Author Archives: hbcumoney

HBCU Money™ Business Book Feature – Owning the Earth: The Transforming History of Land Ownership

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Barely two centuries ago, most of the world’s productive land still belonged either communally to traditional societies or to the higher powers of monarch or church. But that pattern, and the ways of life that went with it, were consigned to history by the most creative and simultaneously destructive cultural force in the modern era: the idea of individual, exclusive ownership of land.

Spreading from both shores of the north Atlantic, it laid waste to traditional communal civilizations, displacing entire peoples from their homelands, and brought into being a unique concept of individual freedom and a distinct form of representative government. By contrast, as Linklater demonstrates, other great civilizations, in Russia, China, and the Islamic world, evolved very different structures of land ownership and thus very different forms of government and social responsibility. The history and evolution of this concept is a fascinating chapter in the history of civilization, offering unexpected insights about how various forms of democracy and capitalism developed, as well as a revealing analysis of a future where the Earth must sustain nine billion lives. Owning the Earth presents a radically new view of mankind’s place on the planet and the history behind it.

The Fed & Tech Week In Review – 12/10/16

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Every Saturday the HBCU Money staff picks ten articles they were intrigued by and think you will enjoy for some weekend reading impacting finance and tech.

These 10 conflicts have forced 65 million people to flee their homes l @wef wef.ch/2gh22YU

Job openings in the U.S. declined in October by 97,000 to 5.53 million l @stlouisfed bit.ly/2hjnxcu

These are the things that successful crowdfunding projects do l @wef wef.ch/2gbUEyB

FC investment commitments in South Asia totaled $2B in FY16 l @WorldBank wrld.bg/kbuY306y7WL

This engineer had a life threatening heart condition. So he fixed it himself l @wef wef.ch/2hbARmN

Drones are helping us to better understand the status, and life, of trees. l @nwtls goo.gl/zxrS2K

Cities, central in the fight against #climatechange l@renewablecities buff.ly/2g6MTJv

Healthy and creative meals don’t have to be complicated. The simpler the menu, the less money & stress! l @MyPlate ow.ly/7Gr6306RAdi
A ‘New Deal’ For Energy l @cleantechnica ow.ly/RGZ43070eV9
Lazy coders are training artificial intelligences to be sexist l @newscientist newscienti.st/2hc3xJl

Baker Hughes November Rig Count – HBCU Territories

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HBCU states and territories are vital to the energy production of United States and the world these days. The latest Baker Hughes rig count shows that the U.S. currently has 597 active rigs, with 478 or 80.1 percent of those being in HBCU territories. Energy continues to be a vital part of the economic landscape where HBCUs are located and is a barometer for how the economies of those states may very well be doing now and going forward.

Gas rigs are denoted by an orange triangle. – 98

Oil rigs are denoted by a blue triangle. – 380

African America’s November Jobs Report – 8.6%

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Overall Unemployment: 4.6% (4.9%)

African America Unemployment: 8.1% (8.6%)

Latino America Unemployment: 5.7% (5.7%)

European America Unemployment: 4.2% (4.3%)

Asian America Unemployment: 3.0% (3.4%)

Previous month in parentheses.

Analysis: Overall unemployment dropped 30 basis points to its lowest since August 2007. All groups except Latino America saw a decline in their unemployment rate, who saw their unemployment rate go unchanged. African, Asian, and European America saw declines of 50, 40, and 10 basis points, respectively.

African American Male Unemployment: 7.7% (8.7%)

African American Female Unemployment: 7.1% (7.1%)

African American Teenage Unemployment: 26.6% (27.6%)

African American Male Participation: 67.5% (67.5%)

African American Female Participation: 62.6% (62.3%)

African American Teenage Participation: 28.0% (28.3%)

Analysis: African American men saw a 100 basis point decrease in their unemployment and no change in their participation rate. African American women saw no change in their unemployment rate and 30 basis point increase in their participation rate. African American teenagers saw a 100 basis point decrease in their unemployment rate and a 30 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 178 000 jobs in November. A noticeable difference from the 161 000 in October. African America added a substantial 154 000 jobs in November. Leading to the highest African American employed numbers in the past five months. Unfortunately, despite such robust jobs growth in the month, the participation rate for African American moved only 10 basis points. The participation rate simply refusing to break from this five month bandwidth. All key variables were in the green in an unprecedented fashion, participation rate aside. The labor force increased, employed increased, and unemployed went down. December looms with a rate hike on the horizon and just how it will impact economic planning by small and big businesses alike will not be known for months. The psychological impact of the moment alone will be of significant given one has not happen in almost ten years. Also of note, for the first time since December of 2015, average hourly earnings took a dip.

African America currently needs 505 000 jobs to match America’s unemployment rate. A decrease of 218 000 jobs from October.

HBCU Money™ Business Book Feature – The Curse Of Cash

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From the New York Times bestselling author of This Time Is Different, “a fascinating and important book” (Ben Bernanke) about phasing out most paper money to fight crime and tax evasion–and to battle financial crises by tapping the power of negative interest rates

The world is drowning in cash–and it’s making us poorer and less safe. In The Curse of Cash, Kenneth Rogoff, one of the world’s leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money.

Even as people in advanced economies are using less paper money, there is more cash in circulation–a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy.

As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future.

The Curse of Cash offers a plan for phasing out most paper money–while leaving small-denomination bills and coins in circulation indefinitely–and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor.

While phasing out the bulk of paper money will hardly solve the world’s problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.