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3241. An Overview of Climate Change: What does it mean for our way of life? What is the best future we can hope for?

Author:
Neva Goodwin
Publication Date:
03-2008
Content Type:
Working Paper
Institution:
Global Development and Environment Institute at Tufts University
Abstract:
This paper starts with the question of whether climate change will require a significant reduction of consumption among the richer people in the world, and ends with the most optimistic picture the author can conjure up, of the world in the year 2075. That hopeful picture is of a world in which inequalities – among and within nations – have been substantially reduced. The challenges and adjustments confronting humanity in the coming decades provide an opportunity that could be used to mitigate climate change in ways that can improve the circumstances of the poor. Ecological reasons to reduce throughput of energy and materials in economic systems urge the abandonment of high-consumption life-styles. The 21st century will be an era of many losses, but it is conceivable that societies will successfully make the transition from goals of economic growth, as understood in the 20th century, to goals of maintaining and increasing sustainable well-being.
Topic:
Climate Change, Development, and Economics

3242. Responsible investment: a force for poverty alleviation

Author:
Rory Sullivan and Helena Viñes Fiestas
Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The unprecedented turmoil in the world's financial markets has resulted in a significant loss of trust in the global financial system. Financial institutions and the market as a whole have been criticised for short-termism, for lacking transparency, and for not being properly accountable to regulators or to wider society. The credit crisis has also raised wider questions about the proper role of investors in society, both in terms of the specific investments that they make and the manner in which they use their influence to ensure that the positive social and environmental impacts of their investment activities are maximised, and the negative impacts minimised.
Topic:
Corruption, Economics, Globalization, and Poverty

3243. If Not Now, When?

Publication Date:
11-2008
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The world's poor must not pay the price for the collapse of financial markets. Without immediate action, millions will suffer. Poor women and children will pay for the financial folly, failed ideology and crude self-interest that led to this crisis. Much of the burden will be borne by those least able to cope, whether it is poor families evicted from their homes in Detroit, or poor children dying in Mali for want of basic medical care. As the leaders of 20 industrialised and emerging economies convene in Washington for their G20 Emergency Summit on 15 November, small-scale tinkering and limited financial regulation is not good enough. The world leaders gathered for the G20 meeting must heed the call of many around the world, including Ban Ki-moon, Kofi Annan1 and others, to have the ambition and will to act now to help the poorest. The decisions cannot all be taken now, but an ambitious vision can be articulated and followed by work with the UN in the coming months to rapidly build from the ashes of this crisis a new 21st century political and economic system that is just and equitable.
Topic:
Economics, Globalization, Political Economy, Poverty, and United Nations

3244. Der kollektive "Buddenbrooks-Effekt"

Author:
Christoph Deutschmann
Publication Date:
05-2008
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The paper views the current financial crisis in light of long-term structural socioeconomic changes in advanced industrial societies. In Western Europe, the United States and Japan, the period of economic prosperity after the Second World War led to a remarkable accumulation of wealth among the middle class that had surprisingly little effect on the substantial fortunes of the wealthiest upper class. This affluence gave rise to pension and investment funds emerging as a new type of collective actor in global financial markets, while the economy was marked by increasing instability, declining growth rates and financial crises. The paper tries to clarify the interconnections between these phenomena using the framework of a multilevel analysis that culminates in a model I call the “collective Buddenbrooks effect” (“Buddenbrooks” being a family saga by Thomas Mann): Structural upward social mobility will lead to an increasing imbalance in capital markets, since the volume of financial assets looking for profitable investment will rise as the social reservoir of solvent debtors and promising investment opportunities decline. Advanced industrial economies are thus characterized by a bias towards capital export and excessive financial liquidity, with the well-known consequences of low economic growth rates and the danger of speculative bubbles on global capital markets. The middle class that originally benefitted from postwar prosperity is negatively affected, too. I argue that the current crisis cannot be understood sufficiently without taking this structural socioeconomic background into account.
Topic:
Economics, International Political Economy, International Trade and Finance, Political Economy, and Political Theory
Political Geography:
United States, Japan, and Europe

3245. Economic Sociology and Political Economy: A Programmatic Perspective

Author:
Jens Beckert and Wolfgang Streeck
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The paper presents some of the ideas underlying the current research program of the Max Planck Institute for the Study of Societies (MPIfG). It begins with a discussion of how the institute's programmatic orientation has evolved since it was founded in 1984. Programmatic change over the years involved (1) recognition of a secular decline in the capacity of the nation-state to organize and guarantee social order, and of the growing significance of self-regulating, “free” national and international markets for social life; (2) increased attention to issues of meaning and to “culture” and cultural symbolism, as well as to normative questions; (3) a gradual shift in emphasis from policy to politics; and (4) more explicit recognition of history and of the historicity of the questions posed and the observations analyzed in social science. The second part of the paper argues that Gesellschaftsforschung today is most appropriately conceived as the study of the economy and society of contemporary capitalism. It is suggested that the most promising approach is close cooperation between the scholarly traditions of political economy and economic sociology, with the former standing to benefit from a more explicit micro-foundation in a sociological theory of action and the latter from more systematic consideration of politics and the state. Third, the paper shows how the approach that has evolved at the MPIfG differs from mainstream economic sociology, from the so-called new institutional economics, and from behavioral economics. The paper concludes by enumerating four subject areas that are likely to be of particular importance for research at the MPIfG: (1) the nature of rational-economic action, (2) the constitution of markets, (3) the emergence and change of institutions, and (4) the relationship between capitalism and democracy.
Topic:
Economics, International Political Economy, Political Economy, and Political Theory

3246. The Political and Economic Forces Shaping Concentrated Poverty

Author:
William J. Wilson
Publication Date:
12-2008
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
Through the second half of the 1990s and into the early years of the twenty-first century, public attention to the plight of poor black Americans seemed to wane. There was scant media attention to the problem of concentrated urban poverty (neighborhoods in which a high percentage of the residents fall beneath the federally designated poverty line), little or no discussion of inner-city challenges by mainstream political leaders, and even an apparent quiescence on the part of ghetto residents themselves. This was dramatically different from the 1960s, when the transition from legal segregation to a more racially open society was punctuated by social unrest that sometimes expressed itself in violent terms, as seen in the riots that followed the assassination of Dr. Martin Luther King, Jr.
Topic:
Economics
Political Geography:
America

3247. Sustained Economic Growth: Do Institutions Matter, and Which One Prevails?

Author:
Abdoul' Ganiou Mijiyawa
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
In 1965, the growth rate of per capita GDP in Niger and Nigeria was 2.1 percent and 4.2 percent, respectively, and 2.9 percent in Botswana. From 1966 to 1969, however, Niger and Nigeria recorded a negative growth rate, while Botswana continued to experience a positive growth rate over the same period. In 1990, the growth rate of per capita GDP was 1 percent in Ghana and 5.2 percent in Nigeria. Yet, from 1991 to 1994, the growth rate was negative in Nigeria and positive in Ghana. Why does the trajectory of economic growth episodes differ among countries? In other words, why is economic growth more sustainable in some countries than in others?
Topic:
Economics
Political Geography:
Nigeria and Ghana

3248. The Swiss National Bank: 1907–2007 by Werner Abegg, Ernst Baltensperger, et al., contributors

Author:
Kurt Schuler
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
The Swiss franc is the world's best-performing currency over the last century: it has lost only about 87 percent of its value in terms of gold, compared to 97 percent for the U.S. dollar and more than 99 percent for almost all other currencies. Switzerland's avoidance of wars, which is part policy and part lucky geography, has contributed to the relative stability of the franc. So have the conservative financial habits of its citizens, which have been reflected in the country's generally prudent government finances. But some credit undoubtedly belongs to the central bank, the Swiss National Bank. It has consistently pursued monetary policies that have produced low inflation, and has made few consequential errors since it was established in 1907. Its experience therefore should be of interest far beyond the borders of Switzerland. This centennial volume, by a constellation of 40 Swiss and foreign authors, is a history and an examination of issues in monetary policy the central bank has faced. It is typically Swiss in its occasionally ponderous thoroughness, pleasing design, and high quality.
Topic:
Economics, International Trade and Finance, and Monetary Policy
Political Geography:
France and Switzerland

3249. Nudge: Improving Decisions about Health, Wealth, and Happiness

Author:
Ike Brannon
Publication Date:
09-2008
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
When it comes to social policy, inertia can be a bitch. While the sentiment may not seem all that profound, its gradual realization by economists and policymakers is beginning to have an impact on public policy. It has already wreaked havoc within the economics discipline.
Topic:
Economics and Health

3250. Multilateralism Beyond Doha

Author:
Arvind Subramanian and Aaditya Mattoo
Publication Date:
10-2008
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
There is a fundamental shift taking place in the world economy to which the multilateral trading system has failed to adapt. The Doha process focused on issues of limited significance while the burning issues of the day were not even on the negotiating agenda. The paper advances five propositions: the traditional negotiating dynamic, driven by private sector interests largely in the rich countries, is running out of steam; the world economy is moving broadly from conditions of relative abundance to relative scarcity, and so economic security has become a paramount concern for consumers, workers, and ordinary citizens; international economic integration can contribute to enhanced security; addressing these new concerns–relating to food, energy and economic security-requires a wider agenda of multilateral cooperation, involving not just the WTO but other multilateral institutions; and despite shifts in economic power across countries, the commonality of interests and scope for give-and-take on these new issues make multilateral cooperation worth attempting.
Topic:
International Relations, Economics, Globalization, International Political Economy, International Trade and Finance, Markets, and Privatization
Political Geography:
Middle East