State of Play: The Coming Debate Over the Ryan and Trump Tax Plans

By Citizens for Tax Justice …read more

From:: Citizens for Tax Justice

Posted in Economics Tagged with:

The Emperor’s new clothes: identity politics in Romania 10 years after joining the EU

By Ana Maria Dima

Romania celebrated its first decade as a member of the EU on 1 January 2017. This then is a time for assessing what this decade has meant for the country that still lies, geographically speaking, at ‘the margin’ of Europe.

Romanian president Klaus Iohannis (right) meets with French president Francois Hollande. PAimages/Vadim Ghirda. All rights reserved.—-

“Instead of bringing Europe
to us, we have opened the doors for Romanians to ‘Europeanize’ in western
states.”

– Vasile
Pușcaș, Romania’s Chief Negotiator with the European Union

—-

Romania celebrated its first
decade as a member of the European Union on 1 January, 2017. This then is a
time for assessing what this decade has meant for the country that still lies,
geographically speaking, at “the margin” of Europe.

A year after the accession,
the financial crisis hit the global markets, and any counterfactual to
Romania’s trajectory within the EU would effectively have to ignore what is the
biggest economic event of this century. In the wake of this mostly celebratory
10-year accession, the legislative elections that took place on 11 December 2017,
and the discourse that the different parties articulated to gain the support of
their potential voters, has brought forward some of the most pressing issues in
Romania’s society.

It has also revealed the fact that the “European identity”
which has always taken on a civilizational tone – an aspirational tone – for the
largest part of the late 90s and early 00s, is still very much present in our
daily understanding of politics.

In the wake of this 10 year
celebration, Romania
made international headlines, when the Social Democratic Party that won the
legislative elections, with more than 45% of the popular vote, nominated Sevil
Shhaideh, a Muslim woman to become Romania’s Prime Minister.

The international
press reacted accordingly: this would have been “a great first” for …read more

From:: OpenEconomy

Posted in Economics Tagged with:

Circular Disruptors Honored in Davos; C2C Design Challenge Winners Rethink Products

The Ecolab Award for Circular Economy Digital Disruptor: Rubicon Global, for providing a sustainable waste and recycling solution that utilizes … …read more

From:: Sustainable Economy – Google Alert

Posted in Economics Tagged with:

2017 – Expect a Bumpy Year Ahead

By Martin Khor

Martin Khor

The new year has dawned. Everyone agrees 2017 will be very interesting.

It will also be most problematic. From politics to economics and finance, we’ll be on a roller-coaster ride.

With his extreme views and bulldozing style, President-elect Donald Trump is set to create an upheaval, if not revolution, in the United States and the world.

He is installing an oil company chief as the Secretary of State, investment bankers in key finance positions, climate sceptics and anti-environmentalists in environmental and energy agencies and an extreme rightwing internet media mogul as his chief strategist.

US-China relations, the most im­­por­­tant for global stability, could change from big-power co-existen­ce, with a careful combination of competition and cooperation, to outright crisis.

Trump, through his phone call with the Taiwanese president and after, signalled he could withdraw the longstanding US adherence to the One China policy and instead use Taiwan as a negotiating card in overall relations with China. The Chinese perceive this as an extreme provocation.

He has appointed as head of the new National Trade Council an economist known for his many books demonising China, including Death by China: Confronting the Dragon.

Trump seems intent on doing an about-turn on US trade policies. Measures being considered include a 45% duty on Chinese products, extra duties and taxes on American companies located abroad, and even a 10% tariff on all imports.

Thus 2017 will see protectionism rise in the United States, the extent still unknown. That is bad news for many developing countries whose economies have grown on the back of exports and international investments.

Europe in 2017 will also be pre­occupied with its own regional problems. The Brexit shock of 2016 will continue to reverberate and other countries facing elections will be less open to the world and become more inward-looking.

As protectionism, xenophobia and narrow nationalism grow in Western …read more

From:: TripleCrisis

Posted in Economics Tagged with:

Scaramucci’s fund struggles to bring top returns to the masses

BOSTON (Reuters) – One of President-elect Donald Trump’s top liaisons to Wall Street’s business elite launched a mutual fund three years ago for mom-and-pop investors that lags most of its peers.

…read more

From:: Money – Reuters

Posted in News

The New Democrats’ Addiction to Austerity Will Not Die

By William K. Black

Cross-posted at New Economic Perspectives.

By William K. Black

I know the Republicans are complete hypocrites about federal deficits and debt. I know their dishonesty and faux deficit and debt hysteria, when a Democrat is president, harms the Nation and the world through the infliction of self-destructive austerity. Austerity’s primary victims are the working class and government social programs for the poor and working class. That means that the Democrats should never mimic the Republicans’ dishonesty, hysteria, and willingness to inflict austerity on the people of America and the world.

Cui Bono?

Unfortunately, the New Democrats embraced the economic malpractice of austerity with the passion of a convert. Michael Meeropol, an economist whose work I respect greatly, has rightly chastised me for failing to explain that fiscal austerity produces enormous winners, not just losers, and that this fact helps explain why the economic malpractice of austerity is so common. Austerity is a policy that aids the wealthy and harms the non-wealthy. One of the greatest triumphs of the wealthy is to get vast numbers of the non-wealthy to fail to understand this point. The New Democrats’ passionate support for austerity reflects the interests of its primary donors – Wall Street elites.

Austerity produces higher unemployment rates. It can cause deflation. It leads to cuts in public employment and funding for social programs. High unemployment allows CEOs to force lower wages and creates a political climate in which CEOs are able to get legislation and rule changes embracing “labor flexibility.” That phrase is a euphemism for making it easier for firms to fire workers without. CEOs use high unemployment to induce an international race to the bottom on worker protections and wages under the pretext that doing so is essential …read more

From:: Dollars & Sense Blog

Posted in Economics Tagged with: