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Democratic Constitutional Design and Public Policy
Papers originally presented at a conference sponsored by the Center for Business and Policy Studies--Acknowlegments.
The Freest Market in the World
On the 25th anniversary of the establishment of the Hong Kong Special Administrative Region of the People’s Republic of China, this book presents the first monographic study of the Hong Kong Basic Law as an economic document. The Basic Law codifies what Gonzalo Villalta Puig and Eric C Ip call free market constitutionalism, the logic of Hong Kong’s economic liberty as the freest market economy in the world. This book, which is the outcome of several years of study with the financial support of the General Research Fund of Hong Kong’s Research Grants Council, evaluates the public choice rationale of the Basic Law and its projection on the Hong Kong economy, with a focus on the policy de...
European Integration
Much research has been devoted to the consequences of the completion of the European internal market in 1992. Existing estimates of the effects of market integration remain exploratory, however, and many important issues have yet to be adequately addressed. These are the issues concerning this book. Edited by L. Alan Winters and Anthony Venables, the volume examines such questions as the extent of gains to be expected from both 'internal' and 'external' economies of scale following integration, the implications of 1992 for the European Community's trade with its traditional EFTA partners, the potentially valuable new East European markets, and the rest of the world. There are also chapters considering the implications of the internal market for the design of appropriate technology and taxation policies, and a study of the role of Japanese foreign direct investment in European manufacturing.
Reforming the Welfare State
Over the course of the twentieth century, Sweden carried out one of the most ambitious experiments by a capitalist market economy in developing a large and active welfare state. Sweden's generous social programs and the economic equality they fostered became an example for other countries to emulate. Of late, Sweden has also been much discussed as a model of how to deal with financial and economic crisis, due to the country's recovery from a banking crisis in the mid-1990s. At that time economists heatedly debated whether the welfare state caused Sweden's crisis and should be reformed—a debate with clear parallels to current concerns over capitalism. Bringing together leading economists, R...
Growing Public: Volume 1, The Story
Growing Public examines the question of whether social policies that redistribute income impose constraints on economic growth. Taxes and transfers have been debated for centuries, but only now can we get a clear view of the whole evolution of social spending. What kept prospering nations from using taxes for social programs until the end of the nineteenth century? Why did taxes and spending then grow so much, and what are the prospects for social spending in this century? Why did North America become a leader in public education in some ways and not others? Lindert finds answers in the economic history and logic of political voice, population aging, and income growth. Contrary to traditional beliefs, the net national costs of government social programs are virtually zero. This book not only shows that no Darwinian mechanism has punished the welfare states, but uses history to explain why this surprising result makes sense. Contrary to the intuition of many economists and the ideology of many politicians, social spending has contributed to, rather than inhibited, economic growth.
The Real Worlds of Welfare Capitalism
This book traces how individuals fare over time in each of the three principal types of welfare state.
The Roaring Nineties
The positive social benefits of low unemployment are many—it helps to reduce poverty and crime and fosters more stable families and communities. Yet conventional wisdom—born of the stagflation of the 1970s—holds that sustained low unemployment rates run the risk of triggering inflation. The last five years of the 1990s—in which unemployment plummeted and inflation remained low—called this conventional wisdom into question. The Roaring Nineties provides a thorough review of the exceptional economic performance of the late 1990s and asks whether it was due to a lucky combination of economic circumstances or whether the new economy has somehow wrought a lasting change in the inflation...
At Home and Abroad
Throughout the latter part of the 20th century, the U.S. labor market performed differently than the labor markets of the world's other advanced industrialized societies. In the early 1970s, the United States had higher unemployment rates than its Western European counterparts. But after two oil crises, rapid technological change, and globalization rocked the world's economies, unemployment fell in the United States, while increasing dramatically in other nations. At the same time, wage inequality widened more in the United States than in Europe. In At Home and Abroad, Cornell University economists Francine D. Blau and Lawrence M. Kahn examine the reasons for these striking dissimilarities b...
Warm Hands in Cold Age
Public discussion of population aging usually focuses on the financial burden that increasingly elderly populations will impose on younger generations. Scholars give much less attention to who does the actual work of day-to-day care for those no longer able to care for themselves; and although women are the majority among the elderly, little is heard about gender differences in economic resources or the need for care. This volume is dedicated to giving gender - and a full range of social and cultural differences - their rightful place in these discussions. The authors address, amongst other issues: the worldwide dilemmas of eldercare the structure of income and care provisions for older popu...
Topics in Empirical International Economics
In this timely volume emanating from the National Bureau of Economic Research's program in international economics, leading economists address recent developments in three important areas. The first section of the book focuses on international comparisons of output and prices, and includes papers that present new measures of product market integration, new methodology to infer relative factor price changes from quantitative data, and an ongoing capital stock measurement project. The next section features articles on international trade, including such significant issues as deterring child labor exploitation in developing countries, exchange rate regimes, and mapping U. S. comparative advantage across various factors. The book concludes with research on multinational corporations and includes a discussion of the long-debated issue of whether growth of production abroad substitutes for or is complementary to production growth at home. The papers in the volume are dedicated to Robert E. Lipsey, who for more than a half century at the NBER, contributed significantly to the broad field of empirical international economics.
