the emerging sharing economy is democratizing wealth and decision making in new networking modes of production, consumption, and governance. the sharing economy is driven by economic, environmental, and social crisis, also new technologies come a new culture of sharing, and a new generation, the first one raised on the net where schering is part of their value system -- where sharing is part of their value system. there is car sharing, open source software. co-working and the collaborative consumption companies with us today. many of the legacy institutions have lost their capacity to serve in some cases. or they have lost their credibility. all of these types of innovations, these share rubble innovations -- shareable innovations are on the rise. they are not centrally- controlled, one-size-fits-all solutions. instead, the increase access to resources locally and globally through market driven and volunteer-based platforms that unleashed the creativity of citizens to create an exchange value directly with each other. it is very adaptable to local conditions. with this economic shift, there is

economy. what i was after was a new way

interesting happening across the atlantic austerity ravaged europe is a breeding ground for new experimental mini economies in spain where a recession is expected to get even worse after the government passed eighty billion dollars worth of new austerity measures new economies local micro economies are springing up all around the country that are not dependent on the crippled euro the economies are based on barter and exchange for example time banks are popping up around spain that allow workers to trade in their services in hours and receive other services from others in return labor and services of us exchange through hours and not through currencies tens of thousands of citizens are participating in more than three hundred twenty five i am banks all around spain right now making it one of the largest modern economic experiments in recent history similar type of banks can be found in greece and portugal too as alternatives to the corporate free market austerity and the austerity recovery being pushed by bankers and technocrats as the washington post describes these new economies these experiments aim to

i would like to clarify -- this is not us versus them, new economy versus old economy. there is room for both of us. these are complete the experiences that someone would have in the old economy. the trick is figuring out what is different about this, making sure laws and regulations and policies apply reasonably to this new economy, and make sure that there is room carved out for both. >> thanks for making that point. one more question? >> [inaudible] i'm curious if this conversation about companies devoted to schering physical space. the idea of using or facilitating, seven commercial space for nonprofits and that sort of thing. [inaudible] are there any modalities for sharing their? >> the question is there's a lot of vacant commercial space that could be mobilized for civil society, so is there a way to do that? >> i know of one company, loose cubes. i'm sure there's others that many of you know there. >> i see mark in the audience there. do you want to explain what liquid space does? i think it answers the question, actually. >> [inaudible] [laughter] >> mark reall

we have to think of san francisco 30 years from now and try to prepare ourselves for the new economies. i do think biotech will be a key piece. information technology, can we be the hub of that? we have to address our payroll tax, land use decisions. we have to put in place a conducive atmosphere to attracting those economies. when we do that, it helps with our basic budget. it helps develop jobs. there is a lot we can do to catch the new economy. >> is there anything the city needs to do in changing its current approach to economic development to facilitate these ideas? >> the payroll tax. we are taxing employers on how many jobs they create. that seems counterproductive. we want to encourage people to create jobs. i do not think asking employers to pay a tax on how many they create makes sense. i think addressing that would be a wise move. >> talk about sports. are you happy with the america's cup? do we need to be spending money on the 49 years? >> the america's cup will be fantastic. i was thrilled to support that. and was very involved in bringing the presidents cup. that is the t

i counted 20 share economy places in my neighborhood. there are new companies launched every week. this is just a small sample, some the leaders in san francisco. jay, give us some background on the sharing economy working group and how you think it benefits san francisco, including underserved communities. >> it is historic we are being thoughtful, looking forward in shaping the policies. mayor lee and board president david chiu and the supervisors announced the sharing economy working group. the idea is to look at the issues at play as well as understand the benefits of the sharing economy, whether environmental or economic. you can see with the companies that there is tremendous dahlia to society. it is getting ahead of the curve so that we're not applying outdated rules to a new approach. earlier legislation did not imagine some of these companies. who would have thought there would be peer to peer car sharing. it is transformative. we have a role to play from a city hall perspective to nurture and understand the space better to resolve some of the tensions. >> cars sharing is i

we are a determined city, a city in transition from the old to the new economy. a city and region that has a megapark that will house thousands of jobs. a city and region with wonderful people, great families, great work ethic, and people who are successful, who are vigor for a successful future. we invite businesses all over the world to come take a look at us. we believe you will like it here. when you come, please bring your jobs with you. [cheers and applause] i am very proud to present to you a very dear friend, a hard- working former congressman, one who knows our city and our region well. one who helped us with several major development projects, most notably our roberson bridge, which is now open. this project alone at, our friend,to danville $28 million. ladies and gentlemen, former congressman tom perriello. >> good morning, danville. it's great to be here with one of danville's greatest products, are mayor. -- our mayor. he served our country in uniform and now serves but community and so many ways. he tried to stop violence in our community andi was p

welcome to the new american economy were good jobs are as hard to find as mitt romney's tax returns a new report by the center for economic and policy research finds that our economy has lost one third of its ability to create what are defined as good jobs a good job is one that pays at least thirty seven thousand thirty seven thousand dollars and offers health insurance and a retirement plan and the data shows that since one nine hundred seventy nine american workers of all education levels have lost these good jobs that includes workers with less than a high school degree and workers with more than a college degree no one is being spared in the new american economy. so why is this happening while the report concludes quote the real culprit is the systematic decline in the bargaining power of workers reflected in a drop in the minimum wage a collapse in the unionization rate in the private sector the deregulation of previously well paying industries the privatization of state and local government jobs a series of business bias trade deals a dysfunctional immigration system poor enfor

we are especially honored to have with us two prominent leaders of the partnership for the new american economy. mayor michael bloomberg and news corp. chairman michael -- rupert murdoch. they are joining us tonight as the partnership releases a new report on the increasingly important role of immigrants in starting new businesses of all sizes and in all sectors, the copies of which will be made available hopefully as you leave here this evening. mayor bloomberg, after an enormously successful business career, has gone on to an enormously successful career in public service. we new englanders claim him as one of our own. the gift to the big apple. and as one of mr. murdoch's headline writers might say, "local boy makes good." mr. murdoch, as you all know, took the newspaper business from down under and over the competition -- up and over the competition to make news corp. a truly global business. for him, the headline might be, "media mogul routes rivals." his international perspective on the intersection of business and immigration will be fascinating to hear. to moderate the discussion, we ar

in this new economy off. in singapore, the first language is english. the schools are taught in english, that is the case in most of the world and business is conducted in english. singapore is a very good friend to the u.s.. oftentimes, when i mention where i am serving to americans back home, it seems like this exotic far away place and i suppose that is true but it is a place that since its very beginnings, its founding as an independent country has been a close strong friend of the u.s.. >> what are the mutual interests between two countries and the mutual concerns? >> well, i guess to start with, when we say mutual interest, i have to say that the relationship between the u.s. and singapore is truly multifaceted but it is a very foundation of the relationship which is our interest and security. in peace around the world and especially peace and stability in southeast asia. that has different parts to it including freedom of navigation. these are very important global commons for international trade and movement of cargo from the u.s. to the u.s., i

>> we know that we need to keep pressing forward and continue to fight for new jobs and getting this economy turned around. what we do also know is that we have had 27 straight months of jobs growth. this month, friday's job report, 132,000 new jobs were created. we have had a surge in the growth of the manufacturing sector. more than 500,000 jobs created in manufacturing. that's the first time that we have seen job growth in manufacturing since the 1990s. we're moving in the right direction and the president has imposed the america's job act. it would be great if my colleagues would care more about getting the economy turned around and working with this president to pass that plan and create millions jobs that would be created. >> congress has gone home. but that's not going to happen this year. >> well, we shouldn't have gone home before passing the america's jobs act. they care more about defeating this president more than working with him to pass a balance plan. the ball is in their court. >> he doesn't want any more intervention from the federal reserve between now and election day, do

kids, but also for returning veterans and people that want to change mid career and get into the new economy. everything is tied-oriented, whether it is working at a restaurant or hotel. i was at a manufacturing plant last week. they have technology that was put on the cutting machines, just so there is a precise cut. there were doing it on an h-p had. -- pad. that is a cutting machine in a blue-collar setting. the have to be able to read that stuff and input it. that resulted in some of these neat ipad covers. the have to have precise cuts, because they are using sustainable material like bamboo. it has to be precise. they are doing 90,000 of this this year, to give you an example. it all goes to show that when federal policies get right down to the neighborhoods, and that you have not only a mayor, but a school district and community partners that are taking this to heart, that we can do this. we can offer not only temporary jobs. we can build a lifetime -- a lifeline, changing lives for years to come. it really does work, this policy, and the kind of investment that is coming out of the a

actually very harmful to the new york economy and a bad signal to banks. so it's also tough to say whether the penalty fits the crime because the new york complaint did not detail exactly how much they alleged standard made off of these transactions. it was an unspecified amount in millions. they never said. but at least for standard and the rest of foreign banks operating in new york, revocation did not come to pass. that's a good thing. >> susie: well you mentioned treasury, the federal reserve. do you think that more information's going to come out. and do you think that they will add on to any other penalties or fines or something like that. >> i think they probably have to just as a political act. it's tough to have an investigation into the entity and not come up with some additional penalties, whether it's monetary or additional compliance procedures. i'm sure the fed will try and beef up and add on to the compliance portion of the new york settlement today. we'll probably see some extra monetary damages as well. >> susie: you know this whole centere

all of that money circulates in the new economy and it makes us all grow. here is the bottom line, ohio. if you believe mr. bromley's plan and his congressional allies -- if you genuinely believed that plan will make you better off, if you believe it is ok to set our sights lower and settle for something less, by all means, send these folks back to washington for the next few years. but wouldn't we all be better off if we kept fighting for the things that have always made us strong, if we fought to make higher education more affordable so that more young people can go to college. would we be better off if we invested to develop new sources of american in? if we kept investing in manufacturing so that we could sell goods around the world stamped with the words made in ohio, made in the united states of america. [applause] in five years or 10 years or 20 years, wouldn't we be better off if we got the courage to keep moving forward? to keep working our way that? that is what i believe. that is why i am running for president. my hair may be more grave than in w

but our new economy must never forget the old, unfinished struggle for human dignity. and here we face a challenge to the very heart and founding premise of our nation. a couple of years ago, i visited a juvenile jail in marlin, texas and talked with a group of young inmates. they were angry, weary kids. all had committed grown-up crimes. yet, when i looked in their eyes, i realized some of them were still little boys. toward the end of the conversation, one young man, about 15 years old, raised his hand and asked a haunting question. what do you think of me? he seemed to be asking like many americans who struggle, is there hope for me. do i have a chance. and frankly, to you, a white -- do you, a white manna suit, really care what happens to me. a small voice, but it speaks for so many. single moments, struggling to feed the kids, and pay the rent. immigrants starting a hard life in a new world. children without fathers in neighborhoods where gangs seem like friendship or drugs promise peace. and where sex sadly seems the closest thing to belonging. we are their count

still stuck with today rather than an economy serving the needs of society reagan in this new breed of supply side he can't economists and free marketeers believe that society you and me exists to serve the needs of the economy or more specifically the society serves the needs of the leaders within the economy corporations and their c.e.o.'s or as they called it in fact so called news chopper creators which brought us the greed is good mentality the one nine hundred eighty s. when c.e.o.'s were encouraged to cut salaries of their workers bust up unions pollute the skies and gamble on wall street to maximize well the holy grail then came laws to cement this new definition of economy massive tax cuts for the so called job creators deregulation of wall street's banks toure's and the so-called free trade agreements so that national corporations could have band in america and morph into trans national behemoths that new business model and this entirely new definition of the purpose of an economy is still with us today. and is one in which profit and making money is the ultimate goal and to

will ben bernanke unveil a new plan on friday to stimulate the economy? the fed chairman might have second thoughts about doing anything given news today that the economy grew faster than previously thought. the g.d.p. rose at an annual rate of 1.7% in the second quarter, up from the 1.5% originally reported. also today, the federal reserve's beige book report showed all of the central bank's 12 districts expanded gradually in july and august, thanks to a pick up in housing, and retail sales. still, the economy is not where it should be, and that has many stock investors on edge. suzanne pratt reports. >> reporter: the last week of august is one of the quietest of the year here at the new york stock exchange. a quick look at the paltry trading volume tells that story. but, look out for friday. that's when federal reserve chairman ben bernanke gives a speech in jackson hole, wyoming to economists and central bankers. investors are hoping he'll indicate he's ready to do a new round of bond purchases, designed to keep interest rates low and encourage more bor

companies as they go into new economies in the emerging areas. for example, louis vuitton you have a trade up to a premium luxury brand. they're well-known for leather goods and handbags and also in the wine and spirits area with things like dom and shan done. nicole: louis vuitton bags and dom perignon, sounds terrible. there are particular sectors you like? >> the benchmarks we think are extremely inefficient. they are heavily weighted toward finance ools. nicole: such as. >> base materials an energy. we tend to find opportunities in areas more traditional conventional growth areas like health care, technology and consumer. nicole: do you think the fed will do anything? bring you back home to the states. i know you're from la goon ma beach, california, hence the tan. will the fed do anything. >> we're suffering in laguna beach all summer. we haven't heard anything from the fed before. nicole: we'll compare tans. duff thanks for coming in. lori: i definitely lose in the tanning game. ashley webster with much more from the republican national con

we are especially honored to have with us two prominent leaders of the partnership for the new american economy. mayor michael bloomberg and news corp. chairman michael -- rupert murdoch. they are joining us tonight as the partnership releases a new report on the increasingly important role of immigrants in starting new businesses of all sizes and in all sectors, the copies of which will be made available hopefully as you leave here this evening. mayor bloomberg, after an enormously successful business career, has gone on to an enormously successful career in public service. we new englanders claim him as one of our own. the gift to the big apple. and as one of mr. murdoch's headline writers might say, "local boy makes good." mr. murdoch, as you all know, took the newspaper business from down under and over the competition -- up and over the competition to make news corp. a truly global business. for him, the headline might be, "media mogul routes rivals." his international perspective on the intersection of business and immigration will be fascinating to hear. to moderate the discussion, we ar

. >> and there is a jobs report out with mixed news for the economy. both candidates trying to seize on it. jobless rate increased to 8.3%. the economy added another 163,000 jobs. it's the 29th month of growth and higher than expected. wall street likes the news. the dow surged 217 points after four days of losses s and p and nasdaq were also up, too. and there is more on what it means for wallets and politic autos the presidential contenders took a fresh economic data and put two different spins on it. the government announced u.s. employers added 163,000 jobs in july. >> 163,000 is a good number. and it's not a great number. >> this is a tempered by the rate going up to 8.3%. today, the candidates seized on numbers. and the presidentage is that the economy is adding job autos we've created 4.5 million new jobs over 29 months. those are neighbors and family members finding work. >> but for mitt romney it's not enough. >> these numbers are real people. and really suffering and having hard times. >> the president is citing a study about romney's economi

business and danielle bushel is full of the latest news for us there danielle over to you harbor in the women's income why the more than china and india's economies can one finds a new report or two thoughts in a public over as the story. was of business in the moscow business center but just a couple of decades ago you wouldn't have seen so many women these ladies have probably just praising all this talk muppets but then back to the story that maybe overlooking is the ladies themselves ernst and young says women represent the biggest developing market globally and could save the ailing world economy this emerging market is not part of the brics mammas will come from there at the moment more than a quarter of women in developing countries a cop pulled from the economy they count almost a billion and once they get involved the practice of these new workers will be greater. then that demographic explosion in the past century parents and younger expect that in the next five years women will grow by five trillion dollars to eighteen trillion dollars globally which will double the do to be growth of india and china together investor advisors say this

how do you overcome the new economy and the problems and hurdles that poses to increase union membershipshe way work has been organized really since the late 1970s has been to push all the risk that used to be shouldered by corporations and by government on to individual workers. the outsourcing and freelancing and gig economy that has resulted on that has put a lot of pressure on individual workers. many of them are very isolate. there are moments. we asked scholars to look at moments either in contemporary life or in the past where workers overcame those obstacles and forged some alliances. for instance, in the new york city area, freelancers union is organizing. it is probably one of the most--the largeest worker organizations in new york city although it's not quite recognized as an union. it really is a cooperative at this point. it's bringing workers together and educating them politically and getting them motivated to vote politically. it's also getting them educated on retirement benefits, you know, health benefits and those kinds of things. >> eliot: but as you point out in the b

the economy added 163,000 new jobs in july. yet the jobless rate picked up from 8.2% to 8.3%. ver the economy continues to run in place. but why and what if anything is being done about it? david has a new book out "red ink." so perhaps, david you have the answers. >> i have all the answers. well, it is confusing -- the government has a survey of employers and that survey found that employees added 163 jobs in july which is twice as many as the previous three months. so that was without a doubt good news. it was nice to have good news on the economy. they do a survey on households an fewer people said they had jobs so that's why the unemployment rate went up. the first number is a better signal of where the economy is compared to last month but the unemployment rate is so high that it just -- think of it this way, there are 12.8 million people out of work. they're still looking for work. that's as many people that live in the state of pennsylvania which is our sixth largest state. there's no way the economy is healthy. gwen: what's that about? have this prospect of tax increase

economy is in the spotlight on capitol hill. let's go to ellen braitman for more at bloomberg headquarters in new york. >> good morning. obama scheduled to put out the final rule on lawmakers o 54.5g fuel economy t by 2025.allon ,hat's already being criticized favors companies that received government bailouts. a report says new federal fuel economy standards factor behind putting thousands of americans to work. campaigning from iowa, he was also talking about food. announced $170 million in t purchases to help farmers and ranchers hurt drought and directed the speed upepartment to purchases. says in helps farmers and that going to get ais better price on it now than if it were brought later. the blockbuster movie the " was box office gold. retailers hoping to take a piece the pie. that story in the next hour. now, that is business news from bloomberg headquarters in new york. ellen braitman reporting. is 73 degrees on this tuesday. >> we are learning more about the gunman behind a deadly ofmpusg near the texas a&m university. ofmpusg near the texas a&m university. ofmpusg near the texayou're on timeout leo! some things

moscow and moscow's just slipped into the red on the back of all the emerging markets all news china's economy is faltering spain and italy e.u. top performers monday as brussels malls buying more forms of there are a bunch of bombs that sent the euro higher after a turbulent morning in the greenback snow sliding to post you wrote and india wants to join russia's voice six crumble delis in talks to join america's italy's any norway's start so to top the vast oil reserves hidden under the ice the agreement says india will pay a premium for oil it finds there well russia's was enough to get cash for expensive drilling under the permafrost saudi arabia's overtaken russia as the world's top producer needs to find new deposits force to regain top spot. more for you next absolutely daniel thanks a lot for this and coming up shortly on our team at discussion on the car a virtual settlement construction on palestinian land constantly being pursued by the israeli government well that's artie's interview right after the headlines. wealthy british style is on its own that's not on the title of. the. mark