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861. Income Inequality Developments in the Great Recession

Author:
Tomas Hellebrandt
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
The Great Recession, which cost tens of millions of jobs, a collapse of asset values around the world, and threatened the global financial system, has generated renewed concern over the long-standing issue of the fairness of the distribution of wealth and income in many societies. Economic inequality has increased in the United States and many other advanced economies over the past 20 to 30 years. This trend generated less worry in the boom years, when unemployment rates were low and cheap credit enabled consumers to borrow and maintain higher standards of living, masking the impact of growing income disparity on consumption patterns and perceptions of well-being.
Topic:
Debt, Economics, International Trade and Finance, Poverty, Social Stratification, and Financial Crisis
Political Geography:
United States, United Kingdom, Germany, Spain, Italy, and Ireland

862. Addressing Currency Manipulation Through Trade Agreements

Author:
C. Fred Bergsten
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
A bipartisan majority in both Houses of Congress is insisting that the United States include a provision in future trade agreements that would bar currency manipulation. A letter from 60 senators to Secretary of the Treasury Jacob Lew and United States Trade Representative (USTR) Michael From an on September 23, 2013, called for "strong and enforceable foreign currency manipulation disciplines" in the Trans-Pacific Partnership (TPP) while 230 members of the House of Representatives told President Barack Obama on June 6, 2013, that "it is imperative that (the TPP) address currency manipulation.to create a level playing field for American businesses and prevent more US jobs from being shipped overseas." The trade promotion authority (TPA) legislation proposed by congressional trade leaders on January 9, 2014, establishes the avoidance of currency manipulation as a "principal US negotiating objective" in its future trade agreements.
Topic:
Economics, Emerging Markets, International Trade and Finance, and Monetary Policy
Political Geography:
United States

863. Making Labor Market Reforms Work for Everyone: Lessons from Germany

Author:
Jacob Funk Kirkegaard
Publication Date:
01-2014
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
Mark Twain once wrote an essay about the difficulties of learning what he called "The Awful German Language." Similar barriers to comprehension seem to plague those trying to explain recent German economic performance. By most measures, Germany has the best functioning labor market among large economies in the West, with levels of employment reaching those in the United States at the end of the turbo-charged 1990s. A debate has stirred, however, about whether this success has come with a price—specifically, whether Germany's domestic structural reforms have lowered living standards for Germany's low income workers and worsened income inequality and whether Germany is fortuitously and perhaps selfishly riding a wave of strong foreign demand for German exports.
Topic:
Economics, Industrial Policy, International Trade and Finance, Markets, and Labor Issues
Political Geography:
United States, Europe, and Germany

864. Marginal Tax Rates and U.S. Growth: Flaws in the 2012 CRS Study

Author:
Jason E. Taylor and Jerry L. Taylor
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In September 2012, seven weeks before the presidential election—one in which top marginal tax rates were a major policy difference between the two major—party candidates-the Congressional Research Service (CRS) published a paper (Hungerford 2012) suggesting that there is no empirical evidence that top marginal tax rates impact U.S. economic growth. After all, top marginal tax rates were above 90 percent during the 1950s and early 1960s when the economy experienced rapid growth. Furthermore, marginal tax rate cuts in 2001 and 2003 were followed by the worst financial crisis since the Great Depression. The CRS study was widely reported in blogs, newspapers such as the New York Times, and The Atlantic magazine. It was portrayed as evidence refuting Republican candidate Mitt Romney's position that cutting the top marginal tax rate from 35 to 28 percent would spur economic growth and supporting Democratic President Barack Obama's position that top marginal tax rates could be raised to 39.6 percent with no cost to economic growth (Leonhart 2012, Thompson 2012).
Political Geography:
United States

865. The Medical Care Cost Ratchet

Author:
Andrew Foy, Christopher Sciamanna, Mark Kozak, and Edward J. Filippone
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Since 1970, the annual growth in U.S. health care spending per capita has been more than double the real growth in GDP per capita: 4.3 percent versus 2 percent. Over that same time period countries belonging to the Organization for Economic Cooperation and Development (OECD) averaged an annual growth rate of 3.8 percent in health care spending per capita compared to only a 2.1 percent annual growth in GDP per capita. Eight of 20 countries had higher average annual growth rates in health care spending per capita than the United States (White 2007). In light of the pronounced institutional differences among these countries in medical financing arrangements, the similarity in the rate of health care spending growth is striking. Therefore, any explanation that seeks to account for the tremendous cost growth in health care over the last several decades must hold true across all OECD countries.
Political Geography:
United States

866. Cholera and the Road to Modernity: Lessons from One Latin American Epidemic for Another

Author:
Jonathan Weigel and Paul Farmer
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
Haiti is currently battling the world's largest cholera epidemic in half a century. An integrated, comprehensive response—including case-finding and rapid treatment, water and sanitation efforts, and vaccination—could bring cholera to heel on Hispaniola and help prevent its spread elsewhere in the region.1 But the local and international response has, to date, fallen short. Tens of thousands of cases and hundreds of deaths were reported in May and June of this year.2 If the disease had appeared in the United States or elsewhere in the developed world, all available control tools would have been deployed. But the safe, effective and inexpensive cholera vaccine has only recently become available in Haiti. In April, the Haitian Ministry of Health and two healthcare nonprofits began delivering vaccines to about 91,000 people in rural and urban Haiti.
Topic:
Development and Health
Political Geography:
United States and Latin America

867. Women in Robes

Author:
Sital Kalantry
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
For the first time in United States history, three of the nine justices sitting on the Supreme Court are women. About 33 percent of state and federal court judges in the U.S. are women, slightly higher than the global average of 27 percent. Why does this matter? Scores of empirical studies have attempted to determine whether the gender of a judge makes a difference to his or her decisions. But regardless of whether it does, equal representation for women in the judiciary strengthens the rule of law and should be a goal across the Americas. Increasingly, women in the region have overcome stiff challenges to becoming judges. Although the statistics for Latin American countries are slightly lower overall than in the U.S., they signal impressive progress. [See Table 1] For example, in 2010 18 percent of judges in Brazil's highest court were women, compared to 0 percent in 1998. In Peru, the figure was 23 percent in 2010 versus 6 percent in 1998.
Political Geography:
United States, Europe, Brazil, and Latin America

868. Diversity Equals Dollars

Author:
Cedric Herring
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
For many people, gender diversity is important because it removes barriers that have historically prevented women from taking their rightful places in the corridors of power. But there's also a specific business case to be made: including more women in the corporate setting will help meet customers' needs, enrich understanding of the pulse of the marketplace and improve the quality of products and services. The business case rests on what should be an obvious point: companies cannot effectively sell to women if they do not understand and value women, whether as customers or as employees. Therefore, increasing gender diversity in Latin American companies, especially in mass consumer-oriented sectors where women form large portions of the actual or potential customer base, will help boost their bottom line. In the United States, proponents of diversity commonly make the claim that diversity pays. The greater the diversity among employees, the broader their perspectives, resulting in an ability to marshal a wider array of intellectual and cultural resources to solve problems. Diversity also is a source of creative conflict that can lead to a re-examination of assumptions that would otherwise be dominated by male points of view. The putative competitive advantages—fresh ideas, positive outreach and communication with customers, more qualified workers— have persuaded many companies that diversity can produce greater profit.
Political Geography:
United States and Latin America

869. Plan Colombia: A Retrospective

Author:
Michael Shifter
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
At first glance, perhaps the most notable feature of Plan Colombia has been its longevity. Given the current divisiveness in Washington, the bipartisan support it has received across three administrations now seems remarkable. After 12 years, the plan is gradually winding down, but the U.S. allocated more than $300 million under the program in 2012 alone. Although the Plan has evolved considerably since it was approved by the U.S. Congress in July 2000, it has become shorthand for wide-ranging U.S. cooperation with Colombia to assist that country in combating drugs, guerrilla violence, and related institutional and social problems. All told, the U.S. has spent nearly $8 billion on the initiative—more than anywhere outside of the Middle East, and Iraq and Afghanistan since the end of the Cold War. Although the effort gave priority to counter-narcotics operations—and specifically the eradication of coca in southern Colombia—from the outset it also encompassed assistance for the judiciary and economic development.
Topic:
Foreign Policy, Cold War, Development, Government, and Human Rights
Political Geography:
United States, Iraq, Washington, and Middle East

870. Dispatches From The Field: Havana

Author:
David Tebaldi
Publication Date:
03-2014
Content Type:
Journal Article
Journal:
Americas Quarterly
Institution:
Council of the Americas
Abstract:
One hot afternoon during a visit to Cuba in March 2000, a traveling companion and I hopped into a tricycle cab for a ride from the Hotel Nacional to Old Havana. The young man pedaling the cab overheard us talking and turned his head to ask, “Canadian?” “No, somos Americanos,” I responded. His face lit up. “Every day when I wake up,” he blurted out, “I dream of going to America.” Orlando, whose name has been changed for this article, was in his early 30s. An ophthalmologist by training, he was pedaling a cab because he could not support his wife and three-year-old daughter on his government salary of $20 a month. We hadn't gotten very far when we were pulled over by a policeman. He walked Orlando some distance away from us and after several minutes of what looked like tense conversation, Orlando returned to inform us that he had broken the law by taking foreigners in his pedal cab, which was only for Cuban nationals. Only government-owned taxis were allowed to pick up tourists.
Topic:
Government
Political Geography:
United States, Ukraine, and Havana