Human capital in terms of the total earnings over a person’s lifetime is, as the World Bank states, clearly the most important component of wealth globally. The World Bank analysis finds that human wealth on a per capita basis is typically increasing in low and middle-income countries. But in some upper-middle and high income countries, stagnant wages are reducing the share of human capital. This has hollowed out middle classes and lies behind the rise of populist parties in Europe and Trump’s rise to power in the US.Women, meanwhile, account for less than 40% of human capital wealth, according to the report, because of lower earnings, lower labour force participation and fewer average hours of work.Whilst the report states that achieving higher gender parity in earnings could generate an 18 per cent increase in human capital wealth, such a statement is misrepresentative. It assumes firstly that women who choose to stay at home to raise families have no value, and secondly that increasing their participation in the labour force would not be at the expense of reducing male participation.The report concludes that growth is about more efficient use of natural capital and through investing the earnings from it into infrastructure and educationBoth assumptions probably merit further thought. For example, a simple thought experiment would consist of two mothers who each employ the other to look after their children. If they pay each other the same amount, there would be no net change in the economic circumstances of each family. However, the World Bank analysis would suggest that each has now accumulated human capital that they otherwise would not have had! This thought experiment suggests that work that contributes to society that is unpaid should still be regarded as contributing to human capital.For low income countries, natural capital accounts for the largest component of wealth. But the World Bank argues that getting rich is not about liquidating natural capital to build other assets – natural capital per person in OECD countries was three times that in low income countries even though the share of natural capital for OECD countries was only 3%.Understanding the drivers of wealthThe report concludes that growth is about more efficient use of natural capital and through investing the earnings from it into infrastructure and education.Sustainably managed, renewable resources in the form of agriculture or forestry can produce benefits in perpetuity. In contrast, non-renewables such as fossil fuels and minerals can offer a one-off opportunity to finance development. But, as the report points out, nearly two thirds of countries that have remained in the low income category since 1995 are resource rich, or fragile and conflict states or both.What is clear is that resources alone cannot guarantee development – strong institutions and governance are needed. Clearly the private sector can play a critical role, particularly if a strong stance is taken on ESG issues.Assessing the value of natural resources raises many philosophical challenges, but the debate needs to be had. By doing so the methodology can only improve, while losing biodiversity and the services it underpins is irreversible. Moreover, Europe faces the challenge of coping with refugees and migrants dying in their thousands attempting to gain entry to its shores.Understanding and encouraging the drivers of wealth outside its borders is a matter of self-interest as well as morality. No single metric is ever ideal for assessing progress.For countries, it is very clear that GDP is a poor metric to use for determining long term policies. GDP is a measure of activity rather than wealth creation. That means that it can give very misleading signals about the health of an economy. An obvious case is where natural resources are depleted which may give rise to a boost to GDP but could result in a long-term degradation of wealth and hence future income for that country.Incorporating the value of natural resources as well as human capital is a key requirement for assessing the health of a nation. At the end of January the World Bank released a fascinating analysis of the changing wealth of nations. Promoting an analysis of changing wealth both in absolute terms and on a per capita basis, as the World Bank argues for, provides a forward-looking analysis of the health of nations. It also emphasises the need for sustainability in the exploitation of natural resources. For investors, it is worth noting that environmental, social and governance (ESG) issues underpin many of the conclusions.How the wealth of a nation should be assessed is both controversial and subject to many assumptions. But just because measurement is difficult does not mean that it should not be attempted. The World Bank’s approach measures wealth in the form of four types of assets: Produced capital and urban land : machinery, buildings, equipment and urban land, measured at market prices;Natural capital : natural resources of all types including energy, minerals, agricultural land and forests;Human capital : measured as the discounted value of earnings over a person’s lifetime; andNet foreign assets : the sum of a country’s external assets and liabilitiesThe key findings are perhaps as would be expected, although the value is very much in the detailed figures for each country.Global wealth grew significantly between 1995 and 2014. Rapid growth in Asia that has enabled middle-income countries to catch up, but inequality persists.Per capita wealth changes show a significantly different picture. Low income countries showed a deterioration primarily driven by population growth outstripping investment, especially in sub-Saharan Africa.
But former Argentina international Pochettino says he and his players have no issue with the schedule and, in fact, are relishing it. He said: “I think we are thoroughly enjoying this period. We are getting paid to do what we enjoy. “It is a busy period but we and the fans are enjoying this period. “As someone who is passionate about football, this is a new experience for me but it is amazing and I am thoroughly enjoying it.” Everton suffered their first home defeat of 2013 against Sunderland on Boxing Day, which was also only the Toffees’ second reverse of the season. Roberto Martinez and his side will look to try and get back on track against the Saints and Pochettino knows Sunderland’s win means his side’s task will be no easier. “It was the first time Everton have lost at home in all of 2013, we had wanted to be the side to break that record and beat them at Goodison Park, but Sunderland have beaten us to it,” said Pochettino. “But it is clear we will face a great side and a great manager in Roberto Martinez, and it will be very difficult.” Most Premier League managers bemoan the busy festive period, but Southampton boss Mauricio Pochettino is happy to have the games coming thick and fast as he prepares to take his side to Goodison Park to face Everton. Press Association Pochettino will assess the fitness of Dejan Lovren after illness forced the defender out of the Cardiff fixture, while Nathaniel Clyne and Dani Osvaldo are in contention. But Artur Boruc (hand), Victor Wanyama (shin) and Guly do Prado (knee) remain sidelined. “We had a last-minute illness to Lovren and that ruled him out versus Cardiff,” said Pochettino. “We will assess him before Everton. “There are players such as Clyne and Osvaldo that might be coming back. “Then there are long-term injuries to Wanyama, Guly and Boruc, who will definitely not be back. “It’s always good when you get a win without some players because you get good energy and hopefully that will speed up the recovery process of the other players.” Saints recorded their first win in seven games against Cardiff on Boxing Day as two goals from Jay Rodriguez and one by Rickie Lambert secured a handsome 3-0 win over the Bluebirds. There is little time to dwell on the result with the trip to Merseyside looming on the horizon, ahead of a New Year’s Day meeting with Chelsea.
Published on September 30, 2016 at 6:59 pm Contact Charlie: firstname.lastname@example.org | @charliedisturco Liz Sack weaved through Louisville defenders, creating an open shot. She wound up to it, but missed the ball. She turned her body to still get off lofty air ball toward the center of the net. Elaine Carey, who was waiting for the ball, tapped it in, tying the game at 1-1.“We drove the baseline so many times and I said to Lizzie when she drives the baseline, no one can stop her,” Carey said. “(I) saw a space around the penalty spot so I went in there and the ball came high, and I didn’t even think. I just swung on it.”While Lies Lagerweij eventually won the game on a penalty stroke goal, Carey stepped up for the No. 4 Orange (9-1, 3-1 Atlantic Coast) on offense as it beat No. 7 Louisville (9-2, 1-2), 2-1 in overtime. Carey was in the middle of the play for most of SU’s scoring chances and accounted for 33 percent of the team’s shots, with five.At times, she was the one starting the play. In other instances, she was ready to shoot off a rebound or a cross from her teammates.On one play, Carey drove in on the Louisville defense, releasing a shot and colliding with Louisville goalie Ayeisha McFerran. The ball, still in the air, headed toward the goal but a Cardinals player hit it away way. Carey looked up toward the ref for a penalty corner that never came.AdvertisementThis is placeholder textThe next closest player to Carey in shots on the day was Emma Lamison, with three. In the team’s last game against Pennsylvania, Carey also had five shots, though she did not score a goal. She is currently the team leader in shots with 31 and second in goals, with six.Trying to pull away from Louisville, Carey drove to the baseline often, crossing the ball in hope of an easy tap in. There were many close calls, but SU was only able to score one goal throughout regulation time.“It was really good,” Syracuse head coach Ange Bradley said of Carey’s performance. “Very aggressive, very feisty and very fast. Just wreaked of determination.”Carey was getting past defenders with ease because of her speed. On one play, she tapped the ball past her defender, who was closing in on her. She ran around the defender and set herself up for an open shot on goal. However, McFerran was there, sticking her leg out and hitting the ball away.While she was active on offense, Carey was also helping out on defense as well. On plays where Louisville gained possession deep into its own territory, Carey was there to put on-ball pressure. That caused many forced passes that resulted in easy interceptions by midfielder Laura Hurff and the rest of the team.“Elaine really stepped up today,” Hurff said. “I felt like she was always there, like when I turned around, she was always on the ball or tackling back.” Comments Facebook Twitter Google+
Consider it a symptom of Impending Graduationitis or whatever you want, but a stark reality faces University of Wisconsin seniors this weekend.With the men’s hockey team stuck in ninth place in the WCHA, the responsibility for those truly spectacular, intoxicating moments that power the Kohl Center falls to the hardwood. Men’s basketball, as you many know, hosts the Buckeyes from The Ohio State University, and that’s a team that isn’t really liked around here – or anywhere else outside of Columbus, Ohio, for that matter.The last time the Buckeyes invaded the Kohl Center was Feb. 12, four months after John Clay and the Wisconsin Football Badgers ran Ohio State out of Camp Randall Stadium in a 31-18 victory. OSU was the country’s No. 1 team entering that weekend, and they were a perfect 6-0 before thousands of Badger faithful Jumped Around on them.More relevant, of course, is what transpired in the Kohl Center that February afternoon. Ohio State, again, was the nation’s top team. Again, they were also undefeated. This time, it was much farther into the season, and the Buckeyes had collected 24 straight wins.You remember what happened over the course of that game. A tight first half ended with a 2-point Ohio State lead. Then, Jordan Taylor and 21 second-half points happened. Then, despite trailing by as many as 15 points, despite battling a Buckeye squad shooting above 50 percent from the field, the Badgers won.Then, the floodgates opened for the student section, and Taylor, Jon Leuer and a whole bunch of Badgers were hoisted up off the ground and into Wisconsin lore.“It’s something that you’ll probably just remember forever,” Taylor said Thursday afternoon.He added to that by detailing the pleasantry of defeating the No. 1 team on your home court – and then stated that it has “zero impact” on this weekend’s game.Of course, the Buckeyes got a second chance with the Badgers last season on their home court. They made the most of it in a 93-65 trouncing of Wisconsin, a picking apart proverbial bone by proverbial bone. Jon Diebler rained fire from the skies, sinking seven of his eight 3-point attempts, while Ohio State collectively shot 68 percent from the floor and 93 percent from behind the arc.Taylor, as he’d be the first to recall, scored just eight points on 2-for-9 shooting in a full 40 minutes of playing time.That’s a very large reason why last year is meaningless now, but it’s not the largest.Simply put, a Wisconsin victory this weekend could propel the Badgers into first place in the Big Ten, just three weeks after a three-game losing streak brought doom and gloom clouds so thick that you’d think Bo Ryan’s pixie dust – the stock reserved for pulling his team into the NCAA tournament year in and year out – had been spoiled.But for sentiment’s sake, let’s expound on the rivalry talk. No matter how much Minnesota is perceived to be on the “upswing,” how long will it take until we see anything close to what Wisconsin-Ohio State has brought us? Minnesota hasn’t touched Paul Bunyan’s Axe since 2003, and in the past two years they’ve been outscored by a combined 47 points.Where else should we look? Iowa, a football rivalry at most, now lies opposite Wisconsin in the Big Ten’s Legends Division. So does Michigan, the second-most obnoxious team in the Big Ten, as well as newcomer Nebraska. In the Badgers’ Leaders Division, Penn State remains an awfully enormous question mark, while Purdue, Illinois and Indiana really pose zero semblance of anything close to a legitimate rival.That leaves Ohio State and Michigan State, and boy, those Spartans come pretty close. After all, they supplied the first Hail Mary Heartbreaker Wisconsin fans suffered this season, back in Spartan Stadium Oct. 22. The Badgers ultimately reaped sweet revenge in the Big Ten Championship Game in an absolute thriller that once again denied those bitter Spartans a BCS bowl berth, and you can bet this upcoming season’s matchup (an eerily timed Oct. 27) will be certified must-watch material.But who really makes your blood boil? Yes, Michigan State games seem to be developing a penchant for delivering truly remarkable drama and all-time classic moments, but who do you like beating the most? The Spartans have that indisputably vile bluster, but make no mistake – they’re second-fiddle rivals to the Buckeyes.Whether you’re a senior scratching off your last days in Madison on your bedroom wall or an underclassmen who’s still been unbelievably spoiled (in a truly fantastic way) by Wisconsin athletics these past two or three seasons, savor this Ohio State game this weekend.The players won’t say as much, but knowing what happened last year and even more so what can happen this year with sustained success, they sure will be as well.Mike is a senior majoring in journalism. Are you planning on packing the Kohl Center this weekend? Let him know on Twitter @mikefiammetta.