Search

You searched for: Content Type Journal Article Remove constraint Content Type: Journal Article Topic Economics Remove constraint Topic: Economics
Number of results to display per page

Search Results

  • Author: Robert B. Zoellick
  • Publication Date: 08-2013
  • Content Type: Journal Article
  • Journal: The National Interest
  • Institution: Center for the National Interest
  • Abstract: LAST YEAR, during his visit to the United States, Chinese president Xi Jinping introduced the idea of a “new type of great-power relationship.” In March of this year, in apparent response, President Obama's national-security adviser, Tom Donilon, suggested an interest in building “a new model of relations between an existing power and an emerging one.” This June, the two presidents met in California to explore whether their strategic outlooks can be reconciled. I suspect that President Xi's concept reflects the senior leadership's study of history. At last year's meeting of the U.S.-China Strategic and Economic Dialogue, former president Hu Jintao stated, “We should prove that the traditional belief that big powers are bound to enter into conflict is wrong, and [instead] seek new ways of developing relations between major countries in the era of economic globalization.” In the United States, professors Graham Allison and Joseph Nye at Harvard have referred to this challenge as “the Thucydides trap”: in explaining the cause of the great Peloponnesian War of the fifth century BC, Thucydides pointed to the rise of Athens and the fear it inspired in Sparta. In the centuries since, scholars have pondered how power shifts have led to competitive tensions, which sometimes have been managed and sometimes led to conflict. This essay will pose a question: What might be the substance of a new type of great-power relationship between China and the United States? Kevin Rudd, former prime minister and foreign minister of Australia, has also taken up this topic in a series of thoughtful speeches. His approach points to the need for reinforcing dialogues and cooperative efforts.
  • Topic: International Relations, Economics, Globalization
  • Political Geography: United States, China
  • Author: Jakub Grygiel
  • Publication Date: 08-2013
  • Content Type: Journal Article
  • Journal: The National Interest
  • Institution: Center for the National Interest
  • Abstract: THE EUROPEAN Union's unfolding crisis tends to be seen as purely economic in nature and consequence. The EU is a common market, with a common currency adopted by most of its members and with fiscal problems of one kind or another facing almost all of its capitals. Most analyses of the euro crisis focus, therefore, on the economic and financial impact of whatever “euro exit” may occur or of a European fiscal centralization. In the worst case, they project a full-fledged breakup of the common currency and perhaps even the EU itself. Not much can be added to this sea of analysis except a pinch of skepticism: nobody really knows the full economic impact, positive or negative, of such potential developments. In fact, not even European leaders seem to have a clear idea of how to mitigate the economic and political morass of the Continent. While it is certain that the EU of the future will be different, it isn't clear just how. If we look at the current situation of the EU from a security perspective, however, it becomes much more difficult to foresee any long-term positive outcome. That's because the euro troubles of today will have powerful negative effects on the security of the region, resulting in challenges that will preoccupy Europeans as well as Americans in the years to come.
  • Topic: Security, Economics
  • Political Geography: America, Europe
  • Author: Ari Armstrong
  • Publication Date: 03-2013
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: If you want to learn the theories and history of economists who champion government controls of the economy-and of economists who criticize such intervention-Randy T. Simmons's Beyond Politics: The Roots of Government Failure is a fantastic resource.
  • Topic: Economics, Government, Politics
  • Author: Craig Biddle
  • Publication Date: 03-2013
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: Welcome to the Spring 2013 issue of The Objective Standard.
  • Topic: Economics, Government, Financial Crisis
  • Political Geography: United States
  • Author: Michael Dahlen (reviewer)
  • Publication Date: 10-2013
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: From 2006 to 2007, Peter Schiff, CEO of Euro Pacific Capital, was one of few people warning that the U.S. economy was fundamentally unsound and that real estate was grossly overpriced. In his first book, Crash Proof: How to Profit From the Coming Economic Collapse (2007), he predicted that the economy, the housing market, and the stock market would fall apart. He also voiced these predictions on several cable news shows, yet few people heeded his warnings. Some hosts and other guests even mocked and ridiculed him. But Schiff was right. In his recent book, The Real Crash: America's Coming Bankruptcy-How to Save Yourself and Your Country, Schiff says that the worst is yet to come and that the 2008-2009 economic crisis was merely a "tremor before the earthquake." Schiff argues that the main culprit of our economic instability is America's central bank: the Federal Reserve. Through its control of the money supply and the effect this has on interest rates, the Fed artificially inflates the prices of various asset classes, creating so-called "bubbles," and when those prices inevitably collapse, the Fed then inflates the prices of other asset classes. "Throughout the 1990s," Schiff observes, "we had the stock bubble and the dot-com bubble. The Fed replaced that with the housing bubble and the credit bubble. Now, the Fed and the administration are replacing those bubbles with the government bubble" (p. 20). By "government bubble," Schiff is referring to the U.S. dollar and Treasury bonds. When asset prices collapse and recessions ensue, Schiff notes, the Fed-via bailouts and low interest rates-props up insolvent banks and other companies (while also helping to finance government debt). It has taken these actions allegedly to minimize the short-term pain of recessions, but in doing so, the Fed has prevented the economy from correcting itself, making it increasingly unsound. "If you keep replacing one bubble with another, you eventually run out of suds. The government bubble is the final bubble" (p. 23). If the Fed keeps interest rates artificially low and if the government keeps running massive budget deficits, the day will come, Schiff argues, "when the rest of the world stops trusting America's currency and our credit. Then we'll get the real crash" (p. 1). In his introduction to the book, Schiff explains that he is taking a different approach here than he took in his previous books: "[T]his time I have decided that rather than simply predicting doom, I would lay out a comprehensive set of solutions. That's why I wrote this book" (p. 2). After diagnosing our economic problems, Schiff explains how we can fix them. . . .
  • Topic: Economics, Government
  • Political Geography: America
  • Author: Emmanuel Kipole
  • Publication Date: 11-2013
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: Apparently capitalism and neo-liberalism have elevated the market to a position of omnipotence as a spontaneously occurring best resources' distributor. However, neo-liberalism as a philosophy that informs capitalism has always sparked divergent opinions as to its core spirit and practice. Neo-liberalism has always been netted into different perspectives. Although the consensual bottom-line of neo-liberalism philosophy is the free market, there is no consensus on its interpretation, contextualization and practices. As a whole, there is optimism in neo-liberalism the same as there is skepticism.
  • Topic: Economics
  • Political Geography: Afghanistan, United States, America, Europe
  • Author: Mohammad Javad Bakhtiari, Fariba Hossein Nia Salimi
  • Publication Date: 12-2013
  • Content Type: Journal Article
  • Journal: Iranian Review of Foreign Affairs
  • Institution: Center for Strategic Research (CSR)
  • Abstract: The article tries to examine Britain's place in EU's policymaking towards Iran. Having in mind the importance of the EU in international stages and also in economic and political matters, the following article has shed light on the ups and downs of Iran's relations with the UK as one of the important EU-nation states and has concluded that an effective but careful and logical relationship with EU member states could expand the space of more collaborations and in this regard Iran can utilize EU's capacities. Britain in contrary to the US has avoided military tools and has chosen a negotiating policy toward Iran and has assured other member states of these negotiations. Iran should choose a definite strategy towards EU based on having a complete knowledge of each member – state and their capabilities and special potentials in cooperation with Iran.
  • Topic: International Relations, Foreign Policy, Economics
  • Political Geography: Britain, United States, United Kingdom, Europe, Iran
  • Author: John Herbst
  • Publication Date: 12-2013
  • Content Type: Journal Article
  • Journal: PRISM
  • Institution: Institute for National Strategic Studies (INSS)
  • Abstract: In Great Game, Local Rules the New Great Power Contest in Central Asia, Alexander Cooley develops an excellent analytical framework for looking at the activities of China, Russia and the United States in Central Asia. Cooley offers three broad arguments. First, he observes that the three big powers have pursued different goals in Central Asia, which has meant that their interests do not necessarily conflict. China's main objective has been to stabilize Xinjiang by ensuring cooperative relationships on Xinjiang's border. This prompted beijing to resolve border disputes with kyrgyzstan, Tajikistan and kazakhstan on favorable terms for its Central Asian neighbors. The U.S. has sought to stabilize Afghanistan by establishing supply and base arrangements in Central Asia. Despite the ups and downs with Tashkent which led to the closing of the U.S. base at karshi khanabad in 2005, washington has largely achieved its objectives in the region. Russia has sought to remain the major power or hegemon in the region. Despite this ambitious goal, Moscow has been willing to accept efforts by the U.S. to establish bases in Central Asia because it also is interested in containing, if not defeating the Taliban in Afghanistan.
  • Topic: Economics
  • Political Geography: Afghanistan, Russia, United States, China, Kazakhstan
  • Author: Dermot Coates, Paul Anand, Michelle Norris
  • Publication Date: 01-2013
  • Content Type: Journal Article
  • Journal: Journal on Migration and Human Security
  • Institution: Center for Migration Studies of New York
  • Abstract: Housing is an important determinant of quality of life and migrants are more likely to encounter poor quality housing than natives. This paper draws on the capabilities approach to welfare economics to examine how issues of housing and neighborhood conditions influence quality of life and opportunities for migrants in Western Europe. The analysis utilizes data from the second European Quality of Life Survey (EQLS) to explore variation in life and housing satisfaction between migrants and non-migrants (natives) in Western Europe and whether being a migrant and living in an ethnically diverse neighborhood contribute to lower satisfaction. The results show that migrants are more likely to experience lower levels of life and housing satisfaction and that living in a diverse neighborhood is negatively associated with life and housing satisfaction. While diverse, inner-city neighborhoods can increase opportunities for labor market access, social services and integration, the tendency towards clustered settlement by migrants can also compound housing inequality. Conversely, migrant homeowners are on average substantially more satisfied with the quality of public services and of their neighborhood and have lower material deprivation than both migrant and non-migrant renters. The findings draw attention to the need to address housing and neighborhood conditions in order to improve opportunities for integration and well-being.
  • Topic: Economics
  • Political Geography: Europe
  • Author: Raúl Hinojosa-Ojeda
  • Publication Date: 01-2012
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: The U.S. government has attempted for more than two decades to put a stop to unauthorized immigration from and through Mexico by implementing "enforcement-only" measures along the U.S.-Mexico border and at work sites across the country. These measures have failed to end unauthorized immigration and have placed downward pressure on wages in a broad swath of industries.
  • Topic: Economics, Immigration
  • Political Geography: United States, Mexico
  • Author: David Rodin
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Ethics & International Affairs
  • Institution: Carnegie Council
  • Abstract: We are one humanity, but seven billion humans. This is the essential challenge of global ethics: how to accommodate the tension between our universal and particular natures. This tension is, of course, age-old and runs through all moral and political philosophy. But in the world of the early twenty-first century it plays out in distinctive new ways. Ethics has always engaged twin capacities inherent in every human: the capacity to harm and the capacity to help. But the profound set of transformations commonly referred to as globalization-the increasing mobility of goods, labor, and capital; the increasing interconnectedness of political, economic, and financial systems; and the radical empowerment of groups and individuals through technology-have enabled us to harm and to help others in ways that our forebears could not have imagined. What we require from a global ethic is shaped by these transformative forces; and global ethics-the success or failure of that project-will substantially shape the course of the twenty-first century.
  • Topic: Economics, Globalization, Politics
  • Author: Nick Robins
  • Publication Date: 07-2012
  • Content Type: Journal Article
  • Institution: Chatham House
  • Abstract: Nick Robins is head of the HSBC Climate Change Centre of Excellence
  • Topic: Economics
  • Publication Date: 07-2012
  • Content Type: Journal Article
  • Institution: Chatham House
  • Abstract: The US presidential election in November promises to be closely fought - and exceptionally raucous. Unprecedented amounts of money will be spent during the campaign, much of it on 'attack ads'. Here are five statistics to help sort out the issues from the noise.
  • Topic: Economics
  • Political Geography: Africa, United States, America, Washington
  • Author: Uki Goni
  • Publication Date: 07-2012
  • Content Type: Journal Article
  • Institution: Chatham House
  • Abstract: After nine years of stability, Argentina's president Cristina Fernández de Kirchner is off on an economic roller-coaster ride.
  • Topic: Economics
  • Political Geography: Argentina
  • Author: Patrick Johnston
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: International Security
  • Institution: Belfer Center for Science and International Affairs, Harvard University
  • Abstract: Targeting of militant leaders is central to many states' national security strategies, but does it work? What should policymakers expect when armed forces capture or kill militant leaders? Is leadership decapitation more likely to succeed or fail under certain conditions? These questions have never been more pressing than after the May 2011 killing of al-Qaida leader Osama bin Laden. As relevant as these questions are to current U.S. policy and strategy, they are also fundamental questions of asymmetric warfare. They matter because almost all policies of "high-value" targeting require difficult judgments concerning both the potential consequences and the opportunity costs of targeting militant leaders. The decision to target enemy leaders requires that policymakers adjudicate among numerous difficult, and potentially contradictory, choices. Leadership targeting strategies affect how states allocate scarce military, intelligence, and economic resources; how they construct their counterinsurgency or counterterrorism postures; and how interested foreign and domestic audiences react to their behavior.
  • Topic: Economics, Intelligence
  • Political Geography: United States
  • Author: Robert A. Pape
  • Publication Date: 07-2012
  • Content Type: Journal Article
  • Journal: International Security
  • Institution: Belfer Center for Science and International Affairs, Harvard University
  • Abstract: On March 18, 2011, President Barack Obama announced the U.S. government's commitment to an international military intervention in Libya, declaring, "We're protecting innocent civilians within Libya" from Muammar Qaddafi's forces to prevent "a humanitarian crisis." Within days, an international coalition of Western and Arab states launched air strikes that halted the Libyan government forces' offensive against the rebel stronghold of Benghazi and the roughly 2 million people living in the eastern region of the country. Within weeks, major international economic resources began ºowing to rebel-controlled areas to help strengthen their ability to remain independent from Qaddafi's control. Within months, Qaddafi's grip on the western portions of the country crumbled. Now, many policymakers and scholars recognize the Libyan mission as a significant success for international humanitarian intervention according to the main yardstick of saving many lives with no loss of life among the interveners.
  • Topic: Economics
  • Political Geography: United States, Libya
  • Author: Christopher Sabatini
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: Running down the list of the U.S. State Department's Latin America policy objectives in El País in September 2010, the economist Moisés Naím noted that they focused almost exclusively on domestic concerns: building democratic institutions, promoting local social and economic opportunity, and so forth. These issues were not only given a higher priority in policy toward Latin America than they were for other regions, but they were also issues largely beyond Washington's ability to control. Naím was correct, but the point can be taken further. The focus on politics within Latin American states rather than on relations between them is characteristic not simply of the State Department but also of the Latin American regional studies community in the United States more generally, from where the U.S. policy and advocacy community absorbs much of its personnel and intellectual orientation. Such attitudes have harmed U.S. policy by focusing excessive attention on small countries with little geostrategic influence and fostering the facile notion that political and economic liberalization are the necessary and sufficient criteria for the advancement of all major U.S. interests. This approach has distorted Washington's calculations of regional politics and hampered its ability to counter outside influences and deal sensibly with rising regional powers. U.S. scholars and policymakers need a reminder that development does not mean the end of politics and that twenty-first-century Latin America has its own, autonomous power dynamics. A little realism would go a long way. THAT '80S SHOW When it comes to Latin America, for decades U.S. universities and regional studies centers have focused almost exclusively on matters of comparative politics and political and economic development. In the 1970s and 1980s, the last time scholars paid much attention to the region's international relations, their chief concern was the workings and implications of U.S. hegemony. The issue facing both scholars and policymakers today, however, is what happens as U.S. power declines and new forces in the region emerge, and unfortunately, when it comes to these questions, there is little intellectual capital on which to draw.
  • Topic: Economics
  • Political Geography: United States, Latin America
  • Author: Fouad Ajami
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: Throughout 2011, a rhythmic chant echoed across the Arab lands: "The people want to topple the regime." It skipped borders with ease, carried in newspapers and magazines, on Twitter and Facebook, on the airwaves of al Jazeera and al Arabiya. Arab nationalism had been written off, but here, in full bloom, was what certainly looked like a pan-Arab awakening. Young people in search of political freedom and economic opportunity, weary of waking up to the same tedium day after day, rose up against their sclerotic masters.
  • Topic: Economics, Oil
  • Political Geography: America, Europe, Arabia
  • Author: C. Fred Bergsten
  • Publication Date: 10-2012
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: The euro's naysayers have it all wrong. True, the continent's powerhouses have yet to agree on a clear plan to save the common currency, as each one is seeking to secure the best deal for itself. But they all also know that the collapse of the eurozone would be a political and economic disaster, so they will ultimately pay whatever price is necessary to keep it together.
  • Topic: Economics
  • Author: Adam Tooze
  • Publication Date: 10-2012
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: With the euro in crisis, Germany has come to seem like a lone island of fiscal stability in Europe. Its debt levels are modest, its government bonds are safe havens for investors around the world, and it has avoided the kinds of private credit booms and housing bubbles that have destabilized the rest of the continent. The German economy, fueled by record exports, has grown steadily, expanding by a quarter over the last decade. But beneath the glowing headlines lies a darker story: Germany's economic position is simply unsustainable. For starters, much of its trade surplus has been earned at the expense of the corresponding current account deficits of the European countries in crisis. At the same time, this outsized surplus goes hand in hand with major imbalances within Germany's domestic economy. German businesses have invested their profits abroad, helping finance foreign imports. Meanwhile, as German money has flowed out of the country, domestic investment has languished at unprecedentedly low levels. Germany, like other rich, polluting, and aging countries, faces enormous long-term challenges. Its work force is shrinking, its energy sector needs to be remade, and its public infrastructure has gone too long without improvement. For all the talk of its financial strength, Germany has so far squandered the opportunity to secure long-term economic growth by addressing these challenges through badly needed domestic investments.
  • Topic: Economics
  • Political Geography: Europe, Germany
  • Author: Walter Lohman
  • Publication Date: 06-2012
  • Content Type: Journal Article
  • Journal: The Journal of International Security Affairs
  • Institution: Jewish Institute for National Security Affairs
  • Abstract: In the course of two months in the fall of 2011, the President and his administration—particularly the Secretary of State—conducted a political and diplomatic offensive to prove American staying power in Asia. It marked a 180-degree turn from where the White House had begun three years earlier. The fall offensive began with the long-awaited passage of the Korea-U.S. FTA (KORUS), an agreement of major economic importance. After years of accumulated opportunity costs, in October, the administration finally pushed the agreement forward and arranged for South Korean President Lee Myun-bak to be in Washington for the occasion of its passage. Secretary of State Hillary Clinton framed the new approach in her November “America's Pacific Century” speech, wherein she declared the Administration's “Asia Pivot.”1 President Obama gave the approach authority and economic substance at APEC, where the U.S. secured a game-changing commitment from Japan to join the Transpacific Partnership trade pact (TPP). The President then embarked on his third visit to the Asia Pacific. In Australia, he announced new training rotations of up to 2,500 U.S. Marines through Australia's northern shore, a move with obvious implications for the security of our allies and sea lanes, and in Indonesia, he became the first American president to participate in the East Asian Summit (EAS). At the EAS meeting of 18 regional leaders, President Obama raised the importance of maritime security and freedom of navigation and “expressed strong opposition to the threat or use of force by any party to advance its territorial or maritime claims or interfere in legitimate economic activity”—thereby tying American interests to regional concerns about China. For her part, Secretary Clinton headed to Manila to commemorate the 60th anniversary of the U.S.-Philippines Mutual Defense Treaty (MDT)—and then on to America's other treaty ally in Southeast Asia, Thailand. In Manila Bay, she signed a reaffirmation of the U.S.-Philippines MDT on the deck of a U.S. Navy destroyer and essentially declared America ready to “fight” for the Philippines. She also announced the dispatch to Manila of the second (of what will likely be four) refurbished coast guard cutters. En route to Indonesia, President Obama phoned long-suffering Burmese human rights icon Aung San Suu Kyi to get her blessing for a Burma visit from Secretary Clinton. Clinton arrived in Burma by the end of November, meeting Suu Kyi and the Burmese president and beginning a careful, “action for action” process of normalization that could have major implications for the U.S. strategic position in the region. The Chinese have long taken advantage of Burma's isolation from the U.S. If Burmese political reform proves to be real, it will offer an opportunity for the U.S. to reassert itself there. It will also remove a roadblock in America's relationship with the Association of Southeast Asian Nations (ASEAN) with which it has long disagreed on Burma. A democratic Burma would tip the scales in ASEAN—a hodgepodge of governing systems—in favor of democracy, a state of play that improves the sustainability of American engagement.
  • Topic: Security, Economics, Human Rights
  • Political Geography: Afghanistan, Japan, America, Washington, Asia, Australia, Korea
  • Author: Andrew K. Davenport
  • Publication Date: 12-2012
  • Content Type: Journal Article
  • Journal: The Journal of International Security Affairs
  • Institution: Jewish Institute for National Security Affairs
  • Abstract: Currently, America isn't seriously using economic warfare against our enemies. Here's how we can.
  • Topic: Economics
  • Political Geography: United States, America
  • Author: Danielle Tan
  • Publication Date: 09-2012
  • Content Type: Journal Article
  • Journal: Journal of Current Chinese Affairs
  • Institution: German Institute of Global and Area Studies
  • Abstract: During the colonial period, Laos welcomed the smallest overseas Chinese communities in Southeast Asia, communities that almost disappeared after the communist forces seized power in Laos in 1975. Yet, this landlocked country shares a long history with China and even experienced a Golden Age thanks to the thriving caravan trade between Yunnan and mainland Southeast Asia. The Greater Mekong Subregion initiative, a development programme launched by the Asian Development Bank, has revitalized these historical trade routes, causing thousands of Chinese migrants to pour onto the new roads of Laos, channelled through the North–South Economic Corridor linking Kunming to Bangkok. Depicted as “an army of ants” that plunders the natural resources of this poor country, these Chinese migrants are also the main drivers of development. The paper seeks to examine the specificity of China's engagement in Laos. I suggest that this small and forgotten country can provide insightful lessons to better understand the current changes taking place in Chinese migration worldwide.
  • Topic: Development, Economics
  • Political Geography: Southeast Asia, Laos
  • Author: Leila Hilal
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: The Arab revolts have resulted in deposed heads of state in Yemen, Libya, Egypt and Tunisia. Of these countries the latter two—Egypt and Tunisia—saw mass street protestors quickly topple entrenched autocrats without significant violence or foreign intervention. One year on, Egypt is still ruled by elements of the Mubarak regime with vested interests in the former order. It is also racked by political battles and economic troubles that are threatening its transition. Tunisia, on the other hand, is moving steadily closer toward a potential democratic consolidation. What explains the differences? This commentary discusses the prior institutional characteristics of the two countries. It then examines three areas of early transitional choices that contributed to Tunisia's progress and undermined Egypt's. In identifying lessons learned it makes the case that oppositional movements should avoid constitutional and institutional vacuums, establish broadly representative civilian-led transitional planning mechanisms, and follow appropriately-timed, transparent electoral sequencing.
  • Topic: Economics
  • Political Geography: Middle East, Libya, Yemen, Egypt, Tunisia
  • Author: Murat Yülek, Anthony Randazzo
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: A significant amount of research has already been made about the financial crisis. But a midterm primer is nevertheless necessary; it is critical to assess the nature of the crises to ensure that the proper lessons are learned. This article aims to present a history on the causes of the financial crisis that first emerged in the U.S. in 2007. Then it will analyze the roots of the current state of the economic crisis in Europe and the U.S. It will also assess the effects of the crises on the European and American economies. Consequently, a range of topics are discussed in the article, some of which have received deeper treatment elsewhere in economic literature, but have not been pieced together to provide a coherent past and present picture of the situation. The article concludes briefly on how this story relates to today's economic environment and the next steps that need to be taken going forward.
  • Topic: Economics, History
  • Political Geography: United States, America, Europe
  • Author: Dimitris Tsarouhas
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: This article argues that the origins of the Greek malaise are primarily political rather than economic and rooted in the delay, postponement, and half-hearted implementation of public policy reforms that preceded the crisis. The 2007-08 global economic crisis triggered market scrutiny over Greece, as it brought to an end a period of abundant liquidity and a relaxed attitude by global markets vis a vis Eurozone members. Greece's impossible fiscal position was brutally exposed, and a downward spiral began. The article also argues that although Greece set itself up for failure, the Eurozone's inability to act swiftly and early, to diagnose the problem correctly and to combine a policy mix consisting of budgetary consolidation and policy reform further exacerbated the problem. Despite the fact that disorderly default has been avoided and a sense of normalcy has returned, Greece has to move swiftly on the reforms front to avoid disaster.
  • Topic: Economics
  • Political Geography: Greece
  • Author: Bayram Sinkaya
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: This article examines Turkish Iranian relations in the 2000s, when the two countries initiated an unprecedented rapprochement. It argues that modification of foreign policy paradigms in Turkey and Iran led to the rationalization of bilateral relations that paved the way for improvement of economic and political ties between the two states. In addition to the rationalization, a supportive regional context helped them expand their relations. However, structural differences prevent the Turkish-Iranian rapprochement from turning into a strategic partnership. Moreover, restructuring of the regional context and rise of the specter of a conflictual relationship, which is still alive, threaten the future of Turkish-Iranian relations.
  • Topic: Foreign Policy, Economics
  • Political Geography: Iran, Turkey
  • Author: Çiğdem Üstün
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: The debate on the future of the Turkish-American partnership has puzzled scholars in recent years due to its constant fluctuations. In the first year of the Obama administration, the parties tried to heal relations with high level exchanges and a new conceptual framework to define the relationship. However, in 2010 the discord between the US and Turkey on major policy issues, including Iran and relations with Israel, once again strained bilateral relations. With the Arab Spring, the pendulum swung once again. Since the eruption of the people's movement in different parts of the Middle East, Turkey and the US have acted in coordination, and taken similar positions in debates in international forums. The Obama administration announced a new Asia- Pacific strategy, which will entail the concentration of its diplomatic, military, and economic resources to build partnerships and curb emerging threats in this region. This new doctrine may have a major impact on US relations with Turkey by opening up new opportunities for cooperation and new necessities to deepen the partnership.
  • Topic: Security, Economics
  • Political Geography: United States, America, Turkey, Middle East, Asia-Pacific
  • Author: Abdurrahim Sıradağ
  • Publication Date: 11-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: This article explores the causes and dynamics impacting the development of the EU's security policy on Africa. The changing global structure in Africa has influenced the EU's foreign and security policy in Africa. The new global actors, such as China, India, Brazil, and Turkey have recently consolidated their political and economic relations with both African states and organisations with an impact on the EU's approach to the continent. At the same time, the new challenges, like international terrorism and immigration, also left their mark on the EU's policy in Africa. This article argues that the EU members' economic interests have played a central role in developing the EU's security policy towards Africa. Meanwhile, the new global threats and challenges and the emergence of new actors in Africa have also had an impact on the formulation and implementation of the EU's security policy in Africa.
  • Topic: Development, Economics, Terrorism
  • Political Geography: Africa, China, Europe, Turkey, India, Brazil
  • Author: Jeffrey C. Dixon
  • Publication Date: 11-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: Is Europe converging in terms of policy development? How has the global financial crisis affected this and policy development in Europe more generally? What policy differences exist between European Union (EU) member states and other European countries? These and other questions posed in this volume are largely motivated by an attempt to understand the implications of the EU's Lisbon Strategy, which the editor, Ipek Eren Vural, defines as “a medium term development plan to facilitate transformation of the European economy, and to coordinate the economic and social policies at the national level” (p. 2). On the basis of this strategy and the Open Method of Coordination (OMC), or “governance tool” to pursue the economic and social “pillars” of the strategy (p. 2), there is reason to expect some convergence in Europe. Focusing primarily on the abovementioned social pillar within what Vural labels as institutional, intergovernmentalist, and neo-Gramscian frameworks in her introduction, this volume explores a wide range of issues/policies, including (un-) employment, poverty, flexicurity, pensions, welfare states, and gender equality. Drawing on time-series data from Eurostat as well as other data sources, the contributors generally find that the Lisbon Strategy was not successful in achieving its social policy aims; it was also undermined by the global financial crisis. There has been some policy convergence in Europe, but this varies by the type of convergence, the time period examined, and the specific policy domain. This review will briefly summarize and analyze the parts of this book and conclude with some final thoughts about the volume as a whole.
  • Topic: Development, Economics
  • Political Geography: Europe, Turkey
  • Author: Ahmet T. Kuru
  • Publication Date: 11-2012
  • Content Type: Journal Article
  • Journal: Insight Turkey
  • Institution: SETA Foundation for Political, Economic and Social Research
  • Abstract: One may argue three law-like generalizations in political science: “no bourgeois, no democracy,” “democracies do not go to war with each other,” and “natural resources are a curse.” Although each of these highly contested arguments is important, the last one has the broadest impact—the negative effects of oil, natural gas, and mineral production go beyond authoritarianism and have economic, military, and societal consequences. Recently, some important publications have challenged the “resource curse” argument, creating doubts about these negative effects. In this regard, Michael Ross's book is an extremely timely work. It not only responds to these critiques but also provides a consistent set of explanations about oil and its effects on authoritarianism, patriarchy, inter-state and civil wars, and economic underdevelopment. Ross has already written path-breaking articles on these issues and this magnum opus brings together his previous contributions with updated data, revised arguments, and fresh perspectives. Unlike his earlier publications, Ross's analysis focuses on oil and natural gas, sometimes referring to both as only “oil,” and consistently leaves mineral production aside. His data show how the importance of oil will persist, if not increase, in the near future: “the global market for oil and other liquid fuels will rise from 86.1 million barrels a day in 2007 to 110 million barrel a day in 2035; the market for natural gas will rise from 108 to 156 trillion cubic feet” (p. 251).
  • Topic: Civil War, Development, Economics, Oil
  • Political Geography: Middle East, North Africa
  • Author: Peter Draper
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Support for regional economic integration in Africa runs high amongst the continent's international development partners and African elites. However, its expression in European forms of economic integration is not appropriate to regional capacities and in some cases may do more harm than good. This lacuna is exacerbated by technical and theoretical analyses rooted either in economics or international relations literature. This article sets out to reconceptualise the foundations of African economic integration by reviewing key debates within each literature and comparing the results across disciplinary boundaries. Overall, it is concluded that a much more limited approach is required, one that prioritises trade facilitation and regulatory cooperation in areas related primarily to the conduct of business; underpinned by a security regime emphasizing the good governance agenda at the domestic level. Care should be taken to design the ensuing schemes in such a way as to avoid contributing to major implementation and capacity challenges in establishing viable and legitimate states. In doing so, the presence of regional leaders with relatively deep pockets - South Africa in the Southern African case - points to the imperative of building such limited regional economic arrangements around key states.
  • Topic: Development, Economics, Governance
  • Political Geography: Africa, Europe, South Africa
  • Author: Magnus Killander
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Despite the lofty objectives set out in the treaties of African intergovernmental organisations, such as the African Union, ECOWAS, SADC and the East African Community, legal harmonisation in Africa is still underdeveloped. Apart from a push towards harmonisation in the protection of human rights and the environment, mainly driven by a global agenda, some progress has been made with regard to legal harmonisation linked to economic integration at the sub-regional level. However, the process is slow and measures to ensure implementation of agreed norms at the national level and ensure consistent interpretation are still underdeveloped. This is illustrative of the lack of political will and the big gap between political rhetoric and reality on the African continent.
  • Topic: Economics
  • Political Geography: Africa
  • Author: David Camroux
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Revolving around the concept of 'Community' or 'community', debate on an Asian region has ostensibly pitted those who proposed an entity limited to East Asia (China, Japan, South Korea and the ten countries of the Association of South East Asian Nations, ASEAN) against those who proposed a much wider region embracing India, North (and, perhaps, South) America, as well as Australasia. Previously these two conceptualisations possessed their eponymous translation in the East Asian Economic Caucus (reincarnated as ASEANþ3) and the Asia Pacific Economic Cooperation forum. However, with the creation in 2005 of the East Asian Summit to include India, Australia and New Zealand and, above all, its 2011 enlargement to include the United States and Russia, the contrast between the two conceptualisations of an Asian region has become confused. In order to explain this development, this article suggests that the language of 'region' or 'community' is a discursive smokescreen disguising changes in approaches to multilateralism. An examination of the East Asia Summit, contrasting it with another recent regional project, the Trans Pacific Partnership, suggests that the actors involved are seeking to ensure the primacy of individual nation states in intergovernmental multilateral relations.
  • Topic: Development, Economics
  • Political Geography: China, America, India, East Asia, Asia, Australia
  • Author: Andrés Malamud, Gian Gardini
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Since 1960, Latin American attempts at regionalism have undergone distinct phases. More notably, they have tended to diverge across space, gradually giving birth to separate blocs that seem to be tearing South, Central and North America apart. Additionally, within and across these regions several overlapping projects coexist. This article focuses on the dynamics of segmented and overlapping regionalism in order to describe what they look like, analyse how they articulate with one another, and explain why member states have pushed for such a messy outcome. This situation, linked to the evolution of the global context, might be indicating that regionalism in Latin America has reached its peak, beyond which it may be difficult to achieve further progress. Two conclusions are elicited: first, economic integration is becoming a geographically diffused phenomenon rather than a regional one; second, regionalism is still a compelling foreign policy but its causes, goals and outcomes are no longer what they used to be.
  • Topic: Foreign Policy, Economics
  • Political Geography: Latin America, North America
  • Author: Marco Pinfari
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Since 1960, Latin American attempts at regionalism have undergone distinct phases. More notably, they have tended to diverge across space, gradually giving birth to separate blocs that seem to be tearing South, Central and North America apart. Additionally, within and across these regions several overlapping projects coexist. This article focuses on the dynamics of segmented and overlapping regionalism in order to describe what they look like, analyse how they articulate with one another, and explain why member states have pushed for such a messy outcome. This situation, linked to the evolution of the global context, might be indicating that regionalism in Latin America has reached its peak, beyond which it may be difficult to achieve further progress. Two conclusions are elicited: first, economic integration is becoming a geographically diffused phenomenon rather than a regional one; second, regionalism is still a compelling foreign policy but its causes, goals and outcomes are no longer what they used to be.
  • Topic: Economics
  • Political Geography: Libya, Arabia, Latin America, North Africa, Egypt, Tunisia
  • Author: Claudia Astarita, Dario Sabbioni, Maria Chiara Slucca, Lorenzo Vai
  • Publication Date: 12-2012
  • Content Type: Journal Article
  • Journal: The International Spectator
  • Institution: Istituto Affari Internazionali
  • Abstract: Discussing China's approach to global warming is not an easy task. Beijing's attitude to this sensitive issue has often appeared confusing. Alessandro Gobbicchi's book, which tries to retrace what the People's Republic has been thinking, doing and achieving in this context over the last three decades, is therefore a welcome tool.
  • Topic: Economics
  • Political Geography: China
  • Author: Roger Karapin
  • Publication Date: 10-2012
  • Content Type: Journal Article
  • Journal: German Politics and Society
  • Institution: German Politics and Society Journal
  • Abstract: Germany has reduced its emissions of greenhouse gases more than almost any other industrialized democracy and is exceeding its ambitious Kyoto commitment. Hence, it is commonly portrayed as a climate-policy success story, but the situation is actually much more complex. Generalizing Germany's per-capita emissions to all countries or its emissions reductions to all industrialized democracies would still very likely produce more than a two-degree rise in global temperature. Moreover, analyzing the German country-case into eleven subcases shows that it is a mixture of relative successes and failures. This analysis leads to three main conclusions. First, high relative performance and high environmental damage can coexist. Second, we should see national cases in a differentiated way and not only in terms of their aggregate performances. Third, researchers on climate policies should more often begin with outcomes, work backward to policies, and be prepared for some surprises. Ironically, the most effective government interventions may not be explicit climate policies, such as the economic transformation of eastern Germany. Moreover, the lack of policy-making in certain areas may undercut progress made elsewhere, including unregulated increases in car travel, road freight, and electricity consumption. Research on climate and environmental policies should focus on somewhat different areas of government intervention and ask different questions.
  • Topic: Economics
  • Political Geography: Germany
  • Author: Ethan Wagner
  • Publication Date: 12-2012
  • Content Type: Journal Article
  • Journal: Journal of International Affairs
  • Institution: School of International and Public Affairs, Columbia University
  • Abstract: The Money Laundry: Regulating Criminal Finance in the Global EconomyJ.C. Sharman(Ithaca: Cornell University Press), 224 pages.
  • Topic: Economics
  • Political Geography: United States
  • Author: Richard Salsman
  • Publication Date: 03-2012
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: Despite its many errors, contemporary academic economics has improved considerably in recent decades, especially after the Keynesian detour of interventionism from the 1930s to the 1970s. There is a lagged influence between academic economics and public policy, but increasingly since the 1970s academic economists have recognized that free markets work, that “market failure” reflects poorly defined and ill-protected property rights, and that boom-bust cycles and sapped prosperity are consequences of bad public policies.
  • Topic: Economics
  • Political Geography: Israel
  • Author: Craig Biddle
  • Publication Date: 06-2012
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: Because of its seemingly prophetic nature with respect to current events, Ayn Rand's 1957 novel Atlas Shrugged is receiving more attention today and selling at greater volume today than it did when it was first published fifty-five years ago. That's a good thing, because the ideas set forth in Atlas are crucial to personal happiness, social harmony, and political freedom.
  • Topic: Economics
  • Political Geography: America
  • Author: Ari Armstrong
  • Publication Date: 12-2012
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: Stop letting the enemies of capitalism claim the moral high ground. There is nothing noble about altruism, nothing inspiring about the initiation of force, nothing moral about Big Government, nothing compassionate about sacrificing the individual to the collective. Don't be afraid to dismiss those ideas as vicious, unjust attacks on the pursuit of happiness, and self-confidently assert that there is no value higher than the individual's pursuit of his own well-being.
  • Topic: Economics, Government
  • Political Geography: America
  • Publication Date: 12-2012
  • Content Type: Journal Article
  • Journal: The Objective Standard
  • Institution: The Objective Standard
  • Abstract: I was disappointed by Richard Salsman's review of Northrup Buechner's Objective Economics [TOS, Spring 2012]. It was not so much a review as it was a putdown of Dr. Buechner and his knowledge of economics, its history, and accepted laws. (By the way, there is no law of supply and demand as such in economics.) The list of things Dr. Buechner is criticized for doing, or not doing, seemed to go on endlessly.
  • Topic: Economics
  • Author: Nicolas Klein
  • Publication Date: 06-2012
  • Content Type: Journal Article
  • Journal: The Goettingen Journal of International Law
  • Institution: The Goettingen Journal of International Law
  • Abstract: Legal research conceptualized the relationship between International Investment Law (IIL) and International Human Rights Law (IHRL) until recently rather as opposing fields of law with colliding policy interests as well as contradictory rules and regulations. However, lately a new approach is gaining increasing support in the academic community: Investment protection could be understood as being part of human rights law. Such a conclusion may be perceived as highly controversial, however, from a conceptual perspective IIL and IHRL share more common ground than differences. This article will argue, first, that certain material standards of IIL can be conceptualized to be human rights-like guarantees of a minimum standard of protection and second, that such an understanding does not lead to a neoliberal proliferation of economic rights but, to the contrary, may serve as an important conceptual tool to prevent overly extensive interpretations of investment treaties and to balance economic rights with other human rights in case of norm conflict. After all, IIL could prove to be not more, but also not less, than “One Out of a Crowd” of all other fundamental human rights.
  • Topic: Economics, Human Rights, International Law
  • Political Geography: Pakistan, Germany, Guinea
  • Author: Herman Voogsgeerd
  • Publication Date: 06-2012
  • Content Type: Journal Article
  • Journal: The Goettingen Journal of International Law
  • Institution: The Goettingen Journal of International Law
  • Abstract: Traditionally, fundamental human rights have occupied an important place in labor law. The ILO constitution of 1919 focuses, for example, on the right of freedom of association. Subsequent ILO documents stress other fundamental rights such as the right to non-discrimination in the field of labor. The fundamental rights of the worker did begin to get some attention in the EU too, especially in non-binding documents such as the Community Charter of the Rights of the Worker from 1989. Since the entry into force of the Treaty of Lisbon in 2009, the Charter of Fundamental Rights introduced at the summit in Nice is legally binding to the same extent as the EU Treaty itself. The Charter includes fundamental rights in the field of labor law under the heading 'solidarity'. In this article two basic questions will be addressed. The first question will address the 'old' issue of the clash between fundamental (labor) rights and the four economic freedoms of the EU, which are seen by the ECJ as of fundamental nature as well. Since the seminal cases of Viking and Laval, a lot has been written about this theme by both European and labor lawyers. I will not revisit the literature that has been written about these cases, but the more dogmatic issue of a (potential) clash between the four economic freedoms and the fundamental rights is still in need of clarification. The second question is whether the fundamental human rights will get a more important place in the case law of the European Court of Justice now that the Charter of Fundamental Rights is of binding character, or, will there be just a continuation of the already developed relationship between fundamental freedoms and rights or between two different kind of fundamental human rights? I will focus here on case law in the field of labor law. The article will finish with a plea for a proportionality test 'light' in order to limit the interference of EU law with the essence of fundamental rights.
  • Topic: Economics, Human Rights, Law
  • Political Geography: Europe
246. Response
  • Author: Jean-Pierre Karegeye
  • Publication Date: 05-2012
  • Content Type: Journal Article
  • Journal: Macalester International
  • Institution: Macalester College
  • Abstract: The movie Slumdog Millionaire (2008), adapted from Vikas Swarup's 2005 novel Q A, tells the story of Jamal Malik, a vulnerable orphan and street boy exposed to the misery of the world: extreme poverty, disease, lack of education, violence, murder, prostitution in Cherry Street, police brutality, and other misfortunes. Very painful images, but not without promise and determination, show Jamal at five years old, covered in excrement, succeed in reaching the Indian movie star, Amitabah, and receive an autograph. When Jamal starts playing and winning “Who Wants to be a Millionaire,” Sergeant Srinivas and other policemen torture Jamal because they cannot understand how this vulnerable lost child is winning the game. Their conclusion: he must be cheating. The film places us into the dialectic of vulnerability and promise. What we can take from it is that the well-being of a child is not a private affair. It is linked to the order of the economic and the political, with these two words understood in their etymological sense. The fact of being on orphan evokes the oikos and miserable life in the streets, as well as the cops' response referring to the order of the polis. Jamal Malik's exceptional achievement raises the question of how is this possible? What is the correct answer among the four choices in the film: he cheated, he's lucky, he's a genius, it is destiny? There is a risk of celebrating the idea of heroism in Jamal Malik's character and forgetting the call to protect vulnerable children. Any promise is inscribed in a societal project that creates conditions of possibility for the protection and success of children. Tonderai Chikuhwa, senior advisor at the United Nations, discusses the Roundtable theme of “Children of the World: The Dialectic of Promise and Vulnerability” by focusing on particular situations of children involved in armed conflict and he evokes concrete actions/operations by the United Nations to protect such “child soldiers.” The well-being of children has been defined as a “categorical imperative” for the realization of planetary peace and security, which therefore calls for actions from the United Nations Security Council.
  • Topic: Economics, Political Economy
  • Political Geography: United Nations
  • Author: Lina Klymenko
  • Publication Date: 04-2012
  • Content Type: Journal Article
  • Journal: Central European University Political Science Journal
  • Institution: Central European University
  • Abstract: Since the collapse of the Soviet Union, Russia's transformation has been an object of study by scholars of transition studies. The challenges of political, economic, and nation-building processes occurring in post-Soviet Russia have sparked numerous scholarly debates, and with the comeback of Russia in international politics, the interest of scholars in the societal and political developments of that country became even more pronounced. Michael's Urban recent book contributes to the body of existing scholarly literature on Russia's post-Soviet transformation and, due to its alternative conceptual framework, the book presents an interesting and thought-provoking study of the Russian society and politics.
  • Topic: Economics
  • Political Geography: Russia
  • Author: Dani Rodrik
  • Publication Date: 05-2012
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: To lift their people out of poverty, nations need to enter the global economy.
  • Topic: Economics, Education, Government
  • Political Geography: Japan, China, Asia
  • Author: Hauke Hartmann, Daniel Schraad-Tischler
  • Publication Date: 05-2012
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: When do inequality and economic frustration erupt into political turmoil?
  • Topic: Economics, Politics
  • Political Geography: Russia, Bahrain, Slovakia
  • Author: Nora Lustig
  • Publication Date: 05-2012
  • Content Type: Journal Article
  • Journal: Americas Quarterly
  • Institution: Council of the Americas
  • Abstract: It's time to measure the income share of Latin America's super-rich.
  • Topic: Development, Economics, Government
  • Political Geography: United States, Canada, Argentina, Latin America