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2. Throwing Down the Gauntlet
- Author:
- Carol Bellamy
- Publication Date:
- 03-2013
- Content Type:
- Journal Article
- Journal:
- World Policy Journal
- Institution:
- World Policy Institute
- Abstract:
- President Barack Obama has thrown down the gauntlet with his call for "a better way to welcome the striving, hopeful immigrants who still see America as a land of opportunity." It's a bold move for a mainstream politician. Across the world, and particularly in rich countries that are bobbing in the wake of the global financial crisis, politicians are running scared on immigration. Catcalls about immigrants sound especially tuneless here in the United States, where some 40 percent have at least one ancestor who arrived at Ellis Island between 1892 and 1954. Indeed, the wealth of this country has been built by risk-takers who had the courage to launch themselves into the unknown.
- Topic:
- Financial Crisis
- Political Geography:
- United States, America, Germany, and Island
3. How Can Trade Policy Help America Compete?
- Author:
- Robert Z. Lawrence
- Publication Date:
- 10-2012
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- America deserves credit for not having succumbed to the global financial crisis by repeating the protectionist mistakes of the 1930s. Nonetheless, since 2007, although lip service has been paid to boosting US exports, its trade policy accomplishments have been modest. This is unfortunate because active trade policies can promote American living standards and facilitate America's return to full employment and sustained growth. These policies can also help to create a global trade order that advances American interests. This policy brief argues that the United States needs new initiatives that discipline foreign practices, increase access to foreign markets, revitalize the World Trade Organization (WTO), improve the administrative and regulatory environment for trade, and assist workers and communities adversely affected by change.
- Topic:
- Economics, Globalization, International Trade and Finance, Markets, Global Recession, Monetary Policy, and Financial Crisis
- Political Geography:
- United States and America
4. The Freedom Savings Credit: A Practical Step to Build Americans' Household Balance Sheets
- Author:
- Lisa Mensah, Raymond O'Mara III, Colby Farber, and Robert Weinberger
- Publication Date:
- 02-2012
- Content Type:
- Policy Brief
- Institution:
- Aspen Institute
- Abstract:
- The imbalance of too much debt and not enough assets fuels financial insecurity in many American households. Building Americans' household balance sheets should start with making savings and asset-building incentives more efficient and equitable. Although millions of working Americans currently receive little or no tax incentive to save, modest reforms to our tax code have the potential to dramatically improve their financial futures. The Aspen Institute Initiative on Financial Security (Aspen IFS) proposes the Freedom Savings Credit to create a more equitable and economically efficient savings system that will benefit millions of American households and the nation as a whole.
- Topic:
- Security, Debt, Economics, and Financial Crisis
- Political Geography:
- United States and America
5. The Dream Deferred
- Author:
- Marcelo M. Suárez-Orozco
- Publication Date:
- 05-2012
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Children are the unwitting victims of exclusionary policies toward immigrants. (video interview available)
- Topic:
- Security, Economics, and Financial Crisis
- Political Geography:
- America and Georgia
6. US Tax Discrimination Against Large Corporations Should Be Discarded
- Author:
- Gary Clyde Hufbauer and Martin Vieiro
- Publication Date:
- 10-2011
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The United States holds contradictory views about large corporations. When Americans speak of breakthroughs in research and engineering, they are justly proud of large firms that pioneered railroads and steam engines in the 19th century, automobiles, electric power, and oil exploration in the 20th century, and computers, software, and biotechnology in the 21st century. Yet when talk turns to paying taxes, public opinion holds that large corporations should pay a higher statutory tax rate than other business firms, and enjoy fewer deductions in computing their taxable income. Despite common sense and the teachings of economics, tax discrimination is alive and well.
- Topic:
- Economics, Globalization, International Trade and Finance, Markets, and Financial Crisis
- Political Geography:
- United States and America
7. The Future of Convergence
- Author:
- Dani Rodrik
- Publication Date:
- 10-2011
- Content Type:
- Working Paper
- Institution:
- Weatherhead Center for International Affairs, Harvard University
- Abstract:
- Novelists have a better track record than economists at foretelling the future. Consider then Gary Shteyngart's timely comic novel “Super Sad True Love Story” (Random House, 2010), which provides a rather graphic vision of what lies in store for the world economy. The novel takes place in the near future and is set against the backdrop of a United States that lies in economic and political ruin. The country's bankrupt economy is ruled with a firm hand by the IMF from its new Parthenon-shaped headquarters in Singapore. China and sovereign wealth funds have parceled America's most desirable real estate among themselves. Poor people are designated as LNWI (“low net worth individual s”) and are being pushed into ghettoes. Even skilled Americans are desperate to acquire residency status in foreign lands. (A degree in econometrics helps a lot, as it turns out). Ivy League colleges have adopted the names of their Asian partners and yuan-backed dollars are the only safe currency.
- Topic:
- Debt, Economics, Emerging Markets, Sovereign Wealth Funds, and Financial Crisis
- Political Geography:
- United States, China, America, and Singapore
8. Too Big to Fail: The Transatlantic Debate
- Author:
- Morris Goldstein and Nicolas Véron
- Publication Date:
- 01-2011
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Although the United States and the European Union were both seriously impacted by the financial crisis of 2007, resulting policy debates and regulatory responses have differed considerably on the two sides of the Atlantic. In this paper the authors examine the debates on the problem posed by "too big to fail" financial institutions. They identify variations in historical experiences, financial system structures, and political institutions that help one understand the differences of approaches between the United States, EU member states, and the EU institutions in addressing this problem. The authors then turn to possible remedies and how they may be differentially implemented in America and Europe. They conclude on which policy developments are likely in the near future.
- Topic:
- Economics and Financial Crisis
- Political Geography:
- United States, America, and Europe
9. The Evolving Structure of the American Economy and the Employment Challenge
- Author:
- Michael Spence and Sandile Hlatshwayo
- Publication Date:
- 03-2011
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- This paper examines the evolving structure of the American economy, specifically, the trends in employment, value added, and value added per employee from 1990 to 2008. These trends are closely connected with complementary trends in the size and structure of the global economy, particularly in the major emerging economies. Employing historical time series data from the Bureau of Labor Statistics and the Bureau of Economic Analysis, U.S. industries are separated into internationally tradable and nontradable components, allowing for employment and value-added trends at both the industry and the aggregate level to be examined. Value added grew across the economy, but almost all of the incremental employment increase of 27.3 million jobs was on the nontradable side. On the nontradable side, government and health care are the largest employers and provided the largest increments (an additional 10.4 million jobs) over the past two decades. There are obvious questions about whether those trends can continue; without fast job creation in the nontradable sector, the United States would already have faced a major employment challenge.
- Topic:
- Economics, Markets, Labor Issues, and Financial Crisis
- Political Geography:
- United States and America
10. Opportunity through Education: Two Proposals
- Author:
- Grover J. "Russ" Whitehurst
- Publication Date:
- 03-2011
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- The new normal for local, state and federal governments is fiscal austerity. Although President Obama supported education during his State of the Union address and in his budget proposal to Congress, cash-strapped localities and states—which foot most of the bill for educating America's children— may have to balance their budgets with cuts to schools and teachers. The recession exposed a long-developing structural imbalance between public expenditure versus raising the revenue for public services. Especially on education, reality has set in, with a vengeance.
- Topic:
- Education, Science and Technology, and Financial Crisis
- Political Geography:
- United States and America
11. Lawless Policy: TARP as Congressional Failure
- Author:
- John Samples
- Publication Date:
- 02-2010
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- The U.S. Constitution vests all the “legislative powers” it grants in Congress. The Supreme Court allows Congress to delegate some authority to executive officials provided an “intelligible principle” guides such transfers. Congress quickly wrote and enacted the Emergency Economic Stabilization Act of 2008 in response to a financial crisis. The law authorized the secretary of the Treasury to spend up to $700 billion purchasing troubled mortgage assets or any financial instrument in order to attain 13 different goals. Most of these goals lacked any concrete meaning, and Congress did not establish any priorities among them. As a result, Congress lost control of the implementation of the law and unconstitutionally delegated its powers to the Treasury secretary. Congress also failed in the case of EESA to meet its constitutional obligations to deliberate, to check the other branches of government, or to be accountable to the American people. The implementation of EESA showed Congress to be largely irrelevant to policymaking by the Treasury secretary. These failures of Congress indicate that the current Supreme Court doctrine validating delegation of legislative powers should be revised to protect the rule of law and separation of powers.
- Topic:
- Economics, Monetary Policy, and Financial Crisis
- Political Geography:
- United States and America
12. How Did the 2008 Economic Crisis Affect: Social and Political Solidarity in Europe?
- Author:
- Jennifer L. Hochschild
- Publication Date:
- 01-2010
- Content Type:
- Working Paper
- Institution:
- Weatherhead Center for International Affairs, Harvard University
- Abstract:
- One possible outcome of the economic crash of 2008 was that the majority or mainstream members of a society would direct their anger and fear against the minority or marginal members of their society. Commentators on television or the radio would claim, "it's all the fault of the immigrants!" or "if we didn't hand over so much of our tax dollars to the poor, the economy would not have deteriorated so much," or "social benefits to African Americans [or German Turks] have distorted the housing market." Citizens would come to believe these assertions, politicians would echo them – and the upshot would be not only a deteriorating national and international economy but also increased hostility and fear among racial, ethnic, or nationality groups in a country. Social solidarity would decline, perhaps irrevocably.
- Topic:
- International Relations, Economics, Politics, Social Stratification, and Financial Crisis
- Political Geography:
- Africa, America, Europe, and Germany
13. Of the Press: Models for Transforming American Journalism
- Author:
- Michael Fancher
- Publication Date:
- 05-2010
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- The idea of convening a forum to seriously examine the need to save American journalism would have been unthinkable just a few years ago. But in August 2009, the conversation seemed timely and urgent.
- Topic:
- Financial Crisis
- Political Geography:
- America
14. Tectonic Shifts and Systemic Faultlines: A Global Perspective to Understand the 2008-2009 World Economic Crisis
- Author:
- Bülent GÖKAY
- Publication Date:
- 04-2009
- Content Type:
- Journal Article
- Journal:
- Alternatives: Turkish Journal of International Relations
- Institution:
- Center for International Conflict Resolution at Yalova University
- Abstract:
- The last months of 2008 witnessed what is being called the worst financial crisis since the Great Depression of 1929-30. The first indications of a serious crisis appeared in January 2008. On 15 January, news of a sharp drop in the profits of the Citigroup banking led to a sharp fall on the New York Stock Exchange. On 21 January a spectacular fall in share prices occurred in all major world markets, followed by a series of collapses. A number of American and European banks declared massive losses in their 2007 end of the year results.
- Topic:
- Economics and Financial Crisis
- Political Geography:
- New York, America, and Europe
15. Wall Street/Main Street: The Challenge of Building Financial Security in the Obama Era
- Publication Date:
- 04-2009
- Content Type:
- Working Paper
- Institution:
- Aspen Institute
- Abstract:
- The last 18 months have dealt a devastating blow to Americans' sense of financial security. Few have been untouched by the financial crisis. For many, wealth accumulated over years of saving and investing has disappeared almost overnight. For many more, the economic crisis has imperiled their jobs, their ability to provide for their families, and their optimism about the future.
- Topic:
- Economics, International Trade and Finance, and Financial Crisis
- Political Geography:
- United States and America
16. American Multinationals and American Economic Interests: New Dimensions to an Old Debate
- Author:
- Theodore H. Moran
- Publication Date:
- 07-2009
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The 2008 election rekindled debate about whether US multinationals shift technology across borders and relocate production in ways that might harm workers and communities at home. President Obama now pledges to end tax breaks for corporations that ship jobs overseas. The preoccupation about the behavior of American multinationals takes three forms: (1) that US-based multinational corporations may follow a strategy that leads them to abandon the home economy, leaving the workers and communities to cope on their own with few appealing alternatives after the multinationals have left; (2) worse, that US-based multinational corporations may not just abandon home sites but drain off capital, substitute production abroad for exports, and “hollow out” the domestic economy in a zero-sum process that damages those left behind; and (3) worst, that US-based multinational corporations may deploy a rent-gathering apparatus that switches from sharing supranormal profits and externalities with US workers and communities to extracting rents from the United States. Each of these concerns contains a hypothetical outcome that can be compared with contemporary evidence from the United States and other home countries.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Markets, and Financial Crisis
- Political Geography:
- United States and America
17. Migrants and the Global Financial Crisis
- Author:
- Uri Dadush and Lauren Falcao
- Publication Date:
- 12-2009
- Content Type:
- Policy Brief
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- More than 200 million people reside in a country that is not their birthplace. This “diaspora nation” of migrants outranks all but four of the world's countries in population. These migrants make an immense economic contribution both to their host country and to their home country, primarily through transfers of money they earn back to their home country, which are known as “remittances.” About 82 percent of migrants originate in developing countries, and their remittances, which amounted to an estimated $305 billion in 2008, represent an essential source of foreign exchange for these countries, as well as a major instrument in the fight against poverty.
- Topic:
- Economics, Globalization, Migration, Immigration, and Financial Crisis
- Political Geography:
- Russia, America, and Dubai
18. China-Southeast Asia Relations
- Author:
- Robert Sutter
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies
- Abstract:
- Asian commentators who asserted that China and its neighbors could ride out the economic crisis in U.S. and Western financial markets appeared in retreat during the quarter as the impact of the financial turmoil and recession in America and Europe began to have a major effect on China and the region's trade, manufacturing, currency values, and broader economic stability. The hope that China could sustain stable growth independent of the U.S. and Europe and thereby provide an engine of growth for export-oriented Southeast Asian countries was dented by Chinese trade figures that nosedived in November, especially Chinese imports, which fell by 18 percent. The financial crisis also dominated the discussion at the ASEM summit in October. Meanwhile, China continued to pursue infrastructure development projects with its neighbors to the south, resolved the land boundary dispute with Vietnam, and signed a free trade agreement with Singapore. Talk of a planned Chinese aircraft carrier caused some controversy, but on the whole assessments of China's rise were notably more balanced than in the past.
- Topic:
- Economics, Financial Crisis, and Reform
- Political Geography:
- United States, China, America, Europe, Asia, and Southeast Asia
19. Earning from History: Financial Markets and the Approach of World Wars
- Author:
- Niall Ferguson
- Publication Date:
- 02-2008
- Content Type:
- Working Paper
- Institution:
- Weatherhead Center for International Affairs, Harvard University
- Abstract:
- We are living through a paradox-or so it seems. Since September 11, 2001, according to a number of neo-conservative commentators, America has been fighting World War III (or IV, if you like to give the Cold War a number). For more than six years, these commentators have repeatedly drawn parallels between the "War on Terror" that is said to have begun in September 2001 and World War II. Immediately after 9/11, Al Qaeda and other radical Islamist groups were branded "Islamofascists". Their attack on the World Trade Center was said to be our generation's Pearl Harbor. In addition to coveting weapons of mass destruction and covertly sponsoring terrorism, Saddam Hussein was denounced as an Arab Hitler. The fall of Baghdad was supposed to be like the liberation of Paris. Anyone who opposed the policy of pre-emption was an appeaser. And so on.
- Topic:
- Cold War, Economics, Terrorism, War, and Financial Crisis
- Political Geography:
- America and Iran