In The News

The Dollar and the Market Mess

Bill Wilby January 29, 2008
Recent steps by the US Federal Reserve to lower interest rates, in an effort to stabilize global financial markets, directly contribute to a decline in the value of the dollar. That in turn leads to increases in inflation and oil prices. As a result, the dollar is in danger of losing its reserve currency status, writes equities analyst Bill Wilby for the Wall Street Journal. “The real economic...

Jobs for the Children of Globalization

Tim Weber January 29, 2008
Today’s children, the future workforce for the world, will confront intense competition in a world where workers are mobile, projects can be shipped instantly over the internet and customers everywhere demand bargain prices. Advising children to pursue an education is no longer adequate. At the World Economic Forum in Davos, a session on career advice for children was overbooked; attendees...
January 28, 2008
Corporate boards reflect the values of a company and their national culture. Although multiple forces pressure firms around the globe to follow the US-model of corporate governance, divergent styles do emerge and challenge the status quo. Major institutional investors have long invested in US markets and appreciated strong regulations on how companies audit and organize their boards. Those huge...

Hollywood Still Seduces the World

Ioannis Gatsiounis January 28, 2008
Resentment against the US may be at an all-time high, but that hasn’t influenced foreign appreciation for Hollywood films. Trade liberalization, shrewd marketing, foreign partnerships as well as international settings and stars contribute to increasing foreign box-office sales, suggests Ioannis Gatsiounis, a writer based in Malaysia. Special-effects technology boosts foreign sales for all-...

The Stay-At-Home Vacation

Hannah Karp January 28, 2008
With the public increasingly aware about the dangers of global warming, some consumers swear off travel. For most Americans, annual commuting to work produces more carbon emissions than limited air travel. But air travel is rapid and relatively inexpensive, and a passenger’s share of carbon emitted during a couple of long-distance flights quickly exceeds the typical annual commute by car. So...

The GOP’s Prescription for Healthcare

Grace-Marie Turner January 27, 2008
The US health care system emphasizes health care as a benefit of employment. For more six decades, federal and state tax policy has tied the two together by exempting workers from paying taxes on any income used on employer-supplied health insurance. However, only about 60 percent of Americans are covered by employer-based insurance. Increasing procedure costs and mobility in the labor market...

Stern Report Attacked for “Advocacy”

Adam Morton January 26, 2008
In analyzing any issue, economists must work to control bias. Researchers with the Productivity Commission in Australia have labeled the Stern Review on the Economics of Climate Change “as much an exercise in advocacy as an economic analysis.” The researchers agree with the Stern Review that climate change will have economic consequences, but suggest that the likelihood of catastrophic events,...