triple-a nations -curriculum on nations futures

the good and the bad news is that economist design futures now 10 times faster

update july 2012 - spain has been cheated by the usa, germany and switzerland and brussels and luxembourg- until 2008 it was running a balanced budget


without the fraudulent rating agencies of usa subprime and america's macroeconomists who hire themselves out to speculators and big brothers- the global property bubble would have bust would have happened earlier, and spain would still have solvent banks (or enough money to sack  their bust owners)


so spain wouldnt have borrowed so much from germany


and switzerland - it issued the rule that banks needed less liquidity the  nore property they invested in


and luxembourg -sitezerlan's partner in eu


and bruseels whose grants fulelled spain's uncompetive strategy thes elats 15 years


solution -spanish politicains should demand that spain and germany elave the euro unless germany forgives half of spanish debt owed to german banks; as for switzerlan the whole of europe shjould stop trading with it while it runs bank accounts that represent every world evil; demand downsizing of half of brussels eu bureaucrats unless they want to come and work in spain


time for queen sofia of spain and greece who has networeked microeconomics more pasioately than any royal to linkin with other euroepan royals and sack any politician who disagrees with above






in mamy ways spanish youth have responded better to the fatal conceit of euro elders than other countries - love to meet the most entrepreneurial of these young people



16 Countries With Serious Youth Employment Problems

#1 Spain

Image: AP

Youth unemployment 2010: 41.6%

Youth unemployment 2007: 18.2% 

At 35.6%, Spain has one of the highest school dropout rates among developed nations. With a paltry 0.8% growth rate in 2011 the country's youth can't expect the situation to change anytime soon. Spain is at risk of losing a generation to emigration which would in turn have a long-term impact on its economy.

Source: OECD

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spains problem as at may 2012 - according to deputy PM

Spain is asking for huge sacrifices from its citizens she said, with budget savings this year of more than 45 billion euros, which have meant spending cuts in schools and hospitals.

At the same time, she noted, interest payments on debt this year will rise to 30 billion euros.

"For states that are making the effort it's not possible to explain to their citizens that what they save through austerity will then be spent on higher interest payments on debt," said Saenz, a lawyer by profession and one of Prime Minister Mariano Rajoy's closest advisors.

Meanwhile, almost one in four Spanish workers is jobless and unemployment is expected to rise even further in the coming months as the economy contracts again after barely emerging from its last recession.

"Countries which are doing reforms need to find a way to be rewarded rather than punished," she said, pointing to her government's overhaul of labour market rules to make companies more competitive, as well as its reforms of the financial sector.


Spain says it can foot the rising bill to rescue its banks on its own, after a property market crash left them with more than 184 billion euros in sour assets.

And the government is expected to announce later this week guarantees that will help the country's 17 autonomous regions refinance their debt.

from the economist

e problem in Spain is not that its politicians lack the resolve to reform. In recent months Mariano Rajoy’s new conservative government has pushed through a labour-market overhaul. Over the past year or so Spain has pared pensions and written debt limits into the constitution.

Spain’s problem is one of misdiagnosis. Its government and European officials reckon the main challenge is fiscal. They argue that the budget deficit, which reached 8.9% of GDP last year, must be brought down as fast as possible to boost confidence and cut borrowing costs. Spanish politicians have dithered about cleaning up the country’s banks, for fear that doing so would demand an injection of public funds which, in turn, would worsen the government’s finances.

Private debt, public pain

This fiscal focus gets things exactly backwards. Spain’s poor public finances, unlike those of Greece, are a symptom rather than the cause of the country’s economic woes. Before the crisis Spain was well within the euro zone’s fiscal rules. Even now its government debt, at around 70% of GDP, is lower than Germany’s. As in Ireland, the origins of Spain’s debt problems are private, not public. A debt binge by Spanish households and firms fuelled a property bubble and left the country enormously in hock to foreigners. After adjusting for all the foreign assets they own, Spain’s households, firms and government collectively owe foreigners almost €1 trillion ($1.25 trillion), or more than 90% of GDP. That is on a par with crisis-hit Greece, Ireland and Portugal, and far higher than in any other big rich economy. Spain’s banks were the conduit for this private borrowing binge, and are being hit hardest by the bust.

This episode features Institute for New Economic Thinking grantee Hans-Joachim Voth talking about the crisis in Europe. Voth, an ICREA Research Professor at the Universitat Pompeu Fabr in Barcelona and a German native, offers a unique dual perspective of a German seeing the impact of his home country's actions in Spain. Voth explains the short-sightedeness of Germany's handling of the euro zone crisis and suggests what Germany needs to do to help Europe finally emerge from the crisis. Below is an introduction from interviewer and Director of Institutional Partnerships Marshall Auerback. Watch the interview to see what Voth has to say!


Last year, there was a great sense of crisis about Europe, especially Spain.

The alarm was reasonable, as Spain was the one large economy where all the economic numbers appeared to have gone past the point of social acceptability: 25% unemployment and over 60% youth unemployment for those under age 25.

But as the country was collapsing, Germany continued to insist on “fiscal responsibility” and resisted significant recapitalization of Spain's banking system, which had collapsed in the wake of the country's real estate crash. Yet the only way to reduce the country's government deficit, as Hans-Joachim Voth argues in this interview, is by reduction of the private sector’s saving (which has deteriorated rapidly) or by movement of its current account toward surplus. Not coincidentally, Germany is a large net exporter, with competitive advantages over Spain.

Since Spain has adopted the euro, it cannot improve its competitive position by devaluing its currency. Its only hope for increasing exports is through a “race to the bottom” reduction of wages and other domestic prices. But doing so will reduce aggregate income and tax revenues—and this is a precarious path toward a current account surplus in any case because other periphery nations are in the same situation.

It is not clear that Spain can win the race to the bottom—against countries like Ireland, for example—and even if it were to win the race, that would simply mean that some other loser would take Spain's place.

Germany can only be a net exporter to euroland if some other euro nations are willing to be on the other end of the transaction. France, Italy, Belgium, and Spain are among Germany's 11 largest export partners, with each of these countries having a net deficit with it. It is the government and private deficit in these countries that’s effectively financing Germany’s exports and allowing it to run fiscal surpluses. Germany’s push for fiscal austerity combined with its export policy simply amounts to a mercantilist-type beggar-thy-neighbor policy of exporting its unemployment to its trade partners.

Within euroland, this strategy is at best a zero-sum game so long as Germany insists on fiscal austerity for all nations and yet plans current account surpluses for itself.

It is hard to fathom what the Germans are thinking, because as the crisis spreads from the periphery to the core, Germany’s export markets will fall like dominoes. Voth discusses the crisis in these terms in the following interview and illustrates the futility of trying to achieve euro zone-wide prosperity with a race to the bottom in a continent still characterized by woefully deficient demand.

What are his suggestions to end the crisis? Watch the interview to find out!

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help design 11 plus curriculum of pro-youth futures

Norman Macrae Youth Economics Foundation Washington dc hotline 1-301 881 1655

The network friends of The Economist's Unacknowledged Giant invite you to  join in Norman Macrae Youth Foundation projects . These involve


update the world's leading pro-youth economist and entrepreneurial revolution debate of your country's future - last officially published surveys in The Economist except where stated

S. Africa 1968 - origin of Entrepreneurial Revolution genre

Next 40 years of global village economy 1972; 3 billion jobs report 1984 as a book


East of Egypt


Japan 62 to 80



Help search out how many of the 100 greatest investors in worldwide youth come from your nation or mother tongue?


Celebrate the million times more collaboration dynamics of future of global village capitalism Hunt   for 30000 microfranchises - valued and mapped through peoples social networks as mainly open source solutions to communities greatest sustainability challenges which communities need to empower their own knowhow around - eg the worldwide affordability of health depends on open education of 100 million new nurses seen as both a communities most trusted service worker and mobilized as its greatest information connector

44444444444444  Will your nation provide a lead chapter in calling for education to be core summit of post 2015 millennium goals- only open education can hel;p youth collaborate in 10 times more health and wealth

Entrepreneurial Revolution - year 42 from The Economist's pro-youth economist Norman Macrae

discuss valuation video

Norman Macrae Foundation


Wash DC tel 1 301 881 1655

welcome to most valuable missing curricula OPEN SOCIETY world has ever needed to cross-culturally search for

Joint Home with The Economist since 1972 of The Job Creating curricula of Entrepreneurial Revolution


  • Practical Curricula of 7 global market sectors whose locally sustainable purposes need to be most urgently searched by 7 billion people and collaboratively empowered by hi-trust communal investments in worldwide youth
  • 10 green bottles curricula mapping massive open change to economic abundancy of million times more collaboration of post-industrial networking- annual summary of greatest differences between past ad future that it ought to be a democratic economists number 1 responsibility to - eg by 1976 a young Romano Prodi was celebrating this as critically important to mediate all over Southern Europe


How did Norman Macrae become pro-youth economist? After spending last days as teenager navigating planes in ww2 over modern day Bangladesh and Myanmar, Norman was tutored in Cambridge Corpus Christi by Keynes: increasingly only economists will design or destroy futures youth need most .Fast forward one quarter after 25 years of editing leaders for The Economist

;1972: Norman Macrae starts up Entrepreneurial Revolution debates in The Economist. Will we the peoples be in time to change 20th C largest system designs and make 2010s worldwide youth's most productive time? or will we go global in a way that ends sustainability of ever more villages/communities? Drayton was inspired by this genre to coin social entrepreneur in 1978 ,,continue the futures debate here

online library of norman macrae - The Economist's Unacknowledged Giant

is any computer science major (or any parent) interested in affordable education also interested in MOOC ?

my dad (isabella's grandad) first became The Economist's net generation future correspondent in 1972 when we saw 500 youth sharing knowledge on an early digital network

The Economist's year-end article on MOOCs revolution to whole of education is here

I am spending most of 2013 connecting youth and MOOC and job creation;after spending most of 2012 on jobs competitions

chris macrae washingtion dc hotline on moocs and net generation's 3 billion new jobs 301 881 1655


RSVP if you are passionately interested in MOOCs orconnecting Norman Macrae's last projects 1 2 3 4-


helping net generation youth map three billion new jobs of post-industrial revolution- or start by discussing Freedom of Economics

Timeless ER from The Economist's Unacknowledged Giant (aka dad Norman Macrae) A b c ;;1997 a;;; 1983 a ;;;1976 a b;;; 1972 a ;;; 1962 a 1956 a - correspndence with optimistic rationalists always welcome -

NEWS from 170th year of newspaper founded to end empire economics through mediating the social action goals of end hunger and end
capital abuse of youth

Number 1 debate of yunus 2050 bookclub

MILLENNIUM OF BRAND PART 2 to 1988 survey year of brand
Let us suppose as people experienced in branding or in mediating hi-trust open search we can identify the brand which can sustain the most people's productive lifetimes round achieving millennium goals voted for by the net generation
before we get to the thorny question of is the worldwide's favorite brand the leaders of superstars give back to communities, or telecentres owned by the poorest or other youth networks needing to job create, or free tertiary education or MIT or or or in conjunction with mo ibrahim transparency awards as prototype world service model for every continent, or Japan-borderless-economics or was it what The Economist was founded in 1843 and backed by queen victoria to do in helping her transition raj economics from empire to commonwealth? admittedly a project she commanded too fast with james wilson losing his life to diarrhea 9 months after being relocated to calcutta ( whose free healthcare network solution of oral rehydration grew the reputation of brac in bangladesh and obama's candidate for next world bank partners in health of Haiti)
what if currency in the future isnt planned by a few noisy politicians trying to re-elect themselves but is exchanged by the organisations that are most collaborating in 7 billion peoples improvement of the human lot and full lifetime if productivity - an idea that my father first called maximising gross world product as distinguished from gross national product
(long ago states became a minority of the top 100 economies judged in terms of separated systems)
will digital cash systems make this easy to brand provided the world's most trusted brand is chosen first - one which by definition will need to be owned in trust by everyone but arguably with more voting power to the next generation or those that have been compound excluded by the way political systems got mass mediated since world war 2
anyone else interested in co-editing this discussion doc or am I talking to myself? timing japanese embassy as guardians of happiest economics for asian pacific century are discussing such issues with sir fazle abed and friends of my father tomorrow night
chris macrae, Dhaka



Hot Discussion October:

Economics Millennium Challenge

Sample some hot discussions in july



Chartering is an open Question & Answer method of mapping which we invite all most passionately interested in an unique purpose and heroic goal to linkin. . It was developed by a NM ER microeconomics network and published by the Economist Intelligence Unit in early 1990s. Our chartering network aims to focus first on the world's most unique value multiplying purposes.


Since 1982 Norman argued that service economies are sustained by interfacing great open projects- he then clarified how in true knowledge networking economics, people would quickly need to map why separated organisational structures often compound least economic impacts. At this community we will demonstrate how chartering works with a few small projects whose purposes we founded

  • Journal of Social Business
  • Opentech Parnter roundtables convened at places magic moments in 2010s race ton pro-youth economics


as well as a few giant projects we have tracked for a long time and believe to be absolutely critical to 2010s sustaining youth's most exciting decade

  • Paris as Social Business Capital of world ; DanoneCommunities
  • Social Business Chairs with a capital's multiple seats
  • SingforHope
  • Micro TechLab at Fukuoma Social Business City and Kyushu University
  • Yang Yin Bao
  • BankaBillion
  • Jamii Bora
  • Wholeplanetfoundation
  • Interface
  • Crowdmapping

This is our 35th year of helping Entrepreneurial Revolutionaries and networkers connect round the most heroic goals all are children want. It has been the greatest editorial privilege> Until Norman's passing in 2010 it was possible for 3 Macraes to meet and discuss detailed social experiences of work with youth in over half of the world's nations. As Internationalist Scots we build on 6 generations of our families's practical experiences across hemispheres and love of transparent maps of empowering productive lifetimes for and by all.

Main ER interests of this community are:

organisational stories


Mapping Greatest Purposes ever sustained across generations especially at times of extraordinary change- we invite future correspondents to this for the 16 most life-critical global markets


networks which seemed to be the defining change of productive lifetimes of anyone born after 1950


value multiplication which happens in hi-trust relationship architectires where everyone's best effors are trasparently linked in to win-win-win business modelsand sustainably rising exponentials - this can only happen in places and cultures where long-term investors are heroised more than speculators

More specific entrepreneurial revolutionary maps are linked in by our associate nings:

  • YunusCity: Increasing productivity of youth and poorest as Asia Pacific century leads


  • Jamii Bora - increasing productivity of youth and families in Africa and South



consider 3 of the most valuable maps of the future ever open sourced Bangladesh 2010, Internet 84, Asian Pacific www century 1976-2005 along with ER 1976 & Joy of Economics

The unacknowledged giant

The unacknowledged giantAdd to PlaylistNorman Macrae is remembered as the Unacknowledged Giant of The Economist. Actually he acted as the world's favourite hub for economics of entrepreneurs before there were hubs for enrepreneurs to collaboratethrough.
Economics is joyous when it helps peoples advance the human lot or when parents can see their investments in children and community are developing opportunities and lives that they could barely have dreamt of.

We suggest the term baddest bank be used to identify those from which freedom of peoples and nations may not be quite the same again. As an internationalist Scot, this sub-editor has a special interest- a banking scam at the start of the 1700s! led to the failure of Scotland as an independent nation, the hostile takeover of Scotland  by England, the need for more that half of Scots to emigrate to make a living in other parts of the world making Scotland one of the first diaspora nations. While worldwide entrepreneurial networking may have gained from this local banking fraud, its amazing that peoples all over the world haven't yet required economists to be transparent about the exponential consequences of bad banking -any parent owes it to their children of the net generation to sort this out now so that we get back to the 2010s being the most productive time for worldwide youth

clic pic above to download first issue of pro-youth economics edited by adam smith scholars out of Glasgow




2010s Youth's Most Trusted Brands : Grameen & Danone 1 2
Other Formal GG Partners

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