More in Global Economy

6 days

Is Opposition to Immigration Primarily Economic or Cultural?

It's clear that there is a considerable hostility to immigration, both in the United States and across much of Europe. Is that opposition rooted primarily in economic factors or in cultural factors? What kind of evidence could help answer the question?

7 days

Is Trade Still a Viable Path to Development? World Development Report 2020

Many of the world's development success stories in recent decades followed a broadly similar pattern. The countries became more involved with the world economy, often by exporting manufactured goods produced by low-wage workers. The rise in exports brought economic growth and income to their economics, but perhaps just as important, it also helped to foster a range of managerial, financial and technological skills. In this way, exporting was a fundamental step on the path to economic development.

10 days

Minimum Wages and Overtime Rules

Perhaps the best-known provision of the Fair Labor Standards Act (FLSA) of 1938 is that it set a federal minimum wage for the first time. In addition, this is the law that established the overtime rule that if you are a "nonexempt" work--which basically means a worker paid by the hour rather than on a salary--then if you work more than 40 hours/week you must be paid time-and-a-half for the additional hours. 

14 days

The Roundup Case: Problems with Implementing Science-Based Policy

Imagine, just for the sake of argument, that you are open-minded about the question of whether the weed-killer Roundup (long produced by Monsanto, which was recently acquired by Bayer AG) causes cancer. You want to make a decision based on scientific evidence. However, you aren't a scientist yourself, and you don't feel competent at trying to read scientific studies.

14 days

India: Will RCEP Take Re-Shape?

India’s decision to stay out of Regional Comprehensive Economic Partnership (RCEP) has been lauded by Indian media, while some declaring India as the winner for the time being. Paradoxically, South-Eastern media found to be critical on India’s move, some have gone to the extent of declaring China as the ultimate winner. Most of the analysts view RCEP as a pseudo battle between China and India, therefore they artificially declare a winner. Classical trade theories advocate free trade based on the basic principle –‘trade a positive sum-game’. So, declaring a winner goes against the fundamental principle of global trade.

16 days

No Savings Gluts in the Eurozone

World debt at $250 trillion is 3x global GDP – an all-time record. If we include unfunded liabilities and derivatives, total debts and liabilities would amount to over 25x global GDP.

21 days

The Hearing Aid Example: Why Technology Doesn't Reduce Trade

Will the new technologies of 3D printing and robotics lead to a reduction in international trade? After all, if countries can use 3D printing and robotics to make goods at home, why import from abroad?