Political Economy Commons^™

”It May Work In Practice, But Does It Work In Theory? Explaining The Trend Towards “Do-It-Yourself” Economics”, Paul R. Koch

Scholar Week 2016 - present

In 1986, the late David Henderson, the former chief economist at the Organization for Economic Co-Operation and Development (OECD), published a book entitled Innocence and Design: The Influence of Economic Ideas on Policy, which were based on his Reith Lectures from the previous year. In this book, he outlined the elements of a concept which he defined as “do-it-yourself economics,” which emphasized a case-by-case approach to economic policy, as opposed to one that was associated with a comprehensive vision or theory. Some of the following statements constitute examples of “DIY economics” at work:

• Industries or activities can be classified as …

Corruption: A Review Of Issues, Sandra Damijan

Economic and Business Review

This paper provides a historical overview of the concept of corruption, the existing models for studying it, and the main costs that corruption imposes on the economy and society at large. Corruption was first understood as a disturbance of the balance of state power, and later as the immorality of political patronage and favouritism of certain groups. It evolved from the public sphere to the intertwining of the public and private spheres, from a political issue to the intertwining of political and economic issues. The fight against corruption evolved from the maintenance of necessary checks and balances, from moral struggles …

Good Governance: The Path To Development, Eduardo Landaeta

Graduate Research Conference (GSIS)

This paper aims to understand to what extent good governance and effective public policies are aligned in the economic growth of a country. International assistance relies on political-economic analysis to evaluate the donations they can provide to a country. In this regard, good governance of domestic institutions is essential for the efficiency of a country, especially in affiliation with foreign aid. Therefore, a relationship avoiding dependency should be the focus in the short or medium-term.

Complex Global Value Chains And Economic Interdependence: A New Look At The Opportunity Costs Argument, Melle Scholten

Graduate Research Conference (GSIS)

The classical economic interdependence argument states that trade and investment between countries make conflict less likely, because they increase the opportunity costs of war. War means that trade and investment will dry up, to the detriment of society as a whole. The increased opportunity costs of war (vis-`a-vis peace) means war will be less likely to occur between interdependent states. Certain strands of realism have challenged this assertion. They argue that expectations that trade will decline in future can be a strong incentive for initiating conflict. Giving increasing political and economic tensions between the world’s superpowers – the USA and …

U.S. Energy Information Administration Information Resources, Bert Chapman

Libraries Faculty and Staff Presentations

Provides information about the resources produced by U.S. Department of Energy's Energy Information Administration. These resources cover energy statistics for U.S., states, the United States, and foreign countries. They also cover energy products as varied as coal, natural gas, nuclear energy, petroleum, and renewable energy.

Landscape With Invisible Hand, John C. Lyden

Journal of Religion & Film

This is a film review of Landscape With Invisible Hand (2023), directed by Cory Finley.

Unfinished Business, David Mcclough

The Journal of Economics and Politics

No abstract provided.

A More Capacious Concept Of Church, Philip Hackney, Samuel D. Brunson

Articles

United States tax law provides churches with extra benefits and robust protection from IRS enforcement actions. Churches and religious organizations are automatically exempt from the income tax without needing to apply to be so recognized and without needing to file a tax return. Beyond that, churches are protected from audit by stringent procedures. There are good reasons to consider providing a distance between church and state, including the state tax authority. In many instances, Congress granted churches preferential tax treatment to try to avoid excess entanglement between church and state, though that preferential treatment often just shifts the locus of …

A Philosophical And Empirical Investigation Into Buddhist Economics, Hannah Doyle

CMC Senior Theses

There is a growing body of literature on Buddhist economics from a philosophical perspective; however, no work to date has sought to empirically validate it as an effective economic theory at a global scale. In my paper, I draw on the long history of Buddhist metaphysics to construct an account of Buddhist ethics and then proceed to derive a set of Buddhist economic principles. I draw on the World Happiness Report’s methodology to quantitatively demonstrate the relationship between Buddhist economic principles and the psychological wellbeing of a country’s citizens, as measured through their own evaluation of their quality of life …

What Type Of Central Banker Dampens The Political Business Cycle? The Case Of Africa, Christine Strong

Economics Faculty Publications

This article investigates the extent to which central bank independence can help to reduce political business cycles in Africa. Like previous studies, we find evidence of political cycles in our sample of 34 African countries for the period 1980–2018, but our findings show that politicians' ability to manipulate both fiscal and monetary policy depends on the degree of alliance between the fiscal authority and the monetary authority. Indeed, our analysis reveals that the political business cycle worsens when the central banker is an ally whereas a non‐ally central banker is associated with a decrease in the ability of the incumbent …

Sellers’ Inflation, Profits And Conflict: Why Can Large Firms Hike Prices In An Emergency?, Isabella M. Weber, Evan Wasner

Economics Department Working Paper Series

The dominant view of inflation holds that it is macroeconomic in origin and must always be tackled with macroeconomic tightening. In contrast, we argue that the US COVID-19 inflation is predominantly a sellers’ inflation that derives from microeconomic origins, namely the ability of firms with market power to hike prices. Such firms are price makers, but they only engage in price hikes if they expect their competitors to do the same. This requires an implicit agreement which can be coordinated by sector-wide cost shocks and supply bottlenecks. We review the long-standing literature on price-setting in concentrated markets and survey earnings …

Is Democracy Good For Growth? Development At Political Transition Time Matters, Di Sima, Fali Huang

Research Collection School Of Economics

Is democracy a better political regime for economic prosperity than autocracy? This paper shows that the answer depends on the initial economic development level during the democratic transition when the foundation of institutions was laid. Democracy facilitates growth only in countries that already have adequate development at transition time. These countries are more likely to create and sustain growth-enhancing institutions than others. Without appropriate development, democracy does not improve growth; this applies to about 40% of the third-wave democratized countries. These results are based on a sample of 153 countries in 1960–2010 and robust to various specifications and endogeneity issues.

Provisional Measures In Aid Of Arbitration, Ronald A. Brand

Articles

The success of the New York Convention has made arbitration a preferred means of dispute resolution for international commercial transactions. Success in arbitration often depends on the extent to which a party may secure assets, evidence, or the status quo between parties prior to the completion of the arbitration process. This makes the availability of provisional measures granted by either arbitral tribunals or by courts fundamental to the arbitration. In this Article, I consider the existing legal framework for provisional measures in aid of arbitration, with particular attention to the sources of the rules providing for such measures. Those sources …

Governing Smart Cities As Knowledge Commons - Introduction, Chapter 1 & Conclusion, Brett M. Frischmann, Michael J. Madison, Madelyn Sanfilippo

Book Chapters

Smart city technology has its value and its place; it isn’t automatically or universally harmful. Urban challenges and opportunities addressed via smart technology demand systematic study, examining general patterns and local variations as smart city practices unfold around the world. Smart cities are complex blends of community governance institutions, social dilemmas that cities face, and dynamic relationships among information and data, technology, and human lives. Some of those blends are more typical and common. Some are more nuanced in specific contexts. This volume uses the Governing Knowledge Commons (GKC) framework to sort out relevant and important distinctions. The framework grounds …

Presidential Economic Approval Rating And The Cross-Section Of Stock Returns, Zilin Chen, Zhi Da, Dashan Huang, Liyao Wang

Research Collection Lee Kong Chian School Of Business

We construct a monthly presidential economic approval rating (PEAR) index from 1981 to 2019, by averaging ratings on the president’s handling of the economy across various national polls. In the cross-section, stocks with high betas to changes in the PEAR index significantly under-perform those with low betas by 1.00% per month in the future, on a risk-adjusted basis. The low PEAR beta premium persists up to one year, and is present in various sub-samples and even in other G7 countries. PEAR beta dynamically reveals a firm’s perceived alignment to the incumbent president’s economic policies and investors seem to misprice such …

In Defense Of Liberty: Social Order & The Role Of Government, Dylan J. Conrad

Honors Theses (PPE)

This thesis seeks to address some of the most central questions to the fields of political philosophy and political economy. First, how can social order and government rationally develop out of anarchy? Next, what acts of force, if any, are morally permissible for the State to perform in its relations with individuals, so as to maintain political legitimacy? Lastly, what policies ought the State implement to achieve the best welfare outcomes for a society? This thesis will first show that a laissez-faire capitalist social order can spontaneously emerge from a purely self-interested State of Nature, with the institution of government …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

Should I Stay Or Should I Go: The Impact Of Crossing Migrants In Local Communities In Mexico, Norma M. De La Rosa-Bustamante

Whittier Scholars Program

The interactions between migrants and Mexican local communities have positive and negative outcomes. A report by Human Rights First found that more than 630 violent crimes against asylum seekers were reported in the first few months of the “Remain in Mexico” policy. Still, some migrants have been able to assimilate and stay in Mexico, particularly in large cities such as Tijuana, Baja California and Ciudad Juarez, Chihuahua. This research project combines qualitative data collected through interviews with local NGOs between September 2020 to February 2021 and secondary research data. It focuses on the living conditions of migrants who have stayed …

Money Moves: An Analysis Of Chinese Foreign Direct Investment In Europe, Susan Soh

Honors Theses

In recent years, China has begun engaging in outward foreign direct investment (FDI). There is a significant amount of literature dedicated to understanding China’s FDI in developing nations. However, very little research has been conducted over Chinese FDI in advanced economies. As a result of this gap in existing literature, the question arises, what explains Chinese FDI in Europe?

As FDI is a transaction to which both the donor and recipient countries must agree, this thesis has a dual focus. One chapter of the thesis analyzes the effects of and motivations for Chinese FDI on European nations. In this chapter, …

Voting Rules And Properties, Zhuorong Mao

Undergraduate Honors Theses

This thesis composes of two chapters. Chapter one considers the higher order of Borda Rules (Bp) and the Perron Rule (P) as extensions of the classic Borda Rule. We study the properties of those vector-valued voting rules and compare them with Simple Majority Voting (SMV). Using simulation, we found that SMV can yield different results from B1, B2, and P even when it is transitive. We also give a new condition that forces SMV to be transitive, and then quantify the frequency of transitivity when it fails.

In chapter two, we study the `protocol paradox' of approval voting. In approval …