LSE Business Review

LSE Business Review Weekly Digest.
This week on LSE Business Review
How we feel depends on what we pay attention toPolicymakers are increasingly focusing on wellbeing as a policy goal, leaning on wellbeing measures to aid their work. Paul Dolan writes that the existing frameworks fail to properly account for the fundamental mechanism that determines our wellbeing: what we attend to. Together with colleagues Kate Laffan and Laura Kudrna, he created the Welleye framework, which shows the role of attention in linking the objective circumstances of people’s lives to how they spend their time – and ultimately to how they feel.Legal perception and finance: when the perception matters more than the actual lawHow people perceive the quality of the law can affect companies in many ways. Gerhard Schnyder, Anna Grosman, Kun Fu, Mathias Siems, and Ruth V. Aguilera explore the underdeveloped role of legal perceptions in initial public offerings (IPOs), when companies list their shares in a stock exchange. They find that what drives IPO valuation is how shareholder protection laws are perceived, rather than the actual quality of the legal protection. Omicron raises fresh questions: the economy, travel bans, and vaccine distributionWith the emergence of a new strain of the virus that causes COVID-19 re-opening debates about the economic impact of the pandemic, the success of efforts to achieve global distribution of vaccines and the value of travel bans, The Initiative on Global Markets invited experts to express their views on these issues. Romesh Vaitilingam summarises their views.Can competition law rein in Big Tech?Large technology companies such as Google, Facebook, Apple, and Amazon have a large impact on the economy and wider society, and that raises concerns on many fronts, ranging from data protection to the democratic will formation process. They also tend to become monopolies, which poses a challenge for competition law. Raphael Reims analyses the problems inherent in regulating Big Tech.The political economy of central bank independenceCentral bank independence, which increased over the past 50 years around the world, has recently come under pressure. There have been numerous studies about the consequences of independence for monetary authorities, but the causes of reform have received less attention. Davide Romelli investigates why and how central bank reforms come about, using a cross-country database on the timing of legislative changes. He identifies a number of challenges, including the increase in nationalism, the large build-up of sovereign debt, and climate change..Why some people grow from setbacks and others don’tTwo people can face similar difficult situations at work, but one may be enlightened by it, while the other just shrugs and moves on. Why? Todd J. Maurer writes that experience alone cannot help people develop along their careers. What can make a difference are the insights that they draw from those situations. He identifies two underlying characteristics of people who learn from setbacks: they look for causes within themselves and then work out ways to improve them.
Around the web
The Corporate Insurrection: How companies have broken promises and funded seditionists. Since the Jan. 6 insurrection last year in the US, 717 corporations and industry groups have funnelled over $18 million to the re-election of members of Congress who objected to the 2020 presidential election results. CREW (h/t @andrewrsorkin)New wave of Jan. 6 conspiracy theories. In the wake of mainstream platforms cracking down on bigger conspiracy groups, the organization of extremist movements has decentralized and is now focused on people who are becoming more active in local elections, including school boards. AxiosAs Beijing Takes Control, Chinese Tech Companies Lose Jobs and Hope. The crackdown is killing the entrepreneurial drive that made China a tech power and destroying jobs that used to attract the country’s brightest. NYTimes NFTs move to influence Congress, even if lawmakers have no clue what they are. For the first time, a company has registered to lobby the federal government on non-fungible tokens. Politico China’s young women say they don’t need kids to win at life, defying Beijing. China has been incentivising young adults in China to start a family – including an overhaul of family-planning policies to allow people to have three children. SCMP What Really Happens When Workers Are Given a Flexible Hybrid Schedule? Who goes into the office and when largely depends on where employees fall on the org chart. Bloomberg BusinessweekThe secret to self-improvement is embracing your messy, imperfect life. It’s only when you learn to accept who you are, flaws and all, that you can make real, worthwhile change. The Guardian How Will the History Books Remember 2021? We asked 18 top historians to imagine how this year will be written about a century from now. Politico After ALS struck, he became the world’s most advanced cyborg. Scientist Dr. Peter Scott-Morgan is pushing the boundaries of what it means to be human. Input 2021 was the year clean energy finally faced its mining problem. A clean energy revolution will hinge on getting mining right. The Verge How to calm your inner storm. When your emotions become too painful and overwhelming, regain control using skills from dialectical behaviour therapy. Psyche One-third of workers would take a pay cut to never dress for work again. Here’s how retailers are responding. Out with the suits, in with the stretchy chinos. Fast Company The Pandemic Might Have Redesigned Cities Forever. Changes small and large—parklets, outdoor restaurants, bike lanes—could remake our relationship to cities (and help fix climate change). Wired News engagement fell off a cliff in 2021. Engagement with news content plummeted last year compared to 2020 and given the ongoing decline in interest in news about COVID-19 and politics, it doesn’t look like 2022 will be much better. Axios Money in the Metaverse. In a virtual world full of virtual goods, finance could get weird. NYorker The Coming Carbon Tsunami. Developing Countries Need a New Growth Model—Before It’s Too Late. Foreign Affairs Inside Israel’s lucrative — and secretive —cybersurveillance industry. The country’s hacking software is recognized the world over. Not everyone thinks it’s a good thing. Rest of World Bye, paper currencies: How blockchain and fintech will soon transform Money. Digital currencies are set to upend paper currencies, but it likely won’t be the decentralized utopia some hope it will be. Big Think Supply chains: companies shift from ‘just in time’ to ‘just in case’. Businesses exposed by pandemic shortages and shipping bottlenecks are being forced to rethink their operations. FTThe Return of the Urban Firestorm. What happened in Colorado was something much scarier than a wildfire. Intelligencer