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431. The Crisis of Capitalism, the Noun

Author:
Nancy Folbre
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
This paper explores the challenges that feminist theory, stratification economics, and intersectionality pose to the characterization of capitalism as a unitary system. Attention to the structural basis for inequalities based on gender and race weakens traditional Marxian concepts of exploitation based on the appropriation of surplus value. On the other hand, the continuing relevance of many forms of collective conflict heightens appreciation of the ways in which capitalist institutions discourage the forms of cooperation necessary to address both ecological threats and shortfalls in care provision.
Topic:
Economics, Race, Capitalism, Intersectionality, Gender, and Feminist Theory
Political Geography:
Global Focus

432. Federal Reserve Monetary Policy and Wealth Inequality

Author:
Aaron Medlin and Gerald Epstein
Publication Date:
04-2023
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
This study analyzes the impact of conventional expansionary monetary policy on wealth inequality in the United States from 1976 to 2012. We use the local projections instrumental variable (LP-IV) approach for our estimation method and employ two monetary shock series to identify the causal effect. High-frequency data is obtained on the distribution of real net wealth and the Gini index from two new sources: Realtime Inequality and the Federal Reserve’s Distributional Financial Accounts (DFA). We find that expansionary monetary policy has positive and persistent effects on wealth inequality over the medium term, in contrast to previous research. Specifically, an expansionary policy of 100 basis points cut in the policy rate increases the share of wealth for the top 10 and 1 percent and reduces the share for the bottom 50 and middle 40 percent of the distribution. Overall, wealth inequality, as measured by the Gini coefficient, increases around 0.005 on the Gini scale (between 0 and 1) with Realtime data and around 0.015 using DFA data. We also find that the effect size of expansionary policy on inequality varies over prior decades; the effects between 1976 and 1980 are smaller and transient relative to the periods since. We also find that expansionary policy increases wealth inequality regardless of the business cycle. However, its effects are more substantial during economic expansions. Lastly, we estimate the historical contribution of monetary policy to the variation in wealth distribution and find that it does account for significant variations in wealth distribution during certain periods of recent U.S. history.
Topic:
Monetary Policy, Federal Reserve, Economic Inequality, and Wealth Distribution
Political Geography:
Global Focus

433. Factsheet: Giorgia Meloni

Author:
Bridge Initiative Team
Publication Date:
02-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Giorgia Meloni was elected Prime Minister of Italy in 2022. In 2012, she co-founded the neo-fascist Fratelli d’Italia (Brothers of Italy), which she has been leading since 2014. Since 2020, she has been the president of the European Conservatives and Reformists Party (ECR). Meloni is known for making many anti-Muslim comments during her election campaigns.
Topic:
Migration, Islamophobia, Far Right, Muslims, Giorgia Meloni, and Alt-Right
Political Geography:
Europe and Italy

434. Factsheet: Vienna Forum on Countering Segregation and Extremism in the Context of Integration

Author:
Bridge Initiative Team
Publication Date:
02-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
The Vienna Forum on Countering Segregation and Extremism in the Context of Integration was initiated by Austrian Minister of Women and Integration Susanne Raab (ÖVP) to make Vienna “a center in the fight against political Islam.” Eleven European countries are part of the conference. Once a year, the forum brings together ministers and bureaucrats from several European countries alongside hundreds of terrorism and deradicalization experts, some of whom are known to advocate for policies that criminalize Muslim civil society.
Topic:
Islamophobia, Integration, Regional Organizations, and Susanne Raab
Political Geography:
Europe and Austria

435. Factsheet: Manfred Weber

Author:
Bridge Initiative Team
Publication Date:
03-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Manfred Weber is a German politician who has served as President of the European People’s Party (EPP) since 2022, and as Leader of the EPP Group in the European Parliament since 2014. He has been a Member of the European Parliament (MEP) from Germany since 2004. He is a member of the Christian Social Union in Bavaria (CSU), which is a member of the EPP. Weber has made statements alleging that Muslims and Islam are a threat to European culture.
Topic:
European Union, Islamophobia, Catholic Church, Xenophobia, Christian Social Union, and European People's Party (EPP)
Political Geography:
Europe, Germany, and Austria

436. Factcheck: Christchurch Terror Attacks on Mosques

Author:
Bridge Initiative Team
Publication Date:
04-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
In March 2019, a white supremacist opened fire at two mosques in Christchurch, Aotearoa New Zealand, killing 51 people and live-streaming the entire attack on Facebook. The perpetrator published a manifesto outlining his racist, Islamophobic, and xenophobic views. Following the attack, the Royal Commission of Inquiry highlighted the lack of official resources devoted to countering far-right extremism. In the aftermath, ongoing dialogues between the Muslim community and the government were established, significant changes made to the firearms licensing system, and a global initiative launched to eliminate violent extremist content online.
Topic:
Islamophobia, Far Right, Mass Shootings, and Muslims
Political Geography:
New Zealand and Christchurch

437. Factsheet: Magnus Ranstorp

Author:
Bridge Initiative Team
Publication Date:
04-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Magnus Ranstorp is an associate professor of political science. Since 2022, he has been the head of research at the Center for Total Defense and Societal Security (CTSS). He regularly publishes opinion pieces and is invited to media outlets as an expert on various subjects. Ranstorp has promoted conspiracy theories accusing European Muslim organizations of being tied to the Muslim Brotherhood, and is a leading voice against Muslim civil society in Sweden.
Topic:
Islamophobia, Islamism, Muslim Brotherhood, and Magnus Ranstorp
Political Geography:
Europe and Sweden

438. Factsheet: Sameh Egyptson

Author:
Bridge Initiative Team
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Sameh Egyptson is a Swedish academic and highly visible public commentator. He is hired as an expert by public agencies and right-wing political parties. Egyptson is engaged in spreading conspiracy theories about an alleged Islamization of Sweden by the Muslim Brotherhood.
Topic:
Islamophobia, Academia, Muslim Brotherhood, and Sameh Egyptson
Political Geography:
Europe and Sweden

439. Factsheet: Vishwa Hindu Parishad of America (VHPA)

Author:
Bridge Initiative Team
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Vishwa Hindu Parishad of America (VHPA) is a Hindu far-right organization and the US offshoot of India’s Vishwa Hindu Parishad (VHP), designated as a “militant religious organization” by the Central Intelligence Agency’s (CIA) World Factbook for a number of years. VHPA’s leaders have a history of making anti-Muslim remarks, it has platformed far-right Hindu nationalists and recently has targeted American Muslim politicians and rights organizations who call attention to the persecution of Muslims and rising Hindu nationalism in India.
Topic:
Islamophobia, Far Right, Narendra Modi, Political Extremism, Vishwa Hindu Parishad of America (VHPA), and Hindu Nationalism
Political Geography:
North America and United States of America

440. Factsheet: Friedrich Merz

Author:
Bridge Initiative Team
Publication Date:
07-2023
Content Type:
Working Paper
Institution:
The Bridge Initiative, Georgetown University
Abstract:
Friedrich Merz is a German politician. In 2022, he became the leader of the center-right Christian Democratic Union (CDU), and leader of the CDU parliamentary group in the German federal parliament, the Bundestag. He has made anti-Muslim comments and represents the conservative right-wing camp within his party.
Topic:
Domestic Politics, Islamophobia, and Friedrich Merz
Political Geography:
Europe and Germany