Stephen Roach’s Three Forces of Globalization

John Robb quotes Stephen Roach: “Three new mega-forces are now at work in driving today’s uniquely powerful strain of globalization: (1) The global labor arbitrage – the IT-enabled integration of offshore employment pools that fundamentally alters the worldwide mix of job creation and wage determination. (2) The global price arbitrage – a price-setting mechanism that captures the balance between global supply and demand. (3) The global saving arbitrage – reflecting a world that is near desperate in its efforts to keep funding the US current account deficit and the excess spending of the income-short American consumer.”

MIT $50K Entrepreneurship Winners

The winners are:

The 2005 50K Competition winner: Balico
Balico will develop and commercialize a wearable vibrotactile balance aid that accurately senses and displays body tilt in order to help prevent falls.

Two runners up: Nanocell Power & Vacuum Excavation
Nanocell Power’s technology enables the viability of fuel cells for portable electronics today and paves the way for tomorrow’s automotive fuel cell market. Our patented manufacturing process provides more efficient distribution of expensive catalyst and carbon nanofibers in the fuel cell membrane. This can decrease the size of fuel cells in portable electronics by 80%, increase the power output of military fuel cells by 400%, or cut the cost of automotive fuel cells to 20% that of today’s technology.

The top ten feet of soil are densely packed with utility wires, gas mains and sewer pipes whose location is often poorly mapped. Excavation with traditional backhoes damages utilities and puts operators at risk for catastrophic injury. Vacuum Excavation Technologies offers a new excavation device that works with existing machinery to enable efficient operation without risk to utilities or operators.