In The News

No Break for Globalization

Nayan Chanda March 25, 2008
With unemployment and foreclosures skyrocketing, trade deficit woes, more and more Americans are becoming protectionist. Most Americans agree that foreign trade is reducing the demand for American-made goods, resulting in numerous job losses. While there is no question that trade has played a role in shrinking manufacturing jobs, Nayan Chanda points out that "it is only a minor part of the...

Oil May Not Grease Friendship

Amity Shlaes March 24, 2008
Researchers have long pointed to some correlations in international affairs: Oil countries tend not to be entrepreneurial; nations dependent on one industry, such as oil extraction, tend to be hostile with the US; and entrepreneurial nations tend to befriend the US. But such observations were based largely on anecdotal evidence. In a study for the Council of Foreign Relations, Amity Shlaes and...

World Banker and His Cash Return Home

Jason DeParle March 24, 2008
Remittances, once treated as an insignificant rounding error, eclipse the world’s combined foreign aid by threefold. A migration scholar with the World Bank, Dilip Ratha, calculated the magnitude of remittances and brought them to the world’s attention. Critics suggest that “behind every remittance is a separated family” and argue that remittances contribute to consumption rather than development...

Dutch Incident Underscores Holes in EU Organics Legislation

Nils Klawitter March 17, 2008
Growing organic food is a booming industry in wealthy nations that care about every aspect of health. Pesticides, fertilizers and other chemicals have been linked to health problems, but also give produce a more aesthetic appearance and longer shelf life. So some companies find it easy to slap an organic label on any produce – grown with pesticide or not. Growing organic crops requires tolerance...

Guess Who's Getting the Most Work Visas

Moira Herbst March 17, 2008
Since 1990, the US has issued a set number of H-1B visas by lottery to attract talented science, technology and math professionals from around the world to its universities, research centers and companies. Increasing numbers of applications, however, combined with strict caps and a lottery system prevent many foreign professionals from entering the US workforce. A federal report points out that...

Are the Grandkids Worth the Money?

Eduardo Porter March 14, 2008
Any society can be judged by how much it cares for future generations - by preserving a record of history and also conserving resources and the environment. Some public spending reflects regard for future generations, and writing for the New York Times, Eduardo Porto poses the question: How much should the world sacrifice today to abate future costs of climate change? Much of modern society...

Weak Dollar Feels New Stress

Joanna Slater March 12, 2008
Most countries around the world are fighting a trend of global inflation by tightening their currencies, allowing the values to rise. That places pressure on a declining US dollar, writes Joanna Slater for the Wall Street Journal. A declining dollar contributes to rising prices for raw materials like oil, which in turn contributes to inflation. “The inflation dilemma is at its most stark in...