In Memory of Fred Lee

In Memory of Fred Lee

Triple Crisis sadly reports the passing of economist Fred Lee, described by our regular contributor Matías Vernengo as “a tireless builder of institutions, an activist for Post Keynesian, and institutionalist economics, creating space for heterodox economists.” As Matías puts it, Fred Lee “will be sorely missed.”

See Matías’s blog post in tribute to Fred Lee at Naked Keynesianism, here. See Fred Lee’s own narrative of how he became a heterodox economist, here.

What We’re Writing

Jayati Ghosh and C.P. Chandrasekhar, The Cotton Conundrum

S. Ibi Ajayi and Leonce Ndikumana, Capital Flight from Africa: Causes, Effects, and Policy Issues; selected chapters available as Political Economy Research Institute (PERI) working papers.

What We’re Reading

Transnational Institute, Shifting Power: Critical Perspectives on Emerging Economies

Jeronim Capaldo, The Trans-Atlantic Trade and Investment Partnership: European Disintegration, Unemployment and Instability

Triple Crisis welcomes your comments. Please share your thoughts below.

Triple Crisis is published by

News from The Global Development and Environment Institute

The International Monetary Fund issued new guidelines on the use of capital account regulations, and GDAE’s co-sponsored Task Force on Regulating Capital Flows has continued to track and engage with the process. In a widely syndicated piece for the Project Syndicate, Gallagher called the reforms an important “half step,” important for acknowledging the value of such tools for developing countries to prevent damaging swings in currency values and contagion from international financial markets. His Pardee Policy Brief, “The IMF’s New View on Financial Globalization: A Critical Assessment,” goes into more detail. His Financial Times piece circulated widely, as did a piece on the issue by The Globalist, which appeared in China Daily, Valor Econômico (Brazil), The Financial Express (India). Gallagher also authored a provocative article in Global Policy, Social Costs of Self-Insurance” that shows that the another way to regulate capital flows—by accumulating foreign exchange reserves—can be quite costly for emerging market and developing countries.

GDAE released new analysis of the incompatibilities between the new recognition of the validity of capital regulations and most U.S. trade agreements, which prohibit them. Gallagher teamed with the co-chair of a Pardee Task Force Leonardo E. Stanley to publish a policy brief, “Global Financial Reform and Trade Rules: The Need for Reconciliation,” in advance of the full Task Force Report, slated for release in March. Gallagher reiterated the contradictions in meetings with congressional leaders, and published his perspective in Al Jazeera, “Trade rules should not constrain fixing global finance.” While GDAE continues its work on Capital Flows and Development, Gallagher has been awarded a grant from the Institute for New Economic Thinking (INET) to collect some of his analysis on capital flows into a book.

Read the rest of this entry »

What We´re Reading and Writing

What We’re Reading
South Centre, The EPAs and Risks for Africa: Local Production and Regional Trade
Robert Pollin, The Great U.S. Liquidity Trap of 2009-11: Are We Stuck Pushing on Strings?
Columbia University, SIPA’s Ocampo and Co-Author Bértola Win Jaume Vicens Vivens Prize for Best Book on Spanish or Latin American Economic History
Stefano Pagliari, The Making of Good Financial Regulation. Towards a Policy Response to Regulatory Capture
Mark Halle, Life after Rio
Shiney Varghese, Human rights and Rio+20
IISD, Summary of the Meeting
Prideaux/MWN, ‘The Future We Want’ delivers little for migratory wildlife
FAO, Infosylva: Rio+20 Special Issue
Adam James, Andrew Light, Gwynne Taraska, How the Rio+20 Earth Summit Could Have Been Better
George Monbiot, After Rio, we know. Governments have given up on the planet
Tierney Smith and John Parnell, Rio+20: Five climate change ideas that didn’t make the Earth Summit outcome
Karen Hansen-Kuhn, Food, finance and climate crises are fundamental failures, not short-term glitches

What We’re Writing
Jayati Ghosh, India and the Credit Rating Agencies
C. P. Chandrasekhar, When the Law Takes its Course
Patrick Bond, Market Failure at the Rio+20 Earth Summit
Mark Blyth and Stephen Kinsella, Spain Is Now Making Ireland’s Mistakes

Spotlight G-20 & Rio+20: What We're Reading and Writing

As part of the Triple Crisis Spotlight G-20 and Spotlight Rio+20 series, we are running a special edition of our regular Reading and Writing update.

What We’re Reading
Johan Kuylenstierna, Environmentalism or human well-being? Rejecting a false dichotomy
Shengen Fan, A Green Economy and the Poor
Nature, Return to Rio: Second chance for the planet
FAO, Towards the Future We Want
IISD, Sustainable Development Timeline
IISD, Linkages: Coverage of Rio+20
SEI, Clinton outlines agenda to tackle climate, health and food security
Manish Bapna, Peter Hazlewood and John Talberth, Rio+20: Moving Ahead with the Sustainable Development Goals
Elizabeth Bast, Traci Romine, Stephen Kretzmann, Srinivas Krishnaswamy, Lo Sze Ping, Low Hanging Fruit: Fossil Fuel Subsidies, Climate Finance, and Sustainable Development
Stephen Leahy, Activists Call for Creation of High Commissioner for Future Generations at Rio+20
Rousbeh Legatis, Q&A: Battle for Human Rights in Rio Is “Far From Over”
Thalif Deen, Defining Green Economy May Stymie Rio Summit
Laura Carlsen, Mexico’s G20 Summit: In the Eye of the Storm
Peter Wahl, The G20: Overestimated and Underperforming
Liane Schalatek and Lili Fuhr, From promise to payment pledge: in Los Cabos, the G20 must act on long-term climate finance

What We’re Writing
Martin Khor, Key issues facing Rio+20 summit
Jennifer Clapp, G20 and Food Security: Keep the Focus on Economic Policy Reform

Spotlight G-20 & Rio+20: What We’re Reading and Writing

As part of the Triple Crisis Spotlight G-20 and Spotlight Rio+20 series, we are running a special edition of our regular Reading and Writing update.

What We’re Reading
Johan Kuylenstierna, Environmentalism or human well-being? Rejecting a false dichotomy
Shengen Fan, A Green Economy and the Poor
Nature, Return to Rio: Second chance for the planet
FAO, Towards the Future We Want
IISD, Sustainable Development Timeline
IISD, Linkages: Coverage of Rio+20
SEI, Clinton outlines agenda to tackle climate, health and food security
Manish Bapna, Peter Hazlewood and John Talberth, Rio+20: Moving Ahead with the Sustainable Development Goals
Elizabeth Bast, Traci Romine, Stephen Kretzmann, Srinivas Krishnaswamy, Lo Sze Ping, Low Hanging Fruit: Fossil Fuel Subsidies, Climate Finance, and Sustainable Development
Stephen Leahy, Activists Call for Creation of High Commissioner for Future Generations at Rio+20
Rousbeh Legatis, Q&A: Battle for Human Rights in Rio Is “Far From Over”
Thalif Deen, Defining Green Economy May Stymie Rio Summit
Laura Carlsen, Mexico’s G20 Summit: In the Eye of the Storm
Peter Wahl, The G20: Overestimated and Underperforming
Liane Schalatek and Lili Fuhr, From promise to payment pledge: in Los Cabos, the G20 must act on long-term climate finance

What We’re Writing
Martin Khor, Key issues facing Rio+20 summit
Jennifer Clapp, G20 and Food Security: Keep the Focus on Economic Policy Reform

Spotlight Durban: Durban Resource List

Following the conclusion of the UN Climate Change Conference of COP 17 & CMP 7 in Durban, South Africa, and as part of our Spotlight Durban series, Triple Crisis recommends the following analyses on the package of decisions adopted at Durban and what they mean for the Kyoto Protocol and the 2020 successor agreement.

Triple Crisis bloggers

Martin Khor, New talks launched at Durban , The Fight at the Heart of the Durban Climate Talks, and Gloomy Outlook in Durban
Sunita Narain, Choice is between a rock and a hard place and Durban’s final hours
Patrick Bond, A dirty deal coming down in Durban and Occupy Durban
Frank Ackerman, Climate stalemate in Durban: What can be done?
Elizabeth Stanton, Climate change gets personal and Taking Development and Emission Reduction Seriously
Edward Barbier, A REDD and green paradox

Other Commentaries
Robert Stavins, Assessing the Climate Talks — Did Durban Succeed?
Fiona Harvey and John Vidal, Durban Deal will not avert catastrophic climate change
John Broder, Climate Talks in Durban Yield Limited Agreement
Oxfam,  Climate deal fails poor people
Durban Climate Deal: The verdict , a compilation of reactions from world leaders at The Guardian
Desmond Tutu and Mary Robinson, Climate Justice
Jagdish Bhagwati, Deadlock in Durban

Read the rest of this entry »

Spotlight G20: G20 Resource List

As the G20 Cannes Summit comes to a close, as part of our 2011 Spotlight G20 Series Triple Crisis recommends checking out the following resources to make sense of what was and was not included in the G20’s agenda and why.

G20 Information Centre, Munk School of Global Affairs, University of Toronto: The G20 Cannes Summit 2011: A New Way Forward
Center for Global Development, Development and the Cannes G20 Summit
Thomas Bernes (CIGI), Prescriptions for the G20: The Cannes Summit and Beyond
Uri Dadush, G20 Must Help Manage Eurozone Crisis
Financial Times Special Report, Overview: Dark outlook piles pressure on leaders
Kevin P. Gallagher, The Eurozone Debt Crisis and the G20
Jose Antonio Ocampo, Stephany Griffith-Jones and Kevin P. Gallagher, The G-20’s Helpful silence on capital controls
Andrew Sheng, The Coming Global Credit Glut
Barry Eichengreen, The G20 and Global Imbalances
IMF’s Special Report to the G20 and Paul Krugman’s response, Surprise Anti-Austerians
Jeffrey Sachs, Obama, the G20, and the 99 Percent

Spotlight G-20: What We're Reading and Writing

What we’re reading:
Rodrik: Don’t Count on Global Governance
Akyuz: IMF Should Focus on Crisis Prevention
South Centre: Some Key Issues Missing from G20 Agenda
The Economist: “Running the world economy: Finally a talk shop worth having.”
Financial Times: G-20 Fails to Agree on Trade and Currencies
Bridges Trade Weekly: WTO, OECD, UNCTAD Urge Cooperation at G-20

What we’re writing:
Gerald Epstein: It’s Time to set Ethical Standards for the Economics Profession
Jeff Madrick and others: Rules of Our Society Should Not Be Bought and Sold
Ilene Grabel: Global Governance and Development Finance in the Wake of the Financial Crisis

Spotlight G-20: What We’re Reading and Writing

What we’re reading:
Rodrik: Don’t Count on Global Governance
Akyuz: IMF Should Focus on Crisis Prevention
South Centre: Some Key Issues Missing from G20 Agenda
The Economist: “Running the world economy: Finally a talk shop worth having.”
Financial Times: G-20 Fails to Agree on Trade and Currencies
Bridges Trade Weekly: WTO, OECD, UNCTAD Urge Cooperation at G-20

What we’re writing:
Gerald Epstein: It’s Time to set Ethical Standards for the Economics Profession
Jeff Madrick and others: Rules of Our Society Should Not Be Bought and Sold
Ilene Grabel: Global Governance and Development Finance in the Wake of the Financial Crisis