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19 November 2014
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Issue 55
November 2014
Dema-who?
A demagogue, according to the Merriam-Webster dictionary, is a leader who uses popular prejudices and
false claims and promises in order to gain power1. The word itself is an amalgam of the Greek words
demos and ago (demos meaning people and ago meaning to manipulate, hence people
manipulator) and is a word that should have particular resonance in Europe, especially in places still
scarred by the ames of the Second World War when rampant anti-Semitism, nationalism and
expansionism, fanned and led by demagogues and populists, culminated in one of historys most
infamous acts of ethnic cleansing.
The word demagogue should be a warning to voters. It should cause them to scrutinise the claims and
promises made and it should tell them that this particular politician is treading on dangerous ground.
The key word here is should.
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and while most target immigrants, there is no standard set of immigrants that they target. Immigrant is
not a real social group. It is a mishmash of various nationalities and cultures and is simply dened as being
non-native which would be dierent for each country (African asylum seekers for the Nordic countries
and Eastern Europeans for the UK and France). Besides, most of the more moderate populist parties
would hesitate before allying with the likes of the Golden Dawn and Jobbik.
Another dierence would be that the parties do not have any expansionist tendencies. Indeed, most of the
parties advocate a much more insular path for their respective countries and have no desire to repeat the
follies of the Second World War. Much of their political rhetoric is directed at domestic targets and not at
those outside the country, and most of the issues raised are also domestic in nature.
Indeed, even the tsunami of demagogy is sometimes an exaggeration of the situation. If one were to look
back at the graphs above, one would notice that most of the parties in question poll considerably lower in
national elections as compared to the European Parliament elections. As the Washington Post noted, the
European Parliament election results were magnied by the low turnout for a low-stakes campaign. This
made it far more benecial for extremist parties who are able to instil more fervour in their followers.
As such, fears of a return to the Third Reich are misplaced at best. The fact remains that there are
numerous key dierences and mitigating factors that almost ensure that there will be no coherent
coalition of demagogues in the near future.
So Everything is Peachy?
No. The rise of demagogues and populists in the political fringe is still able to exert electoral pressure on
the incumbents as evidenced by the hardening of policy by the current government of the UK, as well as
Geert Wilders brief role as kingmaker in the Netherlands. This eect is multiplied by the fragile coalition
politics practiced by most European countries which makes it easier for minority partners in governing
coalitions to dictate terms even if they received a small fraction of the national vote.
The rise of demagogues and populists in European politics has also corresponded to an increase in the
incidence of anti-Semitism, Islamophobia, racism and hate crime in general and it does not take much to
see that it is part of a vicious cycle that will only get worse if the cycle is not broken. Fiery rhetoric against
minority groups by populist demagogues cast the blame for a countrys misfortune on a minority group.
That in turn leads to hate crimes and the isolation of the group in question which in turn increases
misunderstanding and thus the possibility of further are ups. The fact that many minority groups in
European cities already live in racial ghettos only serves to increase isolation and thus compound the
problem.
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References
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20.
PAUL AMES, Associated Press Writer. "For Europe, a warning on rising racism." AP Worldstream. Press Association, Inc. 2004. Retrieved
October 20, 2014 from HighBeam Research: http://www.highbeam.com/ doc/1P1-98960631.html
21. "Le Ghetto; Paris's Suburbs Are Ablaze.but France's Ruling Elite Still Don't Comprehend the Racial Tinderbox They've Created." Daily Mail
(London). McClatchy-Tribune Information Services. 2005. Retrieved October 20, 2014 from HighBeam Research:
http://www.highbeam.com/doc/1G1-138372834.html
22. "Scotland's Cities Could Soon Be Migrant Ghettos Say Police Chiefs; INFLUX: Eastern European Gipsies Have Flooded into Scotland
Recently." The Mail on Sunday (London, England). Solo Syndication Limited. 2008. Retrieved October 20, 2014 from HighBeam
Research: http://www.highbeam.com/doc/1G1-176966494.html
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Return Policies: Indian consumers demand the return process to be smooth and hassle free. This has
compelled retailers to take full responsibility of returns so as to develop trust and confidence among
consumers, which leads to subsequent purchases and positive word-of-mouth publicity.
Free and Quick Home Delivery: is offered by retailers within a pledged timeline. This model might be
unsustainable in the long haul, but it definitely has to be made available by retailers currently to be able to
compete in the market.
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As we can see, the most critical aspects of distinction among providers today are almost negligible, with
examples including no delivery fees, doorstep delivery, traceability solutions and convenient reverse
logistics. E-commerce retailers are well aware of these challenges and the impending need for investment
of capital and operational assets to meet them. These factors will compel retailers to bolster their existing
logistics infrastructure to meet market requirements.
In the coming years, infrastructure will demand a large proportion of investment in e-commerce. An
estimated addition of 7.5 to 15 million sq ft in fulfillment centers alone can be expected in the next three to
four years (6 to 12% of total warehousing space in India). The total spend on warehouse and additional
sortation centers is estimated to be as high as 3 to 6% of top-line revenues. As for employment, an
estimated 25,000 people make a living in e-retailing warehousing and logistics. After considering
efficiency improvements in individual performance and productivity (IPPs) in the delivery networks, an
additional increase in employment of close to 75,000 people is expected by 2017-2020. This represents an
increase in employment by almost three times.
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Upcoming Trends:
The evolution of logistics in the country shall determine the future course of the e-retailing industry
In spite of tremendous potential, major e-retailers have yet to report profits thanks to wafer-thin
margins and high delivery costs
FDI in inventory-led retail may be a game changer by allowing global giants like Alibaba and
Rakuten to make an entry. Amazon has recently announced a 2 billion USD investment operating
on a marketplace model. Allowing FDI could be an imperative factor in attracting significant
investments, resulting in better infrastructure and a more robust supply chain
The e-commerce industry in India is poised for a dramatic period of exponential growth in the next three to
five years. This growth is expected to draw generous investments in both supporting infrastructure as well
as innovative and game changing business models.
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References
1. PWC Publications (2014) Evolution of e-commerce in India - Creating the bricks behind the clicks.
Retrieved from: http://www.pwc.in/assets/pdfs/publications/2014/evolution-of-e-commerce-in-india.pdf
2. EY (2013) Re-birth of e-Commerce in India. Retrieved from:
http://www.ey.com/IN/en/Industries/Technology/Re-birth-of-e-Commerce-in-India
3. Business Monitor Online (2014) BMI Industry View India Q4 2014. Retrieved from: https://bmobusinessmonitor.com.libproxy.smu.edu.sg/sar/reports/view?productid=2363&issue=20141001&iso=IN
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32.0%
Percentage
30.0%
28.0%
26.0%
24.0%
22.0%
20.0%
1975
1995
Year
13
2012
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While the American population is getting more sophisticated and knowledgeable, there are several
repercussions on the value of a college degree stemming from this increase as well. When more people
have a degree, it loses its prestige as a tool which can be used by employees to show their ability to their
potential employers. The degree certificate becomes a basic requirement rather than an edge over others,
and employers look to other means when making hiring decisions.
Research has shown that employers are placing more focus on the college from which the degree
originates (Ruiz, 2011), as there is a general sentiment that many colleges place more emphasis on scoring
highly in institutional rankings rather than training students and equipping them with skills needed in the
workplace. For example, there has been a lack of ethics education for college students, especially in
professional degrees and this has been cited as a one of the reasons for an increase in white-collar crimes
in the US (Staton, 2014). Based on the Manpower Outlook Survey, some employers even thought of
college degrees to be misleading as the college graduates lacked the skills but still demanded high salaries
since they were holding a degree (Manpower Group, 2013).
Moreover, employers are also looking beyond the college degree as they feel that the degree is
insufficient. Some employers are looking into grades from external specialized tests such as the
Bloomberg Aptitude Test, while others are looking for further higher education attainments such as
Masters degrees.
All these factors lead on to the question of whether a college degree is still worth the pursuit. The
opportunity cost is high, as not only do these graduates start work later than their peers who do not go to
college, they have to also fork out a huge sum of money for their college fees. The cost of going to a
private college has gone up significantly over the years, with tuition fees alone rising from $10783 in 1973
to $30094 in 2013 (CollegeBoard, 2014).
Often, a lack of liquidity forces students to take up loans and they end up being burdened with hefty
student loans upon graduation. Many college students are unable to afford the full cost of their education
and hence take up student loans, with the hope of getting a good job after graduating and being able to
comfortably pay the loan back in installments. Unfortunately, the second part of the causation does not
seem to hold as many students find that their degree now does little to help them secure a good job.
Student loan delinquencies have hit a high of 41% in the recent years, showing the struggles graduates are
facing to pay back their student loans. Since 2007, while the number of hopeful students taking up loans
has increased over the years, the default rates have increased as shown in the diagrams below.
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Number of Loans
2008
2009
Year
2010
2011
Percentage of Default
2008
2009
Year
2010
2011
It is easy to see that degrees do not come cheap, and US students should reconsider if a degree is really
worth obtaining. Some students have opted for alternative routes after high school, going into specialized
courses such as culinary training programs which provide training for specific vocational skills. These
courses typically have a shorter duration than college education, and are able to meet employer demands
more effectively than college degrees in certain industries.
The changes in attitudes towards college degrees in society have altered the way in which degrees are
recognized, and while the degree probably still keeps its value as an educational attainment, it has lost its
value of being a unique selling point which an employee can depend on to show his ability. A degree is only
as valuable as how society views it to be, and it seems like a college degree in the US is no longer simply
taken at face value as it used to be.
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References
1. CollegeBoard. (2014) Tuition Fee Charges Over Time 1973-74 Through 2013-14, Selected Years.
Retrieved from: http://trends.collegeboard.org/college-pricing/figures-tables/published-pricesnational#Tuition and Fee and Room and Board Charges over Time
2. Lee, L. (17 June 2012) Bachelors Degree: Has it Lost its Edge and Value?. The Christian Science Monitor.
Retrieved from: http://www.csmonitor.com/The-Culture/Family/2012/0617/Bachelor-s-degree-Has-itlost-its-edge-and-its-value
3. Lofnheider. (24 October 2011) Todays College Degrees Lose Their Values Faster Than New Cars.
PoliticusUSAs Archives. Retrieved from:
http://archives.politicususa.com/2011/10/24/college-degree-value-car.html
4. Manpower Group. (2013) Manpower Employment Outlook Survey. Retrieved from:
http://www.manpowergroup.com/wps/wcm/ connect/manpowergroup-en/home/thoughtleadership/meos/#.VDdah9SUeFc
5. Rampbell, C. (12 June 2013) Data Reveal a Sharp Rise in Americans with College Degrees. The New York
Times. Retrieved from: http://www.nytimes.com/2013/06/13/education/a-sharp-rise-in-americans-withcollege-degrees.html?pagewanted=all&_r=0
6. Ruiz, R. (19 October 2011) Are Too Many Americans Earning Four Year Degrees?. The New York Times.
Retrieved from: http://thechoice.blogs.nytimes.com/2011/ 10/19/degree-debate/
7. Staton, M. (8 January 2014) The Degree is Doomed. Harvard Business Review. Retrieved from:
http://blogs.hbr.org/2014/01/the-degree-is-doomed/
8. The White House, USA. (2013) Cohort Default Rates for Federal Student Loans. Federal Student Aid
Office of US Department of Education. Retrieved from: https://studentaid.ed.gov/about/datacenter/student/defaul
9. The White House, USA. (2013) Official Student Default Rates for Schools. Federal Student Aid Office of
US Department of Education. Retrieved from:
http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html
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Undergraduate
Lee Kong Chian School of Business
Singapore Management University
aaron.wong.2012@business.smu.edu.sg
Undergraduate
School of Economics
Singapore Management University
li.zhou.2012@economics.smu.edu.sg
Undergraduate
School of Economics
Singapore Management University
yiheng.teo.2013@economics.smu.edu.sg
Undergraduate
School of Information Systems
Singapore Management University
ishitap.2012@sis.smu.edu.sg