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1271. Blame Sarbanes-Oxley

Author:
Peter J. Wallison
Publication Date:
09-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
An array of stimulus factors has failed to generate strong growth in the U.S. economy. That may largely be a consequence of the Sarbanes-Oxley Act and the stock exchange regulations it has spawned, which have altered the composition and dynamics of corporate boards in ways that discourage risk-taking.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
United States

1272. A Fairer Tax Deal for All America's Companies

Author:
R. Glenn Hubbard
Publication Date:
09-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Corporate tax reform, which is gaining momentum in Congress, should focus on improving the competitiveness of U.S. firms operating abroad. A key aspect of that objective is to avoid double taxation.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
United States

1273. The Neoconservative Persuasion

Author:
Iriving Kristol
Publication Date:
09-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Since its origin among disillusioned liberal intellectuals in the 1970s, neoconservatism has been an intellectual undercurrent that surfaces only intermittently and one whose meaning is glimpsed only in retrospect. It has flowered again of late, and President George W. Bush and his administration seem to be at home in the political environment created by neoconservatism's renaissance.
Topic:
International Relations, Foreign Policy, Democratization, and Economics

1274. Repressing ROTC

Author:
Christina Hoff Sommers
Publication Date:
08-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The distaste of top-tier schools for the military is powerfully demonstrated when faculties deny the Reserve Officer Training Corps (ROTC) access to the campus. Most privately funded institutions receive substantial funds from the federal government, and the government is under no moral or legal obligation to continue subsidizing institutions that create hostile environments for the nation's cadets, soldiers, and veterans. Liberal arts colleges should be presented with the choice of lifting the ban on ROTC or losing government support.
Topic:
International Relations, Foreign Policy, Democratization, and Economics

1275. Lessons of Operation Iraqi Freedom

Author:
Richard Perle
Publication Date:
08-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The war in Iraq has demonstrated the significance of strong, decisive government leadership, bold military tactics coupled with advanced technology, and the possibility of spreading freedom and democracy throughout the Arab world.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
Iraq, Middle East, and Arabia

1276. Understanding the Role of the United States in the Global Economy

Author:
Kevin A. Hassett and James K. Glassman
Publication Date:
08-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Critics of globalization and America's dominant economic position fail to recognize that the primary beneficiaries of globalization are developing countries, many of which run substantial trade surpluses with the United States. Far from being a predator in the world economy, America offers an invaluable market to the developing world.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
United States and America

1277. How to Balance a $43 Trillion Checkbook

Author:
Jagadeesh Gokhale and Kent Smetters
Publication Date:
08-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Current government accounting practices fail to grasp the future economic consequences of Social Security and Medicare. Necessary reforms of these entitlement programs will be thwarted unless policymakers take account of these long-term implications.
Topic:
International Relations, Foreign Policy, Democratization, and Economics

1278. The High Price of Cheap Drugs

Author:
John E. Calfee
Publication Date:
07-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Congress is considering whether to allow pharmaceuticals exported by American manufacturers to be reimported into the United States. Reimportation would mean importing foreign price controls, which would destroy the pricing structure of the U.S. drug market and have disastrous consequences for future drug research and development.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
United States and America

1279. The YUKOS Affair

Author:
Leon Aron
Publication Date:
09-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In the early morning of October 25, 2003, masked agents of the Russian security agency, the FSB, stormed the plane of Mikhail Khodorkovsky, CEO and principal owner of Russia's largest private oil company, YUKOS; arrested him; and conveyed him to a Moscow prison. He was charged with tax evasion, fraud, forgery, and embezzlement.
Topic:
Democratization, Economics, and Emerging Markets
Political Geography:
Russia, Europe, and Asia

1280. European Corporate Governance Reform and the German Party Paradox

Author:
Martin Höpner
Publication Date:
08-2003
Content Type:
Working Paper
Institution:
Minda de Gunzburg Center for European Studies, Harvard University
Abstract:
This paper addresses the current discussion on links between party politics and production regimes. Why do German Social Democrats opt for more corporate governance liberalization than the CDU although, in terms of the distributional outcomes of such reforms, one would expect the situation to be reversed? I divide my analysis into three stages. First, I use the European Parliament's crucial vote on the European takeover directive in July 2001 as a test case to show that the left-right dimension does indeed matter in corporate governance reform, beside cross-class and cross-party nation-based interests. In a second step, by analyzing the party positions in the main German corporate governance reforms in the 1990s, I show that the SPD and the CDU behave “paradoxically” in the sense that the SPD favored more corporate governance liberalization than the CDU, which protected the institutions of “Rhenish,” “organized” capitalism. This constellation occurred in the discussions on company disclosure, management accountability, the power of banks, network dissolution, and takeover regulation. Third, I offer two explanations for this paradoxical party behavior. The first explanation concerns the historical conversion of ideas. I show that trade unions and Social Democrats favored a high degree of capital organization in the Weimar Republic, but this ideological position was driven in new directions at two watersheds: one in the late 1940s, the other in the late 1950s. My second explanation lies in the importance of conflicts over managerial control, in which both employees and minority shareholders oppose managers, and in which increased shareholder power strengthens the position of works councils.
Topic:
Democratization, Government, and Politics
Political Geography:
Europe and Germany