Oxfam is an international organization dedicated to fighting world poverty. In their recent report entitled (“Wealth: Having It All and Wanting More”), Oxfam makes the case that by 2016 the wealth of the top 1% will overtake the remaining 99%. This report was released right before the World Economic Forum in Davos that took place last week, where some of the world’s richest people fly to Switzerland to talk about the future of our planet and do a little skiing on the side. Oxfam’s timing proved to be spot on as they have fueled a debate between those who believe in their assertions and others who refute them.

Oxfam delivered their warning to the world that the sharp rise in inequality is slowing down the fight against poverty, where 1 in 9 people do not have enough food to eat and more than 1 billion people live on less than $1.25 a day. They also present the statistics that of the remaining 52% of global wealth in 2014, about 46% was owned by the rest of the richest 1/5 of the world’s population. Like many others, Suzanne Moore from The Guardian applauds the Oxfam study and has written an article a few days ago entitled “Inequality isn’t inevitable, it’s engineered. That’s how the 1% have taken over.” I think this title pretty much speaks for itself. 

Tim Worstall from Forbes, however, claims that Oxfam’s logic is flawed and does not offer a genuine view of wealth distribution. He argues that someone needs to have just under $800,000 to be in the top 1%. This means that most people who own a home in the U.K. or a flat in London would qualify. Meanwhile, someone else living in a different country could have a higher standard of living than those living in UK and be worth far less on paper.  As a final note, Worstall fires back at Suzanne Moore by saying that she is a hypocrite since she is a member of the 1% club that she is actively criticizing.

I think it is important to recognize that there is a dichotomy within the top 1% before one wages war on the whole group. Certainly, there are a growing number of billionaires around the world who can afford to pay more. There are also, however, many living in high cost of living areas that are in the top 1% and not living like rock stars. While Oxfam is right to call attention to the statistic that 1 billion people live on less than $1.25 a day, their statistic that 1% > 50% does not tell the whole story. The truth is that there is no one size fits all solution that will magically fix the world's wealth inequality problem. Yes, there is a problem, but one that can only be addressed by compromise and not conflict. 

For more information on Wealth Inequality, please refer to the following articles:

Richest 1% will own more than all the rest by 2016, Oxfam, January 19^th, 2015

(http://www.oxfam.org/en/pressroom/pressreleases/2015-01-19/richest-1-will-own-more-all-rest-2016)

Inequality isn’t inevitable, it’s engineered. That’s how the 1% have taken over, Suzanne Moore, January 19^th

(http://www.theguardian.com/commentisfree/2015/jan/19/inequality-inevitable-1-per-cent-growth)

There's Probably More One Percenters Working For Oxfam Than There Are Billionaires, Tim Worstall, January 22^nd, 2015

(http://www.forbes.com/sites/timworstall/2015/01/22/theres-probably-more-one-percenters-working-for-oxfam-than-there-are-billionaires/)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 19

Last week, the Swiss Central Bank voted in a surprise move to stop pegging its currency to the Euro. The result was swift and dramatic as traders of all sizes piled into the Swiss Franc and exited their positions in the Euro. Why? There are a lot of theories floating around, but the prevailing one is that the ECB will announce a significant quantitative easing (QE) program this week that would put further downward pressure on the Swiss Franc. This is something that the Swiss Central Bank can no longer tolerate. Instead of creating stability, the Euro-Swiss peg has created more uncertainty as serious doubts about the future of the EU resurface yet again.

While the Swiss Central Bank’s move is good for Swiss shoppers in Paris, it has tough consequences for Swiss companies that rely heavily on exports. It is estimated that the Swiss large cap stocks lost $100 billion on this currency move. Ouch! Such companies include global giants like Roche Holding, Nestle, Novartis, UBS, and the Zurich Financial Group. The Swiss Central Bank’s justification for inflicting this corporate pain is directly related to their concerns about the future of the EU itself. The truth is that the Swiss are not alone in their concerns and the anti-EU UKIP party in the UK is gaining more and more supporters. The UKIP is calling for political freedom and the right for each EU nation to regulate its own immigration. We have heard these objections before, but the actions of the Swiss Central Bank have added a significant amount of wood to the fire. So, will anything change?

“Breaking Up Is Hard To Do” was a number 1 hit for Neil Sedaka back in 1962. Perhaps this should be the EU’s theme song as efforts to break up the union have failed miserably in the past. I can remember how the Irish voted to reject a EU treaty back in 2008 and were forced to vote again one year later. Well, the vote passed the second time as Irish voters realized that they had little choice. It is ironic that while the EU is slow and bureaucratic, it is also quick to prevent any member states from leaving. The big fear is that if one member leaves, then the EU will fall like a house of cards. For EU members, breaking up is hard to do, but the day that the EU goes back to being just Europe might be closer than many would like to believe. 

For more information on the Swiss Central Bank’s move, please refer to the following articles:

Swiss move shows euro is like a bad, bad marriage, Jake Novak, January 15^th, 2015 (http://www.cnbc.com/id/102341727)

A Swiss bombshell: Why the franc soared 30%, Sara Eisen, January 15^th, 2015 (http://www.cnbc.com/id/102341104)

Swiss large-caps lose $100B on currency move, Giovanny Moreano, January 15^th, 2015 (http://www.cnbc.com/id/23051332)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 18

In 1839, Alexandre Becqueral witnessed the photovoltaic effect by using an electrode immersed in a conductive solution that was exposed to light. In simpler terms, he discovered that sunlight could be captured and transformed into usable energy. If we track the evolution of solar cells since this time, then we can see how efficiency rates have steadily climbed from less than 1% to now over 40%. Perhaps an even bigger development, however, is how China has significantly reduced the cost of producing solar panels. The price of a solar panel in 1977 was $76 and has dropped to less than $.36 today.

There is more to this story, however, than just efficiency and pricing. Using satellite imaging and even Google Earth, people can now determine whether a particular location is a good candidate for solar panels or not. Another key advancement is battery storage. Imagine having the ability to capture solar energy during the day, efficiently store it, and then use it during the night. As with solar panels, however, batteries must also be both highly capable and affordable. The good news is that this is already happening. Tesla’s Gigafactory alone is expected to produce 35 Gigawatts worth of batteries by 2020, which is more than the total global battery production capacity for 2013. Add all of this together and we are seeing for the first time how solar energy is now a practical, cost effective energy source for people all over the world. There is no doubt that the advancements in technology are empowering what is now called the “rooftop revolution.”

Peter Diamandis cites the statistic that “5,000 times more solar energy is hitting the Earth’s surface in a year than humanity uses today.” Given the abundance of solar energy and the growth rate of driving technologies, UBS estimates that an entire value chain in developed electricity markets will be completely disrupted in the next 10-20 years. What does this mean? For starters, households and entire neighborhoods will have the ability to use and store solar energy to satisfy their energy needs and not rely on large, bureaucratic power companies. It also means that many of the poorest nations are also the sunniest, and solar energy can significantly help raise their standard of living. The rooftop revolution is well underway based on the premise that energy from the sun is an abundant gift for all of humanity. Let’s just hope that governments will be supportive and not protective of the status quo.

For more information on Solar Energy, please refer to the following articles:

Solar Energy Revolution: A Massive Opportunity, Peter Diamandis, September 2^nd, 2014, (http://tinyurl.com/nnha97h)

Wikipedia: Timeline of Solar Cells: http://en.wikipedia.org/wiki/Timeline_of_solar_cells

Five Reasons Solar Will Power the Future, Will Doig, October 13^th, 2014 (http://nextcity.org/daily/entry/resilience-solar-power-future-success)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 17

According to the United Nations, the worldwide average life expectancy is 71 years (68.5 for males and 73.5 for females). This statistic has Japan on one end (84.6 years) and Sierra Leone (38 years) on the other. Now, apply a new headline that was just released by the Guardian that says “Live for ever: Scientists say they’ll soon extend life ‘well beyond 120’”. While this may sound a bit farfetched, it is certainly no joke to billionaire investors who are devoting considerable resources to “hack the code of life.”

Let’s first take a look at Joon Yun, a 47-year-old hedge fund manager who has created the Palo Alto Longevity Prize. This particular prize will award $1million to the team that can extend the lifespan of mice by 50%. Yun says that this is a moral issue for him and has pledged to offer larger amounts of money for greater achievements. Perhaps it is a moral issue for Yun, but Patrick McCray, a historian of modern technology, says there are three common reasons why wealthy individuals want to fund life extension research. The first is that if you are extremely wealthy, it gives you more time to spend it. Secondly, finding a way to extend people’s lives to 120 years would turn billionaires into trillionaires. Lastly, what could be a better legacy than going down in history as the one who helped people to stop aging?

In 2013, Google created Calico, short for the California Life Company, to “cure death” and there are lots of other wealthy investors bankrolling research led by some of the world’s top minds. So, what happens to society if people really do start living to the age of 120? Imagine retiring at the ago of 60 and knowing that half of your life would be in retirement. Would this mean that people would do everything later? Perhaps people would finish university at 40, get married at 50, have kids at 60 or 70, and then retire at 100 years old. Only time will tell…

For more information on Life Extension, please refer to the following articles:

Live for ever: Scientists say they’ll soon extend life ‘well beyond 120’, The Guardian, Zoe Corbyn, January 11^th, 2015 (http://tinyurl.com/oggouqu)

How to live for ever, The Economist, R.MCS, July 30^th, 2014, http://tinyurl.com/nqxnpva

Google's project to 'cure death,' Calico, announces $1.5 billion research center, Ben Popper, September 3^rd, 2014, http://tinyurl.com/pm5kn29

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 16

I just read an article by The New York Times entitled “An Aging Europe in Decline.” As one can imagine, this article talks about the dark clouds hanging over Europe and even includes a comment made by the Pope at the European Parliament last November: “In many quarters we encounter a general impression of weariness and aging, of a Europe which is now a ‘grandmother,’ no longer fertile and vibrant.” Does this mean that all of us living in Europe are doomed? Not so fast.

It is quite ironic to me that one day before I read the aforementioned article, I read another one from Forbes entitled “Why The Next Billion Dollar Companies Will Come From Europe”. How is this possible given the bleak outlook described by the New York Times and the Pope? The truth is that while Europe certainly does have its share of problems, the tough times since the financial crisis have also spurred world-class innovation. Look no further than Hungarian startups that have gone global: Prezi, Logmein, NNG (formerly Nav N Go), and Ustream. This Forbes article also mentions Norbeus, a Serbian company that had to become profitable from day one since it did not have access to VC funding. This lack of funding, however, pushed Norbeus to innovate and now they have a globally successful business to show for it.

Another recent Forbes article that caught my eye was entitled “Could Ukraine Be The Next Silicon Valley”? Once again, this is not the kind of headline one would expect to see about an Eastern European country. The world’s largest online freelance site, Elance, considers Ukraine to be the third best place in the world to find people with advanced technical skills. The entire Central European region is a source for talent and this is now finding its way into new European startups with global aspirations.

If one chooses to look at Europe as a whole, then the outlook is indeed gloomy. I choose, however, to dig a little deeper to notice that Europe is quietly producing globally competitive startups that could be the world’s next billion dollar companies.

For more information on Europe’s promise or decline, please refer to the following articles:

An Aging Europe in Decline, The New York Times, Contributing OP-ED Writer, January 6^th, 2015 (http://www.nytimes.com/pages/opinion/index.html)

Why The Next Billion Dollar Companies Will Come From Europe, Forbes, Allison Coleman, January 4^th, 2015 (http://tinyurl.com/ohbhdkx) 

Could Ukraine Be The Next Silicon Valley?, Forbes, Greg Satell, November 24^th, 2015 (http://tinyurl.com/mbf6664)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 15

While the word “drone” sounds like something straight out of Star Wars, it really just refers to an unmanned vehicle. Drones have been around since the 1960s and were used in the Vietnam War for reconnaissance missions. Fast-forward to today where drones are fitted with missiles and are regularly used to wipe out targets. The big difference now, however, is that drone technology is being commercially applied to a variety of industries at affordable prices. Imagine one day looking out your window and seeing all sort of drones buzzing around. This is something that has aviation authorities around the world quite concerned.

Amazon launched “Prime Air” on July 9^th, 2014 to achieve the goal of putting packages into the hands of customers in thirty minutes or less. Google has been developing drones since 2011 and has created a prototype that is 2 ½ feet high and has four propellers that activate during different stages of a flight. Facebook is now touting its plans to create a solar powered drone the size of a 747 to help bring Internet access to remote parts of the world. Even Dominos is experimenting with drones to deliver its pizzas. The arguments in favor of drones are that they provide a more efficient method of delivering goods. These arguments, however, are facing a tough battle against communities that cherish security and privacy.

It makes a lot of sense to allow farmers to use drones to survey their land. It also makes sense to use drones to deliver supplies or even Internet access to remote areas. It does not make sense, however, to have drones equipped with cameras flying around my home. Companies like Amazon, Google, and Facebook are always interested in collecting as much data as they can about their customers and anyone else who might be in the area. As for me, I value my privacy a lot higher than a 30-minute drone pizza delivery.

For more information on drones, please refer to the following articles:

Google Is Testing Delivery Drone System, Wall Street Journal, ALISTAIR BARR and GREG BENSINGER, August 29^th, 2014 (http://tinyurl.com/m5umjkg)

Introducing Prime Air: http://www.amazon.com/b?node=8037720011

Drone on the Farm, WSJ Blog, Rachel King, December 10^th, 2014, (http://tinyurl.com/ol9h3sx)

Facebook Lays Out Its Roadmap for Creating Internet-Connected Drones, Wired, Issie Lapowsky, September 23^rd, 2014 LAPOWSKY  (http://tinyurl.com/oqjzneu)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 13

Every year I count down the seconds to the start of the New Year and every year I make resolutions that I do not keep. These resolutions are really just reruns that involve my general desire to spend less, save more, eat less, and exercise more. Boring, but true. As it turns out, I am not alone as studies show the success rates for resolutions are quite low. Richard Wiseman from the University of Bristol conducted a study using 3,000 people and found that 88% of those who set New Year’s resolutions failed. Ouch! Albert Einstein once cleverly said that “insanity is doing the same thing over and over and expecting different results.” Perhaps it is time for me to try a new approach.

My quest for change began by turning to history books for inspiration. It turns out that the Babylonians would pledge to their gods at the start of each New Year that they would pay off their debts. The gods listened, smiled, and invented a system of “easy” monthly payments. The Romans used to make all sorts of promises to Janus, which is where January comes from, and their empire nearly swallowed the entire planet. Medieval knights made their “peacock vows” at the end of each year to show their commitment to chivalry and their desire for armor that would attract the eyes of the local ladies. It is clear that Babylonians, Romans, and medieval knights were far more practical about their promises than I have ever been. Perhaps the problem is that there are no consequences for me not keeping my resolutions.

To solve my problem, I embraced technology and joined www.stickK.com. StickK offers a platform that helps people to create and honor “Commitment Contracts” by leveraging the power of social media. My first contract involves running the Budapest Spring Half Marathon on April 19^th in less than 2 hours and 30 minutes. This means that I have four months to get into reasonable shape. For this contract, I have invited a referee and a whole bunch of supporters to help keep me motivated. If I do not achieve this goal, then I pledge to dance on the bar of a local watering hole in a bikini. Trust me, no one wants to see this happen.

If you are having similar problems with keeping your resolutions, then give www.stickK.com a try. Creating a commitment contract means that you will be three times more likely to honor it than one that carries no consequences and has no visibility amongst your peers. The thought of wearing a bikini in a public place while people are instantly uploading videos of me is a pretty powerful incentive for me to train really hard. I think Einstein would approve.

For more information on New Year’s resolutions, please refer to the following articles:

Tim Ferriss: Most people fail at New Year’s resolutions because there is no consequence, Metro, Vicki-Marie Cossar, January 21^st, 2013 (http://tinyurl.com/lcydwym)

New Year’s Resolution, Wikipedia, (http://en.wikipedia.org/wiki/New_Year's_resolution)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 12

Christmas 2014 is now in the history books and the eyes of the world look to 2015. While the Super Bowl for American football is scheduled for February 1^st, 2015, the Super Bowl for technology is just a few days away. The Consumer Electronics Show (CES) will kick off in Las Vegas on January 6^th and offers a sneak preview to the latest innovations that will be making their way to the marketplace within the next year.

According to John Curran, Accenture’s Managing Director for Communications, Media, and Technology, the Internet of Things (IoT) will take center stage in 2015 as smart devices communicate with each other in real time over global networks. The “always” connected consumer will drive all sorts of innovations that will enhance the user experience both visually and contextually. One such innovation is the rise of the “phablet”, which represents the goldilocks fusion of the smart phone and the tablet. The evolution of this mobile device, along with faster global networks, is now accelerating innovations in IoT across a variety of industries.

Expect to see the “connected car” as a headline coming out of the CES 2015. Automakers that have been asleep at the wheel for the last decade, are now allowing drivers to connect their smart devices to their cars. This connection can be used for anything from receiving performance or maintenance updates about your car to sharing your apps and services directly to your car’s onboard screen. Taking this one step further, companies like Nuance are creating solutions to enable the “connected life”, which means that you can talk to your refrigerator in the same way as a family member. Sounds creepy? Perhaps, but this now reality and no longer a sci-fi film. Check out the following link and see for yourself: (http://tinyurl.com/jwanott). 

It seems the changes year over year are getting bigger and bigger for consumer electronics. While having a robot running your household maybe a few years away, controlling your car and house with your smart device is not. We are truly living in a connected world and the IoT is the trendy way of describing the next big thing.

For more information on CES 2015, please refer to the following articles:

Why CES is still a hugely important event for tech, Tech Radar,Patrick Goss  November 2^nd (http://tinyurl.com/kfzdzkz)

Five Big Things To Watch At CES 2015, Forbes, John Curran, December 27^th, 2015,

(http://tinyurl.com/n3nv44e)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 12

The ability to multitask is a celebrated trait. The explosion of “smart”, connected devices allow us to instantly respond to our fast moving world. I often feel quite empowered by my ability to watch TV, surf the Internet, email, and text all at the same time. Perhaps I am rapidly evolving into a digital superhero capable of processing the secrets of the universe in real time. Not so fast Captain Digital. The truth is that I am not evolving into something better, but rather devolving into a person that has forgotten the subtle art of paying attention.

In an interview at the World Economic Forum last year, Yahoo’s CEO, Marissa Meyer, proudly announced that she checks her phone more than 150 times a day. Wow, her success must be directly linked to her incredible ability to multitask. To the contrary, scientific studies have shown that doing more than one task at once means that we do not perform any single task well. In 2005, HP and the Institute of Psychiatry at the University of London funded a research study that concluded, “Workers distracted by e-mail and phone calls suffer a fall in IQ more than twice that found in marijuana smokers.” I am not saying that this is a win for marijuana smokers, but it does raise a serious question about how many of us treat our smart phones like virtual pets.

As it turns out, multitasking is not unique to our mobile world. Back in 1740, Lord Chesterfield gave this advice to his son in a letter: “There is time enough for everything in the course of the day, if you do but one thing at once, but there is not time enough in the year, if you will do two things at a time.” Thomas Edison was well known for fishing alone at a nearby pond so that he could think without distractions. Contrast this with today where it is commonplace for kids to do their homework while instant messaging, watching TV, and playing games online. The plain fact is that this is a poor learning environment and one that many of us regularly indulge in.

Multitasking, however, is not just related to the workplace, but also to our personal lives. My smartphone has become a magnet that my hand cannot resist. I have to know what is going on, so I check my phone constantly. By doing so, I am losing contact with the moment I am living in. In the spirit of Christmas, put down your phone and pick up the world around you. I will do the same.

For more information on the perils of multitasking, please refer to the following articles:

How to Train Yourself to Stop Multitasking, Daniel Patrick Forrester, August 6^th, 2014, (http://tinyurl.com/kss3l42)

The Myth of Multitasking, Christine Rosen, Spring of 2008, pp. 105-110(http://tinyurl.com/5rtft3)

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 11 

A few days ago, I noticed an article from Wired Magazine that read, “NASA just emailed a wrench to space.” While I have received thousands of emails with attachments during my lifetime, I am certain that no one has ever tried to email me a wrench. How is this possible? As it turns out, the California based company, Made In Space, designed a 3D printer that was installed on the International Space Station (ISS). When the ISS commander, Barry Wilmore, made a request for a wrench, it didn’t take a rocket ship to get it there.

3D printing has been around since the 1980s and starts with an object that is created by a computer. The printing part is done using one of three techniques. One technique uses a vat of liquid resin, while another uses a laser to build objects out of powered materials. For home use, Fused Deposition Modeling (FDM) is the most common and involves using melted plastic that is extracted from a nozzle and put down in fine layers to create objects. The reason why 3D printing is so transformative is that it offers a cheap way to experiment. If you create an object that you don’t like, then just redesign it and print it again. With traditional methods, retooling can take lots of time and effort at significant cost.

The usages for 3D printing are growing exponentially and are beginning to affect entire industries. In healthcare, there are now more than 40,000 people who have 3D printed, titanium inserts in their hips. Over 4,000 people now have spinal implants that were 3D printed in such a way that the bone can grow around it. Let’s not forget Derby the dog, who was unfortunately born with deformed front legs. With the help of 3D printing, Derby was fitted with new prosthetics for his front legs and is now able to jam around the neighborhood like a normal dog. Check out this touching story at http://tinyurl.com/l6wjkdn.

The 3D printing industry is set to explode in upcoming years, as the technology is now available to home users for less than $1,000. The old days of “one size fits all” batch processing are starting to end as 3D printing enables prototyping to be done quickly and cheaply. The number of designs for all sorts of products will grow exponentially and choosing will be the hard part. Perhaps one day we will just email designs to each other and print the gifts rather than receiving them by snail mail. It may sound ridiculous, but it will happen.

For more information on 3D printing, please refer to the following articles:

The Potential of 3D Printing, 88.5 WFDD Public Radio, Shawn Fitzmaurice, December 19^th, 2014 (http://wfdd.org/post/potential-3d-printing)

Nasa just emailed a wrench to space, Wired UK, James Temperton, December 19^th, 2014http://tinyurl.com/mrf9bqo

For more information about the Corvinus Global Business blogger, go to https://www.linkedin.com/in/kevinmjackson1.

Blog 10