Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich.
By Jayati Ghosh – Since reducing inequality became an official goal of the international community, income disparities have widened. This trend, typically blamed on trade liberalization and technological advances that have weakened the bargaining power of labor vis-à-vis capital, has generated a political backlash in many countries, with voters blaming their economic plight on ‘others’ rather than on national policies. And such sentiments of course merely aggravate social tensions without addressing the root causes of worsening inequality.
But in an important new article, the Cambridge University economist José Gabriel Palma argues that national income distributions are the result not of impersonal global forces, but rather of policy choices that reflect the control and lobbying power of the rich.
The driving force behind these trends is market inequality, meaning the income distribution before taxes and government transfers. Most OECD countries continually attempt to mitigate this through the tax-and-transfer system, resulting in much lower levels of inequality in terms of disposable income.
But fiscal policy is a complicated and increasingly inefficient way to reduce inequality, because today it relies less on progressive taxation and more on transfers that increase public debt. For example, European Union governments’ spending on social protection, health care and education now accounts for two-thirds of public expenditure, but this is funded by tax policies that let off the rich and big corporations while heavily burdening the middle classes, and by adding to the stock of government debt. more>
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Tagged Business improvement, Capital, Inequality, Internet, poor, Rich, Wealth
Bearings manufacturer meets stringent accuracy requirements while improving productivity
Siemens – Humankind has been trying to improve the mobility of people and materials by reducing friction between moving parts for centuries. The creators of the pyramids and Stonehenge were able to move massive structures by placing cylindrical wooden rollers beneath great weights to reduce the coefficient of friction and the force required to move them. These world wonders were made possible by some of the earliest known applications of bearings.
Modern bearings with races and balls were first documented in the fifteenth century by Leonardo da Vinci for his helicopter model. Since then, the design, mobility and precision of bearings have developed dramatically in many application domains. In the semiconductor and medical device industries, miniaturization and increasing product complexity have revolutionized motion systems and their components. The precision and accuracy of motion systems are highly dependent on bearings assemblies and how they are integrated into systems. Precisie Metaal Bearings (PM-Bearings) is one of only a few manufacturers in the world that provide high-precision linear bearings.
PM-Bearings specializes in the design and manufacture of high-precision linear bearings, motion systems and positioning stages, and supplies the high-end semiconductor, medical device and machine tool industries. The company was founded in 1966 as a manufacturer of linear bearings, and has expanded to include design, manufacturing and assembly of custommade multi-axis positioning stages with complete mechatronic integration. Located in the Netherlands at Dedemsvaart, the company employs 140 people and supplies customers worldwide.
The company’s products range from very small bearings (10 millimeters in length) up to systems with footprints of 1.2 to 1.5 square meters with stroke lengths of one meter. The portfolio encompasses linear motion components including precision slides, positioning tables and bearings stages. PM-Bearings is part of the PM group, along with other companies specialized in hightech machining. Its global customer base extends from Silicon Valley to Shenzhen.
To maintain a competitive edge, PM-Bearings knew that complete control of the product realization, from design to delivery, was essential. This is why the company chose a comprehensive set of solutions from product lifecycle management (PLM) specialist Siemens PLM Software. These include NX™ software for computer-aided design (CAD), Simcenter™ software for performance prediction, NX CAM for computer-aided manufacturing and Teamcenter® software for PLM to make certain that all stakeholders use the same data and workflows to make the right decisions. more>
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