Petra Moser is an economic historian whose research investigates the origins of creativity and innovation. Her work exploits historical variation to examine the effects of patents, copyrights, and high-skilled immigration on technological inventions and artistic creativity. Professor Moser has taught microeconomics, economic history, and strategy at MIT, Stanford, and now as an associate professor of economics at NYU Stern.
|The Business Roundtable’s new Statement on the Purpose of a Corporation indicates a shift away from shareholder value maximization as the sole purpose of the corporation and toward a broader view of value creation.
This shift will have material impact on the well-being of U.S. workers.
|Disagree||8||“The section on 'investing in our employee' sounds like Henry Ford introducing the $5/day wage plus other services for employees in 1914. But Ford was trying to retain low-skilled workers engaged in repetitive tasks, whereas today's companies are competing for high-skilled people. Overall, the statement reads like an acknowledgment of larger societal shifts and less [as a] changing force itself.”|
|In the next decade, we will see the first sustainably profitable private commercial activities in space.||Disagree||9||“Private commercial activity in space within the next decade? Sure. Sustainably profitable? — 99% no. R&D investments are too high and too risky.”|
|Introducing 5G networks 3-5 years ahead of other countries will give Chinese firms an advantage.||Strongly Agree||10||“Whoever gets access to 5G first will be first to develop new technologies that require superfast speed, reduced lag time, or increased network capacity. A lag of three to five years creates a head start for Chinese firms that will be difficult to close.”|
|A hard Brexit will have a significant negative impact on many businesses, even if they do not have a U.K. or European presence.||Agree||8||“The time of isolated economics is long over. When the British economy tanks, Europe will be affected and so will firms in other countries, even if they don’t have any direct business with the U.K. or Europe.”|
|China is no longer the most attractive growth opportunity for Western multinationals.||Agree||7||“It’s just not that appealing to invest in a country where your competitors can reverse-engineer your technology and steal it, without you having any real recourse to IP protection. And the threat of a trade war doesn’t help. Together, these two threats create too much uncertainty and risk.”|
|In the next five years, the blockchain will have a transformative effect on finance in emerging markets.||Neither Agree nor Disagree||1|
|In the absence of a carbon tax, industry self-regulation can help mitigate the worst fallout from climate change.||Strongly Disagree||10||“Carbon dioxide emissions create monumental social costs, which are not covered by industries that burn fossil fuels. Firms have no incentive to volunteer paying for these costs. In fact, that would be a really dumb business decision. This is a place where ‘self-regulation’ fails, and we need evidence-based government policies.”|
|Amazon’s new $15 per hour minimum wage will force other companies to follow suit.||Disagree||9||“Even after Amazon fills all their jobs, they’ll be workers left who would work for less than $15. So unless Amazon competes in a very tight local market, other firms won’t be forced to follow.”|