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The Inspired Economist: Pick of the Week

 

This column highlights the top economic stories of the week.

General Electric CEO Jeff Immelt is on a mission to improve U.S. exports. That’s because General Electric doesn’t just sell light bulbs and refrigerators to the American public. The company is a global giant in energy, transportation and financial services. More on this story here.

With a full House vote expected this week on the American Clean Energy and Security Act (or Waxman-Markey), all eyes turn to the nation’s energy policy. President Obama is committed to an energy plan that will generate millions of new jobs, break our dependence on foreign oil, reduce the threat of dangerous carbon pollution and restore America’s role as a global leader in the clean energy industry. More on this story here.

Online business and social networks, in contrast to the old kind, are open to all and easy to join. A year ago it took LinkedIn over a month to win 1m new members; it now takes about 15 days and the site has 42m members around the world. More on this story here.

It appears that companies are realizing that zero emission electric vehicles should not just be for the “rich”. In May, Nissan announced that it would begin electric cars in the U.S. to be available in 2010. This week, they announced they would mass produce a zero-emissions electric car by 2012 that would be affordable. However, during a Nissan shareholder’s call Chief Executive Carlos Ghosn refused to speculate on the sticker price. More on this story here.

At one point, it seems as though virtually everyone has sat in front of washing machine and watched the soaked clothes tumble through the suds. That tradition may be a thing of the past if a new “virtually waterless” laundry machine finds its way to the mainstream. More on this story here.

The Economist tells us that the number of people with net assets of at least $1m (excluding their homes) fell by 14.9% in 2008, according to an annual report from Capgemini and Merrill Lynch. The total wealth of these 8.6m “high net-worth individuals” stood at $32.8 trillion. Over half of the super-rich live in America, Japan and Germany, but China passed Britain to take fourth place for the first time.

Written by Reenita Malhotra

Reenita Malhotra Hora is an Ayurveda clinician, entrepreneur, writer and mom. Her experience has ranged from running Ayoma, an Ayurveda business to running a natural health practice at San Francisco's California Pacific Medical Center.

Reenita is a published author of two books books about health and wellness: ‘Ayurveda - the Natural Medicine of India’ and
‘Inner Beauty’. She is also the Editor for Green Options Media's business blogs and a freelance writer for a variety of print and web publications.

In quieter moments, she likes to spend her time hiking, swimming the warm seas, cooking with the family or writing fantasy fiction adventure stories for kids from from 2 to 92.

Check out her wisdom at www.reenita.com

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  1. “At one point, it seems as though virtually everyone has sat in front of washing machine and watched the soaked clothes tumble through the suds. That tradition may be a thing of the past if a new “virtually waterless” laundry machine finds its way to the mainstream.”

    Please read th story – it is not even available yet – anywhere let alone in the mainstream. With luck it will actually work but that is yet to be seen.

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