470 research outputs found
"The Ownership Society: Social Security Is Only the Beginning"
No full textFrom this paper's Preface, by Dr. Dimitri B. Papadimitriou, President: As his new term begins, President Bush has been trying to focus his domestic agenda on what he calls the Òownership society,Ó a sweeping vision of an America in which more citizens would hold significant assets and be free to make their own choices about providing for their health care and retirement, and educating their children. L. Randall Wray, who has written for the Levy Institute on many topics, evaluates the premises and logic of this program in this new public policy brief. Wray points out that much of the history of the Western world since the advent of liberalism has been marked by a gradual rise in the power of those who lack property. Some of the milestones in this progression include universal suffrage, regulation of business, and progressive taxation. BushÕs ownership society proposals, according to Wray, would result in a partial reversal of the progress of the last 250 years. The reason is that, while BushÕs plans would undoubtedly increase the choices and power of those who have property, they would fail to democratize ownership. Many gains to the wealthy would come at the expense of the poor, the sick, and the elderly. Consider, for example, the condition of the nationÕs private pension system. Increasingly, firms are switching from defined-benefit to definedcontribution plans. This development would seem on its surface to favor the establishment of a new class of stockholders, empowered and holding a larger stake in the system. But, as Wray demonstrates, retirement accounts and other assets just do not add up to a substantial amount for most Americans. This means that most citizens have much to lose indeed from attacks on Social Security and the erosion of the traditional pension system. Much as the safety net for the poor has largely vanished since the Reagan years, the bread-and-butter benefits and rights of the middle class are now threatened by the ownership-society agenda. To many, the claim made by Republicans that all should take responsibility for their wellbeing rings true. But it is important to keep in mind the real alternative to public benefits for the middle class: a society in which success would depend largely upon luck, inheritances, or charity. A society that forces individuals to read their future in their Microsoft Money files inevitably creates a class of nonowners who are insecure and lack independent means. Ironically, this runs up against the aims of those who sincerely hope for a world in which more have the opportunity to become rich: moving upward often brings some setbacks along the way, which might be fatal in a world of reduced bankruptcy protection, disability and medical benefits, and educational aid.
"The Return of Big Government--Policy Advice for President Obama"
No full textIn the current global financial crisis, economists and policymakers have reembraced Big Government as a means of preventing the reoccurrence of a debt-deflation depression. The danger, however, is that policy may not downsize finance and replace money manager capitalism. According to Senior Scholar L. Randall Wray, we need a permanently larger fiscal presence, with more public services. His advice to President Obama is to discard all of former Treasury Secretary Paulson's actions. Wray believes that we can afford any necessary spending and bailouts, and that these actions will not burden our grandchildren.
"Government Deficits, Liquidity Preference, and Schumpeterian Innovation"
No full textWray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting most developed, capitalist economies "cannot be understood without synthesizing Schumpeter's insights with those of Kalecki and Keynes." Hence, Schumpeter's work alone is inadequate in explaining the links between government deficits in ensuring aggregate demand and corporate profits.
“This is your life you have to live with the memories”: Older migrant women’s reflections on living with the past
No full textMemories collected across the life-course often inform our sense of who we are and what is important to us, as we grow older. This article draws on the findings of two qualitative life-history research projects that set out to explore older UK migrant women’s quality of life across the life course. It has two main aims. One aim is to contribute to existing theorizations of social memory. Another aim is to show the extent to which migrant women’s memories of life-altering events influence their satisfaction with life as they grow older. The article concludes by arguing for an approach to the study of ageing that is sensitive to the impact of memories on our experiences of growing older
Government Deficits, Liquidity Preference, and Schumpeterian Innovation
No full textWray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting most developed, capitalist economies "cannot be understood without synthesizing Schumpeter's insights with those of Kalecki and Keynes." Hence, Schumpeter's work alone is inadequate in explaining the links between government deficits in ensuring aggregate demand and corporate profits
Students read from their original, award wining works at the 2006 Michigan State University Student Writers Awards Night
No full textAt the 2006 Michigan State University Student Writers Awards Night, students read from their original, award wining works. Readers include: double winner Nicholas Miller, Lauren Linsalata, Patrick Walchak, and Chris Goetz. The event is convened and hosted by MSU Professor of English and co-director of Film Studies Jeff Wray. A special appearance to present awards is made by noted author Paul Beatty. Part of the MSU Libraries' Michigan Writers Series. Held in the MSU Main Library
Government Deficits, Liquidity Preference, and Schumpeterian Innovation
No full textWray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting most developed, capitalist economies "cannot be understood without synthesizing Schumpeter's insights with those of Kalecki and Keynes." Hence, Schumpeter's work alone is inadequate in explaining the links between government deficits in ensuring aggregate demand and corporate profits.
Race, Region, and Ethos
No full textThis article explores the struggle to transport an ethos of white antiracism across different racial climates within two university contexts. The author analyzes the influence that students' home rhetorics of racism and their conceptualizations about “progressive” white identity have in (de)constructing a teacher's credibility to discuss racial identity and racisms in the classroom.</jats:p
Towards production of genome‐edited aquaculture species
No full textForeign Agricultural Service of the U.S. Department of Agriculture; U.S. Department of AgriculturePublished versionThe work of author Eric M. Hallerman in this area is supported by a grant from the Foreign Agricultural Service of the U.S. Department of Agriculture. The work of author Diane Wray-Cahe is supported by the U.S. Department of Agriculture.Public domain – authored by a U.S. government employe
The Fed and the new monetary consensus: The Case for Rate Hikes, Part Two
No full textThe most charitable interpretation of the Federal Reserve's recent interest rate hikes is that they appear to have been premature. A convincing array of data on payrolls, employment-to-population ratios, and other labor market indicators show that the current recovery has not yet attained the degree of labor market tightness that was common in previous recoveries, and therefore that the threat of inflation is minimal. Hence, the Fed, in raising rates, was unnecessarily jeopardizing the economy's weak recovery. In this new brief, we learn about the flaws in the Fed's thinking that have led to its frequent policy mistakes. Author L. Randall Wray traces several strands of current central bank thinking back to their roots in the Fed's internal discussions in the mid-1990s. Transcripts of these discussions have recently been released, a development that has yielded some disturbing and telling insights about the way in which monetary policy is formed
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