November 23, 2021Analysis
Revisiting the effects of trade liberalization on economic growth
According to a survey on free trade from the University of Chicago, economists overwhelmingly agree that free trade’s net effects are good. A recent article by several IMF economists affirms that, “perhaps more than on any other issue, there is…
July 2, 2021Analysis
Cheap money will boost inequality and geopolitical tension but not inflation
Though the lockdown in 2020 threw many workers out of work, the big fiscal stimulus, fueled by government debt and an unprecedentedly large monetary expansion, offered stimulus checks and elevated unemployment benefits to millions of Americans.
April 24, 2021Sources
The US government spends upwards of $20 billion annually on domestic agricultural support programs, but with over 20 percent of farm products exported, these programs interact with trade policies that have fluctuated in the last century between protectionism and liberalization.
January 16, 2021Analysis
The Control Data Corporation and global value chains.
In March 1976, Deputy Secretary of the Department of Defense (DOD), William “Bill” Clements invited William “Bill” C. Norris, CEO and Chairman of the supercomputer producer Control Data Corporation (CDC) to a closed-door meeting at the Pentagon.
August 18, 2020Sources
Standard postwar theories of class composition in the global north emphasized occupational differences between employers, blue collar, and white collar workers. But deindustrialization, and the army of underpaid service workers it generated, has increasingly muddied these categories.
July 1, 2020Reviews
On the conceptual and methodological stakes of Trade Wars Are Class Wars by Matthew C. Klein and Michael Pettis Good writing on international macroeconomics reads like a detective novel. There’s a suspicious event—hundreds of millions of dollars in phantom FX…
June 13, 2020Interviews
A discussion between Adam Tooze, Michael Pettis, and Matthew Klein
Michael Pettis and Matthew Klein's new book "Trade Wars Are Class Wars" begins with an epigraph from John A. Hobson: "The struggle for markets, the greater eagerness of producers to sell than of consumers to buy, is the crowning proof…
March 23, 2019Sources
There is renewed debate around the merits of protectionism and free trade, spurred by political rhetoric from the left and right in the US, and in Europe and Latin America. Active disagreements over the consequences of free trade date back…
February 9, 2019Sources
This week, we delve into the persisting inequalities of our higher education system. Since Winston, Hill, and Boyd found that only 10% of students at elite universities came from families who fell within the bottom 40% of the income distribution…