Economic Policy Commons^™

The Persistent Problem: Inequality, Difference, And The Challenge Of Development, Aseema Sinha, John Echeverri-Gent, Leslie Elliott Armijo, Marc Blecher, Daniel Brumberg, Valerie Bunce, Kiren A. Chaudhry, John W. Harbeson, Evelyne Huber, Bronwyn Leebaw, Susanne Hoeber Rudolph, Loren Ryter, Susan L. Woodward

CMC Faculty Publications and Research

This report highlights the complex, multidimensional nature of inequality in the era of globalization. It documents that despite the impressive strides by nations like China and India, absolute inequality between the richest and poorest countries is greater than ever before in history. It demonstrates that the rise of China and India creates a new dimension to the persistent problem of inequality.

Call To Action: A Pay Equity Resource Guide, Kacie Kelly

Publications from the Center for Women in Politics and Public Policy

Women continue to enter the workforce at record levels and laws on the state and federal levels prohibit gender discrimination in the workplace. Yet employment discrimination persists and women’s wages remain lower than men’s wages for comparable positions and occupations. With the 2005 publication of GETTING EVEN: Why Women Don’t Get Paid as Much as Men and What To Do About It by Economist and former Massachusetts Lieutenant Governor Evelyn Murphy, the issue of wage equity is finally receiving the widespread and sustained attention it deserves.

This resource guide provides an overview of the issues related to the wage gap …

Agency Costs, Charitable Trusts, And Corporate Control: Evidence From Hershey's Kiss-Off, Jonathan Klick, Robert H. Sitkoff

All Faculty Scholarship

In July 2002 the trustees of the Milton Hershey School Trust announced a plan to diversify the Trust’s investment portfolio by selling the Trust’s controlling interest in the Hershey Company. The Company’s stock jumped from $62.50 to $78.30 on news of the proposed sale. But the Pennsylvania Attorney General, who was then running for governor, opposed the sale on the ground that it would harm the local community. Shortly after the Attorney General obtained a preliminary injunction, the trustees abandoned the sale and the Company’s stock dropped to $65.00. Using standard event study methodology, we find that the sale announcement …

Low-Wage Workers Really Feel The Squeeze, Randy Albelda

Economics Faculty Publication Series

In the United States, it has been generally assumed that those who held a steady job could make ends meet but in today’s labor market nothing could be further from the truth. Workers in low-wage jobs can face double jeopardy: insufficient income to cover their basic needs and lack of access to job-related benefits to supplement their earnings. Public work supports — programs to help families fill basic needs such as health care, child care, food, and housing — can fill the gaps, and for many, they do. Still, in Massachusetts close to one out of every four individuals in …

On Beyond Calpers: Survey Evidence On The Developing Role Of Public Pension Funds In Corporate Governance, Stephen Choi, Jill E. Fisch

All Faculty Scholarship

No abstract provided.

Guest Workers And Justice In A Second-Best World, Howard F. Chang

All Faculty Scholarship

This essay offers a defense of guest-worker programs and a critique of the objections raised by Michael Walzer and by other critics of such programs. Although critics commonly complain that guest workers are vulnerable to exploitation by employers, we can design guest-worker programs that minimize the risk of such exploitation. Ready access for relatively unskilled guest workers to citizenship and to public benefits, however, generates a fiscal burden for the public treasury. A right to equal treatment for aliens yields perverse results unless aliens are also entitled to equal concern when the host country decides whether to admit the alien …

Shareholder Primacy's Corporatist Origins: Adolf Berle And The Modern Corporation, William W. Bratton, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

Private Equity's Three Lessons For Agency Theory, William W. Bratton

All Faculty Scholarship

No abstract provided.

The Disadvantages Of Immigration Restriction As A Policy To Improve Income Distribution, Howard F. Chang

All Faculty Scholarship

In this Article, I argue that tax and transfer policies are more efficient than immigration restrictions as instruments for raising the after tax incomes of the least skilled native workers. Policies to protect these native workers frol1'l immigrant competition in the labor market do no better at promoting distributive justice and are likely to impose a greater economic burden on natives in the country of immigration than the tax alternative. These immigration restrictions are especially costly given the disproportionate burden that they place on households with working women, which discourages fel1'wle participation in the labor force. This burden runs contrary …