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The enemy inside every company
Minimum-wage mania
Was Confucius a communist?
Medical trials—and errors
JULY
25TH
–
31ST 2015
Economist.com
The politics of procreation
Empire of the geeks
and what
could wreck it
Contents
5
The world this week
30
7
8
8
9
10
On the cover
Silicon Valley should be
celebrated. But its insularity
risks a backlash: leader,
page 7. The tech boom may
get bumpy, but it will not end
in a repeat of the dotcom
crash, pages 17-20
The Economist
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The Economist
July 25th 2015
3
Leaders
Inside Silicon Valley
Empire of the geeks
Drug testing
Trials and errors
Barack Obama and Africa
Neglected
Minimum wages
A reckless wager
Demography
Baby love
31
32
32
33
Middle East and Africa
Africa and America
The prodigal grandson
returns
Iran and Saudi Arabia
Proxies and paranoia
Dubai’s bright prospects
The nuclear deal’s other
winner
Driving in Lebanon
Buckle up
Israeli politics
Bibi blue
United States
Wages and 2016
Ways of seeing
The Iran deal
Not déjà vu all over again
The funeral trade
A grave business
The 2016 field
The Kasich conundrum
Civil-war memorials
Too big to veil
Lexington
El Donald
The Americas
Brazilian politics
Power behind the throne
Cuba’s sports defectors
The 90-mile sprint
Venezuela’s currency
Crackers in Caracas
Bello
Leaders who never retire
Asia
Asian security
Battle of the coastguards
South Korea’s singletons
I don’t
Rohingya refugees
Exile island
Politics in Malaysia
Najib soldiers on
Confucius and Communism
The party turns to an ancient
philosopher for support, page 46
Letters
12 On private equity, the
Supreme Court, Nigeria,
Puerto Rico, Greece
Briefing
17 Silicon Valley
To fly, to fall, to fly again
Europe
France’s role in the world
The president’s burden
Cider in Poland
Apples, apples everywhere
A giant bomb in Turkey
Worse to come
Refugees in Greece
A choppy route to freedom
Charlemagne
Tackling migration at last
Britain
Labour’s leadership race
Forward, comrades!
The queen’s Nazi salute
Royally embarrassed
Foreign policy
We’ll be with you in Syria
Bagehot
A peninsula, not an island
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37
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40
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Print edition:
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Audio edition:
available online
to download each Friday
Economist.com/audioedition
How to boost wages
A global
movement towards much
higher minimum wages is
dangerous: leader, page 9. The
presidential candidates’ ideas
for raising pay reveal different
diagnoses of how the economy
has changed over the past 40
years, page 34. Large increases
in the minimum wage could
have severe long-term effects:
Free exchange, page 60
27
28
Volume 416 Number 8948
Published since September 1843
to take part in "a severe contest between
intelligence, which presses forward, and
an unworthy, timid ignorance obstructing
our progress."
Editorial offices in London and also:
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42
44
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45
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29
Making more babies
There are
good and bad ways to prop up
a country’s population: leader,
page 10. People in rich
countries can be coaxed into
having more children. But lazy
husbands and lovely cities
stand in the way, page 48
1
Contents continues overleaf
4
Contents
The Economist
July 25th 2015
China
46 Political philosophy
Confucius says, Xi does
47 The Christian church
Render unto Caesar
International
48 Pro-natalism
Breaking the baby strike
49 Demographic statistics
Lies, damned lies, and
Lysistrata
Business
Cuba and Iran
When the sanctions go
Toshiba’s accounts
A load of tosh
Helicopters
Rotor slayed
Diageo in India
Scotch, not so neat
The geography of drinks
Booze around the world
Schumpeter
Employees: the enemy
within
Finance and economics
The Trans-Pacific
Partnership
Into the home stretch
Trade deals
Bargaining chips
Greek banks
Long march to normality
Small banks in America
Bank free or die
Buttonwood
Bypassing voters
The Volcker rule
Much ado about trading
Free exchange
Minimum wages
62
63
64
64
65
The promise of Pacific trade
For all its flaws, the biggest
trade deal in years is good
news for the world, page 55.
The WTO notches up a success,
page 56
Science and technology
Clinical trials
Spilling the beans
Dementia
A flatter slope
Artificial vision
Seeing triple
Science and justice
Looks could kill
The search for aliens
An optimistic gamble
Books and arts
Why information grows
Multiplier effects
Spain’s golden age
Global power
Economists and Africa
Why they get it wrong
France, a history
Citoyen, citoyenne
How Shiism emerged
Powers of persuasion
”Southpaw”
Raging bullshit
66
67
67
68
69
69
Clinical trials
Failure to
publish the results of all
clinical trials skews medical
science and harms patients,
page 62
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Rogue workers
Employees can
wreak more damage on a
company than competitors
ever could: Schumpeter, page 54
55
72
Economic and financial
indicators
Statistics on 42
economies, plus a closer
look at coffee and cocoa
Obituary
74 Burt Shavitz
Bee businessman
56
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59
Business in Iran and Cuba
With the promise of an end to
sanctions, foreign businesses
eye two new markets. Many
obstacles lie in their path,
page 50
60
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The world this week
Politics
turned to radical Islam after a
trip to Jordan. Muhammad
Abdulazeez, who was killed in
a subsequent shoot-out with
the police, was born in Kuwait
before moving to America and
becoming a citizen. His family
claim he was suffering from
depression.
America’s Equal Employment
Opportunity Commission, a
federal agency charged with
enforcing civil-rights laws in
the workplace, ruled that the
ban on sex discrimination in
the Civil Rights Act now in-
cludes
sexual orientation
and
applies to discrimination
against gays and lesbians.
John Kasich, the governor of
Ohio, became the 16th
Repub-
lican
to enter the presidential
race. Donald Trump continued
to amuse and infuriate the
public, especially when he
implied that John McCain was
not a war hero because he had
been captured. Mr McCain
was shot down in his plane
and tortured in Vietnam. Mr
Trump avoided the draft “be-
cause of the fact that I had a
very high lottery number”.
Amid widespread criticism
across Africa and in the West,
President Pierre Nkurunziza of
Burundi
looked certain to be
elected for a third term, despite
the constitution’s two-term
limit and street protests in the
past three months that have
left scores of people dead.
the Republicans lack the votes
to overturn a presidential veto.
Saudi Arabia launched a big
crackdown on militants, an-
nouncing that it has arrested
431 people it suspects of being
connected to
Islamic State.
The Economist
July 25th 2015
5
Sector and local authorities in
a region of south-western
Ukraine bordering Hungary
and Slovakia.
The
United States
and
Cuba
restored full diplomatic links
after a 54-year interruption.
Relations have been improv-
ing since Barack Obama an-
nounced in December that the
United States would ease its
embargo on trade with the
island. Raúl Castro, Cuba’s
president, followed up by
freeing some political prison-
ers. Marco Rubio, a Republican
senator from Florida who is
running for president, has
threatened to block the Sen-
ate’s confirmation of an Amer-
ican ambassador to Cuba
because of a lack of progress
on the island.
Prosecutors opened an in-
vestigation into allegations
that
Brazil’s
former president,
Luiz Inácio Lula da Silva, im-
properly lobbied foreign lead-
ers, including Cuba’s, to award
contracts to Odebrecht, a
construction company.
Eduardo Cunha, the Speaker
of Brazil’s Congress and a
member of the centrist
PMDB
party, which is in the coalition
government led by the presi-
dent,
Dilma Rousseff,
said he
will switch to the opposition.
He was angered by allegations,
which he denies, that he had
asked for a $5m bribe to pro-
mote legislation favouring
suppliers to Petrobras, a state-
controlled oil company. Mr
Cunha says Ms Rousseff’s
party is encouraging a witch-
hunt against him.
It’s never too late
Mitsubishi Materials, an affili-
ate of the Mitsubishi group,
became the first
Japanese
firm
formally to say sorry for treat-
ing American prisoners as
forced labour during the sec-
ond world war. On August
15th, the 70th anniversary of
Japan’s surrender, Shinzo Abe,
the prime minister, is expected
to make a statement that
addresses lingering resent-
ments over the war.
Mistaking them for Taliban,
American helicopters opened
fire on Afghan soldiers in an
outpost in Logar province,
eastern
Afghanistan,
killing
seven. The Taliban then at-
tempted to assault the outpost.
Morale is already low among
soldiers fighting the insurgen-
cy, with desertion rife.
Forging a relationship
After talks in Washington with
Nigeria’s
new president,
Muhammadu Buhari, Barack
Obama set off on his fourth
trip to sub-Saharan Africa
since he became president. He
will visit
Kenya,
the homeland
of his father, and
Ethiopia.
Meanwhile, Mr Buhari said he
would be prepared to negoti-
ate with the leaders of
Boko
Haram,
the jihadist group that
has terrorised north-eastern
Nigeria, for the release of
200-plus schoolgirls who were
kidnapped from the town of
Chibok in April last year.
America’s defence secretary,
Ashton Carter, headed to
Saudi Arabia in an effort to
reassure King Salman and his
government that the recent
deal with
Iran
on its nuclear
programme will not leave the
kingdom vulnerable to its Shia
rival as sanctions end. In
Washington the Speaker of the
House of Representatives
vowed to kill the deal, though
Deadly incursion
At least 32 young aid volun-
teers in
Turkey
were killed by
a suicide-bomb in the town of
Suruc near the border with
Syria, which was blamed on
Islamic State. In the adjacent
part of Syria
IS
and Kurdish
forces have been battling for
control of several strategic
towns. The bomb triggered
protests against President
Recep Tayyip Erdogan, who is
accused of being faint-hearted
in the fight against
IS.
Kurdish
militants killed two Turkish
policemen in revenge.
Alexis Tsipras, the
Greek
prime minister, faced fresh
objections from the left wing
of Syriza, the radical party he
leads, as he drew on opposi-
tion support to push a set of
harsh reforms through parlia-
ment to help secure a new
bail-out package. The coun-
try’s banks reopened after
being shut for three weeks.
Thousands of supporters of a
right-wing nationalist group,
Right Sector, demonstrated
against the government in
Kiev, the capital of
Ukraine.
Earlier this month there were
armed clashes between Right
In
China
Ai Weiwei, perhaps
the country’s best-known
artist, who was detained in
2011 and has been barred from
travelling since, was given his
passport back. A show of his
work at London’s Royal Acad-
emy opens in September, and
he now hopes to visit it.
About 180,000 soldiers in the
paramilitary branch of China’s
People’s Liberation Army
tried out new footwear to
replace the ubiquitous green
canvas “liberation shoe” that
has been in service since the
1950s. Though the plimsolls
had “passed the test of revolu-
tionary years”, one soldier said
that his dorm no longer
honked of smelly feet. China’s
defence budget is growing by
10% a year, though other secret
weapons remain off-budget.
1
Aiming for the heartland
Investigators suggested that a
gunman who shot dead five
members of the armed forces
at a naval facility in Chattanoo-
ga,
Tennessee,
may have

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