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The "Efficient Marke |
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| The 諛팭ficient market hypothesis,?which Wall Street embraced for decades, holds that in a market where everyone has equal access to the same information, rational investors will set stock prices ?and the prices will reflect the generally understood information about the value of those stocks. No one has an unfair advantage ?and no one is supposed to be able to beat the market over the long term. This is the foundation upon which the $1 trillion index-fund industry rests. |
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The Creativity Crisi |
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| For a century, the United States had led the world in innovation. It is home to many of the world��셲 most forward-thinking companies. It produces many of the most innovative products and services on the planet. And yet, the American advantage in innovation is not some home-grown resource that can be found in the water or the air. |
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Moving South |
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| America is on the verge of a great migration that is affecting where people will live and how companies will profit. As futurist Dr. Jim Taylor points out in American Demographics, the U.S. has been the site of two previous major migrations. |
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Reaching Next-Genera |
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| Contrary to what some alarmists were predicting when the Internet hit critical mass, the popularity of Web surfing in the workplace has not caused American business productivity to crumble. For many employers, a reasonable amount of personal Internet usage during the workday is accepted. |
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Inflation Remains a |
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| Many Americans assume that inflation is rising. They fear that the recent increase in commodity prices will lead to higher finished goods producer prices and then higher consumer prices. This fear is intensified because people tend to notice when prices go up for products they buy most often.
As economist A. Gary Shilling points out in a recent commentary, such ��쐗idespread fears of inflation are understandable. Historically, inflation is a wartime phenomenon when government spending is huge, while deflation reigns in peacetime. Still, the nation suffered a uniquely long 60 years of war, which started with rearmament in the late 1930s, was followed by World War II, which promptly gave way to the Cold War that was augmented by the War on Poverty. So, most Americans have never experienced anything but inflation, which they believe is the way God made the world.��� |
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