Oxford University Press's
Academic Insights for the Thinking World
Recently, Professor Ian Sheldon spoke with three eminent economists about some key economic issues of the day, including the views of Professor Robert Hall of Stanford University on the current slow recovery of the US economy; University of Queensland Professor John Quiggin’s thoughts on climate change and policy; and World Bank economist Dr Martin Ravallion’s recent findings on poverty and economic growth.
By Michael Kitson, Ron Martin, and Peter Tyler
Europe has a Greek tragedy; the US is grappling with a Tea Party; and in the UK we have the economic consequences of austerity. The focus is budget deficits, public expenditure cuts and being ‘all in it together’. But, of course, we are not all in it together. The impact of austerity is very unequal: the whole mess was started by the financial sector driven by avarice and hiding behind the convenient veil of ‘free markets’; but the burden is being felt by the poor, the unemployed and the destitute. And the inequality is being felt in different parts of the UK, Europe and the USA.
By Alexander M. Gelber
When tax incentives draw single women into the labour force, what activities do they sacrifice? Do they spend less time enjoying leisure? Do they cut back on household chores? Do they give up time with their children?
By Sarah Damaske
October was National Work-Family Month and, while we have a ways to go to making work-family balance a reality for all, I also think that we have a lot to celebrate. Women’s portion of the labor force hit an all-time high in the last decade and it remains at historically high levels today. And women’s employment has helped to bolster families in these hard economic times.
Ideological Segregation in Various Media Channels
Democracy is most effective when citizens have accurate beliefs (Downs 1957; Becker 1958). To form such beliefs, individuals must encounter information that will sometimes contradict their preexisting views. Guaranteeing exposure to information from diverse viewpoints has been a central goal of media policy in the United States and around the world (Gentzkow and Shapiro 2008). New technologies such as the Internet could either increase or decrease the likelihood that consumers are exposed to diverse news and opinion.
By Edward Zelinsky
Although he had said it before, Warren Buffett struck a nerve with his most recent observation that his effective federal tax rate is lower than or equal to the effective federal tax rates of the other employees who work at Berkshire Hathaway’s Omaha office. Mr. Buffett’s observations have provoked extensive comments both from those supporting his position (e.g., President Obama) and those critical (e.g., the editorial writers of the Wall Street Journal). In response to Mr. Buffett’s remarks, President Obama has promulgated what he calls “the Buffett Rule,” namely, that those making
By Gayle Sulik
Telecom giant AT&T is currently proposing a $39 billion buyout of T-Mobile. The purchase, according to the Department of Justice (DOJ), would have negative implications for the telecommunications market, so much so that the DOJ filed a civil antitrust lawsuit on August 31st to block the proposed acquisition, stating that it would “substantially lessen competition…resulting in higher prices, poorer quality services, fewer choices and fewer innovative products.” AT&T vowed to “vigorously contest” the matter. In addition to hiring 99 lobbyists and spending $11.7 million
By Bill Wiist
As in many other aspects of the global economy, corporations continue to exert inordinate influence over aspects of trade agreements that control life and death, and the rule of democracy particularly in low and middle-income countries. Corporations are able to disproportionately influence provisions of trade agreements to a far greater extent than public health, labor, other citizen representatives, and low-income countries. Corporations are allowed greater access to the trade agreement development process. For example, in the U.S. the memberships of the advisory committees to the
Paul Woodruff
As thousands continue their march on Wall Street for a fifth straight week, an ancient story has much to tell us about the demands of justice.
The occupation of Wall Street is about a colossal failure of justice. When justice fails, anger grows into rage. And rage can tear a community into shreds. When a few people reap huge rewards they do not deserve, while others get nothing but insults — even though they have worked hard and been loyal to their workplace –- justice has failed. Bankers carry away huge bonuses, while more and more of the workers who do the heavy lifting are laid off.
By Joseph McCartin
As the Occupy Wall Street (OWS) movement gathers momentum in New York and around the country, one of its most interesting features has been the growing number of union members at the protests. For understandable reasons, unions have traditionally avoided close involvement with demonstrations as spontaneous as OWS.
By Vassilis Monastiriotis
After fifteen years of fast growth and, by Greek standards, monumental achievements (from EMU accession in 2001 to winning the UEFA Championship in 2004), Greece has found itself at the aftermath of the global financial crisis of 2008/09 again at the epicentre of global attention. But this time the publicity is unintended and for all the wrong reasons.
By Elvin Lim
To understand the Occupy Wall Street movement, it is helpful to understand that it is the antithesis of the Tea Party movement, though for now, much smaller in scale. Occupy Wall Street protesters are, like the Tea Party protesters, disenchanted at the state of the economy, and impatient for solutions. But unlike their compatriots on the Right, their animus is directed at corporate America (Wall Street), not at government (Washington, DC).
September is National Ovarian Cancer Awareness Month. Will the White House be lighted in teal just as it’s been lighted in pink to commemorate National Breast Cancer Awareness Month? Will grocery stores line shelves with teal ribbon products? Will schools give out teal t-shirts or pins? Probably not. Pink has been the color of choice when it comes to cause support…
Situated at the intersection of Europe, Asia, and Africa, the Mediterranean Sea has been for millenia the place where religions, economies, and political systems met, clashed, influenced and absorbed one another. Ranging from prehistory to the 21st century, The Great Sea is above all the history of human interaction across a region that has brought together many of the great civilizations of antiquity as well as the rival empires of medieval and modern times.
By Julie MacLeavy
In recent years, governments of both the right and left have been involved in debates over the best way to deliver public services. Whereas during the post-war period it was widely accepted that state provisioning of infrastructure, health, education and social services was the best way to ensure the well being of citizens, in the latter decades of the twentieth century the market was claimed to be a better way of delivering public goods and services because it was associated with competition, economic efficiency and consumer choice. Commitment to the market entailed a qualitative shift in welfare provision, whereby welfare was based less on a model in which the state counters the market and more on a model where the state serves the market.
In the New York Times Magazine, Jonathan Chait roiled the waters of progressive opinion by claiming that the left is a little delusional in its criticism of Obama for failing to do more to improve the economy. Accusing liberals and leftists of “magical thinking,” Chait wrote that the left overlooks a major obstacle Obama would have faced had he pursued a larger stimulus plan in early