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12. The Drive Behind Tesla’s New Manufacturing Plant in Mexico
- Author:
- Mateo Crossa and Nina Ebner
- Publication Date:
- 04-2023
- Content Type:
- Commentary and Analysis
- Institution:
- The North American Congress on Latin America (NACLA)
- Abstract:
- Tesla’s plan to open a Gigafactory in Monterrey is welcomed by local business elites, but will only deepen processes of labor devaluation and technological dependency.
- Topic:
- Science and Technology, Labor Issues, Business, Manufacturing, Elites, and Tesla
- Political Geography:
- Latin America and Mexico
13. Federal Reserve Anti-Inflation Policy: Wealth Protection for the 1%?
- Author:
- Aaron Medlin and Gerald Epstein
- Publication Date:
- 02-2023
- Content Type:
- Working Paper
- Institution:
- Political Economy Research Institute (PERI), University of Massachusetts Amherst
- Abstract:
- The Federal Reserve has a dual mandate from Congress that directs it to conduct monetary policy as such to achieve “maximum employment” and “stable prices.” Yet the U.S. central bank typically chooses to address inflation as a top priority and focuses on employment only secondarily, if at all. Why? In this paper we argue that an important reason is that the Federal Reserve conducts policy so as protect the real wealth of the top 1% of the wealth distribution. We focus on the Fed’s fight against inflation in 2021-2022, when it rapidly raised its policy interest rates by almost 4 percentage points in the face of more than 6 percent inflation. Using a novel econometric analysis, we provide evidence that shows that this policy serves as a real net wealth protection policy for the 1% by restoring some of the lost wealth that they would otherwise lose due to unexpected inflation. The results of this policy for the top 10% of the wealth distribution are econometrically ambiguous. But to the extent that the Fed’s high interest rates generate higher unemployment or even a recession, this wealth protection for the 1% could have serious income costs for workers who find themselves or another member of their household out of a job.
- Topic:
- Political Economy, Monetary Policy, Inflation, Elites, and Wealth
- Political Geography:
- North America and United States of America
14. Technology will save the climate! Attitudes towards Norway’s climate policy in four social groups
- Author:
- Åsta Dyrnes Nordø
- Publication Date:
- 02-2023
- Content Type:
- Working Paper
- Institution:
- Kiel Institute for the World Economy (IfW)
- Abstract:
- The risk of opposition from the population increasingly plays a role in choosing the climate policy measures to achieve the objective to substantially reduce greenhouse gas emissions. In Norway, there is a long-standing cross-party consensus that the development of new technologies will be crucial for solving climate challenges. Comparing public opinion surveys, Norwegians are significantly more convinced that new technology will solve problems induced by climate change, compared people in other European countries. A concrete example of such a technology is carbon capture and storage (CCS). Despite discussions about the costs of establishing the technology, there is a cross-party consensus in Norway that CCS is a good and suitable measure for reaching climate policy goals. In this article, we review the historical background that has led to this broad support in Nor-way. Furthermore, we look at how this has been expressed in the political parties’ attitudes towards CCS. There has been a long standing consensus among all major parties that CCS should be developed and deployed. We argue that this lay the foundation for the societal support for CCS. We analyze data from the Norwegian Coordinated Online panels for research on DEMocracy and governance (KODEM) to examine the attitudes toward CCS among citizens and three functional elites, namely elected representatives, bureaucrats, and journalists. We find that CCS receives strong support in all four groups, but that citizens and elected representative are more skeptical compared to bureaucrats and journalists. However, when looking at the factors that influence the perception of CCS, the pattern is the same for all four groups. The more technology optimistic a person is, the more positively they tend to perceive CCS as a method to fight climate change. We also find that those who think the political efforts to reduce greenhouse gases are too great are less positive about CCS com-pared to those who think the efforts are appropriate or too small. Overall, the analysis indicates that all four societal groups are technology optimistic and characterized by the same attitudes toward climate change. We discuss the role of technology optimism in Norway’s climate policy and the reasons for the high degree of political consensus across groups with different societal functions.
- Topic:
- Climate Change, Science and Technology, Carbon Emissions, Elites, and Attitudes
- Political Geography:
- Europe and Norway
15. Top Wealth and Its Historical Origins: An Analysis of Germany’s Largest Privately Held Fortunes in 2019
- Author:
- Daria Tisch and Emma Ischinsky
- Publication Date:
- 04-2023
- Content Type:
- Working Paper
- Institution:
- Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
- Abstract:
- Rising wealth inequality is both a topic in recent policy discussion and in the social sciences. Despite the general interest in wealth concentration, we know only little about the largest privately held fortunes. To help fill this gap we analyze the historical origins of Germany’s 1,032 largest fortunes in 2019. In particular, we identify the share of entrenched fortunes – fortunes which date back to the beginning of the twentieth century – and ask to what extent they differ from more recently established ones. Furthermore, we examine in an exploratory way if entrenched fortunes are connected to fortunes with more recent origins through family lines. We use a journalistic rich list published by the manager magazin in 2019, which we link with both rich lists from 1912/1914 and Wikidata. We find that about eight percent of today’s fortunes can be traced back to fortunes held by the same families in 1913. Regression analyses show that entrenched fortunes rank on average higher on the rich list than the remaining ones. Descriptive network analyses indicate that some of today’s largest fortunes are intertwined through marital lines, hinting at social closure at the top. Our findings indicate that the accumulation and perpetuation of fortunes over many generations is an important feature of top wealth in Germany.
- Topic:
- Inequality, Family, Elites, Wealth, Inheritance, and Network Analysis
- Political Geography:
- Europe and Global Focus
16. Starr Forum: Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity
- Author:
- Daron Acemoglu and Fotini Christia
- Publication Date:
- 10-2023
- Content Type:
- Video
- Institution:
- MIT Center for International Studies
- Abstract:
- A thousand years of history and contemporary evidence make one thing clear: progress depends on the choices we make about technology. New ways of organizing production and communication can either serve the narrow interests of an elite or become the foundation for widespread prosperity. Today, digital technologies and artificial intelligence threaten jobs and democracy through excessive automation, massive data collection, and intrusive surveillance. Will the next decades bring shared prosperity or a further move in the direction of two-tiered societies? Join us for this important discussion with Daron Acemoglu, the co-author of Power and Progress.
- Topic:
- Science and Technology, Communications, Inequality, Elites, Prosperity, and Production
- Political Geography:
- Global Focus
17. Top Wealth and Its Historical Origins: An Analysis of Germany’s Largest Privately Held Fortunes in 2019
- Author:
- Daria Tisch and Emma Ischinsky
- Publication Date:
- 01-2023
- Content Type:
- Working Paper
- Institution:
- Max Planck Institute for the Study of Societies
- Abstract:
- Rising wealth inequality is both a topic in recent policy discussion and in the social sciences. Despite the general interest in wealth concentration, we know only little about the largest privately held fortunes. To help fill this gap we analyze the historical origins of Germany’s 1,032 largest fortunes in 2019. In particular, we identify the share of entrenched fortunes – fortunes which date back to the beginning of the twentieth century – and ask to what extent they differ from more recently established ones. Furthermore, we examine in an exploratory way if entrenched fortunes are connected to fortunes with more recent origins through family lines. We use a journalistic rich list published by the manager magazin in 2019, which we link with both rich lists from 1912/1914 and Wikidata. We find that about eight percent of today’s fortunes can be traced back to fortunes held by the same families in 1913. Regression analyses show that entrenched fortunes rank on average higher on the rich list than the remaining ones. Descriptive network analyses indicate that some of today’s largest fortunes are intertwined through marital lines, hinting at social closure at the top. Our findings indicate that the accumulation and perpetuation of fortunes over many generations is an important feature of top wealth in Germany.
- Topic:
- Family, Elites, Wealth, Inheritance, and Network Analysis
- Political Geography:
- Europe and Germany
18. Iraq’s state of democracy: A self-perpetuating cycle against reform in favour of the political elite
- Author:
- Mariette Hagglund
- Publication Date:
- 02-2022
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs (FIIA)
- Abstract:
- In addition to Afghanistan, Iraq has been one of the US’s major state-building projects in the 21st century. The recent events in Afghanistan have again highlighted criticism against large-scale interventions. The changes in Iraq’s electoral law have brought about some positive changes, but did not address the root causes of the problems in the political system. Institutions in Iraq are weak and marred by politicization and pressure from powerful parties. Hence, their independence is highly questionable. While improving democracy in Iraq would require radical change, taking minor steps forward remains a more attractive and doable option for the Iraqi and international leadership. However, by working with established political players, the very barriers to more significant reform are simultaneously being strengthened.
- Topic:
- Reform, Democracy, Elites, and Social Order
- Political Geography:
- Iraq and Middle East
19. Why Most Communities in Zimbabwe Are Embracing the Right2SayNo
- Author:
- Farai Maguwu
- Publication Date:
- 09-2022
- Content Type:
- Working Paper
- Institution:
- Brown Journal of World Affairs
- Abstract:
- A new scramble for Africa’s natural resources is leaving communities more impoverished, oppressed, and traumatized. Enriching the ruling elites and mul- tinational corporations, the withdrawal of natural resources from the Earth con- tributes to land and water grabs, violence, intimidation, desecration of cultural heritage sites, pollution of water sources, and poverty in communities hosting natural resources. Whereas exploitation of natural resources is expected to boost local economies and improve livelihoods, the lived realities of host communities in Zimbabwe demonstrate that living standards decline when natural resource extraction occurs. There is often trading of accusations between government and extractive industries on the problem of whose responsibility it is to develop resource-rich communities. Corruption and a rent-seeking culture have weakened governance, leading to social stratification, class formations, and entrenched autocratic rule. Access to resource rents is also turning the focus of government away from other more sustainable sectors of the economy, such as agriculture, manufacturing, and tourism. This paradox of plenty, also known as the resource curse, confirms the long-held view that countries with abundant natural resource reserves are prone to poverty, confliict, and poor governance. In these countries, natural resources are sometimes used to finance violence, repression, and rigged elections.
- Topic:
- Corruption, Natural Resources, Elites, Value Extraction, and Rent-seeking
- Political Geography:
- Africa and Zimbabwe
20. How China’s Foreign Aid Fosters Social Bonds With Central Asian Ruling Elites
- Author:
- Nargis Kassenova
- Publication Date:
- 12-2022
- Content Type:
- Working Paper
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- China has become a global power, but there is too little debate about how this has happened and what it means. Many argue that China exports its developmental model and imposes it on other countries. But Chinese players also extend their influence by working through local actors and institutions while adapting and assimilating local and traditional forms, norms, and practices. With a generous multiyear grant from the Ford Foundation, Carnegie has launched an innovative body of research on Chinese engagement strategies in seven regions of the world—Africa, Central Asia, Latin America, the Middle East and North Africa, the Pacific, South Asia, and Southeast Asia. Through a mix of research and strategic convening, this project explores these complex dynamics, including the ways Chinese firms are adapting to local labor laws in Latin America, Chinese banks and funds are exploring traditional Islamic financial and credit products in Southeast Asia and the Middle East, and Chinese actors are helping local workers upgrade their skills in Central Asia. These adaptive Chinese strategies that accommodate and work within local realities are mostly ignored by Western policymakers in particular. Ultimately, the project aims to significantly broaden understanding and debate about China’s role in the world and to generate innovative policy ideas. These could enable local players to better channel Chinese energies to support their societies and economies; provide lessons for Western engagement around the world, especially in developing countries; help China’s own policy community learn from the diversity of Chinese experience; and potentially reduce frictions.
- Topic:
- Foreign Policy, Foreign Aid, and Elites
- Political Geography:
- China, Central Asia, and Asia