Critiquing the Critics of Economic Globalization MICHAEL J
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Why Is There No Race to the Bottom in Capital Taxation? Tax Competition Between Countries Of
International Studies Quarterly (2009) 53, 761–786 Why is There No Race to the Bottom in Capital Taxation? Thomas Plu¨mper and Vera E. Troeger University of Essex Hannes Winner University of Innsbruck This article explains the absence of a race to the bottom in capital taxa- tion by analyzing fiscal competition under budget rigidities and tax equity constraints (fairness norms). We outline a political economic model of tax competition that treats the outcome of tax competition as one argu- ment in the governments utility function, the others being public expen- diture and tax equity. In accordance with previous theoretical research, tax competition tends to cause a reduction in taxes on mobile capital and an increase in the tax rates on relatively immobile labor in our model. Yet, our model predicts that governments do not fully abolish taxes on mobile capital. Instead, the government being least restricted by budget constraints and equity norms cuts tax rates to levels slightly below the low- est tax rates of those countries, in which governments are more con- strained, where effective constraints are country size, budget rigidities and fairness norms. Analyzing data from 23 Organization for Economic Co-operation and Development countries between 1975 and 2004 we find empirical support for the hypotheses derived from our theoretical model. A striking feature of international tax competition is the fact that independent jurisdictions share a mobile tax base. As a consequence, a country lowering its capital tax rate attracts an immediate inflow of capital, thereby reducing the tax base of other countries. These respond to the shrinking tax base and to declin- ing tax revenues by lowering their capital tax rate to competitive levels. -
The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers
Pursuit - The Journal of Undergraduate Research at The University of Tennessee Volume 9 Issue 1 Article 7 July 2019 The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers Jenna Demeter The University of Tennessee, Knoxville, [email protected] Follow this and additional works at: https://trace.tennessee.edu/pursuit Part of the Business Administration, Management, and Operations Commons, Business Law, Public Responsibility, and Ethics Commons, Economic History Commons, Gender and Sexuality Commons, Growth and Development Commons, Income Distribution Commons, Industrial Organization Commons, Inequality and Stratification Commons, International and Comparative Labor Relations Commons, International Economics Commons, International Relations Commons, International Trade Law Commons, Labor and Employment Law Commons, Labor Economics Commons, Latin American Studies Commons, Law and Economics Commons, Macroeconomics Commons, Political Economy Commons, Politics and Social Change Commons, Public Economics Commons, Regional Economics Commons, Rural Sociology Commons, Unions Commons, and the Work, Economy and Organizations Commons Recommended Citation Demeter, Jenna (2019) "The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers," Pursuit - The Journal of Undergraduate Research at The University of Tennessee: Vol. 9 : Iss. 1 , Article 7. Available at: https://trace.tennessee.edu/pursuit/vol9/iss1/7 This Article is brought to you for free and open access by -
Profit Maximizing Goes Global: the Race to the Bottom David Kiefer Codrina Rada
DEPARTMENT OF ECONOMICS WORKING PAPER SERIES Profit maximizing goes global: the race to the bottom David Kiefer Codrina Rada Working Paper No: 2013-05 March 2013 University of Utah Department of Economics 260 S. Central Campus Dr., Rm. 343 Tel: (801) 581-7481 Fax: (801) 585-5649 http://www.econ.utah.edu Profit maximizing goes global: the race to the bottom David Kiefer Department of Economics, University of Utah [email protected] Codrina Rada Department of Economics, University of Utah [email protected] Abstract We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries, as measured by the wage share and the output gap. When modeled as a Goodwin model, our results suggest that economic activity is weakly profit-led and that the wage share is pro-cyclical. Our estimated model is dynamically stable and has a long-run equilibrium in distribution- utilization space. An extension of the model suggests that this equilibrium has been shifting south-west towards a lower wage share and a loss of economic activity. This finding is suggestive of a coordination failure among industrialized nations; it could be that the governments of these countries are engaging in a race to the bottom in terms of the wage share; it may even be that this race has the undesirable consequence of decreasing economic efficiency. Keywords: predator-prey models; distributive-demand dynamics; panel data estimation; JEL Classification: D3; C23; C61; Profit maximizing goes global: the race to the bottom David Kiefer ∗ Codrina Rada y Abstract We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries, as measured by the wage share and the output gap. -
Globalization: What Did We Miss?
Globalization: What Did We Miss? Paul Krugman March 2018 Concerns about possible adverse effects from globalization aren’t new. In particular, as U.S. income inequality began rising in the 1980s, many commentators were quick to link this new phenomenon to another new phenomenon: the rise of manufactured exports from a group of newly industrializing economies. Economists – trade economists, anyway – took these concerns seriously. After all, standard models of international trade do say that trade can have large effects on income distribution: the famous 1941 Stolper-Samuelson analysis of a two-good, two-factor economy showed how trading with a labor-abundant economy can reduce real wages, even if national income grows. There was every reason to believe that the same principle applied to the emergence of trade with low-wage economies exporting not raw materials but manufactured goods. And so during the 1990s a number of economists, myself included (Krugman 1995), tried to assess the role of Stolper-Samuelson-type effects in rising inequality. Inevitably given the standard framework, such analyses did in fact find some depressing effect of growing trade on the wages of less-educated workers in advanced countries. As a quantitative matter, however, they generally suggested that the effect was relatively modest, and not the central factor in the widening income gap. Meanwhile, the political salience of globalization seemed to decline as other issues came to the fore. So academic interest in the possible adverse effects of trade, while it never went away, waned. 1 In the past few years, however, worries about globalization have shot back to the top of the agenda, partly due to new research, partly due to the political shocks of Brexit and Trump. -
Goals for the Rich Indispensible for a Universal Post-2015 Agenda Discussion Paper Civil Society Reflection Group on Global Development Perspectives
Advance Unedited Version | 4 March 2015 1 Goals for the rich Indispensible for a universal Post-2015 Agenda Discussion Paper Civil Society Reflection Group on Global Development Perspectives 1. Introduction: Context and Principles After many years of focusing on the symptoms of extreme poverty with the pursuit of the Millennium Development Goals (MDG), the UN system is finally picking up a universal sustainability agenda, enshrined in the Sustainable Development Goals (SDG), that address sustainability and causes of poverty and inequality. The Open Working Group of the UN General Assembly on Sustainable Development Goals has proposed a list of 17 goals and 169 targets.1 The consensus outcome of this group, endorsed by the UN General Assembly in September 2014 as the “main basis” of the post-2015 development agenda, goes far beyond the narrow scope of the MDGs. The MDGs provided an international framework for the advancement of social development for the poor in the global South with a little help from the rich in the global North. Unlike the MDGs, the Post-2015 Agenda with the SDGs as a pivotal building block is intended to be truly universal and global. SDGs will be for everybody, rich countries, countries with emerging economies and poor countries. If it succeeds, this new global sustainability agenda would not only take forward the unfinished business of the MDGs, by ending poverty in all its forms everywhere, but add important dimensions. Apart from the potential to tackle inequalities and injustices worldwide, it would trigger decisive action to protect the integrity of our planet, to combat climate change, and put an end to the overuse of resources and ecosystems by acknowledging planetary boundaries and promoting the respect for nature. -
Democracy and Inequality: a Resource Guide
Democracy and Inequality A Resource Guide www.idea.int © 2017 International Institute for Democracy and Electoral Assistance International IDEA publications are independent of specific national or political interests. Views expressed in this publication do not necessarily represent the views of International IDEA, its Board or its Council members. References to the names of countries and regions in this publication do not represent the official position of International IDEA with regard to the legal status or policy of the entities mentioned. Applications for permission to reproduce or translate all or any part of this publication should be made to: International IDEA Strömsborg SE–103 34 STOCKHOLM SWEDEN Tel: +46 8 698 37 00 Email: [email protected] Website: <http://www.idea.int> International IDEA encourages dissemination of its work and will promptly respond to requests for permission to reproduce or translate its publications. This publication has received support from International IDEA’s Member States through the Institute’s core funding. Grateful acknowledgement is made to the governments of Norway and Sweden, whose generous support made this publication possible. Text editing: Andrew Mash Layout: International IDEA Original design concept: Phoenix Design Aid Democracy and Inequality Fletcher D. Cox* This Resource Guide is part of a series designed for readers, including students and practitioners, interested in exploring further some of the themes and issues raised in The Global State of Democracy 2017: Exploring Democracy's Resilience (International IDEA 2017). The contents of the series reflect the topics of each chapter in the larger report, presenting current and past debates and key concepts related to each topic. -
The Anthropology of Globalization
THE ANTHROPOLOGY OF GLOBALIZATION Department of Anthropology Princeton University ANT 570 Spring 2008 Prof. João Biehl 128 Aaron Burr Hall Phone: 258 6327 Email: [email protected] Teaching Assistant: Peter Locke ([email protected]) Course Description The global is not a given—it is made through intense and highly unequal exchanges. This seminar examines political, social, and subjective processes that accompany economic globalization. We will address shifts in modes of production, governance, consumption, and self- fashioning and we will draw from ethnography and political economic and medical accounts. We will also critically engage the theories that inform the ways social scientists think and write about power, values, and human agency in the global economy. How creative and theoretically generative is ethnography? Which concepts make our science more realistic, better? A film series accompanies the course. Requirements/Grading The success of the seminar depends on your commitment to complete all required readings for each session, write and post weekly responses, watch and critique the films, and to participate actively in discussions. Grading will be based on: 1. Attendance and participation (30%). 2. Reading reports (30%). 3. A final project: a book review essay covering at least three recent publications on the anthropology of globalization OR a research paper on a specific course-related theme. The 12-15 double-spaced page paper is due on May 13th at 5 pm (40%). Books The following books will be on reserve at Firestone Library. These books will also be available for purchase at Labyrinth Books (122 Nassau Street). Additional articles and book chapters can be downloaded from Blackboard’s electronic reserve. -
Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line?
Chicago-Kent Journal of International and Comparative Law Volume 14 Issue 2 Article 1 1-1-2014 Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line? Linda L. Barkacs Craig B. Barkacs Follow this and additional works at: https://scholarship.kentlaw.iit.edu/ckjicl Part of the Law Commons Recommended Citation Linda L. Barkacs & Craig B. Barkacs, Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line?, 14 Chi.-Kent J. Int'l & Comp. Law 1 (2014). Available at: https://scholarship.kentlaw.iit.edu/ckjicl/vol14/iss2/1 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Journal of International and Comparative Law by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. Article Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line? Linda L. Barkacs* & Craig B. Barkacs** Abstract Globalization is characterized by such business practices as aggressive outsourcing, ultra-efficient logistics, and the relentless pursuit of cheap labor. Conversely, “fair trade” is an economic and social movement that works through private enforcement mechanisms to ensure that transnational supply chains do not exploit human and social rights.1 Accordingly, fair trade practices are very much in accord with the well-known “triple bottom line” goals of looking out for people, planet, and profits. -
The Age of Economists: Globalization, Growth and Inequalities
SYLLABUS THE AGE OF ECONOMISTS: GLOBALIZATION, GROWTH AND INEQUALITIES Professor: David DUHAMEL Session: January Language of instruction: English Number of hours of class: 30 Objective of the Course The course is an overview of how economic thought has risen over the centuries, and how, since WWII, it has influenced neighboring disciplines such as political philosophy, common law, political science, sociology and psychology. Each class will be devoted to a theme and a select number of authors. Economic news and current events in the largest sense will be mobilized to emphasize the longevity of our subject. We will use case studies, whether historical, experimental or empirical, to engage discussion and show how the history of economic thought shaped - if not totally constructed - some of our most important contemporary debates (the undesirability of inequalities, the value of globalization, the commodification of human interaction, etc.). Dialogue will be encouraged. Teamwork and innovation will be put at a premium during the collective assignments. Each group of five students will research a given subject. Form and substance will both be graded. A list of subjects can be found at the bottom of the syllabus. Summary “The age of chivalry is gone… now is the age of economists; and the glory of Europe is extinguished forever.” (Burke, 1790). Globalization, free trade, growth and its possible end, the crisis, inequalities, the rise of AI and its impact on the labor market, populism, demographic trends… all those subjects will be studied. From Gilgamesh and Aristotle to neuroeconomics and high frequency trading, this course aims to contextualize contemporary debates and underline how an economic “way of thinking” is now one of, if not the, dominant scheme in our lives, whether it is at the individual, societal or planetary levels. -
Social Life of Things: Globalization & Fair Trade
Social Life of Things: Globalization & Fair Trade DR. BALMURLI NATRAJAN PRESENTATION AT RAMAPO COLLEGE, NJ OCTOBER 26, 2018 The Globe in our Hand…? https://www.youtube.com/watch?v=sBCHcnvwfzA (42 s) 1. Globalization is latest phase of Capitalism 1. FLOWS 2. CONNECTIONS 3. INEQUALITY Globalization: Flows 2-minute 1-slide view of Capitalism and Gobalization Colonialism, Slavery ---------- Decolonial Wars ----------- Neocolonialism--------------Neoliberal Globalization Industrialist capitalists Fordism / Assembly MNCs on Rise Line Investment Bretton Woods bankers / Banks for monopoly Institutions Global capitalists / Free Crisis & finance Trade doctrines World Wars Merchant capitalists 1400 – 1770s 1770 - 1870 1850s 1900s 1914-1950s 1970s - present Globalization As Flows capital higher volume images/ideas Longer distance flows more freedom goods/services More volatile flows greater speed technology/ Highly uneven flows knowledge people Globalization: Connections Coffee: Bean to Cup Fries: Potato to Plate Globalization: Inequalities Also: World Institute of Development Economics and Research (WIDER) report http://www.wider.unu.edu/publications/working-papers/research-papers/2007/en_GB/rp2007-01/ Income growth over time for Fractiles, USA http://www.epi.org/publication/pay-corporate-executives-financial-professionals/ https://blogs.worldbank.org/publicsphere/world-s-top-100-economies-31-countries-69-corporations CEOs and the average worker pay, USA 2. Capitalism Mystifies Itself 1. PRODUCER/CONSUMER 2. PROFITS 3. FREEDOM PRODUCERS CONSUMERS D I V I D I N G W A L L “…a definite social relation between men [sic], that assumes, in their eyes, the fantastic form of a relation between things” Karl Marx, Capital v 1. ch 1, section 4 D e m y s t i f i c a t i o n http://www.theyesmen.org/ https://antiadvertisingagency.com/ 3. -
Globalization and Varieties of Capitalism: Lessons for Latin America
Robert Schuman Globalization and Varieties of Capitalism: Lessons for Latin America Sebastián Royo Jean Monnet/Robert Schuman Paper Series Vol. 8 No. 18 September 2008 Published with the support of the EU Commission. The Jean Monnet/Robert Schuman Paper Series The Jean Monnet/Robert Schuman Paper Series is produced by the Jean Monnet Chair of the University of Miami, in cooperation with the Miami-Florida European Union Center of Excellence, a partnership with Florida International University (FIU). These monographic papers analyze ongoing developments within the European Union as well as recent trends which influence the EU’s relationship with the rest of the world. Broad themes include, but are not limited to: ♦ EU Enlargement ♦ The Evolution of the Constitutional Process ♦ The EU as a Global Player ♦ Comparative Regionalisms ♦ The Trans-Atlantic Agenda ♦ EU-Latin American Relations ♦ Economic issues ♦ Governance ♦ The EU and its Citizens ♦ EU Law As the process of European integration evolves further, the Jean Monnet/Robert Schuman Papers is intended to provide current analyses on a wide range of issues relevant to the EU. The overall purpose of the monographic papers is to contribute to a better understanding of the unique nature of the EU and the significance of its role in the world. Miami - Florida European Union Center Jean Monnet Chair Staff University of Miami Joaquín Roy (Director) 1000 Memorial Drive Astrid Boening (Associate Director) 101 Ferré Building María Lorca (Associate Editor) Coral Gables, FL 33124-2231 Phone: 305-284-3266 -