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Is the World Ready to Confront Climate Change?

In advance of the UN climate talks in Paris, the World Bank called for rapid and inclusive development that will mitigate the impact of climate change on the planet’s poorest people.
A poll by Pew found that a majority of people in 39 of the 40 countries surveyed support placing limits on greenhouse gases (Pakistan was the sole exception). Africans and Latin Americans are the most concerned, according to a breakdown by the New York Times. Russia has shown little engagement with the issue; President Vladimir Putin is a skeptic and the state-controlled media’s coverage is described as “climate silence,” according to the Washington Post.

A new study, published in Nature, found that left unchecked, climate change will shrink the global economy 23% by 2100. At the same time, inequality will be exacerbated because warming will do the most harm to poorer countries, according to the Washington Post.

Are Patients Ready to Be Consumers?

Are patients ready to be consumers? Just one in seven people understand the basic parts of a health insurance plan. Providers rarely know the costs of the services they recommend. Insurers are uniquely positioned to educate and align incentives along the patient-insurer-provider triad, but Dr. Rena Xu, writing in the New Yorker, finds little evidence that that’s happening.

Using a behavioral economics lens, the New York Times ticks through the many hurdles consumers facing in choosing the best health plan for their circumstances. 


The Business of Climate Change

The U.S. and China have many differences. But, Orville Schell, writing in Yale Environment360, sees climate as an unexpected point of agreement between the the world's top two emitters of greenhouse gases.

International cooperation on climate change doesn’t just mean nation-to-nation. Michael Bloomberg and John Kerry argue that city-to-city sharing of best practices is critical, in a Bloomberg View op-ed. Noting that cities account for 70% of greenhouse gas emissions and 90% are located in areas vulnerable to extreme weather and sea-level rise, they highlight implementable innovations.

Yale Insights reports on a discussion about the Paris climate negotiations, where the business sector will have a seat at the table for the first time.

Can We Stop Hackers Before They Strike?

Organizations receive an average of 17,000 cyber threat alerts each week. The New York Times reports on a Virginia cyberintelligence startup that searches the “dark web” for signs of hackers' next steps and provides customers, including government agencies and large businesses, with guidance on how to stay ahead of attacks.

Yale’s Paul Bracken describes how the Pentagon helped spark the development of a defense technology hub in northern Virginia—the latest chapter in the history of defense spending as a driver of technology and innovation.

Can CEO Pay Be Reined In?

The SEC’s new rule requiring companies to disclose the ratio of CEO pay to that of the median employee unleashed a flood of praise and criticism. The New York Times highlights some reasons it might reduce outsized executive pay. The Atlantic points to an alternative: Lynn Stout’s recommendation that limiting corporations’ ability to deduct executive pay from their taxes would have a far larger impact. Yale Insights talked with Stout about executive compensation and the role of shareholder value in setting direction in corporations. 

In Global Network Perspectives, Clemens Otto of HEC Paris reports that optimistic CEOs get paid less than their pessimistic peers. 

A Financial Singularity?

Professor Robert Shiller recently took on the idea that algorithmic trading is driving the investing universe toward a "financial singularity" where all alpha—a measurement of risk-adjusted returns—will go to zero. He writes, “Human judgment, good and bad, will drive investment decisions and financial-market outcomes for the rest of our lives and beyond.”

In a conversation with Yale Insights, Robert Litterman, a pioneer of quantitative investing, said that algorithm-driven investing has become more and more sophisticated as once-successful approaches are disseminated and lose their edge. But he also highlights the human part of the investing equation: “You can bring statistical evidence to bear but you also have to bring judgment to bear as well.”

Can Iran be trusted?

After a preliminary deal with Iran was announced earlier this month, Jessica T. Mathews, the former president of the Carnegie Endowment for International Peace, wrote in the New York Review of Books that any final agreement should be seen as only the beginning of a process for achieving a nonnuclear Iran.

“Those who worry that a deal with Iran will entail some risk should remember that preventing nuclear proliferation almost never happens in a single leap,” she wrote. “Countries change direction slowly. International rules and norms are built up brick by brick over years. Technical capacities to monitor and political expectations are gradually but steadily strengthened.”

A few weeks before the agreement was announced, Prof. Edieal Pinker examined the negotiations through a game theory lens.

What bias and discrimination do women still face as leaders?

Do activist investors target women CEOs? The New York Times’ Dealbook points out that only 23 companies in the S&P 500 are led by women, but a quarter of those are being targeted by activist investors. The investors deny any gender bias, and most of the CEOs refused any comment, but one said, “You’re onto something.”

The Times cites research by Yale SOM’s Victoria Brescoll showing that female leaders are perceived negatively, by both male and female listeners, when they talk as much as male peers. 

Last year, Brescoll and Prof. Jeffrey Sonnenfeld wrote an op-ed about the bias and discrimination that persist for powerful women in corporate America.

What were the environmental keys to 2014?

Mark Tercek, CEO of the Nature Conservancy, presented a list of 10 reasons to be encouraged about progress on environmental issues in 2014, starting with the climate accord between the U.S. and China.

In a conversation with Yale Insights, Yale professor Karen Seto discussed sustainability and urbanization in China.  At the opening of the Yale Center Beijing, a panel discussion focused on challenges of economic growth in China in the face of environmental limits.

Tercek spoke to Yale Insights in 2009, soon after leaving Goldman Sachs for the Nature Conservancy, about his approach. 


What's next for luxury brands?

Luxury products often seek to evoke feelings of timelessness, but luxury brands must adapt to an ever-changing and increasingly global market. At the New York Times’ luxury conference, François-Henri Pinault, CEO and chairman of Kering, the parent company of Gucci and other luxury brands, described how sustainability efforts and new technology shape the business.

Maureen Chiquet YC ’85, CEO of Chanel, talked with Yale Insights about bringing French design to global markets. And Chris Cabot ’97, who leads Value Retail’s luxury fashion outlets in China, discussed entering new markets.