john hamilton mckinsey recalls telling edgar the standard stores, robinson crusoe. poe would tell the stories. he would embellish them and he kept adding and adding to the stories and creating new stories they hadn't heard before. eventually poe got an interest in poetry, and by the age of 13 he compiled enough of his poetry that he wanted his foster father jove and get it published. the foster father showed it to his headmaster and he said he's a little too proud of himself onward. the last thing you want to do is fueled his ego by publishing parts of his poetry. but by the time he was 18 he actually published his first book. i thought of what's in that book was written while he was in richmond, 10 university of virginia in charles hill. early on poe probably thought that he would be like most writers of the day, and live off of family money or a teaching job or a government job in the customs house. but he became the first american writer, major american writer to make his living sold off his writings are i don't think it was entirely by choice. he would have love

jonathan woetzel is director of the mckinsey global institute and instrumental in building mckinsey‘sctice since 1985. and nina yang is ascendas—singbridge's ceo for sustainable urban development with more than 25 years of urban planning and building development. thank you all forjoining us for this discussion on the one belt one road initiative. to begin with, it is a massive project, as we havejust been talking about. jonathan, if you look at historically where many asian companies have been able to get their financing, asian countries for infrastructure projects, it has been the multilateral western institutions that have done this. with one belt one road, it will be chinese dominated, the chinese lead plan, or a multilateral institution that will end up funding a lot of these projects. well, actually, i think most of the funding will be by national finance so sovereign funds of the country, but, yes, there will be some investments that come from china or through the multilaterals like the new development bank or funds that have been set up. i think that it is less important, actua

mckinsey is a world-renown consultant in this area, highly respected with a lot of mit guys. i don't think it's a bad idea. i do think that getting rid of the department of aging is a mistake. i don't say that because my wife was the secretary of aging. >> full disclosure. >> we have the second-largest elderly population in the country outside of florida, so there's a lot of people impacted. >> that's why governor casey created that department. and those issues are separate and distinct from the kind of issues that dpw normally handles. so, i think that's a mistake. >> well, i think the prison thing might be a mistake. i don't know the innards of it, but it's surprising to me that, suddenly, we don't need all these prisons. and the line out there is we were building prisons just to build them. it was a broke industry. >> left and right. >> left and right. i don't know about that. i'm not sure of who gets sent to these prisons. >> and now you're creating overcrowding perhaps in other places. i don't know, but maybe. >> that's what we hear all the time. judges say it's overcrow

the analysis by research firm avalere health and the consulting firm mckinsey and company says the plan would: today, a white house spokeswoman said one goal is for no one to lose coverage. >> we have to make big changes. i think both republicans and democrats agree with that. this is a program that was shoved through with so many problem, and we're still every day finding out new problems to this program. we know that we can't just repeal it and not do anything else. we have to repeal it and presentatives, nancy pelosi, says she's skeptical the trump plan will improve access or benefits. >> what they have put forth and outlined will cost more to consumers, it will cover fewer people, it will give tax breaks to the wealthiest people. >> sreenivasan: today, republican governor scott walker said block grants can adequately cover people in poverty, as he did in wisconsin. >> we have under our plan, we have one of the lowest rates of forms to get people into theed marketplace and to make things work there. i think that's exactly what we want as a nation. >> sreenivasan: the democratic gover

mckinsey is saying, "you can squeeze more money out of the state stores, if they negotiate better andun better." that's $53 million. do you buy it? >> no. [ laughter ] uh, look. oddly, yeah, you can create an enormous amount of efficiencies in any government, and particularly state government. when you're talking about if you take state and federal sources, you're up to, what, $60 billion, $70 billion. of course you can. but the problem is you deal with the bureaucracy. >> but other states are doing it -- alabama. >> yeah, but in the case of the state stores, they have a liquor system that's, in a sense, independent. the governor can't say, "we're doing 'a', 'b', and 'c'." it's not the way the boards and commissions of state government work. >> that stunning cost, $1.8 million -- there's an inefficiency right there. >> we got to wrap up. but really quickly, a yes or no. should we be charging small towns in pennsylvania $25 a head... >> no. >> ...for state troopers to be their police force? >> yes. yes. >> there's a long story. can't tell it. yes. >> you say no. you say yes. >> we're p

according to mckinsey, about work tasks globally could be automated with currently demonstrated technology only 5% of jobs can be fully automated. according to an mit professor, the economy now needs to adapt. >> what we need to be looking now is more fundamental restructuring of the economy. as robots and other technologies big online, there are some tectonic changes in a kind of skills that are needed in the labor force, the types of organizations, the types of regulations are technology is a tool that can be used to create more job losses and many companies are doing that. it can be used to create new jobs. the way we respond is going to make all the difference. >> our manufacturing, worker population is aging. by giving them tools, it lets them stay longer in their jobs. maybe it also attracts younger workers because the jobs become less repetitive, a a little more cognitive, a little more interesting. a revolving door update. as the fallout of an accounting scandal continues at b.t. group. theu.k.-based telecom giant continental europe chief has resigned after spending more than a dec

the mckinsey report points out the role of women in technology. 37% are stuck at entry level jobs.ot of technology, maybe not a lot of women in technology stuck in those jobs. i wonder, what is your in the goal question mark how do you expect to get there? : i think what you're referencing is the board list, which is designed to get more women on board's overall. our endgame is, as you describe, women's participation in the telecom the is lagging -- cory: what economy? : the towns economy. it's not just an innovation economy. it's a talent economy. at all levels.g the board is focused on women in the boardroom, because the staff there are as bad at every other level in which the tech industry is dragging. our in goal is to see women with equal representation gender wise in every tech boardroom globally. cory: great stuff, and something that is desperately needed. appreciate that. sukinder, thank you, as well as sarah frier. and the third executive to leave the embattled -- david sacks announced he will be stepping down as ceo of the company, his there less than a year from the tort

some of these other private firms like mckinsey say there is more to it.e to look at the revenue, the taxes you pay, the company has to pay a lot of taxes on oil producers to the government because the government relies on oil income. because the government will still be in control of the company, investors won't have needof a say and say, we more of that, that we ship it over with dividends. to private investors may be less thenng to buy into aramco they would a private company of the same size. ♪ ♪ premature for us -- it is premature for us to talk of what will happen in the next five months, but all i can tell you is that the level of commitment we have received from all opec and not go pick countries, we are going -- and non-opec countries, we are going to go for much higher levels of compliance because of the very talks that we have brought over with us from 2016. >> when will you get to 100% compliance? >> we hope to achieve but hundred percent in due course. -- achieve 100% in due course. david: that was opec secretary barkindo speaking with bloombe

i think it is interesting, i thought a mckinsey report the other day and what it showed his leer at 250% debt to gdp globally. in the wake of 2008, what we saw was roughly $57 trillion increase in debt, which was highly unusual. what the report showed was going back over the last 50 plus years, more than that, went back to 1930, died in the wake of financial crisis or economic slowdown, historically there was a deleveraging that followed. but in the sense that, post-2008, what was seen as a reverse. significant leverage in the wake of financial crisis and therefore we lived in a time like no other and you could see the same numbers at the federal level. our debt to gdp numbers are a gas a post-world war ii post-world war ii high emirate peacetime high. i was looking at numbers the other day and i think this was an interesting chart that again suggests hopeful durable we are and how a crisis could come much sooner than people realize. this is from the fed and it's not worth as a percentage of disposable income, you could also do network as a percentage of gdp. a sickly but it shows over t

what mckinsey found that one of the most important factor was the quality of our teachers. i feel very strongly that we need to remove barriers to quality teaching and enable and equipped to these teachers to do their best work and as someone who has studied this issue extensively, i would just like to get your thoughts on how we might do that. >> thank you senator. i did enjoy our meeting in your office as well talking about some of these issues. i believe first, let me restate again, a quality teacher cannot be, the importance of a quality teacher cannot be overstated and i think that the opportunities abound for empowering and re- empowering teachers in a new way, unleashing them with a lot of rules and regulations today that really prohibit and inhibit creativity and innovation with their students. when you take a step back and look at how we deliver education today, for the most part it hasn't changed significantly in a century and a half. yet, the world has changed significantly and so, i think there is a great opportunity and this goes for teachers of all kinds of sc