In The News

Why Dollar Hegemony Is Unhealthy

Thomas I. Palley June 20, 2006
The US dollar holds value for more countries than any other world currency and comprises about two thirds of world’s official foreign-exchange holdings. This dependence allows the US to run large trade deficits in purchasing a cornucopia of goods – from Porsches to t-shirts – by distributing paper IOUs in place of actual dollars. Because of a global faith in the voracious appetite of the US...

Why Keep Downloads on the Down-Low?

Victor Keegan June 20, 2006
Less than one percent of the information contained in the archives of the British Library has been digitized because of concerns about digital rights, reports Author Victor Keegan, and he points out how much more information could be available to the world. To Keegan, the current temerity in the digital rights arena is the true “digital scandal.” While businesses operating under the traditional...

Students in a World of Trouble

J. Michael Adams June 20, 2006
Though many American public school students are surrounded by diverse cultures and languages, two recent publications show that most “are likely to be unprepared to compete and lead in a global work environment,” according to the Committee for Economic Development’s report on the value of international studies. J. Michael Adams and Angelo Carfagna argue that maintaining a US hold in the global...

Diaspora – Selective Immigration Policies and the Brain Drain

Bathseba H. Belai June 19, 2006
In an age of rapid information and globalization, developing countries need an educated workforce more than ever. However, the wealthiest nations entice the most talented workers with high wages – creating a void of intellectual capital in the most impoverished countries. As the populations of wealthy nations age, many governments have increased incentives for specialists to immigrate, although...

A Global Web of Justice Is Up and Running

Luis Moreno-Ocampo June 19, 2006
Luis Moreno-Ocampo, chief prosecutor of the International Criminal Court, describes the relative success of three recent ICC investigations: war crimes in the Congo, the Lord's Resistance Army killings in northern Uganda, and the genocidal events in Darfur, Sudan. The ICC, which carries no allegiance to any one country, intervenes in domestic criminal adjudication only when national...

The Corner Office in Bangalore

Lawrence Orlowski June 19, 2006
Outsourcing of manufacturing and service jobs has led to skyrocketing compensation for chief executives at the expense of shareholder profit, according to authors Lawrence Orlowski and Florian Lengyelion. With a large global pool of executive candidates and the average compensation for foreign CEOs much lower than that of their US counterparts, corporations could save even more by locating the...

Don't Fear the Future

Gordon Brown June 19, 2006
With growing consumer markets in Asia and the developing world, globalization provides Europe and the US with ample opportunity for economic growth and product innovation. However, many in wealthier nations advocate for “protectionist” agricultural strategy and take an isolationist stance to global trade to secure domestic employment in the labor sector. Gordon Brown, UK chancellor of the...