In The News

California Adopts Stiff Pollution Rules for Ships

Margot Roosevelt July 25, 2008
Almost half of all freight headed to the US passes through California, and starting in 2009, large ships operating within 24 nautical miles of the state’s coast will be required to burn a special low-sulfur diesel rather than cheaper fuels. The ruling applies to container ships, oil tankers and cruise ships. “Because prevailing winds blow from west to east in California, ship exhaust accounts for...

Too Big to Fail?

Peter S. Goodman July 24, 2008
The US has long been wary about moral hazard in financing – the fact that any expectation of rescues can increase risk-taking behavior. In the past, US capitalists urged stern measures, expecting companies and countries to pursue risks and accept losses if their ventures failed. As an economic recession looms, the US government increasingly engages in its own interventions, including a measure to...

The Voice of Labor

July 23, 2008
Organized labor looks to be well-organized for politics in advance of November’s US presidential election. Backed by vast war chests and armies of volunteers, unions address workers’ concerns over soaring prices at home and growing competition overseas. Given labor’s strength in key Midwestern swing states and amongst blue-collar whites in general, these efforts to cast the election as a...

What If the Candidates Pandered to Economists?

N. Gregory Mankiw July 21, 2008
Economists make up a tiny portion of the voting bloc and politicians rarely pander to them, perhaps because economists rarely speak with a single voice regarding any issue. However, economists do reach consensus on a few issues. For example, most economists support free trade, and argue that laws preventing free trade are nothing more than laws protecting special-interest groups from competition...

McCain's Economic Plan: Tax Cuts vs. Balanced Budget

Michael Cooper July 18, 2008
Candidates for president must demonstrate they are responsible with taxpayers' money. Early on, Senator John McCain voted against Bush administration tax cuts and has long argued in favor of balancing the massive US budget deficit. But as the presumptive Republican nominee, McCain has since argued in favor of making the tax cuts permanent. US government spending is on a roll, with the war in...

Report Urges Overhaul of the War Powers Law

John M. Broder July 14, 2008
In 1973, toward the end of the Vietnam War, US Congress passed the War Powers Resolution, setting out guidelines for presidents in committing American troops to international conflicts. A yearlong study by a bipartisan group was led by Warren Christopher and James A. Baker III, both former secretaries of state. They conclude that the 1973 law is “ineffective at best and unconstitutional at worst...

Bitten by the Deal That Once Fed Us

Gordon Laxer July 8, 2008
US Democrats’ criticism of the North American Free Trade Agreement during the presidential primaries has sparked concern in Canada that a Barack Obama White House might seek to renegotiate that trade deal on terms more favorable to the United States. That means Canada and Mexico could also tinker with the terms as well. Writing for the Global and Mail, Gordon Laxer argues that Canadians should...