Political Economy Commons^™

Belgium’S 2008 Recentralization Of Wage-Setting Mechanisms And The Decentralization-Unit Labor Costs-Net Exports Link: Chronicle Of A Death Foretold?, Ines Pedro Fernandes

Undergraduate Economic Review

Anchored on scholarly literature on international competitiveness and the classical definition of competitiveness as net exports, policy making institutions support decentralized wage-setting mechanisms. The rationale is that decentralized wage-setting systems lower wages and unit labor costs (ULC) and, therefore, increase net exports. This paper contains a literature review on the wage-setting–ULC–net exports link and challenges conventional rationales by examining the co-evolution of Belgium’s real wages and net exports across wage percentiles and sectors. Belgium is a case in point, since the country experienced both increasing real wages and increasing net exports after recentralizing wage-setting mechanisms in 2008.

Sacrifices For Development Or Thirst For Capital Accumulation? Case Study On The “El Diquís Hydroelectric Dam” In Costa Rica., Marco Mora

Sustainability and Social Justice

Costa Rica’s state-led model of energy generation based on large-scale investments in hydropower has given the country autonomy in generating its own energy as well as sovereignty over its natural resources. Successive governments have used nationalist and ecological discourses to support the continued expansion of hydropower as the path to economic development. In more recent decades however, a number of factors have been eroding the dominance of the state-led hydropower development model. Some of those elements are the national and international pressures to liberalize and privatize the energy sector, an increasing body of scientific evidence indicating that large-scale hydropower in …

Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Austerity For All Seasons: Communicating On The Economy In Ireland, Brendan O'Rourke, John Hogan, Joseph K. Fitzgerald

Conference papers

What is clear is that in Ireland it has been a good crisis for economists, in the sense that the status and power of the profession has increased, especially in public discourse and state bureaucracy. This is not to deny that the academic critique and public questioning of the status of economics, that has followed the failure of the profession internationally prior to the crisis. It would be interesting to see if the rise of economists status has taken place in other countries and if there is a pattern to the profession’s fortunes in its different fields across, for example …

Neoliberal Urbanism As ‘Strategic Coupling’ To Global Chains: Port Infrastructure And The Role Of Economic Impact Studies, David Jaffee

Showcase of Faculty Scholarly & Creative Activity

Abstract This paper identifies and delineates a variant of neoliberal urbanism that grounds city-region economic development on the ability to gain financial and public support for large-scale infrastructure projects advancing particular forms of capital accumulation. More specifically, the focus is on the effort of city-regions to strategically exploit and expand geographic and physical assets to capture economic benefits associated with global value chains through the expansion of maritime ports. This development strategy requires sizable public investments in port infrastructure. In order to justify and convince the public and political officials of the wisdom of such investments, port officials commission economic …

“The Current Crisis Of Us Neoliberal Capitalism And Prospects For A New ‘Social Structure Of Accumulation’.”, David Jaffee

Showcase of Faculty Scholarly & Creative Activity

Wage squeeze/profit squeeze crisis theories provide a powerful framework for the historical analysis of US capitalist crises and the alternating demand-side and supply-side social structures of accumulation (SSA). However, the current neoliberal SSA would seem to defy the logic of this model in its persistence in the face of a deep financial crisis and a failure to realize its espoused objectives. This paper reviews this theoretical model of economic crises, its relationship to and viability alongside the rise and establishment of neoliberalism, and some of the political and economic obstacles that would seem to prevent the construction of a new …

Disarticulation And The Crisis Of Neoliberalism In The United States, David Jaffee

Showcase of Faculty Scholarly & Creative Activity

Neoliberal policies instituted since the 1980s have transformed the United States economy in ways that have produced serious structural distortions in the basic operation of capitalism. Using Samir Amin’s concept of disarticulation, previously applied exclusively to the periphery of the world economy, this article argues that the twin and mutually reinforcing features of neoliberalism – global corporate restructuring and financialization – have now generated disarticulation in the core nations. This disarticulated structure is responsible for the economic stagnation and sharply unequal income/wealth distributional outcomes that characterize contemporary U.S. capitalism.

Is Authoritarianism Bad For The Economy? Ask Venezuela – Or Hungary Or Turkey, Nisha Bellinger, Byunghwan Son

Political Science Faculty Publications and Presentations

Democracy is at risk worldwide. And the economy may be, too.

Seventy-one out of the world’s 195 countries saw their democratic institutions erode in recent years, according to the 2018 year-end report by democracy watchdog Freedom House, a phenomenon known as “democratic backsliding.” Signs of backsliding include elected leaders who expand their executive powers while weakening the legislature and judiciary, elections that have become less competitive and shrinking press freedom.

Sanctions For Nuclear Inhibition: Comparing Sanctions Conditions Between Iran And North Korea, Inwook Kim, Jung-Chul Lee

Research Collection School of Social Sciences

Whendo sanctions succeed in nuclear inhibition? Is there a generalizable frameworkto estimate sanction effectiveness against nuclear aspirants? Instead ofrelying on partial equilibrium analysis, we conceptualize sanctions as threesequential phases—imposition of economic pain, conversation to politicalpressure, and creation (or failure thereof) of zone of possible agreement(ZOPA). The effectiveness of each phase is subject to phase-specific contextualvariables, an aggregation of which helps measure individual sanction’s effectiveness,conduct cross-case comparison, and estimate one’s replicability in other cases.To illustrate its analytical utility, we analyze the divergent sanctionoutcomes between Iran in 2012-2015 and North Korea 2013-2017. Iran waseconomically more vulnerable, politically less resilient, and its bargainingposition …

Empty Discarded Pack Data And The Prevalence Of Illicit Trade In Cigarettes In California, James Prieger

School of Public Policy Working Papers

Illicit trade in tobacco products (ITTP) creates many harms including reduced tax revenues; damages to the economic interests of legitimate actors; funding for organized-crime and terrorist groups; negative effects of participation in illicit markets, such as violence and incarceration; and reduced effectiveness of smoking-reduction policies, leading to increased damage to health. To study the prevalence of tax avoidance and ITTP, we analyze a large, novel set of data from empty discarded pack (EDP) studies. In EDP studies, teams of researchers collect all cigarette packs discarded in publicly accessible spaces of selected neighborhoods. Packs are examined for the absence of local …

Slogans Appropriate To The Legacy Of Martin Luther King Jr., Theodore Walker

Perkins Faculty Research and Special Events

For printing signs, banners, posters, tee shirts, and bumper stickers (and for preaching sermons) that are appropriate to the legacy of Rev. Dr. Martin Luther King Jr., please consider the following slogans: ABOLISH WAR, ABOLISH POVERTY, AMEND THE CONSTITUTION, SUPPORT AN ECONOMIC BILL OF RIGHTS, JOBS FOR ALL, GUARANTEED INCOME FOR ALL, SUPPORT UNIVERSAL BASIC INCOME, and GOOD NEWS TO THE POOR - Luke 4:14-19.

The Gettysburg Economic Review, Volume 11, Spring 2019

Gettysburg Economic Review

No abstract provided.

Humanomics: Moral Sentiments And The Wealth Of Nations For The Twenty-First Century, Vernon Smith, Bart J. Wilson

Economics Faculty Books and Book Chapters

Sometime in the last 250 years, economists lost sight of the full range of human feeling, thinking, and knowing in everyday life. Smith and Wilson show how Adam Smith's model of sociality can re-humanize twenty-first century economics by undergirding it with sentiments, fellow feeling, and a sense of propriety - the stuff of which human relationships are built. Integrating insights from The Theory of Moral Sentiments and the Wealth of Nations into contemporary empirical analysis, this book shapes economic betterment as a science of human beings.

The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali

Gettysburg Economic Review

This theoretical paper studies the issue of fiscal transparency, which we define as asymmetry of information between the households’ perception of fiscal policy and the actual government balance sheet, in the context of a 24-hour news cycle. We model the economy using the New Keynesian three-equation model to study the effect of fiscal transparency on output, inflation, and especially government debt in order to draw conclusions that are relevant in the realm of policy-making in a sovereign debt crisis scenario. We find that a higher degree of fiscal transparency leads to greater levels of output and inflation as well as …

Mass Atrocities And Their Prevention, Charles H. Anderton, Jurgen Brauer

Economics Department Working Papers

Counting conservatively, and ignoring physical injuries and mental trauma, data show about 100 million mass atrocity-related deaths since 1900. Occurring in war and in peacetime, and of enormous scale, severity, and brutality, they are geographically widespread, occur with surprising frequency, and can be long-lasting in their adverse effects on economic and human development, wellbeing, and wealth. As such, they are a major economic concern. This article synthesizes very diverse and widely dispersed theoretical and empirical literatures, addressing two gaps: a “mass atrocities gap” in the economics literature and an “economics gap” in mass atrocities scholarship. Our goals are, first, for …

A Mobile Solution To Drug Prescription And Dispensation With Privacy Protection For Developing Economies, Kingsley C. Nwosu

Journal for the Advancement of Developing Economies

It is unarguable that many countries within the developing economies have not been able to reap many of the benefits from the innovations in Computer and Information Technologies (CIT) as they pertain to the advances in healthcare delivery systems. The contributing factors to the problems in these countries are multifaceted, such as, ethnic, cultural, environmental, governance, and infrastructural. To address these problems, current efforts have focused mostly on the issues of disease control and management. However, insufficient attention has been given to the concomitant problems of medication (drug / prescription) management especially as they relate to information management between patients, …

Determinants Of Cost Of Treating Water-Borne Diseases Among Rural Households In South West Nigeria, Alaba M. Dare, Idris A. Ayinde, Adebayo M. Shittu, Sammy O. Sam-Wobo, Sakiru O. Akinbode

Journal for the Advancement of Developing Economies

This study determined the factors that influence the economic burden of water-borne diseases and the associated financial cost for rural households in southwestern Nigeria. A multi-stage random sampling method was used to select four hundred and thirty-seven rural households from whom data were collected for the study. Data were analyzed using descriptive statistics and cost of illness approach. The results revealed that an average household had six members with an average quarterly income of N80,717.52 (N160.00 = 1US dollar, at time of study). The sum of N28,571.36 was incurred as economic cost of water-borne diseases per household per quarter in …

All For One Or Each For Her Own: Do Polygamous Families Share And Share Alike?, Kristin Mammen

Journal for the Advancement of Developing Economies

This paper examines whether the mother’s rank (whether she is a senior or junior wife) in polygamous households in Côte d’Ivoire injects favoritism that could lead to differential investment in children (based on mother’s rank), a concern that could cause an inefficient allocation of household resources. The hypothesis is that the younger is a junior wife relative to the senior wife, the greater favoritism she will receive from the husband, and the better her children will fare. This question is analyzed employing Ordinary Least Squares on a Living Standards Measurement Survey microdataset collected by the World Bank. An interesting pattern …

Credit Constraints And Agricultural Productivity Of Rural Households In Nigeria, Olugbenga K. Omolade, Abimbola O. Adepoju

Journal for the Advancement of Developing Economies

This study, employing descriptive statistics and the Endogenous Switching Model, examined the link between credit constrained condition and agricultural productivity of rural households in Nigeria. Findings show that under credit constrained condition, education, labour, technology and other production inputs were not optimally utilized by the households. Credit constrained households had lower productivity than a random household from the sample would have had. However, in credit constrained households, being a male-headed household implied higher productivity. On the other hand, high value of assets and cost of hired labour had negative effects on productivity, while level of education and access to information …

Can Credit Rating Agencies Affect Election Outcomes?, Igor Cunha, Miguel A. Ferreira, Rui C. Silva

Institute for the Study of Free Enterprise Working Papers

We show that credit rating agencies can have a significant effect on election outcomes. We identify these effects by exploiting exogenous variation in municipal bond ratings due to Moody’s recalibration of its scale in 2010. We find that incumbent politicians in upgraded municipalities experience an increase in their likelihood of reelection and their vote shares. These rating upgrades improve voters’ opinions about the incumbent and produce positive wealth effects through voters’ holdings of local municipal bonds. In addition, rating upgrades cause an expansion of local governments’ debt capacity that allows the incumbent to increase spending and improve local economic conditions.