Business Forecast 2020: Michigan Ross Faculty Analyze the Year Ahead in Healthcare, Fintech, Social Media, and More
We asked Michigan Ross faculty experts for their thoughts on critical business topics heading into 2020. Here are some of their insights:
“The insurance sector is driving tremendous shifts in the market. 2017 was the second costliest year on record, with $330 billion in storm losses. In the end, insurers act as neutral brokers in communicating the reality and the dangers of climate change. They are looking at the numbers and have no political interest in this debate, framing the issue in terms business people can understand.”
Sarah Miller on Healthcare: More Medicaid Expansion, But No ‘Medicare for All’
“I think it's possible that a lot of progress towards improved coverage could be made within the framework that we already have. For example, many low-income people remain uninsured because their state has not adopted the Medicaid expansions under the Affordable Care Act. If all states adopted these eligibility expansions as originally intended by the law, we'd see a lot of progress towards full health insurance coverage.”
Marcus Collins on Social Media: More Election Influence; Greater Pressure on Facebook
“Social media is people media, and we, the people, rely on other people to understand the world and where we fit into the world. We collectively negotiate and construct beliefs and norms among our people to inform what we do and where we go. It’s been this way since the beginning of time so, of course, we should expect much of the same election influence as we have seen in the past. It may become even more hyperbolic, due to how identity-driven our political landscape has become.”
“Retailers will continue to find new ways to leverage, integrate, and expand their channel strategies. This could mean more brick-and-mortar retailers offering online services, or more online retailers offering pickup and return services through physical locations. The desire to achieve better channel integration will likely spur new rounds of mergers and acquisitions or strategic partnerships, such as the merger of Amazon and Whole Foods or the partnership between Amazon and Kohl's.”
Robert Dittmar on Fintech: Innovations in B2B payments; struggles for cryptocurrencies
“There have been massive innovations in consumer-to-business and consumer-to-consumer payments, but business-to-business payments remain relatively idiosyncratic and analog. I’m interested to see to what degree fintech innovators can streamline business’ ability to pay other businesses and improve efficiency.”
Joel Slemrod on Taxes: Income Inequality May Get Attention, While the Budget Deficit Needs More
“Ordinarily, the rapid growth and high levels of federal government debt would be getting considerable attention in the policy discussion. This has not happened in part because the supposed negative consequences — such as rising interest rates and crowded-out private investment — are not visible. But debt-financed spending is not costless, and these costs will eventually appear.”
Media Contacts: Bridget Vis, Public Relations Specialist, visb@umich.edu; or michiganrosspr@umich.edu
Matthew Trevor, Senior PR Specialist
mtrevor@umich.edu