New industrial policies will make the world more unequal | Empowering Small Retailers in Developing Nations with Digital Tech | Warren Buffett's Three Keys to Success | 8 Passive Income Ideas for Increased Cash Flow

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New industrial policies will make the world more unequal - The Economist

On top of defanging China, firming up supply chains and saving the planet, politicians say that homeland economics will reduce inequality. On both left and right they blame the globalisation of the 1990s and 2000s for widening disparities in income and wealth, as manufacturing jobs withered in the face of the “China shock”. Both sides want to bring back these jobs and restore the industrial working class. Democrats hope this might dissuade people from voting again for Donald Trump. Both sides are likely to be disappointed.

In recent decades old-style jobs have disappeared in large numbers. In 1990 about 30% of workers in the rich world were in industrial jobs, broadly defined. Now about 20% are. Over the same period, pre-tax income inequality rose sharply. Especially from the 1990s, so-called “deaths of despair”, involving overdoses from opioids, began to soar—most dramatically in America, but elsewhere too. Improvements in life expectancy slowed. “Left-behind” places, offering their residents few prospects, proliferated.

Many economists blame this, at least in part, on an almighty surge in trade, especially trade with China. In the decade to 2008 exports from China to the rich world rose at an average annual rate of 17%. In some countries, a China shock followed, where ultra-cheap imports from the world’s second-largest economy destroyed the manufacturing base of a number of local areas.

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How Digital Technologies Could Boost Tiny Retailers in Developing Countries - Harvard Business Review

Micro-retailers are vitally important to the economies of developing countries and to consumer packaged goods companies. But their full potential is not being realized. The adoption of digital technologies could help change that. But for that to happen, obstacles must be overcome. Three strategies can address them.

Independently operated micro-retailers that typically serve fewer than 100 households in local communities account for most retail business in developing countries. In Latin America, for example, these “nanostores” account for an estimated 40% to 70% of consumer-packaged goods (CPG) companies’ sales, making it the largest channel in terms of sales volume.

Much of this vast market’s potential is unrealized, however, because these small retailers have failed to embrace digital technology that could boost their performance and profitability. In this article, we offer three practical strategies that would help them harness the benefits of digital technology.

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Warren Buffett Says Living a Successful Life Really Boils Down to 3 Things - Inc.com

Warren Buffett, widely regarded as one of the most successful investors of all time, has not only amassed a fortune but has also become a beacon of wisdom when it comes to achieving remarkable success.

Buffett's timeless lessons and principles about success have resonated with individuals from all walks of life. Here are three of them for anyone seeking to navigate the path to greatness.

Buffett has repeatedly mentioned the importance of mentorship in someone's career development, including his own. He was fortunate enough to have Benjamin Graham as a teacher and mentor during his time at Columbia University. In the foreword of the book Security Analysis, Buffett writes that Graham "changed my life."

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8 Passive Income Ideas to Bring You More Cash Flow - StartUp Mindset - StartUp Mindset

If you have an entrepreneurial mindset, you should be able to pick up one of these passive income methods. Passive income is good for entrepreneurs who want to free up their time. If you look at the most successful people, they’ll tell you to have multiple lines of income. When you have passive income, you can focus on other streams while still making money. Passive income opportunities usually start with an initial time investment.

Starting a blog takes some time, but you can do it for free. A solid blog can bring in quite a lot of money if you know how to leverage it with social media and other means. Know this, if you start a blog, you will pour your blood, sweat, and time into it for it to succeed. If you have an idea of SEO, social media, and can create content that people view as valuable, you’ll eventually succeed. Your blog can then serve as a platform for whatever you want to sell. A lot of the passive income strategies in this article can be leveraged through your blog.

If you have a technical skill or some way to help others in their life, creating an online course could be quite lucrative. You can make a course on Udemy, which has millions of people viewing and purchasing courses. It will take some time to create the course. You’ll want to have content and videos, as well as marketing material that sells your course. You can teach anything you know about. This includes teaching your audience how to play an instrument, teaching someone language fundamentals, or becoming a better photographer.

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