Challenge (Atlanta, Ga.)最新文献_第5页

Reviewed Work: Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace 贸易战争是阶级战争:日益加剧的不平等如何扭曲全球经济并威胁国际和平

Challenge (Atlanta, Ga.) Pub Date : 2021-09-17 DOI: 10.1080/05775132.2021.1967619

Max Ehrenfreund

引用次数: 0

Restitution to Africa: Unjust Enrichment and Damages from Imperial, Colonial, and Post Colonial Abuse of Dominance 对非洲的归还:帝国、殖民和后殖民统治滥用的不公正致富和损害

Challenge (Atlanta, Ga.) Pub Date : 2021-09-06 DOI: 10.1080/05775132.2021.1973283

Richard F. America

引用次数: 0

The Once and Future Fed – and Treasury 过去和未来的美联储和财政部

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1932143

R. Hockett

{"title":"The Once and Future Fed – and Treasury","authors":"R. Hockett","doi":"10.1080/05775132.2021.1932143","DOIUrl":"https://doi.org/10.1080/05775132.2021.1932143","url":null,"abstract":"Abstract I argue that central banks cannot perform their familiar function of modulating credit-money aggregates without engaging in at least some degree of credit-allocation - specifically, to productive rather than speculative projects - on their own or in collaboration with finance ministries. I show further that the “spread Fed” in the U.S., operative from 1913 to 1935 and working in close collaboration with Treasury, did just that, and that it was error to end rather than supplement this practice. That error in turn stemmed from a misdiagnosis of where the Fed had gone wrong during the early 1930s. The Fed had gone wrong not in thinking “real bills” discounting necessary to good allocation and modulation of credit, but in thinking it sufficient. For while much of the money supply is endogenous as Wicksell taught, some of it is not - as Wicksell also taught. In future, the Fed will have to return to its allocative pre-1935 focus on productive investment facilitated by regional Fed discounting on the one hand, while retaining its modulatory post-1935 apparatus (FOMC, FRBNY Trading Desk, etc.) for counteracting exogenous shocks to the money supply on the other hand. It will have to attend, in other words, both to Wicksellian “bank money” and to Wicksellian “cumulative processes.” I call the upshot a “Spread,” “Wicksellian,” or “Two-Bladed Scissors” Fed.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"3 1","pages":"280 - 291"},"PeriodicalIF":0.0,"publicationDate":"2021-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85417030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Stock Market Booms and Labor Bargaining Power 股市繁荣与劳工议价能力

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1950449

William Van Lear

引用次数: 0

A Productivity-Focused Growth Policy Model 以生产率为中心的增长政策模型

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1959783

G. Tassey

{"title":"A Productivity-Focused Growth Policy Model","authors":"G. Tassey","doi":"10.1080/05775132.2021.1959783","DOIUrl":"https://doi.org/10.1080/05775132.2021.1959783","url":null,"abstract":"Abstract This paper responds to a multi-decade decline in the rate of U.S. economic growth by proposing a four-element technology-based growth policy, emphasizing productivity as the key policy target. Multiple indicators are presented to demonstrate the negative impacts of declining investment in key growth variables. The length of the U.S. decline, although in some cases not the magnitude, has also been experienced by most western economies, so the following discussion has broad relevance. In the U.S. case, a decline in productivity growth has resulted not only in slower income growth but also in increased income inequality. The consequence has been varying degrees of social and political turmoil, which has been accentuated by policy mistakes, such as imposition of tariffs and withdrawal from international trade agreements. The growth policy problem is explained in terms of systematic underinvestment in four major categories of economic assets—technology, capital formation (hardware and software), skilled labor, and technology-based infrastructure—that are required to drive long-term productivity growth. Economic growth policy research has for decades emphasized investment in technology (R&D) and a rather strained extension to economic impact. The reason for the conceptual inadequacy is the fact that three other major asset categories are critical to achieving sustained economic growth: capital formation, skilled labor, and technical infrastructure. These latter three asset classes are absolutely essential to the technology-based economy, but they receive incomplete attention at best. Failure to adopt this four-asset growth model has greatly constrained rates of growth in general and particularly in workers’ incomes over the past 40 years.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"23 1","pages":"314 - 342"},"PeriodicalIF":0.0,"publicationDate":"2021-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81105067","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

MMT’s policy prescriptions in Small and Open Economies: Addressing some Controversies MMT在小型和开放经济体中的政策处方:解决一些争议

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1967597

A. Mario

引用次数: 1

Proto-Fascism Unleashed: How the Republican Party Sold Its Soul and Now Threatens Democracy 原始法西斯主义释放:共和党如何出卖灵魂，现在威胁民主

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1959782

T. Palley

引用次数: 1

The Industrial Reserve Army of Labor: Is It Time to Incorporate the Concept into Current Political Economy? 产业劳动后备军:是时候将这一概念纳入当前的政治经济学了吗?

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1964793

C. Mosk

引用次数: 1

Letter from the Editor 编辑来信

Challenge (Atlanta, Ga.) Pub Date : 2021-07-04 DOI: 10.1080/05775132.2021.1996115

J. Madrick

{"title":"Letter from the Editor","authors":"J. Madrick","doi":"10.1080/05775132.2021.1996115","DOIUrl":"https://doi.org/10.1080/05775132.2021.1996115","url":null,"abstract":"Author Robert Hockett argues persuasively in his piece, “The Once and Future Fed,” that the Federal Reserve should allocate credit rather than just seek to control interest rates and inflation. In fact, he points out, the Fed once used to do that. An important piece. Is a booming stock market good or bad for labor power? William Van Lear explores the issues in his piece, “Stock Market Booms and Labor Bargaining Power.” Is there an upside to Trump’s capture of the Republican Party? Insightful economist Tom Palley says that it will at least force America to deal with the challenges that were launched with the Republican “Faustian bargain” with the wealthy beginning 40 years ago. He titles his piece, “Proto1⁄4 Fascism Unleashed.” The author insists it is time—and indeed possible—to target productivity growth as the most important objective of economic policy. Productivity has grown slowly for 40 years. Why do we tolerate it, asks Gregory Tassey in a critical piece, “A Productivity Focused Growth Model.” Can a federal employer-of-last-resort policy lead simultaneously to low unemployment and stable prices? This is a key tenet of modern monetary theory (MMT). Agustin Mario explores this and other issues as part of MMT.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"28 1","pages":"279 - 279"},"PeriodicalIF":0.0,"publicationDate":"2021-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89600316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Income or Wealth: What Did the 2020 Stimulus Mean for People’s Happiness and Why It Matters? 收入还是财富:2020年刺激计划对人们的幸福意味着什么?为什么它很重要?

Challenge (Atlanta, Ga.) Pub Date : 2021-05-04 DOI: 10.1080/05775132.2021.1932138

Michael Madowitz, C. Weller

引用次数: 0