Categories
Future

Opinion: Biden’s infrastructure plan must look to the future, not wrap itself in a nostalgic view of past American greatness


CAMBRIDGE, Mass. (Project Syndicate)—President Joe Biden’s $2 trillion infrastructure plan is likely to be a watershed moment for the American economy, clearly signaling that the neoliberal era, with its belief that markets work best and are best left alone, is behind us. But while neoliberalism may be dead, it is less clear what will replace it.

The challenges that the United States and other advanced economies face today are fundamentally different from those they faced in the early decades of the 20th century. Those earlier challenges gave rise to the New Deal and the welfare state. Today’s problems—climate change, the disruption of labor markets due to new technologies, and hyper-globalization—require new solutions.

Capitol Report: Biden says he’s ‘prepared to negotiate’ on infrastructure as he meets bipartisan group of lawmakers

We need a new economic vision, not nostalgia for a mythicized age of widely shared prosperity at home and global supremacy abroad.

On climate change, Biden’s plan falls short of the Green New Deal advocated by progressive Democrats such as Rep. Alexandria Ocasio-Cortez. But it contains significant investments in a green economy, such as supporting markets for electric vehicles and other programs to cut carbon-dioxide emissions, making it the largest federal effort ever to curb greenhouse-gases.


Economics is different from an arms race. A strong U.S. economy should not be a threat to China, just as Chinese economic growth need not threaten America.

On jobs, the plan aims to expand employment offering good pay and benefits, focusing, in addition to infrastructure, on manufacturing and the growing and essential care economy.

Book Watch: Caregiving is a vital part of the nation’s infrastructure like bridges and roads

The role of government

New ways of thinking about the role of government are as important as new priorities. Many commentators have framed Biden’s infrastructure plan as a return to big government. But the package is spread over eight years, will raise public spending by only 1 percentage point of gross domestic product, and is projected to pay for itself eventually.

A boost in public investment in infrastructure, the green transition, and job creation is long overdue. Even if the plan were nothing more than a big public investment push financed by taxes on large corporations, it would do a lot of good for the U.S. economy.


We need a new economic vision, not nostalgia for a mythicized age of widely shared prosperity at home and global supremacy abroad.

But Biden’s plan can be much more. It could fundamentally reshape the government’s role in the economy and how that role is perceived.

Traditional skepticism about government’s economic role is rooted in the belief that private markets, driven by the profit motive, are efficient, while governments are wasteful. But the excesses of private markets in recent decades—the rise of monopolies, the follies of private finance, extreme concentration of income, and rising economic insecurity—have taken the shine off the private sector.

At the same time, it is better understood today that in a complex economy characterized by so much uncertainty, top-down regulation is unlikely to work. Regardless of the specific domain—promoting green technologies, developing new institutional arrangements for home-care workers, deepening domestic supply chains for high-tech manufacturing, or building on successful workforce development programs—government collaboration with nongovernmental actors will be essential.


If it succeeds, the example it sets of markets and governments acting as complements, not substitutes—demonstrating that each works better when the other pulls its weight—could be its most important and enduring legacy.

In all these areas, the government will have to work with markets and private businesses, as well as other stakeholders such as unions and community groups. New models of governance will be required to ensure public objectives are pursued with the full participation of those actors who have the knowledge and capacity to achieve them. The government will have to become a trusted partner; and it will have to trust other social actors in turn.

In the past, each excessive swing in the state-market balance has eventually prompted an excessive swing in the opposite direction. The Biden plan can break this cycle. If it succeeds, the example it sets of markets and governments acting as complements, not substitutes—demonstrating that each works better when the other pulls its weight—could be its most important and enduring legacy.

Biden’s unhelpful framing

In this regard, it is unhelpful to view the Biden plan as a way to restore America’s competitive position in the world, especially vis-à-vis China. Unfortunately, Biden himself is guilty of this framing. The package will “put us in a position to win the global competition with China in the coming years,” he recently argued.

Peter Morici: Biden doesn’t understand how dangerous China is

It may be politically tempting to market the infrastructure plan in this fashion. In an earlier era, the prevailing fear that the U.S. was losing its edge to the Soviet Union in ballistic missiles and in the space race helped catalyze a national technological mobilization.

But there is much less reason for fearmongering today. It is unlikely to buy much Republican support for the plan, given the intensity of partisan polarization. And it diverts attention from the real action: if the plan increases incomes and opportunities for ordinary Americans, as it should, it will have been worth doing, regardless of the effects on America’s geopolitical status.

Moreover, economics is different from an arms race. A strong U.S. economy should not be a threat to China, just as Chinese economic growth need not threaten America. Biden’s framing is damaging insofar as it turns good economics at home into an instrument of aggressive, zero-sum policies abroad. Can we blame China if it tightens restrictions on U.S. corporations as a defensive measure against the Biden plan?

The plan could transform the U.S. and set an important example for other developed countries to follow. But to achieve its potential, it must avoid misleading state-versus-market dichotomies and outdated Cold War tropes. Only by leaving behind the models of the past can it chart a new vision for the future.

This commentary was published with permission of Project SyndicateBiden Must Fix the Future, Not the Past.

Dani Rodrik, professor of international political economy at Harvard University’s John F. Kennedy School of Government, is the author of “Straight Talk on Trade: Ideas for a Sane World Economy.”

More From Project Syndicate

Megan Greene; How the Fed could give a green light to environmentally sustainable investments

James K. Galbraith: Here’s why fears of surging inflation are off-base

Minxin Pei: China sabotages its economic future by escalating tiff with West over forced labor of Uighurs



Source link

Categories
Future

What Does the Future Hold for Java? Dive Into the New Java 16 Features at InfoQ Live (April 27)


The April edition of InfoQ Live, the one-day virtual event for software engineers and architects, will focus on Java, why applications should use a recent Java version, and how to overcome the real-world challenges of upgrading to the latest Java version. 

Explore what is currently available in OpenJDK 16 and what is upcoming in OpenJDK 17. Learn about the status of the new features being introduced into Java via Project Valhalla. Leverage the new features in Java looking at cost, reliability, scalability, and performance. Deep-dive into these topics at InfoQ Live on Tuesday, April 27

All talks are available on-demand after the conference so you don’t miss a session even if you can’t attend the live event. 

InfoQ Live Editorial Sessions

Learn how world-class software professionals solved common challenges. Discover practical ways to guide your problem-solving approach.

Upgrade to Java 16 or 17 by Johan Janssen, Software Architect @SanomaLearning

Java upgrades are sometimes seen as difficult and many applications are still running on an older version of Java. This session describes the current six months release process of Java and why applications should use a recent Java version. After that, I’ll explain the challenges of upgrading and provide some useful tips to make the process easier. Concrete examples will be used to show you how to upgrade your application to Java 16 or 17.

Johan Janssen, Software Architect @SanomaLearning

What’s New in Java 16 by Sander Mak, Director of Technology @Picnic

Like clockwork, another Java release arrived this March. In this session, we’ll dive into the exciting new features of Java 16. First, we’ll look at API updates that will make your life easier. Then, we’ll look at two major new language features: records and pattern matching. Sealed Classes are still a preview feature in this version, but we’ll take a peek at what they can offer as well. Come join me to stay up to date on all things Java!

Sander Mak, Director of Technology @Picnic

Co-located event: InfoQ Roundtable (sponsored by Azul)

Join a live panel discussion between software practitioners where you can ask your own questions to accelerate your learning.

What Does the Future Hold for Java? 

Leaders from the Java community will delve into some of the new features in Java including Records, Local Variable Type Inference, and performance improvements. They will also discuss the various ‘free’ builds of OpenJDK, identifying the best way to mitigate cost and risk, and look into the creation and development of Foojay.io, and what the founders’ future aspirations are for this Java community hub.

We are donating 100% of net revenue tickets (minus taxes, credit card fees, and processing fees) for this event to organizations working towards diversity, equity, and inclusion in the technology industry. If you’d like to contribute, register for just $19.95. In addition, at every event registration (InfoQ Live Pass, or InfoQ Live + Roundtable Pass), you receive a gift pass you can share with someone on your team or a friend.

Save your spot at InfoQ Live.





Source link

Categories
Hardware

Virtual Machine and Hardware Virtualization Service Market Segmentation, Analysis by Recent Trends, Development & Growth by Regions to 2026


The latest Virtual Machine and Hardware Virtualization Service market report offers a detailed analysis of growth driving factors, challenges, and opportunities that will govern the industry expansion in the ensuing years. Besides, it delivers a complete assessment of several industry segments to provide a clear picture of the top revenue prospects of this industry vertical.

According to industry analysts, the market is projected to accrue notable gains while recording a CAGR of XX% over the forecast period 2021-2026.

Considering the impact of Covid-19, except from healthcare industries, the global health crisis has turned out to be a nightmare for majority of businesses. While some have successfully made changes to their business model or pivoted the entire organization’s mission, others continue to face an onslaught of challenges. Our extensive study on this business sphere is equipped with recommendations and strategies to help you deal with the changing landscape and emerge victorious in the coming years.

Request Sample Copy of this Report @ https://www.business-newsupdate.com/request-sample/36179

Key highlights from the Virtual Machine and Hardware Virtualization Service market report:

  • COVID-19 impact on the growth matrix.
  • Statistics germane to the overall market revenue, size, and sales volume.
  • Key trends in the industry.
  • Growth opportunities.
  • Projected values for the growth rate of the market and its sub-markets.
  • Advantages & disadvantages of indirect and direct sales channels.
  • Major traders, distributors, and dealers in the industry.

Virtual Machine and Hardware Virtualization Service market segmentation:

Regional bifurcation: North America, Europe, Asia-Pacific, South America and Middle East and Africa

  • Granular analysis of the market at regional and country level.
  • Market share held by each region, along with their respective returns and total sales.
  • Growth rate and revenue projections with reference to each region over the analysis period.

Product types: Annual License and Monthly License

  • Market share projections pertaining to revenue and sales accrued by each product segment.
  • Pricing models of each product type.

Applications spectrum: Personal and Commercial

  • Sales volume and revenue accounted by each application segment during the assessment period.
  • Product pricing based on their application scope.

Competitive outlook:

  • Vmware
  • QEMU
  • Parallels Desktop
  • Oracle VM VirtualBox
  • Microsoft Windows Virtual PC
  • CrossOver and WineHQ

 

Basic company information, along with their respective manufacturing facilities and top competitors.

  • Product and service offered by major contenders.
  • Figures regarding gross margin, revenue, sales price, and market share held by each contender.
  • SWOT analysis of every organization.
  • Detailed review of the marketing strategies, market concentration rate, commercialization rate, and other business centric aspects.

Key Questions Answered in The Report:

What will the Virtual Machine and Hardware Virtualization Service market growth rate?

What are the key factors driving the global Virtual Machine and Hardware Virtualization Service market?

Who are the key manufacturers in Virtual Machine and Hardware Virtualization Service market space?

What are the market opportunities and overview of the Virtual Machine and Hardware Virtualization Service market?

What are sales, revenue, and price analysis of top manufacturers of Virtual Machine and Hardware Virtualization Service market?

What are the Virtual Machine and Hardware Virtualization Service market opportunities and threats faced by the vendors in the global Virtual Machine and Hardware Virtualization Service Industry?

What are sales, revenue, and price analysis by types and applications of Virtual Machine and Hardware Virtualization Service Industry?

Request Customization on This Report @ https://www.business-newsupdate.com/request-for-customization/36179



Source link