Social and Behavioral Sciences Commons^™

Seniorpreneurs: The New Aspect Of Retirement, Valentina Cordero

Capstones

In the U.S., entrepreneurs ages 55 to 64 increased by almost 5 percent in the last decade, while the young generation saw a decline. People 55 and older want something new than a traditional employment. They feel more confident in their ability to open businesses.

Decomposing Poverty Change: Within- And Between-Group Effects, Srijit Mishra

Srijit Mishra

This slide share explains the method of 'Decomposing Poverty Change: Deciphering Change in Total Population and Beyond' published in the Review of Income and Wealth.

Three (Potential) Pillars Of Transnational Economic Justice: The Bretton Woods Institutions As Guarantors Of Global Equal Treatment And Market Completion, Robert C. Hockett

Robert C. Hockett

This essay aims to bring two important lines of inquiry and criticism together. It first lays out an institutionally enriched account of what a just world economic order will look like. That account prescribes, via the requisites to that mechanism which most directly instantiate the account, three realms of equal treatment and market completion - the global products, services, and labor markets; the global investment/financial markets; and the global preparticipation opportunity allocation. The essay then suggests how, with minimal if any departure from familiar canons of traditional international legal mandate interpretation, each of the Bretton Woods institutions - particularly the …

Reflective Intensions: Two Foundational Decision-Points In Mathematics, Law, And Economics, Robert C. Hockett

Robert C. Hockett

This Article, transcribed from a symposium talk given by the author, examines two critical junctures at which foundational decisions must be made in three areas of theoretical inquiry - mathematics, law, and economics. The first such juncture is that which the Article labels the "arbitrary versus criterial choice" juncture. This is the decision point at which one must select between what is typically called an "algorithmic," "principled," "law-like," or "intensionalist" understanding of those concepts which figure foundationally in the discipline in question on the one hand, and a "randomized," "combinatorial," or "extensionalist" such understanding on the other hand. The second …

From Macro To Micro To “Mission-Creep”: Defending The Imf’S Emerging Concern With The Infrastructural Prerequisites To Global Financial Stability, Robert C. Hockett

Robert C. Hockett

Charges that the IMF has been engaging in "mission creep," gradually taking on a growing number of activities that exceed its constitutive mandate, have grown both in vehemence and in frequency since the late 1990s. I argue that, what ever the substantive merits of its actions, the IMF's developing attention to the structural determinants of global financial stability is not ultra vires. The Fund's evolving role was both foreseen and constitutionally provided for, both at its founding and at the principal constitutive Articles-amending "moments" since.

Toward A Global Shareholder Society, Robert C. Hockett

Robert C. Hockett

With the American economy seemingly stalling, the global economy thereby imperiled, and another electoral campaign season well underway in the U.S., the "outsourcing" of jobs from the developed to the developing world is again on the public agenda. Latest figures indicate not only that layoffs and claims for joblessness benefits are up in the U.S., but also that the rate of American job-exportation has more than doubled since the last electoral cycle. This year's American political candidates have been quick to take note. In consequence, more than at any time since the early 1990s, continued American, and with it other …

Pareto Versus Welfare, Robert C. Hockett

Robert C. Hockett

Many normatively oriented economists, legal academics and other policy analysts appear to be "welfarist" and Paretian to at least moderate degree: They deem positive responsiveness to individual preferences, and satisfaction of one or more of the familiar Pareto criteria, to be reasonably undemanding and desirable attributes of any social welfare function (SWF) employed to formulate social evaluations. Some theorists and analysts go further than moderate welfarism or Paretianism, however: They argue that "the Pareto principle" requires the SWF be responsive to individual preferences alone - a position I label "strict" welfarism - and conclude that all social evaluation should in …

Bailouts, Buy-Ins, And Ballyhoo, Robert C. Hockett

Robert C. Hockett

The bailout strategy now being pursued by Treasury under the recently authorized Troubled Asset Relief Plan, if “strategy” it can be called, remains obscure and erratic at best. All the while markets remain jittery and credit remains tight, as the underlying source of our present financial jitters—continued decline in the housing market and still mounting foreclosures—goes unaddressed. This piece proposes an interesting and novel approach to solving the financial problem. If it works out, it would eventually minimize the cost to the government.

Taking Distribution Seriously, Robert C. Hockett

Robert C. Hockett

It is common for legal theorists and policy analysts to think and communicate mainly in maximizing terms. What is less common is for them to notice that each time we speak explicitly of socially maximizing one thing, we speak implicitly of distributing another thing and equalizing yet another thing. We also, moreover, effectively define ourselves and our fellow citizens by reference to that which we equalize; for it is in virtue of the latter that our social welfare formulations treat us as “counting” for purposes of socially aggregating and maximizing. To attend systematically to the inter-translatability of maximization language on …

Whose Ownership? Which Society?, Robert C. Hockett

Robert C. Hockett

The idea of an "ownership society" (OS) is not new to American politics or law. It might be called the seventeen year cicada of American domestic policy - emerging once per generation onto the national agenda, generating just a bit of buzz, then receding once again to leave a mass of empty shells and buried eggs behind. Unlike the insects, however, OS proposals seldom have sounded the same notes to everyone's ears. They have been proffered to or on behalf of differing constituencies for differing reasons, and therefore have tended to mean different things to different people. It is tempting …

What Kinds Of Stock Ownership Plans Should There Be? Of Esops, Other Sops And "Ownership Societies", Robert C. Hockett

Robert C. Hockett

Present-day advocates of an ownership society (OS) do not seem to have noticed the means we have already employed to become an OS where homes and human capital (higher education) are concerned. Nor do they appear to have considered whether these same means - which amount to publicly enhanced private credit markets - might be employed to spread shares in business firms, with a view to completing our OS. This article, the third in a series, seeks tentatively to fill that gap. It does so first by demonstrating how the Employee Stock Ownership Plan, or ESOP, in effect replicates our …

From "Mission-Creep" To Gestalt Switch: Justice, Finance, The Ifis, And Globalization's Intended Beneficiaries, Robert C. Hockett

Robert C. Hockett

This essay suggests means by which the international financial institutions (IFIs), the IBRD and the IMF in particular, and indeed "globalization" more generally might be rendered more friendly to humanity. The key, it suggests, lies in a subtle shift in perspective, a "gestalt-switch": It is to move from thinking in terms of political and macroeconomic aggregates - nations and gross national products - to thinking in terms of the individuals who constitute nations and produce national products - those the essay calls the "intended beneficiaries" of globalization. Thinking in terms of those beneficiaries and their equal claims to our concern …

Minding The Gaps: Fairness, Welfare, And The Constitutive Structure Of Distributive Assessment, Robert C. Hockett

Robert C. Hockett

Despite over a century’s disputation and attendant opportunity for clarification, the field of inquiry now loosely labeled “welfare economics” (WE) remains surprisingly prone to foundational confusions. The same holds of work done by many practitioners of WE’s influential offshoot, normative “law and economics” (LE). A conspicuous contemporary case of confusion turns up in recent discussion concerning “fairness versus welfare.” The very naming of this putative dispute signals a crude category error. “Welfare” denotes a proposed object of distribution. “Fairness” describes and appropriate pattern of distribution. Welfare itself is distributed fairly or unfairly. “Fairness versus welfare” is analytically on all fours …

Just Insurance Through Global Macro-Hedging: Information, Distributive Equity, Efficiency, And New Markets For Systemic-Income-Risk-Pricing And Systemic-Income-Risk-Trading In A New Economy, Robert C. Hockett

Robert C. Hockett

This article considers the prospects for exploiting (a) several deep conceptual linkages between justice and insurance, (b) the rapid development of new hedging methods and technologies, and (c) an increasingly integrated global finance economy, in a manner that can render the global economy both more just and more prosperous. It first derives an account of economic justice from the best known theories currently in the field – an account likely to enjoy broad appeal. The article then elaborates on a number of striking parallels between what it takes for the best account of justice on the one hand, the theory …

Task-Specific Human Capital Accumulation And Wage Outcomes Among Young Men: An Empirical Analysis, Morgan Holland

Theses and Dissertations

Existing literature suggests that investment in different kinds of task-specific human capital may have significant effects on wage outcomes and overall economic wellbeing of individuals. To examine this claim, the accumulation of task-specific human capital in young male workers with no college education and its effects on wages is measured. Using National Longitudinal Survey of Youth panel data merged with six task-specific human capital measures derived from the Dictionary of Occupational Titles task contents data, fixed effects regression was utilized to measure how workers’ taskspecific human capital develops over time. This process shows that among the task measures used, accumulation …

China-Based Industrial Espionage, Joel Savary

Student Scholar Symposium Abstracts and Posters

On Oct 8, 2014 China has surpassed the United States as the world’s largest economy in terms of Purchasing Power Parity (PPP)” (IMF). My paper explores one of the instances of unlawful business practices that have contributed to China’s new world position. China based espionage undercuts American businesses and U.S. foreign policy directly, causing catastrophic economic implications for America, its businesses, and its allies. The U.S. government is grappling with the means and methods China uses to disseminate information stolen from U.S. businesses to support China based industries. Due to the lack of transparency in China, it has been difficult …

Nông Thôn Mới And Rural Development In The Mekong Delta: A Comparative Study Of Bàu Môn And Hòa Phụng C Hamlets, Alex Lintz

Independent Study Project (ISP) Collection

Vietnam’s Nông Thôn Mới or New Rural Development program is a relatively new target program introduced in 2010. As of yet there has been little research done on its effects on the economies in rural areas. This paper attempts to analyze the economic situation in the Bàu Môn and Hòa Phụng C hamlets with a particular emphasis placed on income and factors that affect income in terms of Vietnam’s Nông Thôn Mới or New Rural Development program. In order to assess the economic situation in the hamlets, a survey was administered to 25 participants in each hamlet and leaders from …

Preliminary 2014 Montana Nonresident Traveler Expenditures And Economic Contribution, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the 2014 preliminary economic contributions, expenditures, and average daily spending of nonresident visitors to Montana.

Three Essays On The Economics Of Defense Contracting, Output And Income Inequality, Edward M. Decambra

FIU Electronic Theses and Dissertations

This dissertation analyzes both the economics of the defense contracting process and the impact of total dollar obligations on the economies of U.S. states. Using various econometric techniques, I will estimate relationships across individual contracts, state level output, and income inequality. I will achieve this primarily through the use of a dataset on individual contract obligations.

The first essay will catalog the distribution of contracts and isolate aspects of the process that contribute to contract dollar obligations. Accordingly, this study describes several characteristics about individual defense contracts, from 1966-2006: (i) the distribution of contract dollar obligations is extremely rightward skewed, …

The Internet Is The New Public Forum: Why Riley V. California Supports Net Neutrality, Adam Lamparello

Adam Lamparello

Technology has ushered civil liberties into the virtual world, and the law must adapt by providing legal protections to individuals who speak, assemble, and associate in that world. The original purposes of the First Amendment, which from time immemorial have protected civil liberties and preserved the free, open, and robust exchange of information, support net neutrality. After all, laws or practices that violate cherished freedoms in the physical world also violate those freedoms in the virtual world. The battle over net neutrality is “is absolutely the First Amendment issue of our time,” just as warrantless searches of cell phones were …

Power America's — And Nevada's — Advanced Industries: State By State, Region By Region, Mark Muro

Brookings Scholar Lecture Series

With the U.S. economy still flat, economic experts and leaders continue to search for the next source of U.S. and regional growth. One key component of the next era of prosperity can be projected: It is what the Brookings Metropolitan Policy Program calls the advanced industry (AI) sector. The nation’s most strategic R&D — and STEM worker intensive industries, AIs like aerospace and IT are prime movers of regional and national prosperity, because they are key sources of technology innovation and generate domestic and international exports. Accordingly, the AI swatch of 50 discrete industries has emerged as an important new …

Measuring Risk In Business And Economics: Possibility Of Loss Or Dispersion Of Outcomes?, Shyam Sunder

Shyam Sunder

No abstract provided.

How Can Public Health Economics Help Health Systems Focus Upstream?, Glen P. Mays

Health Management and Policy Presentations

Research on the health and economic impact of public health strategies can help newly evolving health care delivery systems focus on upstream health determinants and make evidence-informed decisions about resource allocation across the prevention-treatment spectrum. Examples from research underway in the U.S. have particular relevance for Canada's evolving regional health authorities and their integrated approaches to medical care and public health delivery.

Governmental Public Health And The Economics Of Adaptation To Population Health, Glen P. Mays

Health Management and Policy Presentations

Research on the organization and financing of public health strategies offers valuable insight for governmental public health agencies seeking to adapt to a population health improvement perspective under health system reform.

Ce Fall 2014, Coyote Economist

Coyote Economist

Inside this Issue
We're on Facebook................2
Staying Informed....................3
Winter Schedule.....................4
Tentative Spring Schedule.....4

Willingness To Overpay For Insurance And For Consumer Credit: Search And Risk Behavior Under Price Dispersion, Sergey V. Malakhov

Sergey Malakhov

Nuclear Chain Reaction: Why Economic Sanctions Are Not Worth The Public Costs, Nicholas C.W. Wolfe

Nicholas A Wolfe

International economic sanctions frequently violate human rights in targeted states and rarely achieve their objectives. However, many hail economic sanctions as an important nonviolent tool for coercing and persuading change. In November 2013, the Islamic Republic of Iran negotiated a temporary agreement with major world powers regarding Iran’s nuclear program. The United States’ media and politicians have repeatedly and incorrectly attributed Iran’s willingness to negotiate to the effectiveness of economic sanctions.

Politicians primarily focus on immediate domestic effects and enact sanctions without a thorough understanding of the long-term effects on the United States economy and the public within a targeted …

Governing For The Corporations: History And Analysis Of U.S. Promotion Of Foreign Investment, Michael R. Miller

Michael R Miller

This paper explores and analyzes U.S. government support for foreign investors, especially major oil companies.

Throughout the 20th Century the US government has repeatedly used its international political influence to benefit US corporate activities abroad. The US government and others assumed initially that this was in the larger interests of the United States because US companies would represent and promote the United States’ policy agenda.

However, US corporate activities abroad over the last century seem to indicate this assumption was flawed. In numerous examples, US corporations have either ignored or thwarted the stated interests of the US government. At first …

The Ciudades Modelo Project: Testing The Legality Of Paul Romer’S Charter Cities Concept By Analyzing The Constitutionality Of The Honduran Zones For Employment And Economic Development, Michael R. Miller

Michael R Miller

Over the last several years, the Honduran government has been aggressively advancing a "model cities" project that it argues will provide options for its citizens to escape the extreme violence in their country without migrating to the U.S. The model cities, which are formally called "Zones for Employment and Economic Development" ("ZEDEs"), are purported to be autonomously governed areas that will attract foreign investment and compete for residents by establishing safer communities and better managed institutions governed by the rule of law.

The ZEDEs trace their origin to a concept formulated by development economist Paul Romer, who proposed the idea …

Legal And Institutional Remedies For Middle East States Wishing To Develop And Increase Foreign Direct Investment, Griffin Weaver

Griffin Weaver

The cost to overhaul a legal system is astronomical. For example, before and after the fall of the Soviet Union in the 1980’s several states received billions of dollars in loans to help change their “legal systems” and make them more western friendly. A couple of these states were West Germany and Japan, which received roughly 1.5 billion and 2.4 billion USD in loans. Considering most of this money was given in the 1950’s, the value today is probably three times or more those amounts. Without this aid both states would have been unable to make the changes to their …