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...long-ignored lower classes. And it's about time, says C.K. Prahalad, a consultant and economist at the University of Michigan, who says these "aspirational poor" - people earning less than $2 a day who make up three-quarters of the world's population - could contribute an additional $13 trillion in annual sales to the global economy, if only companies would drill deep enough to reach them. "Nearly 4 billion people have been under the radar of large companies up until now," says Prahalad, author of the book The Fortune at the Bottom of the Pyramid. "The moment you create...
...have about a $44 trillion dollar unfunded liability” from Medicare, Medicaid, and Social Security, he said to the young audience. “We can’t saddle you with these kinds of burdens...
...third time in six weeks, the stalemate over Gramm-Rudman nearly paralyzed the Government. The amendment, a rigid formula for budget cutting that has aroused concern even within the President's Cabinet, is attached to a bill to raise the national-debt ceiling to more than $2 trillion. Congress was faced with the threat of the Government going bankrupt in a matter of days unless the debt limit was increased. Failing once again to reach a compromise on Gramm-Rudman, the legislators granted the Government a one-month extension on its borrowing power. Upshot: by Dec. 12, Congress...
...long-ignored lower classes. And it's about time, says C.K. Prahalad, well-known consultant and economist at the University of Michigan, who says these "aspirational poor"--people earning less than $2 a day who make up three-fourths of the world's population--could contribute an additional $13 trillion in annual sales to the global economy, if only companies would drill deep enough to reach them. "Nearly 4 billion people have been under the radar screens of large companies up until now," says Prahalad, author of the book The Fortune at the Bottom of the Pyramid. "The moment...
...employers and employees pay into Social Security, his idea would allow workers to get a tax credit of 4% of their wages, up to $1000, that they put into savings accounts. Rather than paying for these accounts through benefit cuts or tax increases, Shaw proposes borrowing more than $3 trillion dollars to pay for this program, a number that while large, may be more politically feasible than benefit cuts or tax increases to help Social Security's solvency. Democrats have been almost universally opposed to any Republican ideas on Social Security, but Shaw says he's been meeting with...