Supporters say that a higher minimum wage will give people a better standard of living and boost consumption. Detractors argue that it will lead companies to hire fewer workers and kill job creation. One thing no one addresses, however, is that regardless of whether the government raises the minimum wage, our society can’t endlessly coast with a system that includes wage stagnation for the many and soaring prosperity for the few, nor can the government snap its legislative fingers and magically produce income. Someone will pay for these increases; nothing is free. (The Atlantic)
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In June 2009, the last auto plant in Detroit was idle, mausoleum-quiet and a symbol of failure. Weeds had grown three-feet tall around Chrysler's sprawling Jeep factory at the desolate crossroads of Jefferson and Conner as the company went dark during bankruptcy. Among the bills the near-dead automaker couldn't afford to pay: lawn service. Yet on one Monday morning came the drone of lawn mowers and buzz of weed whackers – sounds of rebirth. (Bloomberg)
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The biggest problem we have in contemporary society is not that we do too little but that we try to do too much. All the pressures in the workplace and in the social domain are about collaborating, speaking up, stepping forward, leaning in – doing practically anything to be noticed and to get ahead. When all is said and done, doing nothing does not get much press. In fact, in our cyber age doing nothing has become almost impossible with all the distractions our iPhones and iPads provide. (Harvard Business Review)
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Nelson Mandela, who died on Dec. 5, emerged from 27 years in prison in 1990 pledging to seize South Africa’s mines and banks. Instead, his government slashed spending and courted foreign investors, paving the way for the longest period of growth in the country’s history. "Only a Mandela could have realigned the African National Congress’s economic policy from the mindset of the 1950s to the world of the 1990s and beyond," says Robert Schrire, a politics professor at the University of Cape Town. "He recognized that for the poor to prosper, the rich had to feel they had a future in the country." (Bloomberg/Businessweek)
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Will there be an open bar? Do I have to go? Can I bring my significant other? A few of the above questions may be dancing in your head when you receive the invite to your organization’s holiday party. These are reasonable questions – but if you want to use the events this month to advance your career, your primary question should be: How can I connect with the right people, in the right way? (Harvard Business Review)
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Okay, I know it sounds ridiculous. But accomplishing my preferred future requires this level of activity. I have the same 24 hours in a day that you do, but I have made specific choices that allow me to make the most of every day, and still feel happy and relaxed. Perhaps these tips will help you make the most of your time as well. (Inc.)
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Rebecca, a tech entrepreneur, would love you to equate her company’s expansive press coverage with real value creation. "Yesterday, we got written up in TechCrunch and LA Magazine, and we all had dinner at Nobu to celebrate!" She will, however, conveniently forget to mention that her startup has yet to settle on a viable business model and has zero paying customers. (Harvard Business Review)
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Nigerian Agriculture Minister Akinwumi Adesina has been named Forbes African of the Year for his reforms to the country's farming sector. "He is a man on a mission to help Africa feed itself," said Forbes Africa editor Chris Bishop. (BBC News)
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Buy a pair of Thinx and you'll be putting on underwear that looks good and is ingeniously designed. More importantly, perhaps, you'll be helping girls in Africa to not let their periods disrupt their lives. Here's the story behind the social innovation. (Fast Company)
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Their GMAT scores are 700-plus, in some cases as high as 790. They earned their undergraduate degrees at some of the best universities in the world, including the Ivies. They’ve worked for such prestige employers as McKinsey & Co., General Electric, Microsoft, Disney, Deloitte Consulting and Abbott Laboratories. And yesterday (Dec. 11) they were dinged by either Harvard Business School or Stanford University’s Graduate School of Business. How come? (Poets & Quants)
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Members of the Wellesley College faculty reacted strongly when word spread that Peking University might fire Prof. Xia Yeliang, a critic of the Chinese government. Professor Xia, an economist, had visited Wellesley over the summer after the college signed a partnership agreement with Peking University. (The New York Times)
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The National Black MBA Association® has launched "Educate a Thousand" – a giving campaign aimed at improving educational opportunities for African-American students at all levels. As you consider your giving during this holiday season why not make a contribution to the financial and educational support of students across the nation. Join us as we take action to ensure that African-American students are educated, empowered, and equipped to reach for the stars.

Think about our future. Think about our community. No contribution is too great or too small, $50, $100, $1,000 or more. Donate today! Donations to support "Educate a Thousand" are tax-deductible.
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It's the battle of the tech titans. No, not Apple versus Samsung. Sony has gone head-to-head with Microsoft after releasing their next-generation gaming platforms for the holiday shopping season. And according to a recent sales report, Sony's PlayStation4 seems to have won the first round of the battle. (CNN)
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Today in New York City, Instagram unveiled Direct, a new product which cofounder Kevin Systrom calls a "a simple way to send photos and videos to your friends." Until now, Instagram users shared all of their photos with all of their followers; the new feature enables users to share media to just specific friends or groups of friends. (Fast Company)
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You step inside Walmart and your shopping list is transformed into a personalized map, showing you the deals that’ll appeal to you most. You pause in front of a concert poster on the street, pull out your phone, and you’re greeted with an option to buy tickets with a single tap. You go to your local watering hole, have a round of drinks, and just leave, having paid – and tipped! – with Uber-like ease. Welcome to the world of iBeacon. (Wired)
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In this new economy of the personal brand and doing your own thing, everyone is constantly working the room. But it can get confusing as both a single woman and an entrepreneur who works in communications. There are times when I find myself getting drinks or dinner to "talk shop" – but I cannot, for the life of me, figure out: am I on a date? (Harvard Business Review)
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Overall, LinkedIn is the best social media platform for entrepreneurs, business owners, and professionals. Unfortunately, your LinkedIn profile may not be helping you to create those connections. So let’s tune yours up with six simple steps. (Inc.)
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Once again, on Dec. 3, Elizabeth Rosenthal made eyes pop with her front-page article "As Hospital Prices Soar, a Single Stitch Tops $500." The article is part of her series in The New York Times on the high prices of health care in the United States (see, for example, "American Way of Birth, Costliest in the World"). As I noted in an earlier post, there were news reports more than a decade ago on the distress that high prices of health care can visit on Americans with either shallow health insurance or none. (The New York Times)
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Five years after the start of the worst six months for the U.S. labor market since the Great Depression, we learned Friday that 203,000 new jobs were created in November and the unemployment rate dropped to 7%. Discussion in the immediate aftermath of the news centered on whether the report marked more of the ho-hum same or a sign that, after three years of puttering along, the economy might finally be preparing for a return to something approaching prosperity. (Harvard Business Review)
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Charitable-giving season is in full force. It's the time when many charities rely on the generosity of donors to make their budgets for the year and begin to fund their programs for the year ahead. But you don't have to be a millionaire – or even open your checkbook – to be charitable. (The Wall Street Journal)
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As if the emotional toll weren't rough enough, couples who split must then confront harsh financial realities. It’s not just the cost of getting the divorce, but also the often-extreme lifestyle shift that comes when one household cleaves into two. A 2012 General Accountability Office report found that women’s household income fell 41 percent on average; it was more than 20 percent for men. (Bloomberg)
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Mary Barra, 51, is the first woman to run GM, and the first woman to run any major automaker. Even more remarkable to employees and close watchers of the company is her pedigree: engineer by trade, GM lifer by birth. She began 33 years ago as an intern, and her first job out of school was as a plant engineer at the assembly factory in Pontiac, Mich.; her father spent 39 years at the same division making dies. She’s an affirmation of everything GM has done right, but also a company woman from the troubled years. (Bloomberg/Businessweek)
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At a time of year when many workers anticipate a Christmas bonus check or a holiday ham, some companies say one of the best ways to reward outstanding performance and inspire employee loyalty is a chance to shop 'til they drop. (The Wall Street Journal)
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In all the sound and fury over the minimum wage, and the current boom in low-paying, dead-end jobs, nobody is questioning a crucial assumption: More investment in labor would have to come out of consumers' and shareholders' pockets. Make that almost nobody. Zeynep Ton, who teaches business operations at MIT's Sloan School of Management, spent 10 years traveling the U.S. talking with workers and their supervisors in retail. She scrutinized the day-to-day details of how things get done (or don't) in the trenches. (Fortune)
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A U.S. budget accord is on track to win passage in Congress largely because its most important accomplishment is pushing off automatic spending cuts that neither party likes. The two-year budget deal sidesteps lawmaker protests by not touching entitlement programs that Democrats want to protect or the corporate tax breaks Republicans favor. (Bloomberg)
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On Dec. 14, gun control advocates will mark the one-year anniversary of the Newtown elementary school massacre by gathering at events in 35 states and ringing bells. "Moms won’t be silent anymore," says Shannon Watts. In response to Newtown, Watts started Moms Demand Action for Gun Sense in America, a grassroots organization that has become the most visible new player in the gun debate. "Something changed after Sandy Hook," she says of the grade school where 20 children and six adults were killed in a matter of minutes by a troubled young man armed with a Bushmaster semiautomatic rifle. (Bloomberg/Businessweek)
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Mark Reuss just landed a bigger management role at General Motors Co. – after losing the race for its biggest job. As GM veteran Mary Barra becomes chief executive of the global auto maker next month, Mr. Reuss, head of North American operations, is succeeding her as head of world-wide vehicle development. But because he has a strong track record, Mr. Reuss might jump ship for a CEO spot elsewhere, several leadership experts and recruiters say. (The Wall Street Journal)
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At the outset of the holidays this year – I use that term literally, because our family celebrates both Hanukkah and Christmas – I've been feeling a malaise about giving my husband any gifts at all. Why do we even bother, I've thought? Wouldn't it make more sense for us each to go out and get ourselves what we want? (The Wall Street Journal)
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Sending holiday cards may seem like just one more thing on your to-do list this month. But if you rush through it, you’re missing a chance to really nurture social ties and build goodwill. "The mortal sin of holiday cards is to just sign your name," says Samara O’Shea, author of For the Love of Letters and a former professional letter writer. People take this approach because "they feel obligated to send Christmas cards, and this is the easy way to do it." (Fast Company)
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