More in Global Economy


4 years

Interview with Cass Sunstein: On Abrupt and Unpredictable Social Change

Consider some examples of social movements that led to rapid change: the French Revolution, Russian revolution/ collapse of Soviet Union, the Iranian revolution, the civil rights movements of the 1960s, the rise of environmentalist movement in the 1960s, Brexit, #MeToo, gay marriage, and others. Robert Wiblin and Keiran Harris at the "80,000 Hours" website have a podcast interview: "Prof. Cass Sunstein on how social change happens, and why it’s so often abrupt & unpredictable" (June 17, 2019). A transcript is also available. 

4 years

Enhancing Federal Tax Collections by $100 Billion Annually

Maybe instead of arguing over whether or how much to raise tax rates on those with high incomes, we could start by making more of an effort to enforce the actual existing tax laws? Natasha Sarin and Lawrence H. Summers explore what's possible in  "Shrinking the Tax Gap: Approaches and Revenue Potential" (Tax Notes, November 18, 2019).

4 years

China's Belt and Road Initiative: Could It All Come Crashing Down?

Brad Parks at the Center for Global Development managed to find a nice way of boiling down the ways that China's Belt and Road Initiative could possibly become a failure and a burden in a short thought experiment ("Chinese Leadership and the Future of BRI: What Key Decisions Lie Ahead?" July 24, 2019). Here's how he describes one possible future a decade from now (I added a couple of paragraph breaks):

5 years

Will China Disrupt The Monetary System With A Cryptocurrency?

A state-owned cryptocurrency is, in itself, a contradiction in terms. The main reason why citizens want to use cryptocurrencies or gold is precisely to avoid the government or central bank monopoly of money.

5 years

Can Job Training Work for Mature Adults?

Most workers learn additional skills throughout their work-life. In that sense, it's obvious that job training in some contexts works for adults. But for many of us, the additional learning happens in the context of remaining in the same job, or at least on the same broad career path. The harder question is whether it's possible to do the kind of job training with adults, perhaps adults who have just experienced a negative shock to their previous job, that jump-starts them on a career path. Paul Osterman offers a useful discussion of these issues in "Employment and training for mature adults: The current system and moving forward" (Brookings Institution Future of the Middle Class Initiative, November 2019). Here are a few themes from his report that stuck with me: 

5 years

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?

5 years

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.

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