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If Greece Embraces Uncertainty, Innovation Will Follow

Harvard Business Review

This helps to explain why Greece has one of the lowest license and patent revenues from abroad as a percentage of its GDP, as well as one of the lowest contributions from high-tech product exports to its trade balance. Of course, in the near term, political stability and sound economic policies are necessary to avert crisis.

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The 4 Types of Cities and How to Prepare Them for the Future

Harvard Business Review

Slow demographic growth in developed economies creates a zero-sum situation (which is part of why the licensed cabs vs Uber/Lyft contest is so heated). Implications for city leaders: Leaders should loosen restrictions so that private finance can invest in improvements to physical infrastructure, to better use what already exists.

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How To Choose The Next Head of the Fed

Harvard Business Review

and the transfer of business risk from "too big to fail" institutions to taxpayers, leading to a "heads I win, tails you lose" relationship between the finance and the rest of the economy. The financial industry accounts for about 8% of GDP, but about 32% of corporate profits. Recent scrutiny of the U.S. Here also there are two issues.

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Doing Business in a Post-Fidel Cuba

Harvard Business Review

With a limited financial system, Cuba lacks the domestic savings to raise fixed capital investment above the current level of 10% of GDP (half the average of Latin America). Second, Cuba confronts the difficult task of unburdening its largely stalled state-led economy. How to know where the economy is heading.