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  • Author: Joshua Meltzer
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: This paper is about the potential of the Internet as a platform for international trade. A traditional understanding of the impact of the Internet on commerce is derived from the dot.com experience of the 1990s, where Internet companies such as Pets.com and Amazon sold goods online. Since then, the impact of the Internet on commerce has grown and changed. Certainly, the ability to sell goods online remains important. However, the key development is that the Internet is no longer only a digital storefront. Instead, the Internet as described in this working paper is a platform for businesses to sell to customers domestically and overseas, and is a business input that increases productivity and the ability of businesses to compete. Understanding the Internet as a platform for trade highlights its broad economic potential. It emphasizes how the commercial opportunities are no longer limited to Internet companies, but are now available for businesses in all sectors of the economy, from manufacturing to services. Moreover, the global nature of the Internet means that these opportunities are no longer limited to domestic markets, but are embraced wherever Internet access is available.
  • Topic: Economics, International Trade and Finance, Markets, Science and Technology, Communications
  • Political Geography: Africa, United States, Europe
  • Author: Carol Graham
  • Publication Date: 01-2014
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: The United States has long been viewed as the "land of opportunity," where those who work hard get ahead. Belief in this feature of American national identity has persisted even though inequality has been rising for de¬cades. In recent years, the trend toward extremes of income and wealth has accelerated significantly, owing to demographic shifts, the skills bias of the economy and fiscal policy. From 1997 to 2007, the share of income accru¬ing to the top 1 percent of U.S. households increased by 13.5 percentage points, which is equivalent to shifting $1.1 trillion in total annual income to this group - more than the total income of the bottom 40 percent of households. The precise impact of inequality on individual well-being remains controversial, partly because of the complex nature of the metrics needed to gauge it accurately, but also because why it matters depends on what it signals. If inequality is perceived to be the result of just reward for individual effort, then it can be a constructive signal of future opportunities. However, if it is perceived to be the result of an unfair system that rewards a privileged few, inequality can undermine incentives to work hard and invest in the future. In this sense, current U.S. trends have been largely destructive. Economic mobility, for example, has declined in recent decades and is now lower than in many other industrialized countries. There is also a strong intergenerational income correlation (about 0.5) in the U.S.; children of parents who earn 50 percent more than the average are likely to earn 25 percent above the average of their generation. In a world in which individuals' fates are increasingly linked and effective gover¬nance depends on some kind of consensus on social and distributive justice norms, growing income differentials in one country - especially one that has long served as a beacon of economic opportunity - can affect behavior elsewhere, both in terms of investments in education and the labor market and the propensity to protest. More generally, declining economic mobility in the U.S. could undermine confidence in the principles of market econo¬mies and democratic governance that America has espoused for decades - principles that are fundamental to many countries' development strategies.
  • Topic: Economics, Poverty, Social Stratification, Labor Issues
  • Political Geography: United States, Germany
  • Author: Mauricio Cá¡rdenas, Joshua Meltzer
  • Publication Date: 07-2011
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: A trio of trade agreements now pending before Congress would benefit the United States both economically and strategically. Carefully developed accords with South Korea, Colombia and Panama will boost U.S. exports significantly, especially in the key automotive, agricultural and commercial services sectors. Among the other benefits are: increased U.S. competitiveness enhancement of U.S. diplomatic and economic postures in East Asia and Latin America new investment opportunities better enforcement of labor regulation and improved transparency in these trading partners' regulatory systems.
  • Topic: Diplomacy, Economics, International Trade and Finance, Treaties and Agreements, Labor Issues
  • Political Geography: Kenya, United States, Israel, Colombia, Latin America
  • Author: Robert Mosbacher, Jr.
  • Publication Date: 05-2010
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: To tackle global poverty, it is essential to craft a new and dynamic approach to economic development that refl ects the realities of a 21st century global economy and incorporates the participation of a wide variety of new players, particularly from the private sector. While investment, trade and innovation all represent basic components of building healthy economies, this paper focuses primarily on strategies to increase both in-country and international private capital investment in order to create jobs. To that end, it concentrates on two areas: strengthening and reforming the existing structures, coordinating mechanisms and policies that support U. S. economic development efforts; and improving public-private partnership models to promote broader fi nancing to local businesses, greater human capital support and technical assistance and improved physical and ICT infrastructure.
  • Topic: Foreign Policy, Development, Economics, Emerging Markets, Poverty, Third World
  • Political Geography: United States
  • Author: William A. Galston
  • Publication Date: 06-2010
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: When experts and pundits are asked what the president and Congress should do to promote economic growth, they typically respond with a list of policies, often mixed with stylistic and political suggestions. Few focus on institutional change, which is too easy to conflate with yawn-inducing “governmental reorganization.”
  • Topic: Economics, Financial Crisis
  • Political Geography: United States
  • Author: Grover J. (Russ) Whitehurst
  • Publication Date: 06-2010
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: A nation's education system is a pillar of its economic strength and international competitiveness. The National Bureau of Economic Research analyzed data from 146 countries, collected between 1950 and 2010, and found that each year of additional average schooling attained by a population translates into at least a two percent increase in economic output. A 2007 World Bank policy research working paper reported similar results. Based on these findings, if the United States increased the average years of schooling completed by its adult population from the current 12 years to 13 years—that is, added one year of postsecondary education—our gross domestic product would rise by more than $280 billion.
  • Topic: Economics, Education
  • Political Geography: United States
  • Author: Martin Neil Baily, Karen Dynan, Douglas J. Elliott
  • Publication Date: 06-2010
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: As the nation strives to recover from the “Great Recession,” job creation remains one of the biggest challenges to renewed prosperity. Small businesses have been among the most powerful generators of new jobs historically, suggesting the value of a stronger focus on supporting small businesses— especially high-growth firms—and encouraging entrepreneurship. Choosing the right policies will require public and private decision-makers to establish clear goals, such as increasing employment, raising the overall return on investment, and generating innovations with broader benefits for society. Good mechanisms will also be needed for gauging their progress and ultimate success. This brief examines policy recommendations to strengthen the small business sector and provide a platform for effective programs. These recommendations draw heavily from ideas discussed at a conference held at the Brookings Institution with academic experts, successful private-sector entrepreneurs, and government policymakers, including leaders from the Small Business Administration. The gathering was intended to spur the development of creative solutions in the private and public sectors to foster lasting economic growth.
  • Topic: Economics, Financial Crisis
  • Political Geography: United States
  • Author: Alan Abramowitz, Ruy Teixeira
  • Publication Date: 04-2008
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: Dramatic shifts have taken place in the American class structure since the World War II era. Consider education levels. Incredible as it may seem today, in 1940 three-quarters of adults 25 and over were high school dropout s (or never made it as far as high school), and just 5 percent had a four-year college degree or higher. But educational credentials exploded in the postwar period. By 1960, the proportion of adults lacking a high school diploma was down to 59 percent; by 1980, it was less than a third, and by 2007, it was down to only 14 percent. Concomitantly, the proportion with a BA or higher rose steadily and reached 29 percent in 2007. Moreover, those with some college (but not a four-year degree) constituted another 25 percent of the population, making a total of 54 percent who had at least some college education 1 . Quite a change: moving from a country where the typical adult was a high school dropout (more accurately, never even reached high school) to a country where the typical adult not only has a high school diploma, but some college as well.
  • Topic: Civil Society, Demographics, Economics
  • Political Geography: United States
  • Author: R. Kent Weaver
  • Publication Date: 06-2008
  • Content Type: Policy Brief
  • Institution: The Brookings Institution
  • Abstract: Efforts by President George W. Bush to promote major reforms in the Social Security retirement program have not led to policy change, but rather to increased polarization between the two parties. And the longer we wait to address Social Security's long-term funding problem, the bigger and more painful the changes will need to be.
  • Topic: Economics, Government, Politics
  • Political Geography: United States
  • Author: Lael Brainard
  • Publication Date: 02-2008
  • Content Type: Working Paper
  • Institution: The Brookings Institution
  • Abstract: Compiled by Brookings Institution experts, this chart is part of a series of issue indices to be published during the 2008 Presidential election cycle. The policy issues included in this series were chosen by Brookings staff and represent the most critical topics facing America's next President. Available voting records and statements vary based on time in office. For candidates who have not been a Member of Congress, public statements are noted when available.
  • Topic: Economics, International Trade and Finance, Politics
  • Political Geography: United States, America