2015-01-24 Economist.pdf

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Free speech and hypocrisy
Who buys negative-yield bonds?
Skiing in China
Africa’s private-equity boom
JANUARY
24TH
–
30TH 2015
Economist.com
Marlboro Man rides into the sunset
America’s new aristocracy
Education and the
inheritance of privilege
Contents
6
The world this week
33
9
10
10
11
Leaders
Education and class
America’s new aristocracy
Nigeria and Boko Haram
Africa’s Islamic State?
Private equity in Africa
Feeding the beast
Freedom of speech
First—and last—do no
harm
The sea
How to catch the
overfishermen
34
35
35
36
Asia
Pakistan after Peshawar
The man with a plan
India and America
Come, meet Mum
Japan and jihad
Sand storm
Indonesian politics
Jokowi’s jinks
The South China Sea
Oil on troubled waters
The Economist
January 24th 2015
3
12
On the cover
As the importance of
intellectual capital has
grown, privilege in America
has become increasingly
heritable: leader, page 9.
The children of the rich and
powerful are getting better
suited to earning wealth and
power themselves. That’s a
problem, pages 17-20
The Economist
online
Daily analysis and opinion to
supplement the print edition, plus
audio and video, and a daily chart
Economist.com
Letters
14 On freelance workers,
Canada, India, GM foods,
Wagner
Briefing
17 America’s elite
An hereditary meritocracy
18 The world’s nurseries
Getting ‘em young
United States
The state-of-the-union
address
“Middle-class economics”
The Republican response
When Joni poked Barry
Race and the Supreme
Court
Disparate dilemma
Prison “video visits”
No touching allowed
Mens rea
Unwitting criminals
Catching spies
James Bond’s body
language
Disability insurance
How to discourage work
Lexington
Hugging the Saudi floggers
The Americas
Justice in Argentina
The president and the
prosecutor
Venezuela
Empty shelves and rhetoric
United States-Canada
relations
A standoff on a sea route
Bello
The Mexican morass
China
37 Urbanisation
The great sprawl of China
38 Skiing
Pumping up snow
40 Banyan
Terrorism: a perceptions
gap
Middle East and Africa
Iranian foreign policy
The long arm
Islamists in Jordan
The king and Islam
Instability in Yemen
Held hostage
The UN goes to war
Ever again
The fight against Boko
Haram
The insurgency spreads
Europe
Italy’s reforms
Renzi’s struggle in the
swamp
German politics
Gone boy on the right
French politics
After Janvier
War in Ukraine
Airport saga
Switzerland’s currency
Shaken, not stirred
Spain and Catalonia
Mas observation
Charlemagne
Germany and the ECB
Free speech and hypocrisy
Speech should be freer than it
is in many Western countries:
leader, page 11. Reactions to
the Paris attacks highlight
threats to free expression
around the world, page 53.
Instead of uniting China and
the West, jihadist violence
risks further dividing them:
Banyan, page 40
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43
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44
E-mail:
newsletters and
mobile edition
Economist.com/email
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22
Print edition:
available online by
7pm London time each Thursday
Economist.com/print
Audio edition:
available online
to download each Friday
Economist.com/audioedition
45
23
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24
46
46
47
48
48
49
Islam and anti-Semitism
Anti-Semitism is in retreat in
Britain. Abuse of Jews, not so
much, page 51. Britain’s
conservative Muslims:
Bagehot, page 52. The German
right, page 46. Will the
Jordanian king’s attempts to
curb Islamism backfire? Page 42
Volume 414 Number 8922
Published since September 1843
to take part in "a severe contest between
intelligence, which presses forward, and
an unworthy, timid ignorance obstructing
our progress."
Editorial offices in London and also:
Atlanta, Beijing, Berlin, Brussels, Cairo,
Chicago, Hong Kong, Johannesburg, Lima,
Los Angeles, Mexico City, Moscow, New Delhi,
New York, Paris, San Francisco, São Paulo,
Singapore, Tokyo, Washington DC
26
28
29
30
30
Skiing in China
To satisfy
skiers, the bare hills in China’s
arid north are covered with
snow, page 38
31
1
Contents continues overleaf
4
Contents
65 Global inequality
The wrong yardstick
66 The Big Mac index
Oily and easy
66 Standard & Poor’s
Berated
68 Free exchange
Why central banks should
shrug off losses
Science and technology
Combating illegal fishing
Dragnet
The Beagle had landed
A spacecraft’s fate
Comet 67P/Churyumov-
Gerasimenko
Rosetta’s report
Archaeology
Scroll up, scroll up
Books and arts
The American civil war
A cause for all nations
Civil-war fiction
”Neverhome”
China and Pakistan
Geopolitical friends
Man of good hope
An African refugee
Families and
totalitarianism
Behind closed doors
American ceramics
Feat of clay
The Economist
January 24th 2015
50
51
51
52
Private equity in Africa
The continent needs a lot of
capital. Private equity offers
lessons on how to get it there:
leader, page 10. Investors are
getting hot for Africa, page 55
Britain
Ulster’s economy
A new kind of trouble
Anti-Semitism
Be not afraid
Topless pictures
Storm in a D-cup
Bagehot
Muslims in Birmingham
International
53 Freedom of speech
The sound of silence
54 Flogging a blogger
Victim of hypocrites
Business
Investment in Africa
A sub-Saharan scramble
Foreign firms in China
You’re still welcome
America’s oil industry
The tough get going
Italian football
More than trophy assets
Telecoms in Myanmar
Mobile mania
Publishing
Spotify for books
Schumpeter
Frugal innovation lives on
Finance and economics
The sustainable
development goals
The economics of optimism
Buttonwood
Negative yields
Quantitative easing in
the euro zone
Better late than never
Financial technology
Connect 450
Ukraine and the IMF
Bigger, but not better
Foreign exchange
Swiss miss
70
71
71
Illegal fishing
Big data allow
fish to be protected as never
before. Governments should
take advantage of this: leader,
page 12. A new satellite-based
surveillance system will keep a
sharp eye on those plundering
the oceans, page 70
Money-shredders
Two-year government-bond yields, %
2.0
Germany
1.0
+
55
56
57
58
58
59
60
72
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Japan
2010
11
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Switzerland
13
14 15
–
1.0
Source: Thomson Reuters
Negative-yield bonds
Why
investors would opt to lose
money: Buttonwood, page 62
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Marlboro Man’s sunset
Our
obituary of Darrell Winfield,
the ultimate cowboy, page 82
80
Economic and financial
indicators
Statistics on 42
economies, plus a closer
look at football wealth
Obituary
82 Darrell Winfield
Marlboro Man
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The Economist
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