Editor's Letter: The New Geography

There is a new definition of the emerging markets and their characteristics that confutes many old and accepted axioms; for example, the idea that the cost of labor is cheaper in developing countries, or that governance is more advanced and regulations are more enforced in developed countries.

US: Ratings Agency Fights US Lawsuit

MILESTONES   By Paula Green   Shareholders at McGraw Hill Financial, along with US taxpayers, could end up paying the price as the US government and one of the country’s major credit ratings agencies face off in a courtroom drama ...

US: Fracking’s Fractured Future

MILESTONES   By Ronald Fink   Recent write-downs of shale assets by BHP Billiton and Royal Dutch Shell have cast doubts on claims voiced in Washington, DC, that the US can attain energy independence as a result of the technological ...

US: Recovery Slow Despite GDP Revisions

MILESTONES   By Gordon Platt   Rewriting economic history going back to 1929, the Commerce department’s Bureau of Economic Analysis (BEA) increased the size of the US economy by $560 billion. That is the equivalent of the output of the ...