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53541. Shoring Up Military Readiness

Author:
Michael E. OHanlon and Jerre Wilson
Publication Date:
12-1998
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
Today's U.S. military is about one-third smaller and one-third less expensive than it was at the end of the Cold War. Even so, on a unit-by-unit basis it is as good as the U.S. armed forces of Ronald Reagan's presidency. It is far from hollow; its readiness to carry out a wide range of operations from warfighting to peacekeeping to deterrence remains quite good on the whole.
Topic:
Security and Defense Policy
Political Geography:
United States

53542. Role of the Private Sector: Study Group

Author:
Virginia Haufler
Publication Date:
11-1998
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The study group addressed four topics: the definition of what we are examining; whether it is a new phenomenon; some of the factors driving it; and the concerns it raises. The goal at this meeting was to set the context for further discussion at the next meeting. Participants stressed that this is an important topic and a timely project. Please note that this summarizes the main points and imposes a certain order on what was in reality a wide-ranging discussion.
Topic:
International Relations, Globalization, Government, and International Political Economy

53543. After the Crisis: The Social Contract and the Middle Class in East Asia

Author:
Nancy Birdsall and Stephan Haggard
Publication Date:
01-1998
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
The Asian financial crisis put in bold relief two big differences between the Asian and the Western economies. One has been hotly contested, while the other has been virtually ignored.
Topic:
Economics and Emerging Markets
Political Geography:
Israel and East Asia

53544. Does U.S. Intervention Overseas Breed Terrorism?: The Historical Record

Author:
Ivan Eland
Publication Date:
12-1998
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
According to Secretary of State Madeleine Albright, terrorism is the most important threat the United States and the world face as the 21st century begins. High-level U.S. officials have acknowledged that terrorists are now more likely to be able to obtain and use nuclear, chemical, and biological weapons than ever before.
Topic:
Foreign Policy and Terrorism
Political Geography:
United States

53545. The Case for a Russian Currency Board System

Author:
Steve H. Hanke
Publication Date:
10-1998
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The devaluation of the Russian ruble this year was predictable, especially considering Russia's poor monetary history. State-manipulated money has been a Russian hallmark since the time of Peter the Great and shows that the country's money problems are endemic and do not depend on who controls the central bank. Czarist, Soviet, and post-Soviet governments have used the central bank printing press to finance deficit spending, resulting in high inflation, confiscation of savings, capital controls, or a combination of the three.
Topic:
Economics and International Political Economy
Political Geography:
Russia, Europe, Asia, and Soviet Union

53546. Time to Terminate the ESF and the IMF

Author:
Anna J. Schwartz
Publication Date:
08-1998
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The International Monetary Fund and the U.S. Treasury Department's Exchange Stabilization Fund are undemocratic institutions unaccountable for their actions. Their current functions have little to do with their original missions. The ESF is used by the executive branch to circumvent Congress in the provision of foreign aid. Its foreign exchange interventions have, in any event, always been wasteful and ineffective at controlling the relative price of the U.S. dollar. The IMF has also been used to provide massive bailouts in the cases of Mexico in 1995 and of Asian countries since 1997. Defenders of the IMF as an international lender of last resort are misinformed since the IMF does not and cannot serve that purpose. Both institutions should be abolished, not reformed, because they are not needed to resolve currency crises and they preclude superior solutions.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
United States, Asia, and Mexico

53547. Perspectives From Four Continents: Solving the Global Public Pensions Crisis

Author:
Cato Institute
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
On December 8-9 the Cato Institute and The Economist cosponsored a conference on the global public pensions crisis at the Queen Elizabeth II Conference Centre in London. Among the speakers were Michael Tanner, director of the Cato Project on Social Security Privatization; Clive Crook, deputy editor of The Economist; Carlos Boloña, former finance minister of Peru; Mukul Asher of the University of Singapore; and Peter Ferrara, chief economist at Americans for Tax Reform and an associate policy analyst at the Cato Institute. Excerpts from their remarks follow.
Topic:
Economics, Government, and International Political Economy
Political Geography:
London

53548. America's Maligned and Misunderstood Trade Deficit

Author:
Daniel T. Griswold
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
America's annual trade deficit, already large by historical standards, could reach a new record in 1998, fueling protectionist sentiment in Congress. Political fallout from the trade deficit numbers could impede efforts to reduce barriers to trade in the United States and abroad. Contrary to popular conception, the trade deficit is not caused by unfair trade practices abroad or declining industrial competitiveness at home. Trade deficits reflect the flow of capital across international borders, flows that are determined by national rates of savings and investment. This renders trade policy an ineffective tool for reducing a nation's trade deficit.
Topic:
Economics and Political Economy
Political Geography:
United States

53549. The Specter of Pervasiveness: Pacifica, New Media, and Freedom of Speech

Author:
Jonathan D. Wallace
Publication Date:
02-1998
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Under the legal doctrine of pervasiveness, media such as television and radio get much less protection from censorship than do print media. The Supreme Court should reject the pervasiveness doctrine as a dangerously broad and vague excuse for speech regulation. If the doctrine applies to any medium, it could arguably apply to all media. The pervasiveness doctrine thus threatens to curtail the First Amendment's protection of freedom of speech.
Topic:
Government, Industrial Policy, Political Economy, and Science and Technology

53550. Europarliament and Environmental Leglislation: The Case of Chemicals

Author:
George Tsebelis and Anastassios Kalandrakis
Publication Date:
07-1998
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
The paper studies the impact of the EP on legislation on chemical pollutants introduced under the Cooperation procedure. A series of formal and informal analyses have predicted from significant impact of the EP, to limited impact (only in the second round) to no impact at all. Through the analysis of Parliamentary debates as well as Commission and Parliamentary committee documents, we are able to assess the significance of different amendments, as well as the degree to which they were introduced in the final decision of the Council. Our analysis indicates first that less than 30% of EP amendments are insignificant, while 15% are important or very important; second, that the probability of acceptance of an amendment is the same regardless of its significance. Further analysis indicates two sources of bias of aggregate EP statistics: several amendments are complementary (deal with the same issue in different places of the legal document), and a series of amendments that are rejected as inadmissible because they violate the legal basis of the document or the germainess requirement) are included in subsequent pieces of legislation. We calculate the effect of these biases in our sample, and find that official statistics underestimate Parliamentary influence by more that 6 percentage points (49% instead of 56% in our sample). Finally, we compare a series of observed strategic behaviors of different actors (rapporteurs, committees, floor, Commission) to different expectations generated by the literature.
Topic:
Environment, Industrial Policy, and Political Economy
Political Geography:
Europe