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421. The Radical Libertarian Political Economy of 19th Century Preacher David Lipscomb

Author:
Edward P. Stringham
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
David Lipscomb (1831-1917) was an influential Tennessee preacher who edited a weekly paper from 1866-1917 and published a book Civil Government in 1889. Although few, if any, economists appear to be aware of David Lipscomb, Lipscomb's writing includes many points that political economists, especially radical libertarian ones, are making today. This article highlights some of Lipscomb's insights and relates them to arguments made by economists in the past three decades. Lipscomb argued that government is not created for the benefit of the public but for the benefit of the rulers. He believed that all governments, including democratic ones, are problematic. He argued that self-serving politicians actually create conflict and violence and that the public should withdraw support from government. He argued that moral people should not participate in politics, should not vote, and should not fight in wars. Modern libertarian economists make similar arguments that Lipscomb made more than a century in advance.
Topic:
Civil Society, Government, and Politics
Political Geography:
United States

422. Jefferson Rebuffed - The United States and the Future of Internet Governance

Author:
Viktor Mayer-Schoenberger and Malte Ziewitz
Publication Date:
05-2006
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
When after years of preparation and consultations, the World Summit on the Information Society (WSIS) concluded in Tunis with the adoption of the Tunis Commitment and the Tunis Agenda on November 18, 2005, the nearly fifty heads of state, vice–presidents, and almost 200 cabinet level government officials from around the world hailed it as a great achievement. For many of the 19,000 participants in the three-day meeting, which ended a multi-year process that had officially begun with the first WSIS meeting in Geneva in December 20035, the relief was palpable. Tense negotiations, public diplomacy, and a momentous switch of key players in the months leading up the Tunis event had at times put the prospect of a successful conclusion of the WSIS process in doubt.
Topic:
International Relations, Globalization, and Government
Political Geography:
United States

423. Is the Food Model Changing?

Author:
Martin Kenney
Publication Date:
05-2006
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
Consumers offered mediocre quality food – Supersized with chemicals, sugar and lipids Provide ever more highly engineered foods – e.g., Pork with Omega-3 engineered into it Ignore consumer's desires for safety such as BSE testing Government run for the food and chemical industry -- little regulation, low standards – US government welfare keeps this alive.
Topic:
Government, Health, and International Political Economy
Political Geography:
United States

424. Fragile States and U.S. Foreign Assistance: Show Me the Money

Author:
Stewart Patrick and Kaysie Brown
Publication Date:
08-2006
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
The Bush administration has increasingly acknowledged that weak and failing states represent the core of today's global development challenge. It has also recognized that such states are potential threats to international peace and security. But despite the rhetoric, it has yet to formulate a coherent strategy around fragile states or commit adequate resources towards engaging them. Excluding funding for Iraq, Afghanistan, Pakistan, and HIV/AIDS, the administration's FY07 budget request proposes to spend just $1.1 billion in direct bilateral assistance to fragile states—little more than a dollar per person per year. In this new working paper, CGD research fellow Stewart Patrick and program associate Kaysie Brown urge U.S. policymakers to consider increasing aid to fragile states and to think creatively about how and when to engage these troubled countries. The authors also call for the policy community to integrate non-aid instruments into a more coherent government strategy. To put its money where its mouth is, the U.S. should treat aid to weak and failing states as a form of venture capital, with high risk but potentially high rewards.
Topic:
Economics, Government, and Humanitarian Aid
Political Geography:
Pakistan, Afghanistan, United States, and Iraq

425. Pakistan: The Worsening Conflict in Balochistan

Publication Date:
09-2006
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
President Pervez Musharraf and the military are responsible for the worsening of the conflict in Balochistan. Tensions between the government and its Baloch opposition have grown because of Islamabad's heavy-handed armed response to Baloch militancy and its refusal to negotiate demands for political and economic autonomy. The killing of Baloch leader Nawab Akbar Khan Bugti in August 2006 sparked riots and will likely lead to more confrontation. The conflict could escalate if the government insists on seeking a military solution to what is a political problem and the international community, especially the U.S., fails to recognise the price that is involved for security in neighbouring Afghanistan.
Topic:
Conflict Resolution, Economics, and Government
Political Geography:
Pakistan, Afghanistan, United States, and Asia

426. Serbia's New Constitution: Democracy Going Backwards

Publication Date:
11-2006
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
Premier Vojislav Kostunica won a high stakes gamble with passage of Serbia's draft constitution in the 28-29 October referendum. However, numerous credible reports indicate the process was deeply flawed and the result falsified. The referendum cannot be characterised as either free or fair. The new constitution could prove a step away from European values. It opens the door to increased centralisation of the state, curtailment of human and minority rights, destruction of judicial independence and potentially even a parliamentary dictatorship. The process used to pass the constitution illustrates how Kostunica continues to transform Serbia into something closer to illiberal authoritarianism than liberal democracy; yet, the referendum was welcomed by the Council of Europe, the European Union and the United States.
Topic:
Democratization, Development, and Government
Political Geography:
United States, Europe, Eastern Europe, and Serbia

427. Zimbabwe: An Opposition Strategy

Publication Date:
08-2006
Content Type:
Policy Brief
Institution:
International Crisis Group
Abstract:
The risk of an explosion that could cost thousands of lives in the country and shatter the stability of Southern Africa is growing in Zimbabwe. Political reform is blocked, and virtually every economic indicator continues to trend downward. Inflation, poverty and malnutrition are growing more acute. Party and civil society opponents of President Mugabe's government are yet to tap effectively into the living-standards-based dissatisfaction but it could finally become the spark that sets Zimbabwe toward change. The course is risky but Zimbabwe's splintered opposition needs to come together to formulate a campaign of non-violent resistance that channels this anger and frustration into pressure on Mugabe to keep his word to retire by 2008 and on his ruling ZANU-PF party to negotiate seriously on a transition. The international community, long frustrated at its inability to influence the crisis, should assist, especially by tightening targeted sanctions (U.S./EU) and offering mediation services (South Africa).
Topic:
Democratization and Government
Political Geography:
Africa, United States, South Africa, and Zimbabwe

428. Fed Uncertainty Means Market Uncertainty

Author:
John H. Makin
Publication Date:
05-2006
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The new Federal Reserve chairman, Ben Bernanke, is making what cynics would call a serious mistake: he is being honest with the markets. The Fed is uncertain about the future path of U.S. growth and inflation. The most basic tenet of the theory of economic policy is that in circumstances of elevated uncertainty, policymakers should do less. Therefore, in his April 27 testimony to the Joint Economic Committee of Congress, Bernanke suggested that the Fed might start doing less: Even if in the Committees judgment the risks to its objectives are not entirely balanced, at some point in the future the Committee may decide to take no action at one or more meetings in the interest of allowing more time to receive information relevant to the outlook [emphasis added]. The new Federal Reserve chairman, Ben Bernanke, is making what cynics would call a serious mistake: he is being honest with the markets. The Fed is uncertain about the future path of U.S. growth and inflation. The most basic tenet of the theory of economic policy is that in circumstances of elevated uncertainty, policymakers should do less. Therefore, in his April 27 testimony to the Joint Economic Committee of Congress, Bernanke suggested that the Fed might start doing less: Even if in the Committees judgment the risks to its objectives are not entirely balanced, at some point in the future the Committee may decide to take no action at one or more meetings in the interest of allowing more time to receive information relevant to the outlook [emphasis added]. After its May 10 meeting, the Feds Open Market Committee reinforced the message of more uncertainty about the direction of the economy, saying: The Committee judges that some further policy firming may yet be needed to address inflation risks but emphasizes that the extent and timing of any such firming will depend importantly on the evolution of the economic outlook as implied by incoming information [emphasis added]. Chairman Bernanke and virtually all of his colleagues on the Open Market Committee have made it clear, most forcefully in their May 10 statement, that they view the Federal Reserves most important mandated objective as one of maintaining low and stable inflation. A glance at any long-run chart of U.S. growth and inflation data clearly demonstrates the basis for this view. Since the early 1980s, when inflation was reduced and held to low and stable levels, U.S. economic performance has improved markedly. Growth has been higher and steadier; productivity growth picked up especially after 1995 and has remained higher ever since. Virtually all macroeconomic data have stabilized in a way that has reduced the duration and severity of recessions, so that the last recession (in 2001) was barely detectable. The Great Moderation is an often-used term that describes policymakers pride and satisfaction with the beneficial results of bringing down inflation and holding it at low levels.
Topic:
Economics, Government, Markets, and Monetary Policy
Political Geography:
United States

429. Bond Market Bubble?

Author:
John H. Makin
Publication Date:
01-2006
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
On Tuesday, January 18, the yield on fifty-year inflation-protected U.K. government bonds (what the British call "indexed-linked gilts") dropped to 0.38 percent, about one-seventh the historical average of just over 2.6 percent for such debt instruments. Just a few months earlier, that yield had been over 1 percent, still extraordinarily low by historical standards, and especially low in an economy that has experienced fifty-three consecutive quarters of positive growth. A yield drop from 1 percent to 0.38 percent on a fifty-year bond corresponds to a 30 percent rise in its price over a period of just three months. That is an annual return of over 100 percent, much higher than the 13 percent annual increase in U.S. house prices at midyear and the 20 to 30 percent gains seen in the stock market before the March 2000 crash. The asset bubble has spread to long-term government bonds, especially those with inflation protection. What is going on here?
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
United States, United Kingdom, and Europe

430. Why Poverty Doesn't Rate

Author:
Nicholas Eberstadt
Publication Date:
09-2006
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Without a clearer understanding of the serious flaws in the government's official measure of poverty, most initiatives aimed at reducing poverty in the United States will be needlessly ineffective. New measures that take into account contemporary lifestyles and the dynamic U.S. economy will be more useful in helping the poor.
Topic:
Economics, Government, and Poverty
Political Geography:
United States