In The News

Europe’s Philosophy of Failure

Stefan Theil February 14, 2008
Two of the world’s most advanced industrial democracies use textbooks with biased and distorted lessons against capitalism, suggests an analysis by Newsweek economics editor Stefan Theil. Even as France and Germany’s political leaders attempt to open their countries’ economies to the free market and give citizens incentives to create new jobs instead of relying on the government, the schools...

Developing Countries Worse Off Than Once Thought – Part I

Branko Milanovic February 11, 2008
Reducing poverty has long been a goal for leaders, both national and international. Undertaking the task requires an understanding of the nature of poverty and its specific locations as well as programs that target economic and cultural causes, suggests this two-part series. The first article in the series, by economist Branko Milanovic, explains how detailed reports on prices throughout the...

Natural Resources, Often a Curse, Can Also Serve the Public

Susan Ariel Aaronson February 8, 2008
The Indian company Tata recently announced production of the Nano, the world’s cheapest car at $2,500. This development extends affordable transportation – and thus access to education, health care and new jobs – to a larger population. But more people driving cars also spikes demand for oil, exacerbating pollution and global warming. On the other side of the ledger, increased demand for oil...

Decoupling Demystified

Nayan Chanda February 8, 2008
Reality always trumps theory. Nayan Chanda points out that this was seen when aftershocks from the American stockmarket meltdown put to rest the theory of ‘decoupling’. The stockmarket jitters that ran from Tokyo to Shanghai to Mumbai shows that Asian growth is very much linked, further proving that in a globalized world, you can run, but cannot hide. – YaleGlobal

Wal-Mart in Global Online Push

Jonathan Birchall February 6, 2008
For some companies, the goal is cornering the market. Wal-Mart has announced intentions to offset slowing growth in the world’s leading consumer nation, the US, by promoting internet sales and delivery of groceries and other items throughout Asia and Latin America. For now, Wal-Mart is second only to Amazon, which began selling books online and then expanded to electronics and other products....

Buyers, Not Savers, Caused America’s Deficit

Richard Duncan February 5, 2008
Financial analysts scrutinize Alan Greenspan’s 2007 autobiography, “The Age of Turbulence,” for any clues about the current economic downturn. Analyst and author Richard Duncan takes issue with the chapter in Greenspan’s book on current accounts and debt, noting that that the former chairman of the US Federal Reserve argues, “High savings and unattractive investments at home, occurring at a time...

2008: The Demise of Neoliberal Globalization

Immanuel Wallerstein February 4, 2008
Political philosophers have long debated about whether governments, corporations or other entities are most efficient in delivering services for groups of citizens or world markets. Neoliberal globalization is an old idea for achieving efficiency that gained prominence in the 1980s, according to sociologist Immanuel Wallerstein, and implies that governments should allow corporations to cross...