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Public Affairs, Public Policy and Public Administration

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2015

Law and Society

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The Conservatives’ 2015 Fiscal Charter: A Wanting Desire For Constitutional Change, Brian Christopher Jones, Paolo Sandro Oct 2015

The Conservatives’ 2015 Fiscal Charter: A Wanting Desire For Constitutional Change, Brian Christopher Jones, Paolo Sandro

Brian Christopher Jones

The UK Conservatives’ "Charter for Budget Responsibility" has, with the aid of a number of Labour MPs, passed the House of Commons. The charter's intention is that of committing the current and future Governments into running a permanent budget surplus – a sinister attempt to bind future governments as regards fiscal policy. Its inconsistency with the opposition against the EU Fiscal Compact in 2011/12 exposes, though, how much the Conservative's desire to constitutionalize fiscal surplus policy in the UK is wanting.

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Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova Jun 2015

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova

Saule T. Omarova

The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …

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