In spite of criticism over excessive bureaucracy, the EU has undeniably taken the lead over the US in new regulation of big-tech; these ideas will significantly impact the future activities of Silicon Valley’s largest firms. Europe is an increasingly important source of technology revenue; Amazon, Apple, Facebook, and Microsoft each reported a quarter of annual revenue from the continent in 2018. As the world’s largest single economic bloc, the standards of the EU are often copied as benchmarks for the developing world; hence European policy could have a knock-on effect on attitudes to big-tech globally. European economic power is matched with tough restrictions on lobbying and unification of legal standards across multiple jurisdictions, helping the region take an objective and long-term perspective towards significant technology regulation. Continue reading “The New European Tech Doctrine Part II: How Aggressive European Policy is reshaping the future of big-tech”
Wise people tend to measure words and carefully address every aspect of the topic they are discussing, avoiding oversimplification and rushed conclusions. Having served as the Chief Economist at the IMF and Chief Macroeconomist in Obama’s Council of Economic Advisors, Professor Maurice Obstfeld makes no exception to this principle. Continue reading “WES Exclusive: Prof. Obstfeld on US-China Relations, Greece’s Economy and more”
“A hell of a lot. Whether policymakers take our advice is the real question.”
This year’s WES Presents was kicked off by Professor Jagjit Chadha, director of the National Institute of Economic and Social Research (NIESR). In a time where the role of experts seems to be increasingly distrusted in public discourse, he highlighted the value of rigorous economic analysis rather than reductive political sensationalism in the search for the right answers in policy, forecasting and analysis of the past.
This is the third part of our analysis of Amazon’s rise to 1 trillion. Today, we look at Amazon’s economic power and impact on jobs and wages.
When we talk about Amazon we do not just talk about the world’s largest online retailer or the rising star in Washington’s lobbying circles. Arguably, Amazon’s impact on job creation, investment and industry competition levels is even more important. The company’s size is large enough to change the personal lives of millions of people and the economic life of entire regions, if not entire countries. Continue reading “Race to One Trillion: It’s an Amazonian Economy”
This is the second part of our analysis of Amazon’s rise to 1 trillion. Today, we look at the changing relations between Amazon and the US political circles.
When a company registers £178 billion revenue and employs 560,000 people, it does not go unseen in Washington’s, London’s or Brussels’ corridors of power. Amazon is no exception. The online retailer’s relation with politics is complex, being alternatively cooperative or detached, but is always functional to profit maximisation. Continue reading “Race to One Trillion: Amazon’s Affairs in Washington”
As the first part of an analytical series on Amazon and its rise to 1 trillion, this article considers the company’s success and uncontainable growth.
In September 2008 you could buy an Amazon share for $72. Now, you need $1’970. At a whopping 39%, the average annual price increase has led Jeff Bezos’ creature to enter the exclusive 1-trillion market cap club. But Amazon’s exceptionalism is not limited to Wall Street. Of every dollar spent online, around 44 cents go through Amazon. With 100 million household members, “Amazon Prime” would be the 4th most populous country in the world. Continue reading “Race to One Trillion: Amazon’s invulnerable dominance”