied with the story and pace of sprawl development, and that is showing most clearly in younger generations.

“How about a dollar now?” Most narratives about the economic benefits of bicycling focus on the success stories of places like Magnolia Street in Fort Worth or Broad Avenue in Memphis. City planners, bike-friendly politicians, and bicycle advocates love to make the points that creating good bicycle access is a cost-effective way to improve certain types of retail earnings, attract creative young professionals, and raise property values in an urban business district. Plenty of business owners are realizing the very real benefits to integrating bicycling into their business, from encouraging employees to ride to welcoming bicycling clients to advocating for safe bike routes to their door. It’s tempting for cities to focus on the low hanging fruit, improving a few streetscapes while neglecting the urgent transporation needs of people living in outlying areas.

pages: 401 words: 108,855

Cultureshock Paris by Cultureshock Staff


Anton Chekhov, clean water, haute couture, haute cuisine, Honoré de Balzac, indoor plumbing, Louis Pasteur, QWERTY keyboard, Skype, telemarketer, urban renewal, young professional

Some established artisans and furniture makers still inhabit the cours (courtyards) and passages on the sides of the picturesque, vibrant rue du Faubourg Saint-Antoine, but others are slowly disappearing as redevelopment raises rents and forces them out. Replacing them are bistros, cafés and shops that draw the crowds, as well as new businesses, galleries and the consulting and high-tech firms that are drawing young professionals. The major streets of rue de Charonne and rue de la Roquette are connected by the popular cobblestone rue de Lappe (once known for prostitutes and pimps), rue des Taillandiers and rue Keller, a centre for the gay community. Old warehouses converted into lofts, restored buildings and new apartment blocks make for an eclectic mix. There is an interesting market and a park-like setting on the wide boulevard Richard Lenoir.

Just a few streets away however, the bustling crowds and exotic aromas of Place d’Aligre take hold. The covered Marché Beauvau gives over to an inexpensive, international extravaganza that spills out into rue d’Aligre and down to rue de Charenton. 40 CultureShock! Paris Owing to its proximity to Gare de Lyon, which opened Paris to southern Europe and then to Africa, this has long been a varied area, changing once again with the influx of young, professional Parisians. Although housing blocks intrude on the otherwise low-rise residential quartier, the neighbourhood spirit persists. Almost a secret in the eastern area of the arrondissement is the Allée Vivaldi, a hidden greensward surrounded by modern offices and residences. Across an arched footbridge, the open Jardin de Reuilly has gardens, playgrounds filled with children and a grassy expanse; it too is surrounded by pleasant, unobtrusive, modern housing.

But they also live in a time when half of the marriages in France end in divorce and where their friends often don’t choose the option of marriage at all. Abortion is legal. Real estate prices are high and jobs are scarce. They know that the political and economic realities of the uncertain 21st century influence their futures. Competition is fierce, so they must pay attention and learn. Some of these people are ambitious young professionals who may well, eventually, bring about change to the hierarchical, top-down structure of French society. And others, even young shopkeepers and clerks, will perhaps start businesses of their own that cater to the needs of future generations, broadening the definition of what it is to be both modern and French. As for their parents, they perpetuate the stereotype that, while knowing it is necesary, the French don’t like change.

pages: 297 words: 89,206

Social Class in the 21st Century by Mike Savage


call centre, Capital in the Twenty-First Century by Thomas Piketty, Clapham omnibus, Corn Laws, deindustrialization, deskilling, Downton Abbey, financial independence, gender pay gap, Gini coefficient, income inequality, Mark Zuckerberg, megacity, New Urbanism, Occupy movement, precariat, psychological pricing, The Spirit Level, unpaid internship, upwardly mobile, very high income, winner-take-all economy, young professional

They might vaguely recall someone who was at a boarding school or at Oxford with them, or someone they meet in their West End club, and such contacts can be mobilized to provide information or assistance when needed. Indeed, one might even think of the entire aristocracy of past centuries being a kind of association of weak ties, in that within it everyone would know many people with titles, if only by repute. In the age of social media weak-ties networking is now much more common throughout the social structure. Many young professionals engage in a form of ‘network sociality’ as part of their job in which their portfolio of contacts from different walks of life is a key resource in their jobs. If this is true, then perhaps social capital has become more diffuse and been democratized across the social spectrum. Perhaps people of all walks of life know a range of other kinds of people these days. The GBCS is the first survey to analyse this issue in depth, using the most sophisticated version of the Lin Position Generator, which has become a widely used method for assessing the extent and range of people’s social networks.

However, if you are equally well-off, but come from a working class background, then the ratio falls to under four to one (you have a 75 per cent chance of knowing a CEO, but only a 21 per cent chance of knowing a factory worker). Our final theme – age – is an important one. We have seen how economic capital is strongly skewed towards older people, whilst cultural capital is differentiated between a (socially more legitimate) highbrow form which is oriented towards older people, and an upstart emerging cultural capital which young professionals are more likely to possess. Social capital is rather less affected by age (see Figure 4.6), except for the older groups (over seventy years of age), in which the number of contacts become much lower (probably because people over seventy mainly mix with retired people). This having been said, there is a tendency for GBCS respondents to know more people in the elite and professional occupations as they get older, presumably because they are more likely to be in that group themselves and hence mix with people like them.

While Didsbury and Cheadle constitute solidly middle class suburbs and have had high status for many decades, Chorlton has undergone massive gentrification, which has seen it transformed from a predominantly working class area with a sizeable Irish migrant population in the 1960s to its current bohemian social formation of coffee shops and pricey restaurants.15 It is interesting to note the emergence of a new centre of gentrification around multi-cultural Levenshulme, immediately to the east of the eschewed Moss Side. This is another area of modest Victorian terraces and larger Edwardian semis, traditionally a working class area, but it is now in a similar process of class transition as young professionals with families who cannot afford the cost of housing in established areas like Chorlton move in. However, secondly, what is of particular interest is the distinctive zone of elite concentration focused squarely on the city centre and on the city’s ‘Northern Quarter’, which has been mooted by the city council as an alternative cultural neighbourhood, with an ever-increasing concentration of trendy bars and vintage-clothing shops.

pages: 344 words: 93,858

The Post-American World: Release 2.0 by Fareed Zakaria


affirmative action, agricultural Revolution, airport security, anti-communist, Asian financial crisis, battle of ideas, Berlin Wall, Bretton Woods, BRICs, British Empire, call centre, capital controls, central bank independence, centre right, collapse of Lehman Brothers, conceptual framework, Credit Default Swap, currency manipulation / currency intervention, delayed gratification, Deng Xiaoping, double entry bookkeeping, failed state, Fall of the Berlin Wall, financial innovation, global reserve currency, global supply chain, illegal immigration, interest rate derivative, knowledge economy, Mahatma Gandhi, Martin Wolf, mutually assured destruction, new economy, oil shock, open economy, out of africa, postindustrial economy, purchasing power parity, race to the bottom, reserve currency, Ronald Reagan, Silicon Valley, Silicon Valley startup, South China Sea, Steven Pinker, The Great Moderation, Thomas L Friedman, Thomas Malthus, trade route, Washington Consensus, working-age population, young professional

And once you get beyond the IITs and other such elite academies—which graduate under ten thousand students a year—the quality of higher education in China and India remains extremely poor, which is why so many students leave those countries to get trained abroad. The data affirm these anecdotal impressions. In 2005, the McKinsey Global Institute did a study of “the emerging global labor market” and found that a sample of twenty-eight low-wage countries had approximately 33 million young professionals* at their disposal, compared with just 15 million in a sample of eight higher-wage nations (the United States, United Kingdom, Germany, Japan, Australia, Canada, Ireland, and South Korea).15 But how many of these young professionals in low-wage countries had the skills necessary to compete in a global marketplace? “Only a fraction of potential job candidates could successfully work at a foreign company,” the study reported, pointing to several explanations, chiefly poor educational quality. In both India and China, it noted, beyond the small number of top-tier academies, the quality and quantity of education is low.

Europe has a larger share of the world’s private biotech companies, representing 42 percent of the total (compared with 31 percent in America). The United States, by contrast, is home to a greater share of public biotech companies (50 percent versus Europe’s 18 percent), perhaps indicating the greater maturity of the U.S. market. * MGI’s figure includes graduates trained in engineering, finance and accounting, life science research, and “professional generalists,” such as call center operatives. Young professionals are defined as graduates with up to seven years of experience. * The right-wing attack on American universities as being out-of-touch ivory towers has always puzzled me. In a highly competitive global environment, these institutions dominate the field. * Birthrates in China could be underreported owing to the government’s one-child policy. However, the demographic consensus holds that the total fertility rate has been below replacement level in China for fifteen years or more

pages: 296 words: 76,284

The End of the Suburbs: Where the American Dream Is Moving by Leigh Gallagher


Airbnb, big-box store, Burning Man, call centre, car-free, Celebration, Florida, clean water, collaborative consumption, Columbine, crack epidemic, East Village, edge city, Edward Glaeser, extreme commuting, helicopter parent, Home mortgage interest deduction, housing crisis, Jane Jacobs, low skilled workers, Mark Zuckerberg, McMansion, Menlo Park, mortgage tax deduction, New Urbanism, peak oil, Ponzi scheme, Richard Florida, Robert Shiller, Robert Shiller, Sand Hill Road, Seaside, Florida, Silicon Valley, Steve Jobs, Stewart Brand, the built environment, The Death and Life of Great American Cities, Tony Hsieh, transit-oriented development, upwardly mobile, urban planning, urban sprawl, Victor Gruen, walkable city, white flight, young professional, Zipcar

“After you build fifteen hundred of those things, it’s not fun anymore—and there I was, literally, trapped in my car,” he says. He went out and bought Duany’s book and a few months later quit his job. “I basically walked in one day and said, ‘Here’s my phone, here’s my pager, here are my keys,’ and just walked away,” he says. He has been working on urban redevelopment projects ever since; most recently, he’s transformed the neglected East Passyunk area into a thriving district populated by young professionals and drawing some of the city’s hottest restaurants. It is Duany, in fact, who I am awaiting, along with my fellow congress attendees, in room 1E in West Palm Beach. He’s running late, and the conference organizers are radioing one another on their headsets. “Has anyone seen Andres?” “Is he here yet?” After ten or fifteen minutes, he arrives, breezing in calm, cool, and debonair in Nantucket reds and a navy blazer.

Nearby, Fourteenth and U Streets, the very corner where riots erupted in 1968 after the assassination of Martin Luther King Jr., is now one of the chicest strips in the city, with coffee shops, restaurants, independent fashion boutiques, and a thirty-three-thousand-square-foot Room and Board store. When it was mulling locations, the seller of upscale, stylish modern furniture analyzed zip codes to identify where the majority of its wealthy young professional customers were; Fourteenth and U showed up as the epicenter. Developers have turned many of these neighborhoods into some of the most desirable new enclaves in town. In St. Louis, an old abandoned shoe-manufacturing warehouse is being turned into luxury loft apartments. In Denver, the trendy Lower Downtown, “LoDo,” neighborhood has emerged amid what was once a red-light district. In Boston, a West Coast development firm is building a twenty-story residential tower in Fort Point, the former industrial district that was the setting for much of the Martin Scorsese movie The Departed.

pages: 493 words: 139,845

Women Leaders at Work: Untold Tales of Women Achieving Their Ambitions by Elizabeth Ghaffari


Albert Einstein, AltaVista, business process, cloud computing, Columbine, corporate governance, corporate social responsibility, dark matter, family office, Fellow of the Royal Society, financial independence, follow your passion, glass ceiling, Grace Hopper, high net worth, knowledge worker, Long Term Capital Management, performance metric, pink-collar, profit maximization, profit motive, recommendation engine, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley startup, Steve Ballmer, Steve Jobs, thinkpad, trickle-down economics, urban planning, women in the workforce, young professional

I genuinely believe that the reason for that success is that we've been open to, and embraced, change—we've said “yes” when opportunities came our way. And, honestly, our life has been incredibly enhanced because of that. Ghaffari: What do you see yourself doing over the next five to ten years? Beck: I certainly hope I'll continue in my CEO role while serving on boards. Retirement will entail a combination of corporate board work and philanthropy. Ghaffari: As you look out at the marketplace today for young professional women, where do you see the greatest opportunities for them? Beck: This is a very tough job market. And I talk to many young women. Having a daughter who is a junior in college, I speak to a lot of her friends, and I'm increasingly concerned at the perception that our college students have today about their prospects and their future. There's a lot of fear about this job market and where they will find opportunity.

From my daughters' perspectives, it took them until they went away to college to realize the significance of my work. You're always “just Mom” to your daughters. But, as they started to talk with other people about careers and to their professors about careers, they began to be more aware of what their parents do. At that point, I think they developed a much better understanding of my work. Ghaffari: As you look at young professional women today, what kind of advice do you have for them? Horan: Everybody's situation, obviously, is unique. But the thing I always try to advise people is don't focus yourself totally on some career goal or career path and have that be a maniacal focus because you might miss some interesting opportunities. I look at my decisions: what if I had not come to the United States, or if I had not moved to Massachusetts, or if I hadn't come to IBM, or if I hadn't moved to the CIO office?

I look at my decisions: what if I had not come to the United States, or if I had not moved to Massachusetts, or if I hadn't come to IBM, or if I hadn't moved to the CIO office? All those things were not necessarily part of a natural, logical progression, but altogether they represent a whole lot of opportunities. I think one of the most important things is to keep your options open, to evaluate each opportunity as it comes along, and to listen to input that comes your way. Ghaffari: Do you do speaking events for young professional women? Horan: I have given presentations at different times and on different topics. Next month, I've been invited to speak at the Women's International Networking Conference in Rome, Italy. It's an event about careers and opportunities. I certainly have done a lot of that. We have a number of diversity networks at IBM. Periodically I've been asked to speak to a group about my career, the decisions I've made, and why I've made them.

pages: 613 words: 151,140

No Such Thing as Society by Andy McSmith


anti-communist, Ayatollah Khomeini, Berlin Wall, Big bang: deregulation of the City of London, British Empire, call centre, cuban missile crisis, Etonian, F. W. de Klerk, feminist movement, Francis Fukuyama: the end of history, friendly fire, full employment, glass ceiling, greed is good, illegal immigration, index card, means of production, Mikhail Gorbachev, mortgage debt, mutually assured destruction, North Sea oil, Northern Rock, Ronald Reagan, South Sea Bubble, strikebreaker, The Chicago School, union organizing, upwardly mobile, urban decay, Winter of Discontent, young professional

If the audience did not rate the performer, which they usually did not, the call went up for the gong to sound and the performance was over. Some determined characters came back week after week for a repeated humiliation. It was, of course, impossible to impose any quality control, so the better performers shift ed to the Boulevard Theatre, and set up Comic Strip, which became a test-bed for comedy that assumed an audience of liberal, anti-racist, anti-sexist, Guardian-reading, Thatcher-loathing young professionals, who would not be off ended by swearing or sexual explicitness, but would object to racist or sexist humour. The master of ceremonies was – to quote one critic – ‘a human volcano called Alexei Sayle . . . possessed of a Michelin body, a very loud voice, and a brain that only works on overdrive’, whose idea of pandering to his audience was to announce that the evening was to be a charity event in aid of ‘Help a Kid – Kill a Social Worker’.

The world’s first shop dedicated to selling nothing but Filofaxes opened in Camden, north London, in 1983, though even then a consumer journalist observed that the Filofax: seems to sell almost entirely by word of mouth. I have never seen it advertised or promoted but there are those who become so enthusiastic about it, who are prone to talk in rather evangelical terms about how it has changed their lives, that its circle of fans seems to widen all the time.31 Actually, it was being subtly promoted as a useful fashion accessory for busy, over-committed young professionals at the very time when political fashion made it acceptable to let people know if you were in a well-paid job that kept you busy. From about 1983, sales grew and grew. Paul Smith, a celebrity fashion designer who had a shop in Covent Garden where he sold an eclectic range of clothes, and soon-to-be fashionable luxuries for men, put a Filofax on display. Company turnover multiplied from £100,000 in 1980 to £5m in 1985.

By the end of 1989, Britain’s consumers owed a grand total of £304 billion, of which about £255 billion was tied up in mortgages and about £7.6 billion was owed on credit cards and store cards.1 Ten years earlier, total debt on everything except first mortgages and bank overdrafts came to about £5 billion; credit card debt was probably only about £750 million.2 As the 1990s dawned, people were more aware of their rights as citizens and consumers, and less deferential of authority, but they were less likely to be involved in any kind of political activity. They were more mobile, particularly if they were young professionals. The idea of staying with one employer throughout a person’s working life, paying compulsorily into the firm’s pension fund, to be presented with a gold watch and chain on retirement, was as dated as the gramophone. Ambitious people switched jobs or switched from employment to self-employment and back, taking with them their newly acquired portable pensions. The proportion of the nation’s income derived from self-employment had doubled during the 1980s.3 Overall, income from wages and salaries accounted for only 62 per cent of household income in 1990, compared with about 75 per cent in 1968.

pages: 537 words: 135,099

The Rough Guide to Amsterdam by Martin Dunford, Phil Lee, Karoline Thomas


banking crisis, haute cuisine, illegal immigration, place-making, Plutocrats, plutocrats, spice trade, sustainable-tourism, trade route, upwardly mobile, urban sprawl, young professional

Attracts an older clientele. Daily 4pm–midnight, 2am at the weekend. Hegeraad Noordermarkt 34. Lovingly maintained, old-fashioned brown café-bar with a fiercely loyal, older clientele. The back room, furnished with paintings and red plush seats, is the perfect place to relax with a hot chocolate. Het Molenpad Prinsengracht 653. Recently revamped café which hasn’t lost its laidback atmosphere. Fills up with a young, professional crowd after 6pm. Daily noon–1am (Fri & Sat till 2am). Het Papeneiland Prinsengracht 2. With its wood panelling, antique Delft tiles and ancient stove, this rabbit warren of a place is one of the cosiest bars in the Grachtengordel. Jam-packed late at night with a garrulous crew of locals and tourists alike. Daily 10am–1am (Fri & Sat till 3am). De Pieper Prinsengracht 424. Laid-back neighbourhood brown bar, at the corner of Leidsegracht, with rickety old furniture and a mini-terrace beside the canal.

A chic bar-restaurant – cool, light and vehemently un-brown; eat in or chill out at the bar with a Mojito. The clientele is stylish, and the food a hybrid of French- and Dutch-inspired dishes; mains start at €14.50. Breakfast in the garden during the summer is a highlight. Daily 10am–1am, Fri & Sat until 2am. Weber Marnixstraat 397. Popular local hangout, just off the Leidseplein, attracting musicians, students and young professionals. Crowded and noisy on weekends. Daily 8pm–3am (Fri & Sat till 4am). De Zotte Proeflokaal Raamstraat 29. Down a grubby alley not far from the Leidseplein, this laid-back bar specializes in Belgian beer, of which it has dozens of varieties. Daily 4pm–1am, bar food served 6–9.30pm. Eating and drinking | Bars | The Jordaan and Western docklands De Blaffende Vis Westerstraat 118. Somewhat of an institution, this is a typical neighbourhood bar at the corner of the 2e Boomdwarsstraat.

Eating and drinking | Restaurants | Grachtengordel south | Japanese Japan-Inn Leidsekruisstraat 4 020/620 4989. Warm and welcoming restaurant in the midst of the Leidseplein buzz. Sushi and sashimi popular with Japanese tourists and Dutch business folk alike. Main courses range from €15 to €35. Daily 5pm–midnight. Tomo Sushi Reguliersdwarsstraat 131 020/528 5208. Quality, hip Japanese grill and sushi place, popular with a young, professional crowd. Mains begin at €17. Daily 5.30–10.30pm. Eating and drinking | Restaurants | Grachtengordel south | Thai Dynasty Reguliersdwarsstraat 30 020/626 8400. Lavishly appointed restaurant – all orchids and murals – offering a first-rate choice of Indochinese food, with both Vietnamese and Thai options. Main courses from €20. Daily except Tues 5.30–10.30pm. Eating and drinking | Restaurants | Grachtengordel south | Vegetarian and organic Golden Temple Utrechtsestraat 126 020/626 8560.

pages: 266 words: 78,689

Frommer's Irreverent Guide to Las Vegas by Mary Herczog, Jordan S. Simon


Berlin Wall, glass ceiling, haute couture, haute cuisine, Maui Hawaii, Murano, Venice glass, Saturday Night Live, young professional

At Paris, Napoleon’s Empire trappings—burgundy leather chairs, gold-tasseled red curtains, carpet-strewn marble floors—strike the right note for silky jazz and brandies. At the JW Marriott, Gustav Mauler’s Lounge wittily parodies a men’s club: marble tables, forest green upholstery, copper accents, and barrel-vaulted ceilings of stained glass and cedar. It’s a prime spot for Summerlin’s less stuffy young professionals to decompress over a single malt and cigar. However, if you want real lounge lizard action, we mean, the sort that Bill Murray did to perfection on Saturday Night Live, the archetype lounge singer act is Mr. Cook E. Jarr, who must be seen—and you must see him—to be believed. He’s currently booked a couple nights a week at Harrah’s Carnaval Court. If he’s no longer there by the time you read this, he will surface eventually, so check local listings.

Gustav Mauler’s Lounge offers NIGHTLIFE customers avail themselves of pool tables, condom machines, live bands, and a sublime jukebox. On the west side of town, Pink E’s Fun Food and Spirits lures a hip “I don’t care if I’m hip” crowd, who like the tongue-in-cheek pink decor, plentiful pink pool tables (more than 50), and rocking bands. Crown and Anchor Pub caters to casino industry folk, UNLV students and faculty, and young professionals, who appreciate the vast beer selection, live soccer and rugby telecasts, nightly all-you-can-eat specials, jiving juke, and occasional hot local bands. Locals are greeted Cheers-style at Z’Tejas, where the subdued lighting, natty surroundings, and nouvelle Southwestern appetizers (half price at happy hour) are ideal for unwinding after work. Ellis Island Brewery & Casino is a welcoming casino/lounge just off the Strip with favorable odds and free bingo, generous cheapo eats and drinks, and nightly karaoke (regulars deck themselves out like their idols, from Tina Turner to Gene Simmons).

pages: 209 words: 89,619

The Precariat: The New Dangerous Class by Guy Standing


8-hour work day, banking crisis, barriers to entry, Bertrand Russell: In Praise of Idleness, call centre, Cass Sunstein, centre right, collective bargaining, corporate governance, crony capitalism, deindustrialization, deskilling, fear of failure, full employment, hiring and firing, Honoré de Balzac, housing crisis, illegal immigration, immigration reform, income inequality, labour market flexibility, labour mobility, land reform, libertarian paternalism, low skilled workers, lump of labour, marginal employment, Mark Zuckerberg, means of production, mini-job, moral hazard, Naomi Klein, nudge unit, pensions crisis, placebo effect, post-industrial society, precariat, presumed consent, quantitative easing, remote working, rent-seeking, Richard Thaler, rising living standards, Ronald Coase, Ronald Reagan, science of happiness, shareholder value, Silicon Valley, The Market for Lemons, The Nature of the Firm, The Spirit Level, Tobin tax, transaction costs, universal basic income, unpaid internship, winner-take-all economy, working poor, working-age population, young professional

Only a tiny minority of either generation described themselves as ‘work-centric’ and most did not see jobs as their route to happiness. The attitudes of the two generations were similar; the difference is in the reality confronting them. These studies focused on those who managed to enter salaried jobs, who would be expected to show more job commitment than those who did not. A UK study (Centre for Women in Business, 2009) also found young professionals professing loyalty to their firm, but it was contingent loyalty in that most were ready to move on if not promoted. They felt their parents’ trust in an ‘organisation’ had been betrayed and did not want to leave WHO ENTERS THE PRECARIAT? 75 themselves open to such disappointment. While some have claimed that the Great Recession has acted as a needed ‘reality check’ on Generation Y’s ‘air of entitlement’ (Tulgan, 2009), if anything it will have reinforced young people’s feeling that the ‘system’ is against them.

Browne, J. (2010), Securing a Sustainable Future for Higher Education, London: The Stationery Office. Bryceson, D. B. (ed.) (2010), How Africa Works: Occupational Change, Identity and Morality, Rugby: Practical Action Publishing. Bullock, N. (2009), ‘Town Halls Find Fresh Angles to Meet Recession’, Financial Times, 23 December, p. 2. Carr, N. (2010), The Shallows: What the Internet Is Doing to Our Brains, New York: Norton. Centre for Women in Business (2009), The Reflexive Generation: Young Professionals’ Perspectives on Work, Career and Gender, London: London Business School. Chan, W. (2010), ‘The Path of the Ant Tribe: A Study of the Education System That Reproduces Social Inequality in China’, paper presented at the Seventh East Asia Social Policy Conference, Seoul, 19–21 August. Chellaney, B. (2010), ‘China Now Exports Its Convicts’, Japan Times Online, 5 July. Available at [accessed 2 December 2010].

pages: 264 words: 90,379

Blink: The Power of Thinking Without Thinking by Malcolm Gladwell


affirmative action, airport security, Albert Einstein, complexity theory, David Brooks, East Village, haute couture, Kevin Kelly, medical malpractice, medical residency, Menlo Park, new economy, pattern recognition, phenotype, Ronald Reagan, Silicon Valley, Stephen Hawking, theory of mind, young professional

In high-stakes, fast-moving situations, we don’t want to be as dispassionate and purely rational as the Iowa ventromedial patients. We don’t want to stand there endlessly talking through our options. Sometimes we’re better off if the mind behind the locked door makes our decisions for us. 2. The Storytelling Problem On a brisk spring evening not long ago, two dozen men and women gathered in the back room of a Manhattan bar to engage in a peculiar ritual known as speed-dating. They were all young professionals in their twenties, a smattering of Wall Street types and medical students and schoolteachers, as well as four women who came in a group from the nearby headquarters of Anne Klein Jewelry. The women were all in red or black sweaters, and jeans or dark-colored pants. The men, with one or two exceptions, were all wearing the Manhattan work uniform of a dark blue shirt and black slacks. At the beginning they mingled awkwardly, clutching their drinks, and then the coordinator of the evening, a tall, striking woman named Kailynn, called the group to order.

All were in their mid-twenties. All were of average attractiveness. All were instructed to dress in conservative casual wear: the women in blouses, straight skirts, and flat shoes; the men in polo shirts or button-downs, slacks, and loafers. All were given the same cover story. They were instructed to go to a total of 242 car dealerships in the Chicago area and present themselves as college-educated young professionals (sample job: systems analyst at a bank) living in the tony Chicago neighborhood of Streeterville. Their instructions for what to do were even more specific. They should walk in. They should wait to be approached by a salesperson. “I’m interested in buying this car,” they were supposed to say, pointing to the lowest-priced car in the showroom. Then, after they heard the salesman’s initial offer, they were instructed to bargain back and forth until the salesman either accepted an offer or refused to bargain any further—a process that in almost all cases took about forty minutes.

pages: 342 words: 86,256

Walkable City: How Downtown Can Save America, One Step at a Time by Jeff Speck


A Pattern Language, active transport: walking or cycling, car-free, carbon footprint, congestion charging, David Brooks, edge city, Edward Glaeser, Enrique Peñalosa, food miles, Frank Gehry, Guggenheim Bilbao, if you build it, they will come, intermodal, invisible hand, Jane Jacobs, meta analysis, meta-analysis, New Urbanism, peak oil, Ralph Waldo Emerson, Richard Florida, skinny streets, smart cities, Stewart Brand, the built environment, The Death and Life of Great American Cities, transit-oriented development, Upton Sinclair, urban planning, urban renewal, urban sprawl, walkable city, white flight, young professional, Zipcar

Power—hardly part of the anticar lobby—report that “online discussions by teens indicate shifts in perceptions regarding the necessity of and desire to have cars.”2 In “The Great Car Reset,” Richard Florida observes: “Younger people today … no longer see the car as a necessary expense or a source of personal freedom. In fact, it is increasingly just the opposite: not owning a car and not owning a house are seen by more and more as a path to greater flexibility, choice, and personal autonomy.”3 These driving trends are only a small part of a larger picture that has less to do with cars and more to do with cities, and specifically with how young professionals today view themselves in relation to the city, especially in comparison to previous generations. Born as the baby boom ended, I grew up watching three television shows almost daily: Gilligan’s Island, The Brady Bunch, and The Partridge Family. While Gilligan’s Island may have had little to say about urbanism, the other two were extremely instructive. They idealized the mid-twentieth-century suburban standard of low-slung houses on leafy lots, surrounded by more of the same.

In these shows, the big city (in all cases New York) was lovingly portrayed as a largely benevolent and always interesting force, often a character and coconspirator in its own right. The most urban of American cities was the new normal, and certainly good. The first thing that I take away from this comparison is that I watched far too much television as a child. But the real point here is that today’s young professionals grew up in a mass culture—of which TV was only one part—that has predisposed them to look favorably upon cities; indeed, to aspire to live in them. I grew up in the suburbs watching shows about the suburbs. They grew up in the suburbs watching shows about the city. My complacency has been replaced by their longing. This group, the millennials, represent the biggest population bubble in fifty years.

pages: 452 words: 110,488

The Cheating Culture: Why More Americans Are Doing Wrong to Get Ahead by David Callahan


1960s counterculture, affirmative action, corporate governance, David Brooks, deindustrialization, East Village, forensic accounting, full employment, game design, greed is good, high batting average, housing crisis, illegal immigration, income inequality, job satisfaction, market fundamentalism, McMansion, microcredit, moral hazard, new economy, New Urbanism, offshore financial centre, oil shock, Plutocrats, plutocrats, postindustrial economy, profit maximization, profit motive, RAND corporation, Ray Oldenburg, rolodex, Ronald Reagan, shareholder value, Silicon Valley, Steve Jobs, The Bell Curve by Richard Herrnstein and Charles Murray, The Chicago School, Thorstein Veblen, War on Poverty, winner-take-all economy, World Values Survey, young professional

"There is compelling evidence that concern about relative position is a deep-rooted and ineradicable element of human nature," Frank writes.34 So go ahead, feel sorry for that baseball benchwarmer pulling in paychecks bigger than anything most of us will see in our lifetime—but who shares a locker room with guys who make $10 million a year. Feel sorrier, though, for the sales manager at a Banana Republic who can barely make ends meet at a job selling expensive clothes to young professionals who make five times what she does. Worries about relative position are most wrenching when people are hurting economically and when competitive emotions are mixed with survival instincts. This is exactly the situation for tens of millions of Americans who were bypassed by the boom—yet see its fruits displayed before them every day. THE FALL OF TRUST in the United States over the past forty years has long been discussed and debated.

Get passed over for another candidate, and that gilded dream vanishes into thin air, replaced by the dreary prospect of actually working your way up in the world. Today, in the aftermath of the boom, the stakes are also high—namely, basic survival. Over two million jobs disappeared in the U.S. between 2001 and 2003, with some of the most competitive and lucrative industries getting hit the hardest. Stories abound of highly educated young professionals working in sales jobs or not working at all. With the stakes of job hunting now so high in both good times and bad, it should come as no surprise that more job seekers misrepresent their credentials. The American résumé, in fact, is right up there with lawyers' time sheets and corporate earnings statements as among the most misleading documents around. Many people start lying on their résumés while in school and continue to do so throughout their careers.

pages: 344 words: 94,332

The 100-Year Life: Living and Working in an Age of Longevity by Lynda Gratton, Andrew Scott


3D printing, Airbnb, carbon footprint, Clayton Christensen, collapse of Lehman Brothers, crowdsourcing, delayed gratification, diversification, Downton Abbey, Erik Brynjolfsson, falling living standards, financial independence, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, gender pay gap, gig economy, Google Glasses, indoor plumbing, information retrieval, Isaac Newton, job satisfaction, low skilled workers, Lyft, Network effects, New Economic Geography, pattern recognition, pension reform, Peter Thiel, Ray Kurzweil, Richard Florida, Richard Thaler, Second Machine Age, sharing economy, side project, Silicon Valley, smart cities, Stephen Hawking, Steve Jobs, women in the workforce, young professional

The lengthening of life is a very real phenomenon, bringing with it unpredictable changes and challenges, but also significant opportunities. With increased life expectancy, how do you get the most from your life? How do you leverage your abilities while at the same time taking advantage of life’s opportunities? Gratton and Scott’s book is a wake-up call for individuals, organizations, governments and societies. Relevant to young professionals as well as seasoned leaders, this book introduces readers to a new reality: multi-stage professional and personal lives that encompass different careers and transitions. Full of practical insights, this book helps readers to build and live a life worth living. Boris Groysberg, Professor of Business Administration, Harvard Business School Longevity has been rising in rich countries at a continuing remarkable rate.

Dual income couples – men spend 11 hours per week more in paid work, have 4.5 more hours of leisure; women do more childcare and housework. 18Modern Parenthood (Pew Center). 19McKinsey research programme examining gender diversity: see for example ‘Gender diversity in top management: Moving corporate culture, moving boundaries’ (McKinsey, 2013); ‘Unlocking the full potential of women in the U.S. economy’ (McKinsey, 2012); Women Matter. Gender diversity at the top of corporations: Making it happen (McKinsey, 2010). 20Bertrand, M., Goldin, C. and Katz, L., ‘Dynamics of the Gender Gap for Young Professionals in the Financial and Corporate Sectors’, American Economic Journal: Applied Economics 2 (2010): 228–55. 21Goldin, ‘A Grand Gender Convergence: Its Last Chapter’. 22‘Women and the Future of Work’, ILO (International Labour Organization) (2015),950pdf 23Law firms such as Clearspire in the US or Obelisk in the UK are already developing an online platform that enables home-based lawyers to practise their skills in a more flexible way. 24Coltrance, S., Miller, E., DeHaan, T. and Stewart, L., ‘Fathers and the Flexibility Stigma’, Journal of Social Issues 69 (2) (2013): 279–302. 25Cherlin, A., Marriage, Divorce, Remarriage (Harvard University Press, 1981). 26Buettner, P., The Blue Zones: lessons for living longer from the people who have lived the longest (National Geographic, 2008). 27Ruggles, S., ‘The Transformation of American Family Structure’, American Historical Review 99 (1994): 103–28. 28Kohli, M., ‘The World We Forgot: An Historical Review of the Life Course’, in Marshall, V.

I, Partridge: We Need to Talk About Alan by Steve Coogan


call centre, Celtic Tiger, citation needed, cuban missile crisis, late fees, means of production, University of East Anglia, young professional

It would have taken her longer, but she already had make-up on, you could probably smell her perfume in Hiroshima, and as she’d only actually been running for 53.16 seconds (a new British record by the way) it seemed crazy to shower – a wet wipe administered to the main danger zones had been deemed more than adequate. Yet no sooner had the shin-dig hit its stride than Sally’s chums and buddies seemed to drift away. Gunnell may have run her race but the rest of them were yet to compete. Their loss however was very much AP’s gain (my gain). And as Sally wasn’t ready to head home, we moved on to a restaurant serving authentic Japanese nosh. Of course, these days young professionals hotfoot it to Pret a Manger every lunchtime to gobble down box after box of sushi. But back then, things were different. Back then, our tastes were simpler and less foreign. As a result Sal and myself were pretty miffed as we browsed the menu. What was all this stuff? Others might have given up and headed off to a Western fast food joint, but not us. Our attitude was very much ‘when in Rome …’, so when the waiter came round we went for it and ordered a couple of bowls of rice.

In reality I didn’t drive a vehicle until I reached the legal age. I’ll always remember the morning of my 17th birthday. I was hoping to open the curtains and see a shiny new Triumph Dolomite gift-wrapped on the drive. But I didn’t get a car. That’s not to say I wasn’t pleased with my attaché case. The other kids in my class had to make do with satchels (boring!), whereas I looked quite the young professional, striding around with my nearly-new, jet-black Samsonite. It was a great feeling to arrive fashionably late, then make a show of flicking open the lock and pulling out my PE kit. Mum was the one that took me out for driving lessons. Dad said he wanted to but couldn’t because of his temper. In reality, though, I got taken out very rarely, so I had to improvise. I’d sit on a chair in my bedroom, with a cushion for a steering wheel and upturned school shoes for the clutch, brake and accelerator.

pages: 97 words: 28,524

Minimalism: Live a Meaningful Life by Joshua Fields Millburn, Ryan Nicodemus


agricultural Revolution, price anchoring, Skype, young professional

We’ve been featured in the Wall Street Journal, NPR, CBC, NBC, FOX, and various other media outlets. Our essays have been featured on dozens of popular websites throughout the Internet, including Zen Habits, Time Magazine’s #1 blog in the world. Both of us have extensive experience leading large groups of people in corporate America, coaching and developing hundreds of employees to grow as individuals and live more meaningful lives. Once upon a time, we were two happy young professionals living in Dayton, Ohio. But we weren’t truly happy. We were best friends in our late twenties, and we both had great six-figure jobs, nice cars, big houses, plenty of toys, and an abundance of stuff. And yet with all this stuff, we knew we were not satisfied with our lives. We knew we were not happy or fulfilled. We discovered that working 70–80 hours a week and buying more stuff didn’t fill the void.

pages: 133 words: 36,528

Peak Car: The Future of Travel by David Metz


autonomous vehicles, bike sharing scheme, Clayton Christensen, congestion charging, crowdsourcing, David Attenborough, decarbonisation, edge city, Edward Glaeser, Just-in-time delivery, Network effects, Richard Florida, Robert Gordon, Silicon Valley, Skype, urban sprawl, yield management, young professional

People are willing to live in locations once considered rather remote because these have been made accessible by speedy and reliable rail travel, particularly for the journey to work. It is not only new housing that is changing what were previously the poorer neighbourhoods of East London. The increased access has encouraged people to buy and renovate existing housing, stimulated by prices lower than in more fashionable parts of the capital. Young professionals have been moving east, reviving neighbourhoods that are becoming more diverse in their social composition. As well as housing, transport investment has made possible a variety of major commercial and public developments in East London, notably London City Airport (suitable for short take‑off aircraft), a large exhibition centre, a major entertainment venue, university campuses, the site for the 2012 London Olympic Games and the adjacent large shopping centre, with more such developments expected.

pages: 288 words: 16,556

Finance and the Good Society by Robert J. Shiller


bank run, banking crisis, barriers to entry, Bernie Madoff, capital asset pricing model, capital controls, Carmen Reinhart, Cass Sunstein, cognitive dissonance, collateralized debt obligation, collective bargaining, computer age, corporate governance, Daniel Kahneman / Amos Tversky, Deng Xiaoping, diversification, diversified portfolio, Donald Trump, Edward Glaeser, eurozone crisis, experimental economics, financial innovation, full employment, fundamental attribution error, George Akerlof, income inequality, invisible hand, joint-stock company, Joseph Schumpeter, Kenneth Rogoff, land reform, loss aversion, Louis Bachelier, Mahatma Gandhi, Mark Zuckerberg, market bubble, market design, means of production, microcredit, moral hazard, mortgage debt, Occupy movement, passive investing, Ponzi scheme, prediction markets, profit maximization, quantitative easing, random walk, regulatory arbitrage, Richard Thaler, road to serfdom, Robert Shiller, Robert Shiller, Ronald Reagan, self-driving car, shareholder value, Sharpe ratio, short selling, Simon Kuznets, Skype, Steven Pinker, telemarketer, The Market for Lemons, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, Vanguard fund, young professional, Zipcar

The Great Illusion, Then and Now 135 139 143 151 159 168 178 187 197 209 219 Epilogue: Finance, Power, and Human Values 231 Notes References Index 241 257 273 Preface to the Paperback Edition As I prepare the paperback edition of this book, Finance and the Good Society, tens of thousands of students around the world are about to enroll in university courses on economics and nance, just as even more young people are about to embark on careers that get them involved, one way or another, in nancial activities. These young people comprise the most signi cant audience for the paperback edition as they ponder their role in an expanding world of financial capitalism. While there is nothing especially novel about a new generation of students and young professionals assuming their places in classrooms and corporations and nonpro ts and regulatory agencies, in recent years there is something very new about the culture in which they will learn. That is, the part played by the new nancial technologies in precipitating the ongoing nancial crisis has become a matter of public as well as intellectual concern. Although the “Occupy Wall Street” and “Occupy London” movements and their variants have passed, their legacy of anger and criticism lives on.

An author needs to step aside at some point, but the thinking a book initiates never really ends. It is carried on by a multitude of others and intertwined with thinking in other books and other new public dialogues. This book is about progress and change, and even more than with most books it is intended as a conversation starter. It is in this spirit—the spirit of discussion, collaboration, and dialogue, leading to invention and change—that I invite nance students and young professionals to take part in the e ort to try to de ne a clear and compelling connection between finance and the good society. This book consists of two parts, following an introductory chapter. The introductory chapter establishes the context of nancial capitalism in modern history and global society, emphasizing the centrality of nancial innovations, from stock markets through mortgages, in contributing to the achievement of all of the varied long-term goals people have, and the role of the nance professions as “stewards” of society’s wealth.

pages: 215 words: 55,212

The Mesh: Why the Future of Business Is Sharing by Lisa Gansky


Airbnb, Amazon Mechanical Turk, Amazon Web Services, banking crisis, barriers to entry, carbon footprint, cloud computing, credit crunch, crowdsourcing, diversification, Firefox, Google Earth, Internet of things, Kickstarter, late fees, Network effects, new economy, peer-to-peer lending, recommendation engine, RFID, Richard Florida, Richard Thaler, ride hailing / ride sharing, sharing economy, Silicon Valley, smart grid, social web, software as a service, TaskRabbit, the built environment, walkable city, yield management, young professional, Zipcar

They’re going to help you build your business and refine your offering. When you’re confident that your offer is finely honed for your market, these early adopters will also help you grow through their social networks. This is all classic stuff, but especially true for a Mesh business. leap out from a base. As you start to dig in, whether you’re focused on single moms, aging parents, young professionals, or musicians, the vitality of the relationship is one of the single biggest assets you’re going to have in your business. Make the conversation palpable and interactive in order to build trust. Provoke your market. No one will notice you otherwise. You may annoy, but at least you’ll get a reaction. Seek joy and love, of course, but the worst outcome is that no one cares or engages. Your ability to continue an active dialogue, and continually anticipate and act on requests, will give you a huge advantage over any competitive company.

pages: 251 words: 63,630

The End of Cheap China: Economic and Cultural Trends That Will Disrupt the World by Shaun Rein


business climate, credit crunch, Deng Xiaoping, Donald Trump, facts on the ground, glass ceiling, high net worth, illegal immigration, income per capita, indoor plumbing, job-hopping, Maui Hawaii, price stability, quantitative easing, Silicon Valley, Skype, South China Sea, Steve Jobs, thinkpad, trade route, trickle-down economics, upwardly mobile, urban planning, women in the workforce, young professional

One human resource executive in a state-owned oil company told me, “Our people are not trained well enough.” He repeated a common joke, “We have great hardware but bad software,” referring to human capital at his company. He told us he was planning to spend more on employee training, because the major problem keeping his company from achieving higher profits was the lack of qualified executives. Young professionals are even willing to pay out of their own pockets to compensate for perceived skill-set deficiencies and to become more competitive for higher bonuses and salaries. Out of several hundred 24- to 28-year-olds in Shanghai, Guangzhou, and Beijing, 70 percent told my firm in 2008 that they would be willing to spend 10 percent or more of their disposable income on extra training and education. An astounding 10 percent responded they would be willing to pay 20 percent or more.

pages: 173 words: 54,729

Occupying Wall Street: The Inside Story of an Action That Changed America by Writers For The 99%


Bay Area Rapid Transit, citizen journalism, collective bargaining, desegregation, feminist movement, income inequality, McMansion, Mohammed Bouazizi, Occupy movement, Port of Oakland, We are the 99%, young professional

The day coincided with ComicCon, a gathering of comic book fanatics from around the nation, and ZombieCon which is, according to its Web site, “a loosely organized group of bloodthirsty zombies” who “gather once a year to attack NYC in a theatrical, absurdist parody of blind consumerism and brainless politics.” Attendees from both conventions joined the demonstrators in full character costume, lending the protest a unique visual flair, as superheroes and zombies mingled easily with the city’s indignant, sign-wielding 99 percent. Along with students, the imaginary and the undead, the Times Square protest drew families with children, workers, the jobless and young professionals. Ilektra Mandragou, a freelance designer, came with her husband, a CUNY graduate student and adjunct professor. She held a sign that said, “I am an immigrant. I came to take your job. But you don’t have one.” As more people joined the crowd, the news crawl over their heads read, “Occupy Wall Street Movement Goes Worldwide,” a reference to the solidarity protests taking place in more than 80 countries that day.

pages: 209 words: 63,649

The Purpose Economy: How Your Desire for Impact, Personal Growth and Community Is Changing the World by Aaron Hurst


3D printing, Airbnb, Atul Gawande, barriers to entry, big-box store, business process, call centre, carbon footprint, citizen journalism, corporate social responsibility, crowdsourcing, disintermediation, Elon Musk, Firefox, glass ceiling, greed is good, housing crisis, informal economy, Jane Jacobs, jimmy wales, Khan Academy, Kickstarter, Lean Startup, means of production, new economy, pattern recognition, Peter Singer: altruism, Peter Thiel, Ray Oldenburg, remote working, Richard Feynman, Ronald Reagan, sharing economy, Silicon Valley, Silicon Valley startup, Steve Jobs, TaskRabbit, Tony Hsieh, too big to fail, underbanked, women in the workforce, young professional, Zipcar

Often, they interact with other innovators. They also tend to have a financial and social cushion that can absorb the potential losses associated with trying something that doesn’t work. Elon Musk is one of these innovators, and he understood what it would take to get that group behind the wheel of an electric car. He would need to design a car that could be compelling enough to act as a status symbol for young professionals in the insular community of Silicon Valley. He knew his audience would be highly technologically literate and very social in both how they bought the car and how they talked about it. He needed a luxury car that would be the “it” car in Silicon Valley. But perhaps as importantly, he would need to find a solution for the incredibly expensive battery technology needed for the car to work. Just the battery for an electric car costs more than double the price of an entry-level car in the market.

pages: 219 words: 63,495

50 Future Ideas You Really Need to Know by Richard Watson


23andMe, 3D printing, access to a mobile phone, Albert Einstein, artificial general intelligence, augmented reality, autonomous vehicles, BRICs, Buckminster Fuller, call centre, clean water, cloud computing, collaborative consumption, computer age, computer vision, crowdsourcing, dark matter, dematerialisation, digital Maoism, Elon Musk, energy security, failed state, future of work, Geoffrey West, Santa Fe Institute, germ theory of disease, happiness index / gross national happiness, hive mind, hydrogen economy, Internet of things, Jaron Lanier, life extension, Marshall McLuhan, megacity, natural language processing, Network effects, new economy, oil shale / tar sands, pattern recognition, peak oil, personalized medicine, phenotype, precision agriculture, profit maximization, RAND corporation, Ray Kurzweil, RFID, Richard Florida, Search for Extraterrestrial Intelligence, self-driving car, semantic web, Skype, smart cities, smart meter, smart transportation, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, strong AI, Stuxnet, supervolcano, telepresence, The Wisdom of Crowds, Thomas Malthus, Turing test, urban decay, Vernor Vinge, Watson beat the top human players on Jeopardy!, web application, women in the workforce, working-age population, young professional

In its place we’re seeing various family blends emerge. Indeed, the traditional family unit is becoming less traditional. However, the key trend isn’t families at all, but people living by themselves. Around 34 percent of people in the UK live alone. In the future, more people will be living alone or with platonic roommates outside traditional married relationships. While many house-sharers are likely to be young professionals, others may be elderly friends, sharing for safety, companionship and cost. Those who do live with their families could be part of a multigenerational cohabitation trend. Think of grandparents moving in to help with childcare or older kids not leaving home, to save money. “Loneliness is the ultimate poverty.” Abigail Van Buren, advice columnist Historically, people generally lived on their own because they were young, widowed or divorced.

pages: 222 words: 60,207

Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup by Andrew Zimbalist


airline deregulation, carbon footprint, East Village,, full employment, Gini coefficient, income inequality, New Urbanism, principal–agent problem, race to the bottom, urban planning, young professional

The docklands light railway was the only form of public transportation connecting part of the area to the central city. By the late 1990s, Canary Wharf, part of the docklands project, had begun to attract financial firms, and subsequently expanded to include other businesses and upscale housing. One study on the docklands project commented that “criticism has focused upon the removal of local democratic controls and the replacement of the existing population by a new, more prosperous group of young professionals…. Tower Hamlets, the borough in which Canary Wharf is located, experienced a significant change in population…. In 1981 the authority had 85 percent council (public) housing and 15 percent private housing and by 2008 nearly 60 percent was private housing.”64 The new Stratford rapid train station and nearby housing are part of a project of the London and Continental Railways that was initiated in 1997.65 Hence, by 2003, when the government decided to pursue its Olympic bid, an extensive transportation plan and related development plan were already in place.

pages: 223 words: 63,484

Making Ideas Happen: Overcoming the Obstacles Between Vision and Reality by Scott Belsky


centralized clearinghouse, index card, lone genius, market bubble, Merlin Mann, New Journalism, Results Only Work Environment, rolodex, side project, Silicon Valley, Steve Jobs, Steve Wozniak, supply-chain management, Tim Cook: Apple, Tony Hsieh, young professional

Originally spawned from a 118-year-old “senior society,” a group of younger alumni started gathering in small groups to share career aspirations and personal challenges. What started years ago as a small experiment for alums to stay in touch has become a little-known global network of hundreds of emerging leaders who meet in small groups—and all together annually—for the sole purpose of sharing ideas, exchanging candid feedback, and fostering a sense of accountability. While most young professionals struggle to depart the security of a traditional career, the membership of this particular network of Cornell University graduates has a strong track record of defying the status quo to launch start-up businesses, found nonprofits, and run for political office much earlier than most. “This network has helped provide me more guts and more guidance,” remarks one member. Like the Forums in YPO, the small regional groups that meet often in this network are yet another example of the power of circles and how they motivate us to take risks and then follow through.

pages: 339 words: 83,725

Fodor's Madrid and Side Trips by Fodor's


Atahualpa, call centre, Francisco Pizarro, glass ceiling, Isaac Newton, traffic fines, young professional

Her fluid dresses and hand-knit sweaters have made her a favorite with Danish former supermodel and now editor and designer Helena Christensen. At Victorio & Lucchino (Lagasca 75, Salamanca | 28001 | 91/431–8786) you can find sophisticated party dresses (many with characteristic Spanish features) in materials such as gauze, silk, and velvet, as well as more casual wear and a popular line of jewelry and accessories. Young professionals who want the latest look without the sticker shock hit Zara for hip clothes that won’t last more than a season or two. The store’s minimalist window displays are hard to miss; inside you’ll find the latest looks for men, women, and children. Zara is self-made entrepreneur Amancio Ortega’s textile empire flagship, and you will find locations all over the city. Its clothes are considerably cheaper in Spain than in the United States or the United Kingdom.

pages: 202 words: 66,742

The Payoff by Jeff Connaughton


algorithmic trading, bank run, banking crisis, Bernie Madoff, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, cuban missile crisis, desegregation, Flash crash, locking in a profit, London Interbank Offered Rate, London Whale, Long Term Capital Management, naked short selling, Plutocrats, plutocrats, Ponzi scheme, risk tolerance, short selling, Silicon Valley, too big to fail, two-sided market, young professional

In Savannah, taste is refined, and I still haven’t seen a house that doesn’t look stylishly furnished and comfortably decorated in soothing colors. The crowd was mainly older people, in their sixties and seventies, but with a tiny smattering of younger people. Everyone was very nice, yet I felt like I’d parachuted into Savannah at an awkward in-between age. I missed the bright young Kaufman staff and DC’s young professional scene. I spoke to the host briefly, a man in his sixties, and his wife, who was an interior designer. We made an appointment for the following week to talk about decorating my house. A week later, I had to postpone our appointment. Before I could reschedule, I ran into one of my neighbors. He told me there was sad news about the party host. I hadn’t heard. The wife, he said, came home and found him.

pages: 252 words: 70,424

The Self-Made Billionaire Effect: How Extreme Producers Create Massive Value by John Sviokla, Mitch Cohen


Cass Sunstein, Colonization of Mars, Daniel Kahneman / Amos Tversky, Elon Musk, Frederick Winslow Taylor, game design, global supply chain, James Dyson, Jeff Bezos, John Harrison: Longitude, Jony Ive, loss aversion, Mark Zuckerberg, market design, paper trading, RAND corporation, randomized controlled trial, Richard Thaler, risk tolerance, self-driving car, Silicon Valley, smart meter, Steve Ballmer, Steve Jobs, Steve Wozniak, Tony Hsieh, Toyota Production System, young professional

PwC colleagues Kate and Abby led the book’s research effort. They located and organized a vast amount of unwieldy, hard-to-find information and managed research teams. Their work provided the foundation for our narrative. Kate and Abby also deftly navigated relationships with other partners across the firm and helped us gain access to a number of the billionaires we interviewed. They epitomize what we look for in young professionals at PwC. Tim Ogden and Laura Starita, respectively the executive partner and managing partner of the communications firm Sona Partners, are themselves a great founding duo. Their mission is to explore “ideas that matter,” and they live up to it. We always knew that we were dealing with not simply fellow writers but thinking partners who had the courage and patience to delve into the ideas, roll them around in the baths of data, compare them with other relevant research, and take the time to get both the thinking and the argument right.

pages: 221 words: 64,080

Different: Escaping the Competitive Herd by Youngme Moon


AltaVista, Atul Gawande, Richard Feynman, Richard Feynman, Saturday Night Live, The Wisdom of Crowds, Thorstein Veblen, young professional

In fact, the entire marketing endeavor had an offbeat, fanciful flavor to it. Promotional materials referred to the AIBO as an autonomous pet with an individualistic personality—literal y, a “mind of its own”—while the advertising copy was infused with a strong tongue-in-cheek inflection. As for the primary target market for the device, it consisted of senior citizens, parents with smal children, and busy young professionals—people who wanted the “fun of a living creature, without the messy inconvenience.” The approach was particularly quirky when you considered the guts of the machine. The AIBO was no cheap plaything—it was priced at a whopping $2,500 (a price that didn’t even cover the company’s cost of production) and it included some pretty hard-core technology: the latest artificial intel igence, a 64-bit RISC processor, a 180,000-pixel color CCD camera with infrared sensors.

pages: 240 words: 73,209

The Education of a Value Investor: My Transformative Quest for Wealth, Wisdom, and Enlightenment by Guy Spier


Albert Einstein, Atul Gawande, Benoit Mandelbrot, big-box store, Black Swan, Checklist Manifesto, Clayton Christensen, Daniel Kahneman / Amos Tversky, Exxon Valdez, Gordon Gekko, housing crisis, Isaac Newton, Long Term Capital Management, Mahatma Gandhi, mandelbrot fractal, NetJets, pattern recognition, pre–internet, random walk, Ronald Reagan, South Sea Bubble, Steve Jobs, winner-take-all economy, young professional

Luckily for me, this isn’t a scientific book, so I don’t have to prove or explain any underlying science (if there is any). But I can tell you authoritatively that, on a subjective level, this has worked for me. The minute I started mirroring Buffett, my life changed. It was as if I had tuned in to a different frequency. My behavior shifted, and I was no longer stuck. So how can you apply these insights? We all know that mentoring is a big deal. Students and young professionals are often told to seek out mentors, just as those of us who are further along are supposed to find people to mentor. That’s all well and good if your heroes are accessible. Mine wasn’t. Buffett wasn’t sitting in his office in Omaha waiting for a call from this tainted graduate of D. H. Blair. Thankfully, this didn’t matter. I could get many—if not all—of the benefits of having him as a mentor by studying him relentlessly, and then imagining what he would have done in my shoes.

I Am Not Myself These Days: A Memoir by Josh Kilmer-Purcell


East Village, index card, young professional

The caterers have been at the apartment most of the afternoon cooking and 83 JOSH KILMER-PURCELL setting up while we’re emptying out my old home. He decided that a party would be a good way for me to meet all his friends and him to meet mine all at once. It’s an interesting guest list. Most of Jack’s friends are other escorts, but he still has several friends from his college school days at Columbia. He quit Columbia halfway through, and many of his friends are grad students or young professionals. I invited several people from the advertising agency as well as assorted drag queens and club kids. Two of Jack’s best friends are Ryan and Grey. They’ve been boyfriends for five years, and Jack has known Grey since they were in Cub Scouts together in California. When Grey first moved to New York, Jack set him up in the escort business, helping him to craft his first ad in the back of HX Magazine, and introducing him to the few escort agencies in New York that deal in male hookers.

pages: 255 words: 75,172

Sleeping Giant: How the New Working Class Will Transform America by Tamara Draut


affirmative action, Affordable Care Act / Obamacare, battle of ideas, big-box store, blue-collar work, collective bargaining, David Brooks, declining real wages, deindustrialization, desegregation, Detroit bankruptcy, Donald Trump, Edward Glaeser, ending welfare as we know it, Ferguson, Missouri, financial deregulation, full employment, immigration reform, income inequality, invisible hand, job satisfaction, knowledge economy, knowledge worker, low skilled workers, minimum wage unemployment, mortgage tax deduction, new economy, obamacare, occupational segregation, payday loans, pink-collar, Plutocrats, plutocrats, profit motive, race to the bottom, Ralph Nader, rent-seeking, rising living standards, Ronald Reagan, The Bell Curve by Richard Herrnstein and Charles Murray, The Wealth of Nations by Adam Smith, trickle-down economics, union organizing, upwardly mobile, War on Poverty, white flight, women in the workforce, young professional

I’ve tried in my writing to emphasize that it’s the entry points into the middle class that have evaporated, focusing on the reality that it is harder now either to work or to educate your way into the middle class. When I wrote my first book, Strapped, which focused on what was happening to young people trying to get ahead in an era of inequality and finance-driven capitalism, I purposefully told the stories of young people who hadn’t finished college. But the media interviews for my book almost exclusively focused on the problems confronting young professionals. There are real issues there, but when you compare those issues—doubling or tripling up in an apartment in a hip neighborhood to afford rent, say—to those of a thirty-something working as a cashier with unstable hours, struggling to find and pay for child care, it’s the mom in a crumbling neighborhood who needs much more of our political attention and public concern. And it’s her challenges that are faced by many more Americans than the issues confronting an upwardly mobile urban professional.

The Economic Singularity: Artificial intelligence and the death of capitalism by Calum Chace


3D printing, additive manufacturing, agricultural Revolution, AI winter, Airbnb, artificial general intelligence, augmented reality, autonomous vehicles, banking crisis, Baxter: Rethink Robotics, Berlin Wall, Bernie Sanders, bitcoin, blockchain, call centre, Chris Urmson, congestion charging, credit crunch, David Ricardo: comparative advantage, Elon Musk,, Erik Brynjolfsson, Flynn Effect, full employment, future of work, gender pay gap, gig economy, Google Glasses, Google X / Alphabet X, income inequality, industrial robot, Internet of things, invention of the telephone, invisible hand, James Watt: steam engine, Jaron Lanier, Jeff Bezos, job automation, John Maynard Keynes: technological unemployment, John von Neumann, Kevin Kelly, knowledge worker, lump of labour, Lyft, Mark Zuckerberg, Martin Wolf, McJob, means of production, Milgram experiment, Narrative Science, natural language processing, new economy, Occupy movement, Oculus Rift, PageRank, pattern recognition, post scarcity, post-industrial society, precariat, prediction markets, QWERTY keyboard, railway mania, RAND corporation, Ray Kurzweil, RFID, Rodney Brooks, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, software is eating the world, speech recognition, Stephen Hawking, Steve Jobs, TaskRabbit, technological singularity, Thomas Malthus, transaction costs, Tyler Cowen: Great Stagnation, Uber for X, universal basic income, Vernor Vinge, working-age population, Y Combinator, young professional

This was aggravated by the recession which began in 2007: the average American family’s net worth fell from $136,000 in 2007 to $81,000 in 2013. Wealth inequality is far more extreme in today’s world than income inequality, both globally and within individual nations. It is also less significant. The charity Oxfam created a stir in January 2016 by claiming that the richest 62 people own as much as the poorest 50% of the world.[cccxxiii] The figure may or may not be correct, but it tells us less than it appears to. A young professional in New York living a life of luxury and excess may have no net assets, but it would be perverse to describe her as poor. Furthermore, if the richest billionaires gave their wealth to the poorest half of the world, it would amount to a one-off payment of few hundred dollars each.[cccxxiv] Nevertheless, if you are one of the lucky minority with substantial net assets, you might be wondering how you will be affected if and when technological unemployment takes hold.

pages: 293 words: 89,712

After Zionism: One State for Israel and Palestine by Antony Loewenstein, Ahmed Moor


Boycotts of Israel, British Empire, cognitive dissonance, colonial rule, facts on the ground, ghettoisation, land reform, Naomi Klein, Ronald Reagan, Rosa Parks, young professional

Today, most of the habitable land in Israel is controlled by these small communities whose admissions committees are designed to weed out “undesirables”: chiefly the country’s Palestinian citizens, but also Jews who are seen as “weak” from a Zionist perspective, such as Middle Eastern Jews, single mothers, gays and the disabled. Rakefet is a modern, middle-class community of eight hundred residents whose spacious, mostly characterless, suburban homes sit on the lower slopes of the rocky hills of the central Galilee. Its name, “cyclamen”, is for the clusters of pretty flowers that adorn these hills in winter. The air is clean, the views magnificent, especially for the young professionals and middle-managers who have chosen to move north to escape the stress and high prices of Tel Aviv and its environs. If the Zbeidats could speak freely, Rakefet is probably not exactly the stuff of their dreams, at least not quite in the manner it is for many of their new Jewish neighbours. In an early interview with the Washington Post, in a rare instance of the foreign media taking an interest in the couple’s plight, Fatina explained: “If they won’t develop our villages, then we will choose where we want to live.

pages: 311 words: 17,232

Living in a Material World: The Commodity Connection by Kevin Morrison


barriers to entry, Berlin Wall, carbon footprint, clean water, commodity trading advisor, diversified portfolio, Doha Development Round, Elon Musk, energy security, European colonialism, flex fuel, food miles, Hernando de Soto, Hugh Fearnley-Whittingstall, hydrogen economy, Long Term Capital Management, new economy, North Sea oil, oil rush, oil shale / tar sands, oil shock, out of africa, peak oil, price mechanism, Ronald Coase, Ronald Reagan, Silicon Valley, sovereign wealth fund, the payments system, The Wealth of Nations by Adam Smith, trade liberalization, transaction costs, uranium enrichment, young professional

When I was a child growing up in Islington in the 1970s, we shared the phone connection in our house with a Turkish Cypriot family down the road. I could always tell when they were on the line because I couldn’t understand a word they were saying. The 1970s ushered in the colour television (black and white TV was invented in the 1930s) and video recorders. Then, in the 1980s the CD player was introduced – 1982 to be exact – and the brick-sized and METALS | 189 very expensive mobile phones, which became synonymous with the rich young professionals – or ‘yuppies’ – of the era. The 1990s brought more slimline mobile phones to a wider audience along with personal computers, digital cameras, DVDs, TV set-top boxes for satellite and cable TV, games consoles and – for the elderly – pacemakers. The 2000s is the era of MP3 players, the iPod, plasma TV, digital TV and digital radio. Innovative design or planned obsolescence means that computers are being updated every couple of years.

pages: 316 words: 91,969

Gray Lady Down: What the Decline and Fall of the New York Times Means for America by William McGowan


affirmative action, Affordable Care Act / Obamacare, corporate governance, David Brooks, East Village, friendly fire, haute couture, illegal immigration, immigration reform, medical residency, New Journalism, obamacare, payday loans, postnationalism / post nation state, pre–internet, uranium enrichment, young professional

Meanwhile, Sulzberger took the concern over trends and age cohorts to a level beyond what drove the Sectional Revolution of the 1970s. The old thinking about the Times was that it “should not be too popular and should not try to be,” as Edwin Diamond phrased it. But as Diamond also explained, market research and focus groups indicated a disturbing trend toward “aliteracy,” with otherwise educated young professionals saying “they had no interest in picking up a copy of the Times.” And it wasn’t just a local problem. In 1967, roughly two-thirds of those between the ages of eighteen and twenty-nine read a newspaper; in 1988 the figure was 29 percent. The research commissioned by the Times showed that the paper was defining itself too narrowly to appeal to an elite that no longer existed in its traditional form.

pages: 376 words: 110,796

Realizing Tomorrow: The Path to Private Spaceflight by Chris Dubbs, Emeline Paat-dahlstrom, Charles D. Walker


Berlin Wall, call centre, desegregation, Donald Trump, Doomsday Book, Elon Musk, high net worth, Iridium satellite, iterative process, Jeff Bezos, Mikhail Gorbachev, multiplanetary species, Richard Feynman, Richard Feynman, Ronald Reagan, Search for Extraterrestrial Intelligence, Silicon Valley, Skype, Steve Jobs, Steve Wozniak, technoutopianism, V2 rocket, X Prize, young professional

Thrilled by the prospect of spaceflight since she was a kid, she could not have been more ecstatic. "After Branson announced it and after having had the first private spacecraft in space, it suddenly just became a lot more attainable and real." Little did she know at the time that within a few months, she would have a reservation on a Virgin Galactic flight. Hidalgo is part of a new generation of young professionals from the postApollo era whose enthusiasm and high energy kick-started a resurgence in space advocacy. Growing up in northern California, starry-eyed and idealistic, she assumed that by the time she was an adult, everyone would have a rocket in the garage. "My whole life, I just assumed I'll get to go. It was never anything I questioned." She thought about applying to the astronaut corps at one point and had pursued an advanced degree in biology to be astronaut eligible, a prerequisite to send in an astronaut application.

Fodor's Dordogne & the Best of Southwest France With Paris by Fodor's Travel Publications Inc.


call centre, glass ceiling, happiness index / gross national happiness, haute couture, haute cuisine, Murano, Venice glass, urban planning, young professional

NIGHTLIFE If you prefer clinking drinks with models and celebrities, check out the Champs-Élysées area, but be prepared to shell out beaucoup bucks and stare down surly bouncers. Easygoing, bohemian-chic revelers can be found in the northeastern districts like Canal St-Martin and Belleville, while students tend to pour into the Bastille, St-Germain-des-Prés, and the Quartier Latin. Grands Boulevards and Rue Montorgueil, just north of Les Halles, is party central for young professionals and the fashion crowd, and the Pigalle and Montmartre areas are always hopping with plenty of theaters, cabarets, bars, and concert venues. Warmer months draw the adventurous to floating clubs and bars, moored along the Seine from Bercy to the Eiffel Tower. BARS AND CLUBS American Bar at La Closerie des Lilas (171 bd. du Montparnasse, Montparnasse, 6e | 75006 | 01–40–51–34–50 | Station: Montparnasse) lets you drink in the swirling action of the adjacent restaurant and brasserie at a piano bar hallowed by plaques honoring such former habitués as Man Ray, Jean-Paul Sartre, Samuel Beckett, and Ernest Hemingway, who talks of “the Lilas” in A Moveable Feast.

pages: 353 words: 98,267

The Price of Everything: And the Hidden Logic of Value by Eduardo Porter


Asian financial crisis, Ayatollah Khomeini, banking crisis, barriers to entry, Berlin Wall, British Empire, capital controls, Carmen Reinhart, Cass Sunstein, clean water, Credit Default Swap, Deng Xiaoping, Edward Glaeser, European colonialism, Fall of the Berlin Wall, financial deregulation, Ford paid five dollars a day, full employment, George Akerlof, Gordon Gekko, guest worker program, happiness index / gross national happiness, housing crisis, illegal immigration, immigration reform, income inequality, income per capita, informal economy, invisible hand, Jean Tirole, John Maynard Keynes: technological unemployment, Kenneth Rogoff, labor-force participation, laissez-faire capitalism, loss aversion, low skilled workers, Martin Wolf, means of production, Menlo Park, Mexican peso crisis / tequila crisis, new economy, New Urbanism, pension reform, Peter Singer: altruism,, placebo effect, price discrimination, price stability, rent-seeking, Richard Thaler, rising living standards, risk tolerance, Robert Shiller, Robert Shiller, Ronald Reagan, Silicon Valley, stem cell, Steve Jobs, Stewart Brand, superstar cities, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, trade route, transatlantic slave trade, transatlantic slave trade, ultimatum game, unpaid internship, urban planning, women in the workforce, World Values Survey, Yom Kippur War, young professional

Analysis of the gender gap in labor participation is found in Bureau of Labor Statistics, “Labor Force Statistics from the Current Population Survey” (, accessed 08/08/2010). The discussion of the gender wage gap draws from Bureau of Labor Statistics, “Women’s to Men’s Earnings Ratio by Age, 2009” (, accessed 08/08/2010). The discussion about the gender gap among MBA graduates comes from Marianne Bertrand, Claudia Goldin, and Lawrence F. Katz, “Dynamics of the Gender Gap for Young Professionals in the Financial and Corporate Sectors,” American Economic Journal: Applied Economics, Vol. 2, No. 3, July 2010, pp. 228-255. 93-97 Renegotiating the Marriage Bargain: The description of changes in women’s attitudes toward career and household work draws from Valerie Ramey, “Time Spent in Home Production in the 20th Century: New Estimates from Old Data,” Journal of Economic History, Vol. 69, No. 1, March 2009, pp. 1-47; Samuel Preston and Caroline Sten Hartnett, “The Future of American Fertility,” NBER Working Paper, November 2008.

pages: 355 words: 106,952

Visit Sunny Chernobyl: And Other Adventures in the World's Most Polluted Places by Andrew Blackwell


carbon footprint, clean water, Google Earth, gravity well, oil rush, oil shale / tar sands, place-making, ride hailing / ride sharing, sensible shoes, Silicon Valley, special economic zone, the scientific method, young professional

Between this and the Chernobyl Museum, I was beginning to discern a Ukrainian national genius for eclecticism. And they sold radiation detectors. PADEKC, said the brand name on the box. NHDNKATOP PADNOAKTNBHOCTN. The device itself was a small, white plastic box with a digital readout and three round buttons. It looked like an early-model iPod, if iPods had been built by PADEKC. It was simple and stylish, perfect for hip, young professionals on the go in a nuclear disaster zone. Leonid—the salesman—assured me that it could measure not only gamma radiation but alpha and beta as well. (Leonid was a liar.) He turned it on. “Russian made,” he said. We crowded around. The unit beeped uncertainly a few times, then popped up a reading of 16. Sounded good to me. I coughed up far too many hryvnia and tossed the PADEKC in my backpack, and we went outside.

Bedsit Disco Queen: How I Grew Up and Tried to Be a Pop Star by Tracey Thorn


Berlin Wall, East Village, greed is good, means of production, Mikhail Gorbachev, Ronald Reagan, University of East Anglia, young professional

As a band, we probably meant more in the US now than we did in the UK, and that was strange, not having a comfortable foothold in the country I lived in. Having to go abroad to feel loved made home feel unwelcoming and alien. Like a lot of groups, we were Big In Japan, and would play much bigger venues there than we could in England. Strange, sedate early-evening gigs, where we’d perform on freezing-cold air-conditioned stages to neatly groomed young professionals who adored us but had no apparent means of showing it. Their responses were confined to a code of behaviour which seemed designed to quash any outpouring of spontaneity or joy. So at the end of each song they would clap hard and rhythmically, but in unison, which made it sound insincere and forced. The applause would stop as abruptly as it started, leaving long silences between one song and the next.

pages: 357 words: 99,684

Why It's Still Kicking Off Everywhere: The New Global Revolutions by Paul Mason


back-to-the-land, balance sheet recession, bank run, banking crisis, Berlin Wall, capital controls, centre right, citizen journalism, collapse of Lehman Brothers, collective bargaining, credit crunch, Credit Default Swap, currency manipulation / currency intervention, currency peg, eurozone crisis, Fall of the Berlin Wall, floating exchange rates, Francis Fukuyama: the end of history, full employment, ghettoisation, illegal immigration, informal economy, land tenure, low skilled workers, means of production, megacity, Mohammed Bouazizi, Naomi Klein, Network effects, New Journalism, Occupy movement, price stability, quantitative easing, race to the bottom, rising living standards, short selling, Slavoj Žižek, Stewart Brand, strikebreaker, union organizing, We are the 99%, Whole Earth Catalog, WikiLeaks, Winter of Discontent, women in the workforce, working poor, working-age population, young professional

But behind the purely economic story lies a more complex, political–economic crisis that threatens to send Spain the same way as Greece, shattering the eurozone in the process and placing the whole European project in grave doubt. You can see how badly the crisis has hit people at the ‘Coralla Utopia’ apartment block. It’s a new, modern, five-storey complex next to a busy road. The flats are small: perfect for young professionals and their minimalist furniture. But the company that built the flats went broke, and now the whole place has been squatted by families turfed out of their own homes, due to repossession. Toni Rodríguez leads me around the darkened corridors (the electricity company has cut the power supply): ‘We had weekly meetings for four months and we realized we were all in the same situation, and finally we decided to do something about it.

pages: 385 words: 101,761

Creative Intelligence: Harnessing the Power to Create, Connect, and Inspire by Bruce Nussbaum


3D printing, Airbnb, Albert Einstein, Berlin Wall, Black Swan, clean water, collapse of Lehman Brothers, Credit Default Swap, crony capitalism, crowdsourcing, Danny Hillis, declining real wages, demographic dividend, Elon Musk,, Eugene Fama: efficient market hypothesis, Fall of the Berlin Wall, follow your passion, game design, housing crisis, Hyman Minsky, industrial robot, invisible hand, James Dyson, Jane Jacobs, Jeff Bezos, jimmy wales, John Gruber, Joseph Schumpeter, Kickstarter, lone genius, manufacturing employment, Mark Zuckerberg, Martin Wolf, new economy, Paul Graham, Peter Thiel, race to the bottom, reshoring, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, Steve Ballmer, Steve Jobs, Steve Wozniak, supply-chain management, Tesla Model S, The Chicago School, The Design of Experiments, the High Line, The Myth of the Rational Market, thinkpad, Tim Cook: Apple, too big to fail, tulip mania, We are the 99%, Y Combinator, young professional, Zipcar

Calls are considered an invasion of privacy and too intimate for a generation that would much rather interact by texting. So you need to “KNOCK.” “KNOCK” was an app that allowed you to request a real-time call via text message. You KNOCK on an acquaintance’s cell phone “door,” say who you are and why you are calling, and offer a choice of times. You can also KNOCK the message forward and connect to others. The students said KNOCK would help struggling young professionals who are unfamiliar with phone etiquette, as well as people generally lacking in social graces. Each group, whether it’s a demographic or a regional or a national group, has its own culture—the groups we create are no exception. Each has its own rituals, shared values, community expectations, and secret “knocks.” Learning what they are is a way of saying, “I respect your values.” It’s also a promise that you have something that might be of value to others.

pages: 320 words: 96,006

The End of Men: And the Rise of Women by Hanna Rosin


affirmative action, call centre, cognitive dissonance, David Brooks, delayed gratification, edge city, facts on the ground, financial independence, hiring and firing, housing crisis, income inequality, informal economy, job satisfaction, low skilled workers, manufacturing employment, meta analysis, meta-analysis, new economy, New Urbanism, Northern Rock, postindustrial economy, purchasing power parity, Results Only Work Environment, Silicon Valley, Steven Pinker, union organizing, upwardly mobile, women in the workforce, young professional

In 2011, researcher Hannah Riley Bowles: Hannah Riley Bowles and Linda Babcock, “Relational Accounts: A Strategy for Women Negotiating for Higher Compensation,” invited resubmission to Organizational Behavior & Human Decision Processes, 2011. describes her own inept attempts at asking: Mika Brzezinski, Knowing Your Value: Women, Money, and Getting What You’re Worth (New York: Weinstein Books, 2011). We know, from a long-term study of Chicago: Marianne Bertrand, Claudia Goldin, and Lawrence F. Katz, “Dynamics of the Gender Gap for Young Professionals in the Financial and Corporate Sectors,” American Economic Journal: Applied Economics 2, no. 3 (2010): 228–255. Do women lack ambition?: Anna Fels, “Do Women Lack Ambition?” Harvard Business Review 9, no. 4 (2004): 50–60. perfectly articulated in a column by Michael Lewis: Michael Lewis, “How to Put Your Wife Out of Business,” Los Angeles Times, March 6, 2005. This is an economy where single childless women: Analysis of Census Bureau American Community Survey data by Reach Advisors’ James Chung and Sally Johnstone, “A Glimpse into the Postcrash Environment,” Urban Land, March/April 2010: “When analyzing the incomes of single women in their 20s compared to single men in their 20s, women earn 105 percent of what their male counterparts earn in the average metropolitan market.”

pages: 273 words: 34,920

Free Market Missionaries: The Corporate Manipulation of Community Values by Sharon Beder


anti-communist, battle of ideas, business climate, corporate governance,, full employment, income inequality, invisible hand, liquidationism / Banker’s doctrine / the Treasury view, minimum wage unemployment, Mont Pelerin Society, new economy, price mechanism, profit motive, Ralph Nader, rent control, risk/return, road to serfdom, Ronald Reagan, school vouchers, shareholder value, structural adjustment programs, The Chicago School, the market place, The Wealth of Nations by Adam Smith, Thomas L Friedman, Torches of Freedom, trade liberalization, traveling salesman, trickle-down economics, Upton Sinclair, Washington Consensus, young professional

It was the blueprint used by the Labour Party when it was elected in 1984 and the programme of restructuring that resulted was dubbed ‘Rogernomics’ (after Roger Douglas).40 Once elected, Douglas’s power in Cabinet was supplemented by two senior politicians of like mind who were made associate ministers of finance – David Caygill and Richard Prebble. These three ministers worked as a team on policy development and strategy, and dominated the Cabinet’s Policy Committee. The team was also represented on all the other policy-making committees. The cabinet was mainly made up of young professionals rather than old-time trade unionists, and Prime Minister David Lange, a lawyer, had little interest in, or knowledge of, economics. Lange accepted his minister’s assurance that the new programme of reforms would deliver social equity as well as economic growth.41 Douglas was recognized for his efforts by the Mont Pèlerin Society in 1989 when it met in NZ. At the time, the partnership between Douglas and Lange had fallen apart over Douglas’s proposal to implement a 23 per cent flat tax.

Devil's Teeth: A True Story of Obsession and Survival Among America's Great White Sharks by Susan Casey


Maui Hawaii, upwardly mobile, young professional

“It’s been twenty-eight days,” he moaned. Russ and Pete looked at each other, ungroomed for weeks, facial hair running amok. “It’s been seventy-eight days!” Russ yelled at the screen. Even so, the five of them were loving their time here, never mind that they had to work fourteen hours at a stretch to keep up with the birds. Simply put, they were happy. There was no whiff of the driven, anxious, upwardly-mobile-or-die young professional. They’d made a career choice that had nothing to do with money and everything to do with the fact that they’d never lost the child’s sense of amazement about nature. It was as though the “career goal” entry on their résumés read: “To stay as far away from an office cubicle as humanly possible.” In the early evening I sat at a desk by the front window of the living room, flipping through old logbooks.

pages: 346 words: 102,666

Infomocracy: A Novel by Malka Older


corporate governance, game design, land tenure, young professional

Tanty lifts her tumbler, swirls it, digs out a strawberry with the swizzle stick. “There are a couple of outliers, but I don’t want to talk about it here.” “Here?” Ken asks, raising his eyebrows and glancing around. They chose this bar not only for its powerful swills but also for the level of noise and the general lack of interest from the patrons in anything other than their own latest-model projectors. Most of the clientele look like young professionals, educated (maybe even foreign-educated) and chic (some of them retro chic). “First of all, this looks like our demographic, or at least more us than a corporate. And secondly, do they even care?” He sighs and drinks. “Which is exactly the problem with our demographic.” “It’s not that clear-cut. These kids all look cool, right?” Tanty flicks some more ash, trying to look cool herself. “Most of them are probably living with their parents.

pages: 363 words: 109,417

Big Dead Place: Inside the Strange and Menacing World of Antarctica by Nicholas Johnson


job satisfaction, Milgram experiment, Ronald Reagan, telerobotics, trade route, young professional

I had never contributed money to him but, in a political studies class in high school, our teacher had told us to volunteer for a political campaign, and I didn’t hesitate in my choice to work for the Senator: I had been haunted for years by the Senator’s vein-hewn skull, the half-lidded roving tumors that dwelled within cavernous eye sockets that seemed big enough to receive endless buckets of golf balls, and by his smile, which looked like a compound fracture. In a house-basement in the suburbs I stuffed envelopes for the Senator’s campaign with a friendly woman who openly hated Democrats and carefully disliked Mexicans. A young professional guy with a white shirt and tie came in occasionally to stuff a few envelopes, but mainly just to soak up the action. His shirtsleeves were rolled up and the smell of wet envelope glue seemed to excite him. Our little campaign outpost was furnished only with tables and chairs and phones, the bare essentials of groveling for funding. But though we were small, we were part of a large and noble organism; there were thousands of us all over the state, huddled in basements like this one, doing our part to plead for money for the ghoulish Senator.

pages: 440 words: 108,137

The Meritocracy Myth by Stephen J. McNamee


affirmative action, Affordable Care Act / Obamacare, Bernie Madoff, British Empire, collective bargaining, computer age, conceptual framework, corporate governance, deindustrialization, delayed gratification, demographic transition, desegregation, deskilling, equal pay for equal work, estate planning, failed state, fixed income, gender pay gap, Gini coefficient, glass ceiling, helicopter parent, income inequality, informal economy, invisible hand, job automation, joint-stock company, labor-force participation, low-wage service sector, marginal employment, Mark Zuckerberg, mortgage debt, mortgage tax deduction, new economy, New Urbanism, obamacare, occupational segregation, pink-collar, Plutocrats, plutocrats, Ponzi scheme, post-industrial society, prediction markets, profit motive, race to the bottom, random walk, school choice, Scientific racism, Steve Jobs, The Bell Curve by Richard Herrnstein and Charles Murray, The Spirit Level, The Wealth of Nations by Adam Smith, too big to fail, trickle-down economics, upwardly mobile, We are the 99%, white flight, young professional

These extra duties off the job may affect performance on the job. Despite the image of the “24/7” woman who can have it all and do it all, the reality is that any one person has only a finite amount of time, energy, and attention available. To the extent that women carry these additional burdens more than men, they are at a collective nonmerit disadvantage in the labor force competing with men. Young professionals, especially, work long hours and are often called upon for additional work duties on short notice. It is the fast-track professional on the make who “goes the extra mile” who gets the promotion—not the one who has to rush home immediately after work to take care of the kids, is chronically sleep deprived, or is unavailable to fly off to London over the weekend to seal a deal. In this way, unequal division of household labor creates severe handicaps for women who bear these responsibilities and a distinct nonmerit advantage for men who do not.

Undoing the Demos: Neoliberalism's Stealth Revolution by Wendy Brown


Affordable Care Act / Obamacare, bitcoin, Branko Milanovic, Capital in the Twenty-First Century by Thomas Piketty, collective bargaining, corporate governance, credit crunch, crowdsourcing, David Brooks, Food sovereignty, haute couture, immigration reform, income inequality, invisible hand, labor-force participation, late capitalism, means of production, new economy, obamacare, occupational segregation, Ronald Reagan, shareholder value, sharing economy, The Chicago School, the market place, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, trickle-down economics, Washington Consensus, Wolfgang Streeck, young professional

King Alexander, “Private Institutions and Public Dollars: An Analysis of the Effects of Federal Direct Student Aid on Public and Private Institutions of Higher Education,” Journal of Education Finance 23.3 (1998), pp. 390–416, quoted in David Hursh and Andrew Wall, “Re-politicizing Higher Education and Research Within Neoliberal Globalization,” Policy Futures in Education 9.5 (2011). 39. It would seem that many faculty have departed from the values of the priesthood for those of the market, rendering the notion that “you don’t go into academia for the money” a quaint shibboleth of a tweedy past, one spurned by market-smart young professionals who just happen to study Chaucer or South Asian politics. 40. The tendency of neoliberalism to generate products with zero use value and for which there is often no clientele apart from those in the industry is brilliantly portrayed in the “Xtra Normal” cartoon videos satirizing academe through the figures of eager undergraduates yearning to go to graduate school. While each cartoon indicts the specific absurdities, fetishes, and dead ends of a particular discipline, together, they portray contemporary academic orders of recognition and reward that drive liberal arts scholarship in increasingly trivial or meaningless directions.

pages: 364 words: 99,897

The Industries of the Future by Alec Ross


23andMe, 3D printing, Airbnb, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, blockchain, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, David Brooks, disintermediation, Dissolution of the Soviet Union, distributed ledger, Edward Glaeser, Edward Snowden,, Erik Brynjolfsson, fiat currency, future of work, global supply chain, Google X / Alphabet X, industrial robot, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, knowledge economy, knowledge worker, litecoin, M-Pesa, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, new economy, offshore financial centre, open economy, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Satoshi Nakamoto, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, social graph, software as a service, special economic zone, supply-chain management, supply-chain management software, technoutopianism, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, Y Combinator, young professional

Going through the profiles of 78 members of his staff, I only found one person with so much as a fleck of gray hair. This made me question whether Dan had it totally right, but it’s hard to argue with his success, especially when I have seen plenty of its opposite in Europe. I am utterly convinced that one of the unspoken reasons for France and Mediterranean Europe’s prolonged stagnation is the degree to which young professionals are forced to wait for decades before being given real authority or the early-stage investments necessary to start their own companies. It is not a coincidence that Google, Facebook, Microsoft, Oracle, and countless other information-age companies were started by people in their twenties—and started in the United States. As Dan Wagner says, “I think the United States is very special in the sense that in our culture we have an appreciation for merit and the best idea in the room.

pages: 366 words: 94,209

Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity by Douglas Rushkoff


3D printing, Airbnb, algorithmic trading, Amazon Mechanical Turk, Andrew Keen, bank run, banking crisis, barriers to entry, bitcoin, blockchain, Burning Man, business process, buy low sell high, California gold rush, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, centralized clearinghouse, citizen journalism, clean water, cloud computing, collaborative economy, collective bargaining, colonial exploitation, Community Supported Agriculture, corporate personhood, crowdsourcing, cryptocurrency, disintermediation, diversified portfolio, Elon Musk, Erik Brynjolfsson, ethereum blockchain, fiat currency, Firefox, Flash crash, full employment, future of work, gig economy, Gini coefficient, global supply chain, global village, Google bus, Howard Rheingold, IBM and the Holocaust, impulse control, income inequality, index fund, iterative process, Jaron Lanier, Jeff Bezos, jimmy wales, job automation, Joseph Schumpeter, Kickstarter, loss aversion, Lyft, Mark Zuckerberg, market bubble, market fundamentalism, Marshall McLuhan, means of production, medical bankruptcy, minimum viable product, Naomi Klein, Network effects, new economy, Norbert Wiener, Oculus Rift, passive investing, payday loans, peer-to-peer lending, Peter Thiel, post-industrial society, profit motive, quantitative easing, race to the bottom, recommendation engine, reserve currency, RFID, Richard Stallman, ride hailing / ride sharing, Ronald Reagan, Satoshi Nakamoto, Second Machine Age, shareholder value, sharing economy, Silicon Valley, Snapchat, social graph, software patent, Steve Jobs, TaskRabbit, trade route, transportation-network company, Turing test, Uber and Lyft, Uber for X, unpaid internship, Y Combinator, young professional, Zipcar

As their own marketing research shows, however, they were actually pitting the unique weaknesses of individual investors against themselves, leveraging the investors’ ignorance of the marketplace and its rules, as well as known gaps—what gamers would call “exploits”—in people’s financial psychology.11 The more that financial firms promoted these plans, the more employers were free to drop their pensions and the more workers came to rely exclusively on their own savings plans and market skills. This channeled additional money into the finance industry, which then had funds to spend on marketing for more profitable financial products and on lobbying for less regulation in creating them. In our digital society, we take for granted that retirement is one’s personal responsibility. Young professionals understand that they’re playing a game, competing against one another in the marketplace of jobs as well as that of retirement strategies. As the United States’ manufacturing base declines, fewer young workers expect old-fashioned, long-term guarantees such as pensions, anyway.12 The rise of the 401(k) and concurrent decline in pensions emerged at a propitious moment in American history, when a strain of “free market” fundamentalism had seeped from the Goldwater and Friedman fringes of the Republican Party into the technolibertarian mainstream.

pages: 378 words: 102,966

Affluenza: The All-Consuming Epidemic by John de Graaf, David Wann, Thomas H Naylor, David Horsey


big-box store, Community Supported Agriculture, Donald Trump, Exxon Valdez, financial independence, Ford paid five dollars a day, full employment, greed is good, income inequality, informal economy, invisible hand, Isaac Newton, McMansion, medical malpractice, new economy, Ralph Nader, Ray Oldenburg, Ronald Reagan, Silicon Valley, Simon Kuznets, single-payer health, The Great Good Place, trade route, upwardly mobile, Yogi Berra, young professional

His mom leaves him in the video arcade with a roll of quarters while she makes the rounds of the dozens of shops in the mall. Hours later, on the way home, they stop at Blockbuster’s to rent a couple of movies so Jason won’t complain of boredom that night. Though the day is sunny and warm, unusually so for late fall, even the park in Jason’s upper-middle-class subdivision is devoid of kids. There are plenty of children in this neighborhood of young professionals. But if they’re not shopping, they’re indoors communing with Xbox or the Cartoon Network. It’s a tough choice for Jason, but he’s tired of the games he has, so he turns on the TV. Jason is, admittedly, an imaginary, composite kid. But his experience at the mall is far from atypical. In 1999, according to the National Retail Foundation, Americans spent nearly $200 billion on holiday gifts, more than $850 per consumer.

pages: 324 words: 93,175

The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home by Dan Ariely


Burning Man, business process, cognitive dissonance, corporate governance, Daniel Kahneman / Amos Tversky, endowment effect, Exxon Valdez, first-price auction, Frederick Winslow Taylor, George Akerlof, happiness index / gross national happiness, Jean Tirole, job satisfaction, knowledge economy, knowledge worker, loss aversion, Peter Singer: altruism, placebo effect, Richard Thaler, Saturday Night Live, second-price auction, software as a service, The Wealth of Nations by Adam Smith, ultimatum game, Upton Sinclair, young professional

Interoffice romances are generally inadvisable, if not prohibited. Most young people change jobs frequently, so they uproot themselves, yet again disrupting their social lives. With every move, their developing direct and indirect relationships are curtailed—which further hurts their chances of finding someone, because friends often introduce one another to prospective mates. Overall, this means that the improvement in the market efficiency for young professionals has come, to a certain extent, at the cost of market inefficiency for young romantic partners. Enter Online Dating I was troubled by the difficulties of Seth and some other friends until the advent of online dating. I was very excited to hear about sites like, eHarmony, and “What a wonderful fix to the problem of the singles market,” I thought. Curious about how the process worked, I delved into the world of online dating sites.

pages: 291 words: 90,200

Networks of Outrage and Hope: Social Movements in the Internet Age by Manuel Castells


access to a mobile phone, banking crisis, call centre, centre right, citizen journalism, cognitive dissonance, collective bargaining, conceptual framework, crowdsourcing, currency manipulation / currency intervention, disintermediation,, housing crisis, income inequality, microcredit, Mohammed Bouazizi, Occupy movement, offshore financial centre, Port of Oakland, social software, statistical model, We are the 99%, web application, WikiLeaks, World Values Survey, young professional

Yet, I have been able to use some preliminary results from what appears to be a reliable data source: the online survey coordinated by MIT’s Sasha Costanza-Chock and the Occupy Research Network4 of Occupy activists in the country. I have also compared his data with the findings of Baruch College’s Hector Cordero-Guzman’s non-representative sample of visitors to On the basis of these surveys, and personal observation from participants in the movement, it appears that the majority of those fully engaged in most camps were young professionals and students in the 20–40 age group, with a slightly higher percentage of women than men. About one half of them had a full-time job, with a significant number being unemployed, underemployed, temporarily employed or employed part-time. The income level of the majority seemed to be around the median income level of Americans. They were an educated group, with half of them holding a college degree, and many more having finished some college.

pages: 283 words: 85,824

The People's Platform: Taking Back Power and Culture in the Digital Age by Astra Taylor


A Declaration of the Independence of Cyberspace, Andrew Keen, barriers to entry, Berlin Wall, big-box store, Brewster Kahle, citizen journalism, cloud computing, collateralized debt obligation, Community Supported Agriculture, conceptual framework, corporate social responsibility, cross-subsidies, crowdsourcing, David Brooks, digital Maoism, disintermediation, don't be evil, Donald Trump, Edward Snowden, Fall of the Berlin Wall, Filter Bubble, future of journalism, George Gilder, Google Chrome, Google Glasses, hive mind, income inequality, informal economy, Internet Archive, Internet of things, invisible hand, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, Julian Assange, Kevin Kelly, Kickstarter, knowledge worker, Mark Zuckerberg, means of production, Naomi Klein, Narrative Science, Network effects, new economy, New Journalism, New Urbanism, Nicholas Carr, oil rush, Peter Thiel, Plutocrats, plutocrats, pre–internet, profit motive, recommendation engine, Richard Florida, Richard Stallman, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, slashdot, Slavoj Žižek, Snapchat, social graph, Steve Jobs, Stewart Brand, technoutopianism, trade route, Whole Earth Catalog, WikiLeaks, winner-take-all economy, Works Progress Administration, young professional

The ideology of Web 2.0 “trumpets the radical principles of counter-cultural movements, but dampens them through the emphasis on profit and business context.”58 Where networks could conceivably be used to further more democratic and egalitarian connections, Web 2.0 applications too often “further a view of the self and relationships that is entirely in line with current corporate business models,” Marwick says. “Young professionals adopt self-consciously constructed personae which are marketed, like brands or celebrities, to an audience or fan base. These personas are highly edited, controlled, and monitored, conforming to ideals of a work-safe, commercial self presentation.” Combining the logics of engineering and capitalism, the self has become measurable and maximizable, tallied through metrics such as the number of contacts and Web hits, retweets and reblogs, five-stars, ratings, likes, notes, and comments.

pages: 302 words: 83,116

SuperFreakonomics by Steven D. Levitt, Stephen J. Dubner


agricultural Revolution, airport security, Andrei Shleifer, Atul Gawande, barriers to entry, Bernie Madoff, call centre, clean water, cognitive bias, collateralized debt obligation, credit crunch, Daniel Kahneman / Amos Tversky, deliberate practice, disintermediation, endowment effect, experimental economics, food miles, indoor plumbing, John Nash: game theory, Joseph Schumpeter, loss aversion, Louis Pasteur, market design, microcredit, Milgram experiment, oil shale / tar sands, patent troll, presumed consent, price discrimination, principal–agent problem, profit motive, randomized controlled trial, Richard Feynman, Richard Feynman, Richard Thaler, South China Sea, Stephen Hawking, The Wealth of Nations by Adam Smith, too big to fail, trickle-down economics, ultimatum game, urban planning, women in the workforce, young professional

Bishop, “Is the Test Score Decline Responsible for the Productivity Growth Decline,” American Economic Review 79, no. 1 (March 1989). EVEN TOP WOMEN EARN LESS: See Justin Wolfers, “Diagnosing Discrimination: Stock Returns and CEO Gender,” Journal of the European Economic Association 4, nos. 2–3 (April-May 2006); and Marianne Bertrand, Claudia Goldin, and Lawrence F. Katz, “Dynamics of the Gender Gap for Young Professionals in the Financial and Corporate Sectors,” National Bureau of Economic Research working paper, January 2009. DO MEN LOVE MONEY THE WAY WOMEN LOVE KIDS? The cash-incentive gender-gap experiment was reported in Roland G. Fryer, Steven D. Levitt, and John A. List, “Exploring the Impact of Financial Incentives on Stereotype Threat: Evidence from a Pilot Study,” AEA Papers and Proceedings 98, no. 2 (2008).

pages: 1,335 words: 336,772

The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow


bank run, banking crisis, Big bang: deregulation of the City of London, Bolshevik threat, Boycotts of Israel, Bretton Woods, British Empire, California gold rush, capital controls, collective bargaining, Etonian, financial deregulation, German hyperinflation, index arbitrage, interest rate swap, margin call, Monroe Doctrine, North Sea oil, oil shale / tar sands, paper trading, Plutocrats, plutocrats, Robert Gordon, Ronald Reagan, short selling, strikebreaker, the market place, the payments system, too big to fail, transcontinental railway, Yom Kippur War, young professional

Morgan Grenfell also created new “assistant directors”—a seemingly petty organizational detail that for the first time allowed commoners to ascend into the formerly closed caste of directors: the senior partner, Viscount Harcourt, wanted to end the rigor mortis. In 1967, right before the second Lord Bicester—the jolly Rufie—died in a road accident, Harcourt recruited the virile Sir John Stevens, executive director of the Bank of England, to open up overseas outposts. Among its young professionals, Morgan Grenfell’s stodgy reputation bred an exaggerated thirst for freedom. In 1967, Stephen Catto, the former partner’s son, invited film producer Dimitri de Grunwald for lunch at 23 Great Winchester. De Grunwald had a brainstorm: if distributors could finance film production through a global consortium, they could shatter America’s monopoly in filmmaking; he denied that only Americans could make westerns.

“Maybe I’m naive,” he said, “but I think the day of partners swapping that kind of information is long gone.”8 Baldwin wasn’t cavalier about ethics, but he placed extraordinary faith in the power of so-called Chinese walls to insulate Greenhill’s operation from the rest of the firm. Morgan Stanley tried to throw the fear of God into merger specialists and monitored their activities closely. Briefed on legal and ethical issues, young professionals had to sign statements that they understood house rules. To foster a healthy paranoia about using inside information for personal gain, scare memos listing grounds for dismissal were circulated periodically. Oil analyst Barry Good remarked, “I have visions of someone stalking into my office to rip the epaulettes off my shoulders, break my calculator over his knee and drum me right out of the corps.”9 Every fortnight, security officers conducted electronic sweeps, and projects were camouflaged with the names of English kings or Greek philosophers.

Mackworth-Young and Reeves presided with a light hand over their circus of takeover prima donnas. The Seeligs and the Magans had great power in the firm, for they captured new clients; the old taboo about poaching clients was fading. Morgan Grenfell had an individualistic culture very unlike the team spirit drilled into recruits at Morgan Guaranty, S. G. Warburg, and Goldman, Sachs. Not surprisingly, it encouraged a flamboyant, free-wheeling star system among its young professionals, who became recognizable figures in London, like pop stars. But such freedom, if conducive to inventive takeover work, could also induce a perilous euphoria, a giddy sense of invulnerability. The group’s superstar was Roger Seelig. In a more innocent age, his background might have fitted him for tamer pursuits. In 1971, after taking a degree from the London School of Economics and working at Esso, Seelig joined Morgan Grenfell.

pages: 2,020 words: 267,411

Lonely Planet Morocco (Travel Guide) by Lonely Planet, Paul Clammer, Paula Hardy


air freight, Airbnb, call centre, car-free, carbon footprint, clean water, illegal immigration, place-making, Skype, spice trade, sustainable-tourism, trade route, urban planning, urban sprawl, women in the workforce, working poor, young professional

The blend of old-world character and stylish contemporary design is reflected in the excellent menu of interesting variations on tajine, couscous, pastilla, and grilled meat and fish. Agdal Galapagos Café CAFE € OFFLINE MAP GOOGLE MAP (14 Blvd al-Amir Fal Ould Omar) Slick cafe-terrace with dark-wood panelling, contemporary furniture and floor-to-ceiling windows. It’s popular with young professionals for its ice cream, pizzas, panini and people-watching. Bert’s CAFE €€ OFFLINE MAP GOOGLE MAP ( 0802 00 07 07; cnr Ave de France & Rue Melouya) This very stylish cafe in smart Agdal dishes up a seasonal menu of vitamin-packed salads and sandwiches, very special desserts and fresh fruit juices, and they deliver from 8am to 10pm Monday to Saturday. L’Entrecôte FRENCH €€€ OFFLINE MAP GOOGLE MAP ( 0537 67 11 08; 74 Blvd al-Amir Fal Ould Omar; mains Dh180; lunch & dinner) The menu and attitude at this upmarket, old-style restaurant in Agdal are very French, but the dark woods and rough plaster are more reminiscent of Bavaria than Bordeaux.

Dinner For a hearty change of pace from salads and couscous, try a vegetarian pasta (anything with eggplant is especially tasty) or omelette (usually served with thick-cut fries). If you’re staying in a Moroccan guesthouse, before you leave in the morning you can usually request a vegetarian tajine made to order with market-fresh produce. Pity you can’t do that at home, right? L’Asha (Dinner) Dinner in Morocco doesn’t usually start until around 8pm or 9pm, after work and possibly a sunset stroll. Most Moroccans eat dinner at home, but you may notice young professionals, students and bachelors making a beeline for the local snak or pizzeria. In winter you’ll see vendors crack open steaming vats of harira – a hearty soup with a base of tomatoes, onions, saffron and coriander, often with lentils, chickpeas and/or lamb. Dinner at home may often be harira and lunch leftovers, with the notable exception of Ramadan and other celebrations. Top chefs consult Paula Wolfert’s Couscous and Other Good Food from Morocco, which includes 20 tantalising recipes for the titular dish; it won the 2008 James Beard Cookbook Hall of Fame Award.

pages: 468 words: 145,998

On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry M. Paulson


asset-backed security, bank run, banking crisis, Bretton Woods, collateralized debt obligation, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, Doha Development Round, fear of failure, financial innovation, housing crisis, income inequality, London Interbank Offered Rate, Long Term Capital Management, margin call, moral hazard, Northern Rock, price discovery process, price mechanism, regulatory arbitrage, Ronald Reagan, Saturday Night Live, short selling, sovereign wealth fund, technology bubble, too big to fail, trade liberalization, young professional

And that derringer is Chuck Colson.” I ended up, of course, being disappointed in Ehrlichman, who served time in prison for perjury, conspiracy, and obstruction of justice; Colson was convicted of obstruction of justice. Seeing men who were one day on top of the world and in jail the next taught me an enduring life lesson: never be awed by title or position. Later, I would frequently caution young professionals never to do something they believed was wrong just because a boss had ordered it. I didn’t spend a lot of time with Nixon, but I got along fine with him when I did. He liked athletes and enjoyed working with young people. I was not smooth, and I occasionally interrupted him out of eagerness to get my point in, but he didn’t take offense. When I was getting ready to leave my post in December 1973, I was called in to see the president.

pages: 598 words: 140,612

Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier by Edward L. Glaeser


affirmative action, Andrei Shleifer, Berlin Wall, British Empire, Broken windows theory, carbon footprint, Celebration, Florida, clean water, congestion charging, declining real wages, desegregation, diversified portfolio, Edward Glaeser, endowment effect, European colonialism, financial innovation, Frank Gehry, global village, Guggenheim Bilbao, haute cuisine, Home mortgage interest deduction, James Watt: steam engine, Jane Jacobs, job-hopping, John Snow's cholera map, Mahatma Gandhi, McMansion, megacity, mortgage debt, mortgage tax deduction, New Urbanism, place-making, Ponzi scheme, Potemkin village, Ralph Waldo Emerson, rent control, RFID, Richard Florida, Rosa Parks, school vouchers, Seaside, Florida, Silicon Valley, Skype, smart cities, Steven Pinker, strikebreaker, the built environment, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, trade route, transatlantic slave trade, upwardly mobile, urban planning, urban renewal, urban sprawl, William Shockley: the traitorous eight, Works Progress Administration, young professional

He noted that “racing men” believe that “the value of a pace,” or competitor, shaves twenty to thirty seconds off the time of a mile. To rigorously test the value of human proximity, he got forty children to compete at spinning fishing reels to pull a cable. In all cases, the kids were supposed to go as fast as they could, but most of them, especially the slower ones, were much quicker when they were paired with another child. Modern statistical evidence finds that young professionals today work longer hours if they live in a metropolitan area with plenty of competitors in their own occupational niche. Supermarket checkouts provide a particularly striking example of the power of proximity. As anyone who has been to a grocery store knows, checkout clerks differ wildly in their speed and competence. In one major chain, clerks with differing abilities are more or less randomly shuffled across shifts, which enabled two economists to look at the impact of productive peers.

pages: 487 words: 151,810

The Social Animal: The Hidden Sources of Love, Character, and Achievement by David Brooks


Albert Einstein, asset allocation, Atul Gawande, Bernie Madoff, business process, Cass Sunstein, choice architecture, clean water, Daniel Kahneman / Amos Tversky, David Brooks, delayed gratification, deliberate practice, disintermediation, Donald Trump, Douglas Hofstadter, Emanuel Derman,, fear of failure, financial deregulation, financial independence, Flynn Effect, George Akerlof, Henri Poincaré, hiring and firing, impulse control, invisible hand, Joseph Schumpeter, labor-force participation, loss aversion, medical residency, meta analysis, meta-analysis, Monroe Doctrine, Richard Thaler, risk tolerance, Robert Shiller, Robert Shiller, school vouchers, six sigma, Steve Jobs, Steven Pinker, the scientific method, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, transaction costs, Walter Mischel, young professional

And the first thing you should know about these soon-to-be parents is that they were both good-hearted, but sort of shallow—even though their son would go on to be intellectually ambitious and sort of profound. They had been drawn to this resort community by the gravitational pull of Composure Class success, which they someday hoped to join. They were staying in group homes with other aspiring young professionals, and a blind lunch date had been arranged by a mutual friend. Their names were Rob and Julia, and they got their first glimpse of each other in front of a Barnes & Noble. Rob and Julia smiled broadly at each other as they approached, and a deep, primeval process kicked in. Each saw different things. Rob, being a certain sort of man, took in most of what he wanted to know through his eyes.

pages: 365 words: 120,105

Why Do I Love These People?: Understanding, Surviving, and Creating Your Own Family by Po Bronson


Asperger Syndrome, estate planning, South of Market, San Francisco, working poor, young professional

They like it. Only a small part of the world values independence: the United States, England, and the Nordic countries. And the extent of the difference is dramatic. In Denmark 75 percent of young people will leave home by the age of twenty-five. That's ten times the percentage of Italians. America stands out as the land of individualism, as one huge ice-cold Standing House. Its cities are full of young professionals whose identity is defined far more by their job than by the family they rarely see. Andy's life embodies this trade-off. His kids are all independently successful, but they're not around. For a long time I tried to see the tragedy in it, envisioning Andy as an isolated King Lear, but his personality is too sunny for the part. He loves all his children, and he has a relationship with each of them.

pages: 618 words: 159,672

Fodor's Rome: With the Best City Walks and Scenic Day Trips by Fodor's Travel Publications Inc.


call centre, Donald Trump, glass ceiling, haute couture, haute cuisine, Honoré de Balzac, Johann Wolfgang von Goethe, Mason jar, Murano, Venice glass, urban planning, young professional

It’s also the city’s fashion epicenter, housing the likes of the Valentino and Fendi headquarters. Workday lunchtime offerings include classic trattorias and chic caffè like Café Canova-Tadolini (Via del Babuino 150A | 06/32110702), where you can get a nibble, salad, or plate of pasta in a gorgeous sculpture atelier setting. Come sundown, the options increase as modern trattoria-pizzerias like ’Gusto and ReCafé throng with tastemakers and young professionals. Perennial hot spots include Nino and Dal Bolognese. And the upscale hotels in the area—the Hassler, Hotel Eden, and Hotel de Russie—offer great aperitivi in their distinguished bars. EMPIRE OF “TASTE” When ’Gusto (Piazza Agusto Imperatore 9 | 06/3226273) opened in the late ‘90s, the concept was new to Rome: a sprawling ground-floor pizzeria, a wine bar with nibbles, and an upstairs upscale restaurant, all in one space.

pages: 446 words: 138,827

What Should I Do With My Life? by Po Bronson


back-to-the-land, Berlin Wall, clean water, double entry bookkeeping, Exxon Valdez, financial independence, high net worth, job satisfaction, Menlo Park, microcredit, new economy, Silicon Valley, South of Market, San Francisco, special economic zone, telemarketer, traffic fines, young professional

Well, I eventually learned to work with the material at hand. I’ll tell one story for now. Everyone has a “My job was soooo bad . . .” story. Here’s mine. It was my first job out of college. I slipped into a navy wool suit and rode the bus downtown every morning, saluted the chipper security guard, rode up to the twenty-second floor, strolled past the window offices, and eventually took my seat in the back row in a gray windowless room of twelve young professionals my age. My employer was a litigation consulting firm—supposedly a blend of the best of law and the best of management consulting. I’d fought for an interview, and fought harder to get hired. It was the perfect setup job for law school or business school. That wasn’t my plan (I don’t think I had a plan), but it suggests the high reputation this firm had. The image was not the reality. Our client was a large utility, which was suing the State of California for reimbursement of the $5 billion it spent building two nuclear reactors in San Luis Obispo.

pages: 542 words: 132,010

The Science of Fear: How the Culture of Fear Manipulates Your Brain by Daniel Gardner


Atul Gawande, availability heuristic, Black Swan, Cass Sunstein, citizen journalism, cognitive bias, cognitive dissonance, Columbine, correlation does not imply causation, Daniel Kahneman / Amos Tversky, David Brooks, Doomsday Clock, feminist movement, haute couture, hindsight bias, illegal immigration, medical residency, Mikhail Gorbachev, millennium bug, mutually assured destruction, nuclear winter, placebo effect, Ralph Nader, RAND corporation, Ronald Reagan, Stephen Hawking, Steven Levy, Steven Pinker, the scientific method, Tunguska event, uranium enrichment, Y2K, young professional

In November 2006, the Food and Drug Administration lifted the ban on silicone breast implants. The devices can rupture and cause pain and inflammation, the FDA noted, but the very substantial evidence to date does not indicate that they pose a risk of disease. Anti-implant activists were furious. They remain certain that silicone breast implants are deadly, and it seems nothing can convince them otherwise. 6 The Herd Senses Danger You are a bright, promising young professional and you have been chosen to participate in a three-day project at the Institute of Personality Assessment and Research at the University of California in sunny Berkeley. The researchers say they are interested in personality and leadership and so they have brought together an impressive group of one hundred to take a closer look at how exemplary people like you think and act. A barrage of questions, tests, and experiments follows, including one exercise in which you are asked to sit in a cubicle with an electrical panel.

pages: 499 words: 152,156

Age of Ambition: Chasing Fortune, Truth, and Faith in the New China by Evan Osnos


conceptual framework, crony capitalism, currency manipulation / currency intervention, David Brooks, Deng Xiaoping, East Village, financial independence, Gini coefficient, income inequality, indoor plumbing, land reform, Lao Tzu, low skilled workers, market fundamentalism, Mohammed Bouazizi, Plutocrats, plutocrats, rolodex, Silicon Valley, South China Sea, sovereign wealth fund, special economic zone, Steve Jobs, transcontinental railway, Washington Consensus, Xiaogang Anhui farmers, young professional

In fact, anyone who took a few steps to get on a proxy server could discover as much about Tiananmen as he chose to learn. And yet many young Chinese had adopted the Party’s message that the 1989 movement was misguided and naïve. “We accept all the values of human rights, of democracy,” Tang Jie told me. “We accept that. The issue is how to realize it.” * * * I met dozens of urbane students and young professionals that spring, and we often got to talking about Tiananmen Square. In a typical conversation, one college senior asked me whether she should interpret the killing of protesters at Kent State in 1970 as a fair measure of American freedom. Liu Yang, a graduate student in environmental engineering, said, “June Fourth could not and should not succeed at that time. If June Fourth had succeeded, China would be worse and worse, not better.”

pages: 434 words: 150,773

When the Iron Lady Ruled Britain by Robert Chesshyre


Berlin Wall, Big bang: deregulation of the City of London, British Empire, deskilling, Etonian, Fall of the Berlin Wall, financial deregulation, full employment, housing crisis, manufacturing employment, means of production, North Sea oil, oil rush, Plutocrats, plutocrats, Ronald Reagan, school choice, Silicon Valley, the market place, trickle-down economics, union organizing, young professional

It was Tory ‘wet’ talk from a disillusioned man. As we parted he asked me what I thought of proportional representation, which, after having been rebuffed for safe Conservative seats, he obviously thought was the only way an Asian such as he was going to get into Westminster. Mr Vala’s chosen Asian parliamentary candidate was Mrs Zerbanoo Gifford, then the Liberal candidate for Harrow East. He and some other young professionals had formed a small group to advance her campaign. Mrs Gifford is scarcely the typical ‘immigrant’ – perhaps less so even than Major Saroop. She is, for a start, a Zoroastrian Parsee – her father is president of the world Zoroastrian movement. She was brought up largely in English hotels owned by her father – ‘a good preparation for public life: you’re on duty twenty-four hours a day when you live in a hotel.

pages: 386 words: 122,595

Naked Economics: Undressing the Dismal Science (Fully Revised and Updated) by Charles Wheelan


affirmative action, Albert Einstein, Andrei Shleifer, barriers to entry, Berlin Wall, Bernie Madoff, Bretton Woods, capital controls, Cass Sunstein, central bank independence, clean water, collapse of Lehman Brothers, congestion charging, Credit Default Swap, crony capitalism, currency manipulation / currency intervention, Daniel Kahneman / Amos Tversky, David Brooks, demographic transition, diversified portfolio, Doha Development Round, Exxon Valdez, financial innovation, floating exchange rates, George Akerlof, Gini coefficient, Gordon Gekko, greed is good, happiness index / gross national happiness, Hernando de Soto, income inequality, index fund, interest rate swap, invisible hand, job automation, Joseph Schumpeter, Kenneth Rogoff, libertarian paternalism, low skilled workers, lump of labour, Malacca Straits, market bubble, microcredit, money: store of value / unit of account / medium of exchange, Network effects, new economy, open economy, presumed consent, price discrimination, price stability, principal–agent problem, profit maximization, profit motive, purchasing power parity, race to the bottom, RAND corporation, random walk, rent control, Richard Thaler, rising living standards, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, school vouchers, Silicon Valley, Silicon Valley startup, South China Sea, Steve Jobs, The Market for Lemons, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, transaction costs, transcontinental railway, trickle-down economics, urban sprawl, Washington Consensus, Yogi Berra, young professional

This is the pie-slicing question. In 2000, I was assigned by The Economist to write a story on poverty in America. With the economy still booming, I sought some way to express the striking dichotomy between America’s rich and poor. I found it right outside the front door of my office building: A stroll down Wacker Drive, in Chicago, offers an instant snapshot of America’s surging economy. Young professionals stride along, barking orders into mobile phones. Shoppers stream towards the smart shops on Michigan Avenue. Construction cranes tower over a massive new luxury condominium building going up on the horizon. All is bustle, glitter and boom. But there is a less glamorous side to Wacker Drive, literally below the surface. Lower Wacker is the subterranean service road that runs directly beneath its sophisticated sister, allowing delivery trucks to make their way through the bowels of the city.

pages: 525 words: 116,295

The New Digital Age: Transforming Nations, Businesses, and Our Lives by Eric Schmidt, Jared Cohen


3D printing, access to a mobile phone, additive manufacturing, airport security, Amazon Mechanical Turk, Amazon Web Services, anti-communist, augmented reality, Ayatollah Khomeini, barriers to entry, bitcoin, borderless world, call centre, Chelsea Manning, citizen journalism, clean water, cloud computing, crowdsourcing, data acquisition, Dean Kamen, Elon Musk, failed state, fear of failure, Filter Bubble, Google Earth, Google Glasses, hive mind, income inequality, information trail, invention of the printing press, job automation, Julian Assange, Khan Academy, Kickstarter, knowledge economy, Law of Accelerating Returns, market fundamentalism, means of production, mobile money, mutually assured destruction, Naomi Klein, offshore financial centre, peer-to-peer lending, personalized medicine, Peter Singer: altruism, Ray Kurzweil, RFID, self-driving car, sentiment analysis, Silicon Valley, Skype, Snapchat, social graph, speech recognition, Steve Jobs, Steven Pinker, Stewart Brand, Stuxnet, The Wisdom of Crowds, upwardly mobile, Whole Earth Catalog, WikiLeaks, young professional, zero day

They’ll depict the large institutional actors as lumbering, inefficient and out of touch, with high overheads, large staffs and impersonal qualities, promising instead to bring donors much closer to the recipients of aid by cutting out the middlemen. For new potential donors looking to contribute, this promise of directness will be a particularly attractive selling point since connectivity ensures that many of them will feel personally involved in the crisis already. The concerned and altruistic young professional in Seattle with a few dollars to spare will not just “witness” every future disaster but will also be bombarded with ways to help. His inbox, Twitter feed, Facebook profile and search results will be clogged. He’ll be overwhelmed but he will comb through the options and attempt to make a fast but serious judgment call based on what he sees—which group has the best-looking website, the most robust social-media presence, the highest-profile supporters.

pages: 368 words: 145,841

Financial Independence by John J. Vento


Affordable Care Act / Obamacare, Albert Einstein, asset allocation, diversification, diversified portfolio, estate planning, financial independence, fixed income, high net worth, Home mortgage interest deduction, mortgage debt, mortgage tax deduction, oil shock, Own Your Own Home, passive income, risk tolerance, time value of money, transaction costs, young professional, zero day

Both Peter and Suzanne Ellis were physicians who had recently completed their residencies and were about to embark on their careers. Peter was an internist, and Suzanne was a gynecologist and pediatrician. At the time we met, both Peter and Suzanne had found positions in existing practices. Of course, they were no longer interns, but they were the low doctors on the totem pole in their respective practices, and, like most young professionals, had much to learn. Nevertheless, one of their dreams was to set up a full-service family practice where they would work together, and they wished to make that happen as soon as possible. Peter and Suzanne were eager to talk to me because they had some fears about the fact that they were starting their professional and married lives with a combined debt caused by student loans of Financial Independence ( Getting to Point X ) : An Advisor’s Guide to Comprehensive W ealth Management © 2013 John Vento..

pages: 422 words: 131,666

Life Inc.: How the World Became a Corporation and How to Take It Back by Douglas Rushkoff


affirmative action, Amazon Mechanical Turk, banks create money, big-box store, Bretton Woods, car-free, colonial exploitation, Community Supported Agriculture, complexity theory, computer age, corporate governance, credit crunch, currency manipulation / currency intervention, David Ricardo: comparative advantage, death of newspapers, don't be evil, Donald Trump, double entry bookkeeping, easy for humans, difficult for computers, financial innovation, Firefox, full employment, global village, Google Earth, greed is good, Howard Rheingold, income per capita, invention of the printing press, invisible hand, Jane Jacobs, John Nash: game theory, joint-stock company, Kevin Kelly, laissez-faire capitalism, loss aversion, market bubble, market design, Marshall McLuhan, Milgram experiment, moral hazard, mutually assured destruction, Naomi Klein, new economy, New Urbanism, Norbert Wiener, peak oil, place-making, placebo effect, Ponzi scheme, price mechanism, price stability, principal–agent problem, private military company, profit maximization, profit motive, race to the bottom, RAND corporation, rent-seeking, RFID, road to serfdom, Ronald Reagan, short selling, Silicon Valley, Simon Kuznets, social software, Steve Jobs, Telecommunications Act of 1996, telemarketer, The Wealth of Nations by Adam Smith, Thomas L Friedman, too big to fail, trade route, trickle-down economics, union organizing, urban decay, urban planning, urban renewal, Vannevar Bush, Victor Gruen, white flight, working poor, Works Progress Administration, Y2K, young professional

Slowly but surely, an artsy store or two and a clique of hipsters “pioneer” the neighborhood until there’s significant sidewalk activity late into the night, making it safer for successive waves of incoming businesses and residents. Of course, after the city’s newspaper “discovers” the new trendy neighborhood, the artists are joined and eventually replaced by increasingly wealthy but decidedly less hip young professionals, lawyers, and businesspeople—but hopefully not so many that the district completely loses its “flavor.” Investment increases, the district grows bigger, and everyone is happier and wealthier. Still, what happens to the people who lived there from the beginning—the ones whom the police detective was talking about? The “natives”? This process of gentrification does not occur ex nihilo. No, when property values go up, so do the rents, displacing anyone whose monthly living charges aren’t regulated by the government.

pages: 497 words: 130,817

Pedigree: How Elite Students Get Elite Jobs by Lauren A. Rivera


affirmative action, availability heuristic, barriers to entry, Donald Trump, fundamental attribution error, glass ceiling, income inequality, job satisfaction, knowledge economy, meta analysis, meta-analysis, new economy, performance metric, profit maximization, profit motive, school choice, Silicon Valley, Silicon Valley startup, The Wisdom of Crowds, unpaid internship, women in the workforce, young professional

The generally polite nature of these conversations—I rarely saw personal attacks between interviewers or negative comments targeted at an interviewer or his or her opinion—could be influenced by the fact that these evaluators tend not to know each other well, yet could potentially work with their calibration partner in the future. For sociological research on conversational turn-taking norms, see Gibson 2005. 7. Firms that had multiple office locations assigned a specific number of offer slots to each office. Some offices were more desirable than others. Positions in New York and San Francisco—cities that have become hotbeds for recent graduates and young professionals—were in highest demand and thus were the most difficult to get due to fierce competition for a limited number of slots. In general, because of elevated candidate demand, the more desirable the office, the fewer the number of maybes given callbacks or offers. Moreover, there was an iterative relationship between geographic region and school prestige. The most in-demand offices had the most intense competition but also allocated the highest number of positions to the most prestigious schools.

pages: 444 words: 151,136

Endless Money: The Moral Hazards of Socialism by William Baker, Addison Wiggin


Andy Kessler, asset allocation, backtesting, bank run, banking crisis, Berlin Wall, Bernie Madoff, Black Swan, Branko Milanovic, Bretton Woods, BRICs, business climate, capital asset pricing model, corporate governance, correlation does not imply causation, credit crunch, Credit Default Swap, crony capitalism, cuban missile crisis, currency manipulation / currency intervention, debt deflation, Elliott wave,, Fall of the Berlin Wall, feminist movement, fiat currency, fixed income, floating exchange rates, Fractional reserve banking, full employment, German hyperinflation, housing crisis, income inequality, index fund, inflation targeting, Joseph Schumpeter, laissez-faire capitalism, land reform, liquidity trap, Long Term Capital Management, McMansion, moral hazard, mortgage tax deduction, naked short selling, offshore financial centre, Ponzi scheme, price stability, pushing on a string, quantitative easing, RAND corporation, rent control, reserve currency, riskless arbitrage, Ronald Reagan, school vouchers, seigniorage, short selling, Silicon Valley, six sigma, statistical arbitrage, statistical model, Steve Jobs, The Great Moderation, the scientific method, time value of money, too big to fail, upwardly mobile, War on Poverty, Yogi Berra, young professional

Eventually his new “church,” the Wall Street Ministry, would be watered down through renaming to the Wall Street Center, a less provocative appellation. It probably exists no longer, but a search for it turns up help from social workers at the Wall Street Counseling Center. Instead of contemplation, it offers assistance with substance abuse, psychotherapy, and marriage counseling.2 After your first walks about the neighborhood as a young professional on Wall Street, the sense of the past might fade into the background, and as you step, your own thoughts of financial markets cling instead. You remember the digital screen, nowadays two or more, that keeps you focused on what is happening today, this very moment. 6 ENDLESS MONEY More than anything you want insight; the unique arrangement of ups and downs you see are a compelling truth, but they will be forgotten by tomorrow.

Little Failure: A Memoir by Gary Shteyngart


Albert Einstein, anti-communist, Anton Chekhov, East Village, glass ceiling, Gordon Gekko, greed is good, New Journalism, Ronald Reagan, Yom Kippur War, young professional

Yes, my eyes say to nearly every woman who passes, but they only scowl and avert their eyes (No) or smile and look away (No, but thanks for thinking of me). Finally, on a soupy summer day, a young woman walking ahead of me lowers her shorts so that the curve of her posterior is visible. She turns around and flashes a brief, gap-toothed smile. She starts to walk faster. I can barely keep up. There are now several men on her trail, most of them young professionals in suits, all of us silent and needy. Every few blocks, she lowers her shorts a bit more, bringing out little bellows of disbelief from her followers. Suddenly she runs across the street and disappears into a doorway, laughing at us before slamming the door. We look around to discover we are on Avenue D, in the shadow of some fierce-looking projects. This is the farthest I have been from Little Neck, and I am never going back.

pages: 483 words: 134,377

The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor by William Easterly


air freight, Andrei Shleifer, battle of ideas, Bretton Woods, British Empire, business process, business process outsourcing, Carmen Reinhart, clean water, colonial rule, correlation does not imply causation, Daniel Kahneman / Amos Tversky, Deng Xiaoping, desegregation, discovery of the americas, Edward Glaeser,, European colonialism, Francisco Pizarro, fundamental attribution error, germ theory of disease, greed is good, income per capita, invisible hand, James Watt: steam engine, Jane Jacobs, John Snow's cholera map, Joseph Schumpeter, Kenneth Rogoff, M-Pesa, microcredit, Monroe Doctrine, oil shock, place-making, Ponzi scheme, risk/return, road to serfdom, Silicon Valley, Steve Jobs, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, Thomas L Friedman, urban planning, urban renewal, Washington Consensus, World Values Survey, young professional

Today, the Kuomintang, the same Nationalist Party for which the long-forgotten H. D. Fong and the Institute of Pacific Relations had formulated authoritarian development in the 1930s, competes in a multiparty democracy. Economic growth continues to be high. LESSONS OF DEVELOPMENT ON GREENE STREET A short time ago, I had lunch with Naomi Seixas at a café on the corner of Greene and Houston, on the block whose history is covered throughout this book. Naomi is a young professional who works in New York. She is also a descendant of the Seixas family that lived on or near the Greene Street block from the 1830s through the 1850s. She kindly helped me find additional sources on Seixas family history. When Benjamin Mendes Seixas lived at 133 Greene Street in 1850, as noted in Chapter Eight, average income in the United States was one-seventeenth of today’s incomes. The United States in 1850 was roughly at the average income level of Ghana today.

pages: 497 words: 144,283

Connectography: Mapping the Future of Global Civilization by Parag Khanna


1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, complexity theory, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, labour market flexibility, labour mobility, LNG terminal, low cost carrier, manufacturing employment, mass affluent, megacity, Mercator projection, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Peace of Westphalia, peak oil, Peter Thiel, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, Tim Cook: Apple, trade route, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, young professional, zero day

Its mighty rivers could be a key hydropower resource both to electrify the country and to sell power to China and South Korea. The North also produces agricultural staples like rice, corn, soybeans, and potatoes that private equity firms are buying to ride the next wave of international agribusiness. Choson Exchange, the most prominent international nongovernmental organization (NGO) operating in North Korea, is training thousands of young professionals—especially women—in entrepreneurship and workplace skills, even bringing delegations of Western venture capitalists to the country. Even if all the planned ports, special economic zones, industrial parks, real estate developments, mining projects, worker-training programs, and mountain ecotourist parks currently on the drawing board were executed to perfection, fifteen years from now North Korea could at best resemble post-communist Romania, where low-grade industry, farming, and mining remain economic staples.

pages: 570 words: 158,139

Overbooked: The Exploding Business of Travel and Tourism by Elizabeth Becker


airport security, Asian financial crisis, barriers to entry, Berlin Wall, BRICs, car-free, carbon footprint, clean water, collective bargaining, colonial rule, computer age, corporate governance, Costa Concordia, Deng Xiaoping, European colonialism, Exxon Valdez, Fall of the Berlin Wall, Frank Gehry, global village, happiness index / gross national happiness, haute cuisine, indoor plumbing, Masdar, Murano, Venice glass, open borders, out of africa, race to the bottom, Ralph Nader, Scramble for Africa, Silicon Valley, statistical model, sustainable-tourism, the market place, union organizing, urban renewal, wage slave, young professional, éminence grise

• • • The three men arrived on time for a 10:30 morning coffee near the Rialto Bridge. Flavio Gregori, a professor of English at Università Ca’ Foscari. Claudio Paggiarin, an architect. Marco Malafante, tourism professional. The last two are Venetian natives; the professor is a long-time resident. They agreed to give up a Saturday morning with their families to explain to me why they were active in 40xVenezia, an organization of mostly young professionals in their forties dedicated to reining in the runaway tourism in Venice. The sun was scorching. We found a café on the canal with umbrellas and ordered drinks. The men started talking at once, laughing as they interrupted each other. First, the problem as they saw it: “When our population reaches under 60,000, Venice stops existing as a living city. We are worried from several points of view.

How I Became a Quant: Insights From 25 of Wall Street's Elite by Richard R. Lindsey, Barry Schachter


Albert Einstein, algorithmic trading, Andrew Wiles, Antoine Gombaud: Chevalier de Méré, asset allocation, asset-backed security, backtesting, bank run, banking crisis, Black-Scholes formula, Bonfire of the Vanities, Bretton Woods, Brownian motion, business process, buy low sell high, capital asset pricing model, centre right, collateralized debt obligation, corporate governance, correlation coefficient, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, discounted cash flows, disintermediation, diversification, Emanuel Derman,, Eugene Fama: efficient market hypothesis, financial innovation, fixed income, full employment, George Akerlof, Gordon Gekko, hiring and firing, implied volatility, index fund, interest rate derivative, interest rate swap, John von Neumann, linear programming, Loma Prieta earthquake, Long Term Capital Management, margin call, market friction, market microstructure, martingale, merger arbitrage, Nick Leeson, P = NP, pattern recognition, pensions crisis, performance metric, prediction markets, profit maximization, purchasing power parity, quantitative trading / quantitative finance, QWERTY keyboard, RAND corporation, random walk, Ray Kurzweil, Richard Feynman, Richard Feynman, Richard Stallman, risk-adjusted returns, risk/return, shareholder value, Sharpe ratio, short selling, Silicon Valley, six sigma, sorting algorithm, statistical arbitrage, statistical model, stem cell, Steven Levy, stochastic process, systematic trading, technology bubble, The Great Moderation, the scientific method, too big to fail, trade route, transaction costs, transfer pricing, value at risk, volatility smile, Wiener process, yield curve, young professional

The BARRA culture was very casual—no one except for the head of marketing wore a suit and tie to work, and we would all go out to lunch for an hour and BS about world events or academic theory. There was a shower in the office, and late in the afternoon a bunch of us JWPR007-Lindsey 310 May 7, 2007 17:32 h ow i b e cam e a quant would go out for runs in the Berkeley hills. Once a month we would do this at night under the full moon and then go out for ice cream or beer. BARRA was full of young professionals, and almost equally divided among the sexes. This, as you might imagine, led to a number of internal mergers. I managed to keep my own relationship secret enough that when we finally moved in together, people looked at the housewarming invitation and asked, “Is this Peter from BARRA or Bonnie from BARRA?” not realizing that two people they were working with had been dating for a year. There may have been a few Republicans at BARRA, but they stayed in the closet.

pages: 528 words: 146,459

Computer: A History of the Information Machine by Martin Campbell-Kelly, William Aspray, Nathan L. Ensmenger, Jeffrey R. Yost


Ada Lovelace, air freight, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, Apple's 1984 Super Bowl advert, barriers to entry, Bill Gates: Altair 8800, borderless world, Buckminster Fuller, Build a better mousetrap, Byte Shop, card file, cashless society, cloud computing, combinatorial explosion, computer age, deskilling, don't be evil, Douglas Engelbart, Dynabook, fault tolerance, Fellow of the Royal Society, financial independence, Frederick Winslow Taylor, game design, garden city movement, Grace Hopper, informal economy, interchangeable parts, invention of the wheel, Jacquard loom, Jacquard loom, Jeff Bezos, jimmy wales, John von Neumann, linked data, Mark Zuckerberg, Marshall McLuhan, Menlo Park, natural language processing, Network effects, New Journalism, Norbert Wiener, Occupy movement, optical character recognition, packet switching, PageRank, pattern recognition, pirate software, popular electronics, prediction markets, pre–internet, QWERTY keyboard, RAND corporation, Robert X Cringely, Silicon Valley, Silicon Valley startup, Steve Jobs, Steven Levy, Stewart Brand, Ted Nelson, the market place, Turing machine, Vannevar Bush, Von Neumann architecture, Whole Earth Catalog, William Shockley: the traitorous eight, women in the workforce, young professional

Jobs’s evangelizing was called on in full measure to acquire these capabilities. During 1976, while Wozniak designed the Apple II, Jobs secured venture capital from Mike Markkula, to whom he had been introduced by his former employer at Atari, Nolan Bushnell. Markkula was a thirty-four year-old former Intel executive who had become independently wealthy from stock options. Through Markkula’s contacts, Jobs located an experienced young professional manager from the semiconductor industry, Mike Scott, who agreed to serve as president of the company. Scott would take care of operational management, leaving Jobs free to evangelize and determine the strategic direction of Apple. The last piece of Jobs’s plan fell into place when he persuaded the prominent public relations company Regis McKenna to take on Apple as a client. Throughout 1976 and early 1977, while the Apple II was being perfected, Apple Computer remained a tiny company with fewer than a dozen employees occupying two thousand square feet of space in Cupertino, California.

Multicultural Cities: Toronto, New York, and Los Angeles by Mohammed Abdul Qadeer


affirmative action, call centre, David Brooks, deindustrialization, desegregation, edge city,, Frank Gehry, game design, ghettoisation, global village, immigration reform, Jane Jacobs, knowledge economy, market bubble, McMansion, new economy, New Urbanism, place-making, Richard Florida, risk tolerance, Silicon Valley, Skype, telemarketer, the built environment, The Chicago School, The Death and Life of Great American Cities, the scientific method, urban planning, urban renewal, working-age population, young professional

Restaurants, banquet halls, jewellery and gold shops, as well as apparel and household goods stores clustered in strip malls of ethnic identities line the main roads of these towns. Ethnic businesses have also made inroads into the mainstream economy. The Chinese have a niche in computer hardware. Italians and South Asians dominate construction. In the city of Toronto, financial, real estate, educational, and health services have been dominated by native-born of European ancestry and Jews, but now young professionals of Asian backgrounds are making inroads into these professions, forming informal networks and nationality-based professional organizations. Filipino nurses and nannies are an economic niche by themselves. Almost all major ethnic groups now have evolved networks of ethnic businesses and professionals large enough to merit their respective business directories and run commercials on multicultural TV and radio channels, pushing their advantage as those who speak “your” language.

pages: 444 words: 138,781

Evicted: Poverty and Profit in the American City by Matthew Desmond


affirmative action, Cass Sunstein, crack epidemic, Credit Default Swap, deindustrialization, desegregation, dumpster diving, ending welfare as we know it, ghettoisation, glass ceiling, housing crisis, informal economy, Jane Jacobs, late fees, New Urbanism, payday loans, price discrimination, profit motive, rent control, statistical model, superstar cities, The Chicago School, The Death and Life of Great American Cities, thinkpad, upwardly mobile, working poor, young professional

After unloading the furniture, D.P. and Scott shared a beer on their front steps. The apartment was on Ward Street, on the west side of Kinnickinnic Avenue, which the locals shortened to “KK.” It faced an undeveloped plot of land surrounding railroad tracks and was not far from an apartment Scott used to rent years ago, when he was still a nurse and living in Bay View, a thriving neighborhood that attracted young professionals, artists, and hipsters. From their stoop, Scott and D.P. could see the crowning dome of the Basilica of St. Josaphat. One hundred years ago, Polish parishioners had emptied their savings accounts to fund the massive building project, “a scaled-down version of St. Peter’s in Rome.”1 As Scott drank his beer, he joked about “taking his own vow of poverty….All I’m going to do is buy some food and clothes and some drugs now and again.”

pages: 403 words: 125,659

It's Our Turn to Eat by Michela Wrong


Berlin Wall, Bretton Woods, British Empire, clean water, colonial rule, Doha Development Round, failed state, Fall of the Berlin Wall, financial independence, Kibera, Mahatma Gandhi, Mikhail Gorbachev, oil shock, out of africa, profit motive, Ronald Reagan, structural adjustment programs, upwardly mobile, young professional, éminence grise

No street corner was now complete without a new apartment block in the local blue-grey Nairobi stone, and at the end of many of those streets the traditional two-storey shopping centre, with rows of small metal-grilled Asian shops, was dwarfed by a giant plaza offering seven-day shopping, twenty-four-hour service, beauty parlour, cinema, ATM banking, internet access and a branch of the Java café chain, the venue of choice for the city's latte-drinking, BlackBerry-wielding, laptop-addicted young professionals. You could measure prosperity levels in a new phenomenon: the Nairobi traffic jam. Once an exclusively rush-hour feature, it now seemed to last all day. Why, these days Nairobi even boasted an ice-rink – one of only three in Africa – where squealing Kenyan boys and girls tottered across the ice and thumped against the wooden barriers. If Kibaki's government wasn't much good at delivering roads or affordable housing, it showed an impressive enthusiasm for the kind of purely cosmetic makeover calculated to warm the heart of the most pursed-lipped of bourgeois housewives.

The America That Reagan Built by J. David Woodard


affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, Bonfire of the Vanities, colonial rule, Columbine, cuban missile crisis, Deng Xiaoping, friendly fire, glass ceiling, global village, Gordon Gekko, gun show loophole, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, late capitalism, Mikhail Gorbachev, mutually assured destruction, new economy, postindustrial economy, Ralph Nader, Ronald Reagan, Ronald Reagan: Tear down this wall, Silicon Valley, South China Sea, stem cell, Ted Kaczynski, The Predators' Ball, trickle-down economics, women in the workforce, Y2K, young professional

America had gone from ‘‘stagflation’’ and the highest prices in thirty years to galloping capitalism, and everyday citizens were investing in the stock market. The middle-class market sought the deposits of ordinary savers and young people just beginning to accumulate assets. Wall Street had previously ignored these customers, but now it sought them out. Prudential-Bache, an aggressive firm, was quoted in Barron’s as saying it ‘‘sees its clients as the $40,000-a-year young professional on the fast track.’’3 As the market expanded, more individuals placed their money in funds to balance risk and profit. Suddenly the stock market report was of interest to everyone. Stockbrokers assured investors that their money was safe, but in late 1987 they discovered the real meaning of risk. The market was doing quite well for the first nine months of the year; it was up more than 30 percent and reaching unprecedented heights.

pages: 525 words: 153,356

The People: The Rise and Fall of the Working Class, 1910-2010 by Selina Todd


call centre, collective bargaining, conceptual framework, credit crunch, deindustrialization, deskilling, Downton Abbey, financial independence, full employment, income inequality, manufacturing employment, New Urbanism, Red Clydeside, rent control, rising living standards, strikebreaker, The Spirit Level, unemployed young men, union organizing, upwardly mobile, urban renewal, Winter of Discontent, women in the workforce, young professional

And the status of immigrants themselves was never entirely homogeneous: class played a part in how they were perceived and treated, as Clare Stevens discovered. As a young woman, she worked in a shop in a middle-class suburb close to Bristol University. One of Clare’s regular customers let a room to an Indian lodger ‘and I got to know him and he introduced me to the tennis club he belonged to.’ Belonging to a tennis club was a step up for this working-class girl. She enjoyed socializing with the students and young professionals she met there, and quickly became attracted to an Indian student. The feeling was mutual, and the couple courted for two years in Clare’s early twenties. Clare ‘was quite proud to be going out with him because he was very intelligent and he went to Bristol University’. His status as a middle-class student may also have helped keep her parents quiet: ‘I think my father was a bit put out but he never said anything.’51 Courting a university student with a professional career ahead of him was a different proposition to going out with a sailor with no fixed abode, as Ellen Halliburton had done.

pages: 612 words: 200,406

The Last Spike: The Great Railway, 1881-1885 by Pierre Berton


banking crisis, business climate, California gold rush, centre right, Columbine, financial independence, Khartoum Gordon, transcontinental railway, unbiased observer, young professional

Squatters, “advancing, like an army with banners,” began to pour towards the embryo city. Few of them were bona fide homesteaders. Dewdney reported to the Prime Minister, four days after the site was chosen, that most of them were paid monthly wages by Winnipeg speculators to squat on land and hold it “until it is found out where the valuable points are likely to be.…” By fall, the squatters, mainly young professional men – lawyers, engineers, clerks, and surveyors – held most of the available homestead land in the area of both Pile o’ Bones and Moose Jaw Bone creeks. Their “improvements” under the homestead law consisted of putting up a small tent or a log framework four or five feet high which was called a house. As Dewdney described it, “when a settler comes along looking for a homestead he is met by these ruffians who claim it.…” Genuine settlers, who were supposed to get homesteads for nothing, found themselves paying up to five hundred dollars for them.

pages: 552 words: 168,518

MacroWikinomics: Rebooting Business and the World by Don Tapscott, Anthony D. Williams


accounting loophole / creative accounting, airport security, Andrew Keen, augmented reality, Ayatollah Khomeini, barriers to entry, bioinformatics, Bretton Woods, business climate, business process, car-free, carbon footprint, citizen journalism, Clayton Christensen, clean water, Climategate, Climatic Research Unit, cloud computing, collaborative editing, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, corporate governance, corporate social responsibility, crowdsourcing, death of newspapers, demographic transition, distributed generation, don't be evil,, energy security, energy transition, Exxon Valdez, failed state, fault tolerance, financial innovation, Galaxy Zoo, game design, global village, Google Earth, Hans Rosling, hive mind, Home mortgage interest deduction, interchangeable parts, Internet of things, invention of movable type, Isaac Newton, James Watt: steam engine, Jaron Lanier, jimmy wales, Joseph Schumpeter, Julian Assange, Kevin Kelly, knowledge economy, knowledge worker, Marshall McLuhan, medical bankruptcy, megacity, mortgage tax deduction, Netflix Prize, new economy, Nicholas Carr, oil shock, online collectivism, open borders, open economy, pattern recognition, peer-to-peer lending, personalized medicine, Ray Kurzweil, RFID, ride hailing / ride sharing, Ronald Reagan, scientific mainstream, shareholder value, Silicon Valley, Skype, smart grid, smart meter, social graph, social web, software patent, Steve Jobs, text mining, the scientific method, The Wisdom of Crowds, transaction costs, transfer pricing, University of East Anglia, urban sprawl, value at risk, WikiLeaks, X Prize, young professional, Zipcar

One such start-up called Wikit proposes a form of transportation marketplace, where drivers could advertise their daily routes using their incar GPS device and would-be passengers could publish their current location, desired destinations, and the amount they are willing to pay to get there, from the convenience of their GPS-enabled phone. Wikit’s matching software would do the rest, while taking a small cut of every transaction. Zipcar takes the proposition even further. Rather than just share rides, why not share cars too. A Personal Journey to a New Model of Personal Transportation When Aaron Hay finished college he moved to Toronto to start a new job. As a young professional with reasonable income and the occasional need for a vehicle, Aaron considered purchasing a small, fuel-efficient city runabout. In calculating the costs, Aaron was faced with monthly costs of a $290 car payment, a $170 insurance bill, about $100 in fuel costs, and an $85 apartment parking fee. Without incurring any maintenance costs, Aaron was looking at about $645 per month to own and run a small car in downtown Toronto.

pages: 554 words: 167,247

Money, Politics, Back-Room Deals, and the Fight to Fix Our Broken Healthcare System by Steven Brill


Affordable Care Act / Obamacare, barriers to entry, Bernie Sanders, business process, call centre, collapse of Lehman Brothers, collective bargaining, crony capitalism, desegregation, Donald Trump, Edward Snowden, employer provided health coverage, medical malpractice, Menlo Park, Nate Silver, obamacare, Potemkin village, Ronald Reagan, Saturday Night Live, side project, Silicon Valley, the payments system, young professional

There was a Ping-Pong table and a section where free soft drinks were dispensed. The walls were lined with screens showing dashboards of website visits and incoming phone traffic, most likely coming from the ads Oscar had launched. Oscar’s marketing firm had produced both online messages and outdoor billboards, which were concentrated in the trendy neighborhoods where the marketers assumed they would be seen by the young professionals—freelancers, coders, actors—whom they had targeted. “Health insurance shouldn’t be brain surgery … unless you need brain surgery,” proclaimed one of my favorite pitches. The website had been completed and was now taking inquiries from people who had seen the ads or gotten social media messages suggesting they have a look at this strange insurance company website. They would be contacted after the October 1 launch.

pages: 518 words: 170,126

City for Sale: The Transformation of San Francisco by Chester W. Hartman, Sarah Carnochan


affirmative action, Albert Einstein, Bay Area Rapid Transit, big-box store, business climate, Golden Gate Park, Haight Ashbury, housing crisis, illegal immigration, Loma Prieta earthquake, manufacturing employment, new economy, New Urbanism, profit motive, Ralph Nader, rent control, Ronald Reagan, Silicon Valley, South of Market, San Francisco, strikebreaker, union organizing, urban planning, urban renewal, very high income, young professional

And as a May 2001 Examiner story noted, the city’s downtown is increasingly becoming a massive pied-à-terre for the superrich: Featured were Bill and Linda Klipp, retired Charles Schwab executives (forty-three and forty-two years old, respectively), who closed on a $1 million condo, their second home, where they spend on average one week a month. “While a great many buyers [of downtown luxury condos, in the $500,000–$3 million range] are wealthy Silicon Valley executives looking for a second home,” the story continues, “some are young professionals who want to live in the city. Others are retirees who like the idea of living in a full-concierge service condo right across from the baseball park. . . . The housing market is as tight as it has ever been.”44 One should not have excessive faith that the business turndown of 2000–2001 will spell much relief for San Francisco’s overburdened housing consumers. But these same forces creating a housing crisis in San Francisco have also produced probably the strongest local housing movement in the nation.

pages: 603 words: 186,210

Appetite for America: Fred Harvey and the Business of Civilizing the Wild West--One Meal at a Time by Stephen Fried


Albert Einstein, British Empire, business intelligence, centralized clearinghouse, City Beautiful movement, estate planning, glass ceiling, In Cold Blood by Truman Capote, indoor plumbing, Livingstone, I presume, new economy, Plutocrats, plutocrats, refrigerator car, transcontinental railway, traveling salesman, women in the workforce, Works Progress Administration, young professional

Scientists later thought the Arlington Springs Man might have been a woman, and then changed their minds back again, in a controversy Kitty would have found endlessly amusing. Kitty died of Hodgkin’s disease in 1962 at the age of seventy, leaving the bulk of her estate to her family—especially to Byron Harvey III, “Ronny,” her favorite—as well as to Mary Perkins and her gardener. (She also funded the Katherine Harvey Fellows program at the Santa Barbara Foundation, which to this day trains young professionals to get involved in nonprofit work.) She ordered her life’s collection of correspondence burned, but arranged for various items in the house to be sent to certain people with notes she had written. Her nephew Stewart Jr. had spent his honeymoon night in 1956 at Arequipa, where he and his bride broke one of the cherrywood beds in the guest room. Kitty had teased him about it, saying she would leave it to him in her will, and days after she died, the bed arrived at Stewart’s Boston home, with a note from Kitty advising him to have a furniture craftsman “shore it up in anticipation of more labor d’amour.”

pages: 554 words: 167,247

America's Bitter Pill: Money, Politics, Backroom Deals, and the Fight to Fix Our Broken Healthcare System by Steven Brill


Affordable Care Act / Obamacare, barriers to entry, Bernie Sanders, business process, call centre, collapse of Lehman Brothers, collective bargaining, crony capitalism, desegregation, Donald Trump, Edward Snowden, employer provided health coverage, medical malpractice, Menlo Park, Nate Silver, obamacare, Potemkin village, Ronald Reagan, Saturday Night Live, side project, Silicon Valley, the payments system, young professional

There was a Ping-Pong table and a section where free soft drinks were dispensed. The walls were lined with screens showing dashboards of website visits and incoming phone traffic, most likely coming from the ads Oscar had launched. Oscar’s marketing firm had produced both online messages and outdoor billboards, which were concentrated in the trendy neighborhoods where the marketers assumed they would be seen by the young professionals—freelancers, coders, actors—whom they had targeted. “Health insurance shouldn’t be brain surgery … unless you need brain surgery,” proclaimed one of my favorite pitches. The website had been completed and was now taking inquiries from people who had seen the ads or gotten social media messages suggesting they have a look at this strange insurance company website. They would be contacted after the October 1 launch.

pages: 564 words: 182,946

The Berlin Wall: A World Divided, 1961-1989 by Frederick Taylor


anti-communist, Berlin Wall, cuban missile crisis, facts on the ground, Fall of the Berlin Wall, German hyperinflation, land reform, mutually assured destruction, oil shock, open borders, Plutocrats, plutocrats, RAND corporation, Ronald Reagan, Ronald Reagan: Tear down this wall, Sinatra Doctrine, the market place, young professional, éminence grise

By contrast, the percentage of children under the age of fifteen was 15 (in West Germany proper, around 23).4 The West German government’s extremely generous subsidies to West Berlin’s infrastructure, plus a lower turnover tax for businesses there, compulsory relocation of production facilities and administrative offices of Federal government departments in West Berlin, and so on, helped keep the walled-in city alive. West Berlin was nevertheless slowly depopulating. In the early 1960s, its birth rate was among the lowest of any city in the world. Most years, thousands fewer people came to West Berlin than left, a situation that continued until the late 1980s. Significantly, in the 1960s, the newcomers were not the traditional immigrants looking for work, nor were they ambitious young professionals. West Berlin was not a place to go if you wanted advancement—that happened in thriving centres like Frankfurt (finance), Hamburg (the press), Düsseldorf (advertising and insurance) or Bavaria, where the new electronic industries were beginning to flourish. No, those coming to Berlin in large enough numbers to make their presence felt were an interesting crowd, despite—or perhaps because—they were not mainstream.

pages: 756 words: 228,797

Ayn Rand and the World She Made by Anne C. Heller


affirmative action, Albert Einstein, anti-communist, Bolshevik threat, conceptual framework, greed is good, laissez-faire capitalism, Milgram experiment, Mont Pelerin Society, New Journalism, open borders, price stability, profit motive, rent control, rolodex, Ronald Reagan, Silicon Valley, the scientific method, theory of mind, Thorstein Veblen, transcontinental railway, upwardly mobile, wage slave, War on Poverty, Works Progress Administration, young professional

Yet it seems unlikely that she would have entertained Leonard or many of the others for more than an evening now and then if it hadn’t been for her deepening interest in Nathaniel Branden. She confirmed this later when she said, “I’ve always seen [the Collective] as a kind of comet, with Nathan as the star and the rest as his tail.” Nevertheless, their devotion offered important compensations. They were an unusually talented group of students and young professionals. They provided her with a comforting sense of being understood and appreciated at a pivotal point in the writing of Atlas Shrugged, when Dagny, returned from Galt’s Gulch, begins to discover the unpleasant psychological motives of the left-wing bureaucrats who are marshaling their forces against her. When the author met with other acquaintances and colleagues—as she often did, either at gatherings of political conservatives or over drinks and dinner—the strain could cost her two or three days’ work.

pages: 992 words: 292,389

Conspiracy of Fools: A True Story by Kurt Eichenwald


Asian financial crisis, Burning Man, estate planning, forensic accounting, Long Term Capital Management, margin call, Negawatt, new economy, oil shock, price stability, pushing on a string, Ronald Reagan, transaction costs, value at risk, young professional

Lay saw no real risk; he felt confident that the banks could be repaid in the future with the growth in value from Enron shares. The borrowing started in earnest. On the evening of September 2, the Saturday of Labor Day weekend, Andy and Lea Fastow were dining at Tony’s with two friends, Michael Metz and his wife, Clare Casademont. Other diners shot furtive glances at the four attractive young professionals; Casademont was well known in town, a former local news anchor who had left the station when she moved to London with Metz, an international oil trader. As the four chatted over drinks, Fastow noticed a group of people making their way to a second, smaller dining room. It was Jordan Mintz, an Enron tax lawyer, accompanied by his wife, Lauren, and her family, all there celebrating the eightieth birthday of Lauren’s father.

pages: 898 words: 266,274

The Irrational Bundle by Dan Ariely


accounting loophole / creative accounting, air freight, Albert Einstein, banking crisis, Bernie Madoff, Black Swan, Broken windows theory, Burning Man, business process, cashless society, Cass Sunstein, clean water, cognitive dissonance, computer vision, corporate governance, credit crunch, Credit Default Swap, Daniel Kahneman / Amos Tversky, delayed gratification, Donald Trump, endowment effect, Exxon Valdez, first-price auction, Frederick Winslow Taylor, fudge factor, George Akerlof, Gordon Gekko, greed is good, happiness index / gross national happiness, Jean Tirole, job satisfaction, knowledge economy, knowledge worker, lake wobegon effect, late fees, loss aversion, Murray Gell-Mann, new economy, Peter Singer: altruism, placebo effect, price anchoring, Richard Feynman, Richard Feynman, Richard Thaler, Saturday Night Live, Schrödinger's Cat, second-price auction, shareholder value, Silicon Valley, Skype, software as a service, Steve Jobs, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, ultimatum game, Upton Sinclair, Walter Mischel, young professional

Interoffice romances are generally inadvisable, if not prohibited. Most young people change jobs frequently, so they uproot themselves, yet again disrupting their social lives. With every move, their developing direct and indirect relationships are curtailed—which further hurts their chances of finding someone, because friends often introduce one another to prospective mates. Overall, this means that the improvement in the market efficiency for young professionals has come, to a certain extent, at the cost of market inefficiency for young romantic partners. Enter Online Dating I was troubled by the difficulties of Seth and some other friends until the advent of online dating. I was very excited to hear about sites like, eHarmony, and “What a wonderful fix to the problem of the singles market,” I thought. Curious about how the process worked, I delved into the world of online dating sites.

pages: 1,145 words: 310,655

1967: Israel, the War, and the Year That Transformed the Middle East by Tom Segev


affirmative action, anti-communist, Berlin Wall, Boycotts of Israel, British Empire, cuban missile crisis, distributed generation, friendly fire, full employment, ghettoisation, illegal immigration, invisible hand, open borders, Ronald Reagan, Yom Kippur War, young professional

The study found significant discrepancies among students who defined themselves as religious, traditional, and nonreligious, but also found that the secular now gave more weight to their Jewish identity than they had formerly. Thirty percent more young people said they were more religious than their parents; among those who defined themselves as secular, only 2 percent had made the same statement before the war, while a few years afterward 5 percent did.21 AS TENSIONS ESCALATED BEFORE THE WAR, ISRAELI EMBASSIES ABROAD WERE FLOODED with requests from young professionals, mostly Jewish, who wanted to volunteer in Israel. It soon became evident that the supply exceeded the demand, and the Foreign Ministry scaled back its offer to finance flights for volunteers; it would now subsidize only Jews willing to spend at least four months in Israel (doctors would need to commit to a minimum of six weeks). Two days before the war, the volunteers were already becoming a nuisance, and on the third day of the war the embassies were asked to stop the flow: there was no further need for volunteers, Jewish or non-Jewish, doctors or other professionals.

pages: 1,318 words: 403,894

Reamde: A Novel by Neal Stephenson


air freight, airport security, crowdsourcing, Google Earth, industrial robot, informal economy, large denomination, megacity, new economy, pattern recognition, Ponzi scheme, pre–internet, ransomware, side project, Skype, slashdot, South China Sea, the built environment, the scientific method, young professional

But quite a few of the old buildings had been rescued—Olivia imagined a D-day-style invasion of the island, gardeners with saws and shovels parachuting out of the sky and storming the beaches—and were being liberated from the thorny or flowery embrace of climbing vines, deratted, reroofed, fixed up, and condoized. Her apartment was small but nicely located on the top floor of what had once been a French merchant’s villa and now served as home to a couple dozen young professionals like Meng Anlan. Her bed looked out onto a small balcony with a view across the water to the brilliant downtown lights of Xiamen, and during those nights when sleep eluded her, she would sit up and hug her knees and stare across the water, wondering which of those scintillae was the screen of Abdallah Jones’s laptop. But as weeks went by and she got the square kilometer sorted out in her head, it began to seem doable.

pages: 1,169 words: 342,959

New York by Edward Rutherfurd


Bonfire of the Vanities, British Empire, illegal immigration, margin call, millennium bug, out of africa, place-making, Plutocrats, plutocrats, rent control, short selling, Silicon Valley, South Sea Bubble, the market place, urban renewal, Y2K, young professional

At seven thirty, Maggie O’Donnell walked out of the Croydon rental building on Eighty-sixth Street, turned up Madison, walked a few blocks, past the Jackson Hole where she got her burgers, up to the tiny, enterprising restaurant where they served a very reasonable prix fixe menu with minimal choice, which changed every night. The Carnegie Hill area, lying as it did at the very top of the Upper East Side, contained a lot of young professionals who were glad of a chance to get an inexpensive meal in amusing surroundings, and the little restaurant’s half-dozen tables were seldom empty. She was going to meet her brother Martin. If he turned up. To be fair to Martin, he had been quite specific. The bookstore where he worked had an author reading that evening. If he was needed, he’d have to take a rain check. If not, he’d see her at the restaurant.

pages: 1,797 words: 390,698

Power at Ground Zero: Politics, Money, and the Remaking of Lower Manhattan by Lynne B. Sagalyn


affirmative action, airport security, Bonfire of the Vanities, clean water, conceptual framework, corporate governance, deindustrialization, Donald Trump, Edward Glaeser, estate planning, Frank Gehry, Guggenheim Bilbao, high net worth, informal economy, intermodal, iterative process, Jane Jacobs, mortgage debt, New Urbanism, place-making, rent control, Rosa Parks, Silicon Valley, sovereign wealth fund, the built environment, the High Line, time value of money, too big to fail, Torches of Freedom, urban decay, urban planning, urban renewal, white flight, young professional

Short of additional massive government subsidies, which they considered unwise (and spent more effectively elsewhere), downtown in their view had a limited economic future because of its many competitive disadvantages relative to midtown. What they discounted or missed in the data was the evolving character of lower Manhattan as a mixed-use neighborhood and the conversion of older, obsolete class B and class C office buildings into thousands of apartments.28 Events, in time, would reveal the fault lines of their reasoning as thousands of young professionals and families continued to settle in lower Manhattan, drawing with them nightlife, restaurants, and the kind of avant-garde art scene that had long been a fixture of the area and was making it one of the city’s fastest-growing residential districts (figure 12.5). Figure 12.5 Growth in downtown as a place to live: 2000–2008. Alliance for Downtown New York In 2002, the stakes for the future viability of lower Manhattan, not just as an office district but as a 24/7 community, were high.

pages: 3,292 words: 537,795

Lonely Planet China (Travel Guide) by Lonely Planet, Shawn Low


Albert Einstein, anti-communist, bike sharing scheme, call centre, carbon footprint, clean water, colonial rule, credit crunch, Deng Xiaoping, haute couture, haute cuisine, income inequality, indoor plumbing, land reform, place-making, Skype, South China Sea, special economic zone, sustainable-tourism, trade route, upwardly mobile, urban planning, urban renewal, urban sprawl, women in the workforce, Xiaogang Anhui farmers, young professional

It is a serene place, with lotus ponds, immaculate bonsai tea plants and bougainvillea, and silent nuns delivering offerings of fruit and rice to Buddha and arhats (Buddhist disciples freed from the cycle of birth and death) or chanting behind intricately carved screens. Sik Sik Yuen Wong Tai Sin TempleTEMPLE ( GOOGLE MAP ; %2327 8141, 2351 5640;; 2, Chuk Yuen Village, Wong Tai Sin; donation HK$2; h7am-5.30pm; mWong Tai Sin, exit B2) An explosion of colourful pillars, roofs, lattice work, flowers and incense, this busy temple is a destination for all walks of Hong Kong society, from pensioners and businesspeople to parents and young professionals. Some come simply to pray, others to divine the future with chim – bamboo ‘fortune sticks’ that are shaken out of a box on to the ground and then read by a fortune-teller (they’re available free from the left of the main temple). Middle Road Children’s PlaygroundPARK ( MAP GOOGLE MAP ; Middle Rd, Tsim Sha Tsui; h7am-11pm; c; mEast Tsim Sha Tsui, exit K) Accessible via a sweep of stairs from Chatham Rd South, this hidden gem atop the East Tsim Sha Tsui MTR station has play facilities, shaded seating and views of the waterfront.