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Wednesday, October 28, 2015

Economist Films: Prison reform in Norway compared with the US

Economist Films: More former prisoners are reoffending than ever before. It reveals the latest efforts to break the cycle in the first episode of the new Economist Films series.

 

In Norway according to Business Insider fewer than 4,000 of the country’s 5m people were behind bars as of August 2014. There were about 4,200 Irish prisoners on 30 Sept 2015.

Norway’s incarceration rate is just 75 per 100,000 people, compared to 707 people for every 100,000 people in the US.

On top of that, when criminals in Norway leave prison, they stay out. It has one of the lowest recidivism rates in the world at 20%. The US has one of the highest: 76.6% of prisoners are re-arrested within five years.

The Economist wrote in 2014 that prisoners are often released with no supervision and no help finding a job. That makes them more likely to reoffend. According to a report published in June 2014 by Pew, a think-tank, the number freed with no form of parole has more than doubled over the past 20 years, though this varies a lot from state to state. In Florida 64% of prisoners leave like this; in California the figure is less than 1%.

One US study found that within three years of release, about two-thirds (67.8%) of released US prisoners were rearrested.

In 44 US states the biggest mental-health institution is a prison, and police spend much of their time dealing with the effects of untreated mental illness (see article). But it is not the only one. British police spend as much as two-fifths of their time dealing with cases that involve mental illness, though few have the necessary training. Across Europe, 40-70% of prison inmates are mentally ill.

Badly educated men in rich countries have not adapted well to trade, technology or feminism

The Financial Times reported today that in 2015, the number of over-60s in jail topped 4,000 for the first time on record, more than double the figure 10 years ago. It is the fastest-growing age group in custody and the rise relates to recent convictions for sex abuse dating from past decades.

Wednesday, October 21, 2015

The fund management fee racket

Charley Ellis, author of 'Winning the Loser's Game', explains to the FT’s John Authers how, almost uniquely, the fund management industry has managed to avoid competing on price.

 

Sunday, October 18, 2015

Prospects for Spain’s recovery 

FT deputy editor John Thornhill speaks to Luis de Guindos, Spain’s minister of economy and competitiveness, about the country’s nascent economic recovery, how its high unemployment rates can be tackled and what reforms are still needed.

 

What opportunities are there to invest in Spain and what impact will the country’s upcoming election have on investor confidence? FT hedge fund correspondent Miles Johnson speaks to Joseph Oughourlian, chief executive of Amber Capital.

 

Wednesday, October 14, 2015

Push to keep the UK in the EU has begun

The push to keep the UK in the EU has begun, with the launch of the Britain Stronger in Europe campaign. But as Janan Ganesh explains to Lionel Barber, the editor of The Financial Times, there will never be a clear answer to the Europe question, despite a referendum.

 

Sunday, October 11, 2015

Limerick chartered accountancy firm using stolen Finfacts content

Plagiarism is common on the web and when a business firm takes the complete content of articles from the Finfacts website plus images, and presents it as its own, it's a bridge too far.

MacLoughlin & Company says it "is a small Chartered Accountancy Firm which specialises in Tax, accounting and business solutions to the Limerick area."

It has 209 articles in its website's news section and apart from Finfacts content, there are articles from several foreign sources including this week a complete piece on the sale of a Picasso painting that also appears in The Guardian newspaper with the byline: "Mark Brown Arts correspondent" — MacLoughlin & Company may have contracts with the foreign sources but it has none with Finfacts.

We have no problem with fair use of content with a hyperlink to the original source but in this case the full content that involved significant research, has been republished and is presented by the firm as its own. 

We have submitted a complaint to the Chartered Accountants Regulatory Board.

Irish Politics: Scraps on tax & welfare in place of vision — 9 Oct posted on Finfacts

http://www.finfacts.ie/Irish_finance_news/articleDetail.php?Irish-Politics-Scraps-on-tax-welfare-in-place-of-vision-252

http://accountantlimerick.ie/news/?article=214

Half Ireland's population paid public income supports in 2014 — 8 Oct posted on Finfacts

http://www.finfacts.ie/Irish_finance_news/articleDetail.php?Half-Ireland-s-population-paid-public-income-supports-in-2014-250

http://accountantlimerick.ie/news/?article=215

Irish Budget 2016: Bruton wants 30% flat tax rate for immigrants — 4 Oct posted on Finfacts

http://www.finfacts.ie/Irish_finance_news/articleDetail.php?Irish-Budget-2016-Bruton-wants-30-flat-tax-rate-for-immigrants-228

http://accountantlimerick.ie/news/?article=174

Friday, October 09, 2015

Pro-life, pro-gun, and hypocrisy in America

Trevor Noah of the Daily Show proposes that anti-abortion advocates like Carly Fiorina and Jeb Bush channel their pro-life rhetoric into another vital issue: gun control.

 

Presidential hopeful Ben Carson doubles down on condemnatory remarks he made about victims of a mass shooting at an Oregon community college.

 

Wednesday, October 07, 2015

Jack Dorsey back as CEO of Twitter to find some magic

Twitter has named co-founder Jack Dorsey as chief executive - even though he already runs start-up Square, a payment processing firm. Hannah Kuchler and Leslie Hook discuss what the move means for the companies and how he plans to tackle both their challenges at once.

Twitter v Square: will a joint CEO work? | FT Business Notebook

 

AOL's BBG Ventures Founder Susan Lyne discusses the permanent appointment of co-founder Jack Dorsey as Twitter CEO. She speaks on "Bloomberg Markets."

 

Finfacts 2013: Twitter's backstabbing founders set for IPO and firm valued at $18bn

[The new “permanent CEO” inherits a social network with stagnating growth, an arguably overpriced stock, and vitriolic content that’s turning off some high-profile users,] says Bloomberg News

Monday, October 05, 2015

Big Game, Big Money: The trade in African wildlife

The Financial Times reports that "Magude is the first staging post in a global supply chain that ends in east Asia, where rhino horn has long been coveted for its supposed healing powers.

It is one of three Mozambican towns investigators cite as a recruiting ground for poachers behind the intensifying massacre of rhinos. Just 40 miles of straggly bush to the west is South Africa and Kruger National Park. A decade ago it was a haven: poachers killed an average of 14 rhinos a year in South Africa between 1990 and 2007. The number rocketed to 83 in 2008, and 1,215 last year, about five per cent of Africa’s total population."

Prince William, who is president of United for Wildlife, writes today in the Financial Times:

"that conservation is about people, not just animals: the 1,000 park rangers who have been killed by poachers in the past decade; the victims of the militia organisations that use the profits of poaching to fund conflict and massacres; the millions of Africans whose economic security relies on a wildlife tourism industry but whose livelihoods are being destroyed. About 80 per cent of revenue received in Africa from tourists comes from watching wild animals, which are the ones most often threatened by poaching. The criminals who plunder the world’s natural resources are trapping fellow human beings in poverty, denying future generations the right to economic and social development. It is a vicious circle."