The Economist February 8th 2014Contents

On the coverThe world economy will havea bumpy 2014. But therecovery is not at risk, page11. Investors have beenforced to reassess their rosyview, page 67. The Fed may be"tapering" but central banksin Japan and Europe are stilleasing, page 68

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TheEconomist

Volume 410 Number 8873

First published in September 1843tu tope po ,t in 'n seve,e contest betweeninteligente, which prenses forwnrd, andon unworthy, timid ignoranceobstructingour progress."

•Editorial offices in London and also:Atlanta, Beijing, Bertin, Brussels, Cairo,Chicago, Hong Kong, Johannesburg, Los Angeles,Mexico City, MOScow, New Delhi, NewYork, Paris,San Francisco, 510 Paulo, Singapore, Tokyo,Washington DC

8 The world this week

Leaders11 The global economy

The worldwide wobble

12 ImmigrationBarack Obama,depor ter-in-chief

12 The EuropeanCommissionLagarde for president

14 China's env-ironmentA small breath of fresh air

16 Organised crimeDealing with the devil

Letters18 On livestock and

emissions, California,technology and jobs,algorithms

Briefing

23 The great expulsionHow America deports

24 Deported MexicansBordering on cruelty

United States27 The farm bill

A trillion in the trough

28 TradeWhen Harry mugged Barry

29 Obamacare and jobsInsured and inactive

29 College sportsUnions for gladiators

30 Immigration reformA Republican plan

30 Assortative matingSex, brains and inequality

31 Making heroin saferHoffman's habit

31 The origins of manA debate at the CreationMuseum

34 LexingtonZero-sum politics

The Americas35 El Salvador's gangs

Breaking good

36 BelloDilma's tight skirt

38 Canada, America and oilA pipeline runs through it

38 The media in EcuadorDrawn and quartered

Asia39 Politics in Myanmar

Not so fast

40 Pakistan and the TatibanJawing with the enemy

40 Crime and politics inBangladeshBang bang club

41 Japan's NHKThe ties that bind

42 BanyanThailand awaiting theendgame

China43 The party and the media

Learning to spin

44 Environmental reformTransparency in the haze

44 Internal tradeIt's a continent, a ctually

4

Middle East and Africa

45 Manufacturing in AfricaAn awakening giant

46 Somalia's civil warPushing across borders

46 Sanctions against IsraelA burgeoning campaign

47 The media in Saudi ArabiaBeating the censor

48 Libyan footballSomething to celebrate

48 Repression in EgyptThe same old btanket

Europe49 German foreign policy

No more shirking

50 France and AmericaMr Hollande goes toWashington

51 Spain's rightA new Partido Té?

51 Italian justiceUntiinely

52 Potish energy policyA different Energiewende

53 CharlemagneThe EU and Ukraine

n

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America's great expulsionDeporting record numbers ofimmigrantsis a costly way tomake America less dynamic:leader, page 12. Barack Obamahas presided over one of thela rgest peacetimeoutflows ofpeople in America's history,pages 23-26. The expulsionpolicytoward migrants carriesa big human cost, page 24

Lagarde for president If everthe European Union needed acompetent reformer with newideas, it is now: leader, page 12

Chi na's environmentIts government gives thecountry's Davids a sling to useagainst polluting Goliaths:leader, page 14. Steps towardsmore openness, page 44

► Contents continues overleaf

The Economist February 8th 2014Contents

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6

The business-school bubbleThey are better at analysingdisruptiveinnovation thandealing with it: Schumpeter,page 66. The rise of MOOCsupend the economics of highereducation: Free exchange,page 74

BP The British oil conmany issafer, smaller, sadder andwiser sinceits disaster in theGulf of Mexico, page

Handsome cyclists A newstudy suggests a link betweencyclists' looks and theirperformance, page 76

Britain

55 Mixed-race nationInto the melting pot

56 Booze-free barsShaken not slurred

57 BagehotDavid Lammy, urbanphoenix

International58 Government-to-

government tradeUnbundling the state

59 The winter OtympicsHot or cool?

59 Web addressesThe narre game

60 The ivory tradeUp in smoke

Business61 BP

A reduced giant62 Microsoft's new boss

Inside job63 Google, the EU and

antitrustSearch over

63 The suit businessWho'll wear the trousers?

64 Corporate bedfellowsComparing big companies

64 Trouble at the PanamaCanalDead locks

65 Cable televisionCan CNN entertain?

66 SchumpeterBusiness-school woes

Finance and economics

67 Turmoilin financialmarketsGoldilocks and the bears

68 Global monetary policyEurope and Japan hold out

69 ButtonwoodA new world for bonds

70 Brazil's banksPast is epilogue

70 Fees for hedge funds andprivate equityGoing clown

71 Executive share optionsUnintended consequences

71 Commodity pricesFixing the fix

72 Slums and social mobilityDown and out

74 Free exchangeMassive open on linecourses

Science and technology75 Gene therapy

Ingenious76 Athletic enhancement

Breathe it in76 Sexual selection

Fi ot wheels77 Bionics

Once more, with feeling

Books and arts78 Antonio Muñoz Molina

A Spanish master79 King Faisal I

Maker of Iraq79 Social physics

Measurements of man80 Tribal art

Masks and magic80 Fiction and software

Geek sublime81 Jumbo, a Life

Elephantasia

84 Economic and financialindicatorsStatistics on 42economies, plus ourmonthly poli of forecasters

Obituary

86 Philip Seymour HoffmanTravelling through chaos

Philip Seymour HoffmanOur obituary, page 86. How tomake heroin less deadly,page 31

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