Jobs theft Did the digital spreadsheet steal jobs? Yes & No. The 1978 invention replaced 2-page spreads in paper ledgers overnight & re-defined accountancy. 400,000 US bookkeeper/ accounts clerk jobs – calculate, fill-in, check, correct – ended. But as accounting became cheaper, more demand & 600,000 jobs for other types of accountant appeared. No need…
Category: J
Junk rating Financial crisis couldn’t have occurred without the rating agencies. 89% of Moody’s 2007 investment-grade securities later classed as junk. Yet S&P, Moody’s and Fitch still control 96% of global market, and make debt-issuer pay for their ratings. Guessed the Word? Series 11 (1/4) [photo: Alexas_Fotos]