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41. How to think about finance?

Author:
Atif Mian
Publication Date:
01-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
There has been a major structural shift in financial markets since the 1980s. The world is awash in credit, and credit is cheaper than ever before. I discuss how increasing financial surpluses within parts of the economy have resulted in an expansion in the supply of credit, which has largely financed the demand-side of the real economy. This increasing reliance on “credit as demand” raises some serious policy questions going forward. I discuss the importance of equitable and inclusive growth, fair taxation system and risk-sharing in creating a financial system that promotes prosperity and stability.
Topic:
Economics, International Trade and Finance, Finance, Economic Policy, and Economic Theory
Political Geography:
United States

42. Worker Collective Action in the 21st Century Labor Market

Author:
Suresh Naidu
Publication Date:
01-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Private sector union density in the United States has fallen below 7%, but new historical evidence shows high union density played an important role in compressing the US income distribution at mid-century and lowering intergenerational income persistence. Other recent evidence on pervasive labor market power suggests that unions may be able raise wages without severe dis-employment effects, and may alleviate inefficient contracting problems. Despite substantial survey evidence indicating latent demand for unions, employers have successfully fought unionization efforts in rising service sectors, and a combination of legal restrictions and economic transformations have impaired the ability of US unions to solve collective action problems at the appropriate scale – an issue that economics may be able to help ameliorate.
Topic:
Economics, Labor Issues, Income Inequality, and Labor Policies
Political Geography:
United States

43. Confronting Rising Market Power

Author:
Jonathan B. Baker and Fiona Scott Morton
Publication Date:
05-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Rising market power in the U.S. economy is not just a microeconomic problem, as the textbook analysis shows, creating allocative efficiency losses and transferring wealth away from victimized participants in the affected markets. Rising market power also undermines inclusive prosperity by contributing to inequality and slowed economic growth. Modern economic research points to multiple ways to attack market power and enhance competition, including ways of strengthening antitrust enforcement, improving antitrust rules and institutions, and deploying regulation to enhance competition.
Topic:
Economics, Economic Policy, Economic Theory, Macroeconomics, and Microeconomics
Political Geography:
United States

44. Antitrust and Labor Market Power

Author:
José Azar, Ioana Marinescu, and Marshall Steinbaum
Publication Date:
05-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Starting with the Chicago School’s influence in the late 1970s and 1980s, antitrust enforcement has been weakened under the assumption that market power is justified by economic efficiency. While consumers are the main focus of antitrust enforcement, the weakening of antitrust enforcement has likely also adversely impacted workers, thus contributing to increasing inequality.
Topic:
Economics, Labor Issues, Economic Policy, Economic Theory, and Antitrust Law
Political Geography:
United States

45. It’s Good Jobs, Stupid

Author:
Daron Acemoglu
Publication Date:
06-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Progressive policy proposals that would have appeared radical just a few years ago, including high marginal tax rates, wealth taxes, universal basic income, single-payer health insurance, and free college for all, are now on the agenda. The recognition that we can do more to create shared prosperity — that is, economic growth benefiting society at large, not just corporations and the very well-educated — is a welcome development. But are we targeting the right policies? We are at a critical juncture both economically and politically. We do not have much time left to reverse the trend towards greater inequality and worsening economic prospects for less educated Americans before its social consequences become more deeply ingrained. And the 2020 presidential election may provide a unique opportunity to adopt fundamentally different economic policies. Failing to identify the right policy priorities would not only squander this critical juncture; it could also deepen the rift between the different wings of US politics.
Topic:
Economics, Labor Issues, Employment, Labor Policies, Economic Policy, and Economic Theory
Political Geography:
United States

46. Thoughts on Medicare for All

Author:
Ilyana Kuziemko
Publication Date:
07-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
My read of the evidence (and my own social welfare weights, which place great weight on the un- and under-insured as well as middle-class workers who are implicitly taxed via expensive health plans) lead me to conclude that Medicare for All would increase welfare in the US. However, I also want to highlight what I consider the biggest risks of such a policy.
Topic:
Economics, Health, Health Care Policy, and Economic Policy
Political Geography:
United States

47. The Economics of Free College

Author:
David Deming
Publication Date:
06-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
Despite growing public concern about the cost of college, higher education is still the best investment a young person can make. The American public understands that college is both increasingly necessary and increasingly unaffordable. This dynamic explains the growing public conversation around the idea of “free college”.
Topic:
Economics, Education, Economic Policy, and Higher Education
Political Geography:
United States

48. Carbon Pricing for Inclusive Prosperity: The Role of Public Support

Author:
David Klenert and Linus Mattauch
Publication Date:
08-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
It is common knowledge among economists that the most efficient instrument to mitigate climate change is a price on carbon. However, current carbon prices around the world are too low to reach global climate targets. This essay assesses the difficulties in designing successful carbon pricing reforms. It discusses how to overcome these difficulties by combining traditional public economics lessons with findings from behavioral and political science. We stress insights from public finance about the “second-best” nature of pricing carbon reforms. Further, we highlight how framing a carbon tax reform around tangible benefits can enhance political support. Finally, we explain how certain countries were successful at introducing high carbon prices and what can be learned from these cases for making progress with climate change mitigation.
Topic:
Climate Change, Economics, Science and Technology, Natural Resources, Global Warming, Green Technology, and Economic Policy
Political Geography:
United States

49. Should We Worry About Corporate Leverage?

Author:
Şebnem Kalemli-Özcan
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
There has been a large increase in corporate leverage in many countries since the early 2000s. Figure 1 plots corporate debt to GDP since 2002 for different groups of countries. With the exception of the U.S., both advanced economies and emerging markets have corporate debt exceeding GDP since 2005. U.S. corporate debt is also on an increasing trend. The fastest growth in corporate debt has been observed in emerging markets. A closer look will reveal that China and other fast growing emerging countries in Asia drive most of the increase in corporate debt for the emerging markets.
Topic:
Debt, Economics, Markets, Regulation, Multinational Corporations, and Economic Policy
Political Geography:
United States and Global Focus

50. A World Dividing: The International Implications of the Sino-American Rift

Author:
Chas W. Freeman Jr.
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Quincy Institute for Responsible Statecraft
Abstract:
The Trump administration has declared economic war on China. The United States has raised taxes on Chinese imports to levels not seen since the Smoot–Hawley tariffs of the Great Depression. Over the course of this year, Chinese imports of American goods have decreased by 26.4 percent, while China’s exports to the United States are down 10.7 percent. Washington has embargoed exports to China of a constantly expanding list of high-tech manufactures. It seeks to block Chinese telecommunications companies from third-country markets. The United States has mounted a vigorous campaign to persuade other countries to reject Chinese investments in their infrastructure, notably in the case of 5G telecommunications networks.
Topic:
International Trade and Finance, Global Political Economy, Trade Wars, International Community, and Exports
Political Geography:
United States, China, Asia, and Global Focus

51. Enough Toxic Militarism

Author:
Nikhil Pal Singh
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
Quincy Institute for Responsible Statecraft
Abstract:
I teach college students at New York University’s campus on Washington Square in Manhattan and in its prison program in upstate New York. My students have never lived in a time when the United States was not at war. Growing up after the Vietnam War, when the United States had converted to an all-volunteer military, the great majority of my N.Y.U. students have not served in uniform, although the military is more likely to be a stop on the itinerary, or part of family experience, for those who end up in prison. For most of them, the wars in which U.S. soldiers and support personnel have been engaged on three continents for the past two decades retain a hazy, distant, and amorphous character; this perception is also typical now among civilian noncombatants. That the consequences of war-fighting remain seemingly remote ironically reinforces war as a natural and unchanging backdrop to social life in the United States today. We are overdue for a major cost accounting and reappraisal of these permanent wars.
Topic:
Foreign Policy, Military Strategy, Military Affairs, Domestic Politics, and Military Intervention
Political Geography:
United States

52. The U.S.-South Korea Alliance: Toward a Relationship of Equals

Author:
Jessica J. Lee
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Quincy Institute for Responsible Statecraft
Abstract:
President Trump contends that “very rich and wealthy countries” like the Republic of Korea should pay more for American troops stationed in their countries. While a more balanced burden-sharing arrangement is necessary, the U.S.’s demand for a five-fold increase in South Korea’s contribution, from $924 million to $5 billion, threatens to tear apart the bilateral relationship and undermines U.S. interests on the Korean Peninsula. The issue demanding attention is not who pays how much, but whether the existing terms of the U.S.–ROK security relationship remain pertinent or must be revised. The long-term goal of U.S. grand strategy should be to facilitate the creation of a peaceful global order consisting of fully sovereign, law-abiding states capable of providing for their own security. Any state that hosts foreign forces and relies on those forces for its defense is not fully sovereign: It is dependent upon others to ensure its security. This describes the Republic of Korea today.
Topic:
Diplomacy, International Cooperation, Nuclear Weapons, Liberal Order, and Alliance
Political Geography:
United States, Asia, and South Korea

53. End U.S. Military Support for the Saudi-Led War in Yemen

Author:
Enea Gjoza and Benjamin H. Friedman
Publication Date:
01-2019
Content Type:
Policy Brief
Institution:
Defense Priorities
Abstract:
The Yemeni Civil War is in its fourth year, and Saudi Arabia, the United Arab Emirates (UAE), and their allies are not close to a victory over the Houthi rebels.
Topic:
Conflict Resolution, Conflict Prevention, Defense Policy, Military Strategy, Military Affairs, Military Spending, Military Intervention, and Peace
Political Geography:
United States, Middle East, Yemen, Saudi Arabia, and North Africa

54. Disentangling from Syria's Civil War

Author:
Benjamin H. Friedman and Justin Logan
Publication Date:
05-2019
Content Type:
Policy Brief
Institution:
Defense Priorities
Abstract:
The United States intervened in Syria’s civil war in two ways: (1) anti-Assad efforts—through aid to rebels to help foster regime change and with airpower, troops and support to a militia—and (2) anti-ISIS efforts—through aid to the Syrian Democratic Forces (SDF) to destroy the Islamic State’s territorial caliphate. The first mission was an ill-considered failure, the second a success.
Topic:
Conflict Resolution, Civil War, Military Strategy, Peacekeeping, Military Affairs, Military Intervention, and Peace
Political Geography:
Russia, United States, Iran, and Syria

55. Exiting Afghanistan: Ending America's Longest War

Author:
Benjamin H. Friedman
Publication Date:
08-2019
Content Type:
Policy Brief
Institution:
Defense Priorities
Abstract:
The war in Afghanistan—now America’s longest at nearly 18 years—quickly achieved its initial aims: (1) to destroy the Al-Qaeda terrorist organization and (2) to punish the Taliban government that gave it haven. However, Washington extended the mission to a long and futile effort of building up the Afghan state to defeat the subsequent Taliban insurgency.
Topic:
Conflict Resolution, War, Military Strategy, Peacekeeping, Military Affairs, and Military Intervention
Political Geography:
Afghanistan, United States, Middle East, and Asia

56. Counting the Cost of Financial Warfare: Recalibrating Sanctions Policy to Preserve U.S. Financial Hegemony

Author:
Enea Gjoza
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Defense Priorities
Abstract:
The American economy, dollar, and banking system create unparalleled power for the U.S. in the global financial system. This power provides disproportionate influence over the world’s key economic and financial institutions, regulatory authority over major foreign companies and banks, and allows borrowing on favorable terms and in dollars, enabling long-term deficit spending.
Topic:
Economics, International Trade and Finance, Hegemony, Sanctions, Finance, and Global Political Economy
Political Geography:
United States

57. Grooming the next Generation of Foreign Policymakers: Women, Peace and Security in Practice

Publication Date:
04-2018
Content Type:
Policy Brief
Institution:
Our Secure Future
Abstract:
The Problem: There is a need to groom the next generation of policymakers on the Women, Peace and Security (WPS) agenda. This is due to a rising demand in international affairs-related careers that require gender and WPS expertise, and the passage of the 2017 Women, Peace and Security Act which mandates enhanced professional training and education on Women, Peace and Security. However, trainings and educational programs on Women, Peace and Security (WPS) are created in silos such as academia, military, government, etc., and are often ad hoc. The Solution Strengthen the Women, Peace and Security community of educators and practitioners. Regular collaboration across sectors can help map the field, inventory strategies to professionalize the field, and encourage institutions to offer more training and educational programs on WPS on a regular basis. Key Takeaway from the Experts Policymakers, practitioners, and scholars identified a key first step: in order to professionalize the field, it is necessary to establish an agreed-upon set of “minimum core competencies” for Women, Peace and Security to groom the next generation of policymakers and leaders.
Topic:
Security, Foreign Policy, Gender Issues, Women, Peace, and WPS
Political Geography:
United States and Global Focus

58. Women, Peace & Security: By the Numbers

Publication Date:
05-2018
Content Type:
Policy Brief
Institution:
Our Secure Future
Abstract:
There is a growing body of evidence that shows us that women’s participation yields positive results. Whether in governance, in peace processes, or serving as peacekeepers, increasing the number of women at the table can reduce corruption, increase trust, and create sustainable peace.
Topic:
Security, Foreign Policy, Gender Issues, Women, Peace, and WPS
Political Geography:
United States and Global Focus

59. What You Should Know about the Women, Peace, and Security Act of 2017

Author:
Sahana Dharmapuri, Jolynn Shoemaker, and Sarah Williamson
Publication Date:
04-2018
Content Type:
Policy Brief
Institution:
Our Secure Future
Abstract:
The Women, Peace, and Security Act of 2017 is a major milestone for US law. It recognizes that women are on the frontlines of international security challenges as powerful agents of change to create stability and peace. The law mandates women’s meaningful participation in international peace and security.
Topic:
Security, United Nations, Women, Peace, and WPS
Political Geography:
United States and Global Focus

60. The Rise of Far-Right Extremism in the United States

Author:
Seth G. Jones
Publication Date:
11-2018
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
Right-wing extremism in the United States appears to be growing. The number of terrorist attacks by far-right perpetrators rose over the past decade, more than quadrupling between 2016 and 2017. The recent pipe bombs and the October 27, 2018, synagogue attack in Pittsburgh are symptomatic of this trend. U.S. federal and local agencies need to quickly double down to counter this threat. There has also been a rise in far-right attacks in Europe, jumping 43 percent between 2016 and 2017.
Topic:
Terrorism, Violent Extremism, Domestic Politics, and Far Right
Political Geography:
United States