What We’re Reading

Simon Johnson The Case for Megabanks Fails
Michael Ash and Robert Pollin Technical Appendix on Reinhart-Rogoff
Robert Pollin and Michael Ash The Debate Continues
Samir Amin  China 2012
Gabriel Kohler Beyond 2015 or Back to 1980 Beyond 2015 or Back to 1980
Ilan Moscovitz and John Reeves 48 Damning Pieces of Evidence From the JPMorgan Whale Trade Investigation
Bartlett Naylor JP Morgan Cheating on the Stress Test

What We’re Writing

Jeff Madrick, The Sequester’s Hidden Danger
Martin Khor, Dealing With the TNC’s
Sunita Narain, Ganga Saga Part II: Redesign Dams, Not Rivers
Matias Vernengo, In the Long Run We are Not All Dead

What We’re Reading

Robert Pollin and Michael Ash, Pollin/Ash Versus James Hamilton
Matthey Ynglesias, Reinhart and Rogoff Call Backsies
Megan Erickson, The Strike That Didn’t Change New York
Gavin Mueller, The Rise of the Machines
Asef Bayat, Revolution in Bad Times

What We’re Writing

C.P. Chandrasekhar and Jayati Ghosh, Private Banks Don’t Help Financial Inclusion
Matias Vernengo, Harry Dexter White on Austerity and Confidence Fairies
Sunita Narain, Training Engineers, not Ganga
Gerald Epstein, Big Commodity Traders Pocketed $250 Billion Profit

What We are Reading

Robert Pollin Employment Conditions Worsen While Obama Capitulates to Austerity and Fossil Fuel Hawks
Naked Capitalism Whistleblowers Reveal How Bank of America Defrauded Homeowners and Paid for a Cover Up—  All With the Help of “Regulators”
Bretton Woods Project, BRICS Challenge IFIs; Out of the Frying Pan Into the Fire?
George Soros, A European Solution to the Eurozone Crisis
Isabel Ortiz and Mathew Cummins, A Review of Austerity and Adjustment in 181 Countries

What We are Writing

Matias Vernengo, The Politics of Accounting
C.P. Chandrasekhar Bullying Cyprus to No End
Sunita Narain, A Green Facade
Jayati Ghosh, Full Employment For Growth


What We’re Writing

Jayati Ghosh and C.P. Chandrasekhar, Disquieting Imbalance
Martin Khor, The World’s Worst Judicial System
Jeff Madrick, Obama’s Other Message
Sunita Narain, Kumbh: Time To Come Clean

What We’re Reading

Andrew Cornford Evolution of Commerce and Risk Management in Commodities since 2000 BC
Robert Skidelsky The Rise of the Robots
Jesse Eisenger A Revolving Door in Washington
Ha-Joon Chang The Myth of the Lazy Mob

What We Are Reading

Action Aid Sweet Nothing
Bretton Woods Project World Bank Increases Fossil Fuels Lending
Bretton Woods Project World Bank on Jobs: A Departure?
Robert Pollin Great News: Obama Re-Commits to Clean Energy; Terrible News: Obama Recommits to Dirty Energy
Sanjay Reddy Randomize This: On Poor Economics

What We’re Writing

Martin Wolfson and Gerald Epstein Handbook of the Political Economy of the Financial Crisis
Matias Vernengo, How Unwieldy is Your Beauracracy
Jeff Madrick, The Fall and Rise of Occupy Wall Street
Jayati Ghosh, The Changing Face of Urban Poverty

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.

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What We are Reading

Stephanie Luce,  Is It Time to Give Up On Unions?
Yves Smith, Finally Someone Questions Benefits of Mortgage Securitization
International Monetary Fund, International Reserves: The Independent Evaluation Office Critique
Center for Economic and Policy Research, Macroeconomic Policy Advice and Article IV Consulations
Tax Justice Network The Price of Offshore Revisited

What We Are Writing

Tim Wise, Resolving the Food Crisis: The Need for Decisive Action
Sunita Narain, For a Place in the Sun
Matias Vernengo, Urbanization and the Great Divergence
Martin Khor, Reviving Economic Planning in Africa

What We’re Reading

Ian Fraser, Something Sinister About the Lack of Prosecutions at Lehman Brothers.
Alyssa Battistoni, The Flood Next Time
Nancy Folbre, Work in the Walmartocene
Chloe Maxmin, Why Divestment is Changing the Climate Movement

What We’re Writing

C.P. Chandrasekhar and Jayati Ghosh, The Argentine Debt Saga
Matias Vernengo, Urbanization and the Great Divergence
Jeff Madrick, Does America Need Jack Lew?
Martin Khor, Death of an Internet Open Activist

What We’re Reading

Frank Partnoy and Jesse Eisenger What’s Inside America’s Banks?
Andrew Cornford Of Dogs and Frisbees and The Complexity of Capital Requirements
Jane D’Arista How Financial Structure Undermines Job Creation
Mark Weisbrot,  Three Years Later, Haiti Still Struggling

What We’re Writing

Jayati Ghosh, Responding to the Crisis: Are Austerity and Suffering Inevitable?
Martin Khor, The Water Crises Must Be Addressed Now
Matias Vernengo, What Makes Capitalism Capitalism?
Cornel Ban, Fiscal Policy in Financialized Times: Investor Loyalty, Financialization and the Varieties of Capitalism
C.P. Chandrasekhar, Polishing the Nation’s Silver

What We’re Reading

Nancy Folbre The Cliff Game
Olivier Blanchard and Daniel Leigh Growth Forecast Errors and Fiscal Multipliers
Thomas Ferguson Why The Pundits are Wrong about Big Money and the Election
Aldo Caliari,  Trade Obligations May Work Against Financial Stability Goals
Julian Schumaker, et. al. Sovereign Defaults in Courts: The Rise of Creditor Litigation

What We’re Writing

Yilmaz Akyuz, Financial Liberalization: The Real Issues
Yilmaz Akyuz, Key Issues in the Organization of and Government Intervention in Finance in Developing Countries
Martin Khor, Did We Miss The End of the World?
Matias Vernengo, Lies, Damned Lies, and The Economist
Jayati Ghosh and C.P. Chandrasekhar, Hawking the Defecit