Entries by F. Thomas O'Halloran

    Growth River No. 6: The North American Energy Revival Led by Shale and Solar

    February 25, 2015 11:30 AM by F. Thomas O'Halloran

    The boom in shale gas and oil has ushered in much lower oil and gas prices, which should be supportive of economic growth. Meanwhile, renewable energy sources, led by solar energy, are making progress. 

    Who expected the current low oil and gas prices as recently as one year ago, and how did they come about? 

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    Growth River No. 5: Emerging Nations and Their Mushrooming Middle Classes

    February 24, 2015 12:30 PM by F. Thomas O'Halloran

    While Russia and Brazil are struggling and China’s growth is slowing, a number of other emerging markets have overcome significant structural issues to spread prosperity. 

    The superior growth rates of emerging nations, relative to the developed world, are giving rise to an expanding middle class in these nations. This is lifting millions of people out of poverty.


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    Growth River No. 4: American Manufacturing's Renaissance

    February 18, 2015 6:00 PM by F. Thomas O'Halloran

    American manufacturers are benefiting from an improved comparative advantage versus other nations, larger markets, and most importantly, from a technology-driven productivity boom.

    America’s industrial base has certainly taken its lumps over the years. But three trends have converged to create a renaissance for American manufacturers. These include an improved economic comparative advantage for U.S. companies (driven by more favorably currency and relative wage differentials, and the shale energy revolution), new emerging nation markets which have created much larger sources of demand for their products, and a technology-driven surge in productivity. The third of these is quickly overtaking the first two as the most powerful influence. 

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    Growth River No. 3: The Dynamic U.S. Consumer Society

    February 17, 2015 6:15 PM by F. Thomas O'Halloran

    Shoppers of the world, rejoice!  Amidst constant innovation in product development, distribution, and social media, consumers are savoring a plethora of choices. 

    In Civilization—The West and the Rest, historian Niall Ferguson explains the historical uniqueness of the United States’ consumer society—so all-pervasive today that it is easy to assume this has always been the case. Yet, in a larger historical context, it is one of the critical factors that propelled the West ahead of the rest of other nations.

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    Growth River No. 2: Modern Medicine and the Genomics Revolution

    February 6, 2015 10:55 AM by F. Thomas O'Halloran

    Nothing illustrates the allure of transformative innovation like genomics—the study of genes and their function. This is the basis for new medical advances. 

    Modern medicine achieved dramatic breakthroughs in the nineteenth and twentieth centuries, many of these on the battlefields of war and in the  dank colonies of the British Empire. The digital boom is leveraging this progress through the twenty-first century genomics revolution. The genomics revolution has made major strides in the diagnosis and treatment of diseases. These have led historian Niall Ferguson to characterize modern medicine as Western Civilization’s killer app.

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