Pub Date : 2023-02-03DOI: 10.1080/05775132.2022.2123133
Louis Uchitelle
Abstract The author focuses on how huge America is compared to its population. One answer is immigration. Another is adequate investment to employ and pay well its current population. This article is an important look at our current situation.
{"title":"The True Problem in America: A Lack of People","authors":"Louis Uchitelle","doi":"10.1080/05775132.2022.2123133","DOIUrl":"https://doi.org/10.1080/05775132.2022.2123133","url":null,"abstract":"Abstract The author focuses on how huge America is compared to its population. One answer is immigration. Another is adequate investment to employ and pay well its current population. This article is an important look at our current situation.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"89 1","pages":"49 - 58"},"PeriodicalIF":0.0,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84479258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.1080/05775132.2022.2156183
Junaid B. Jahangir
Abstract In the aftermath of the financial crisis, student groups demonstrated against mainstream economics with its emphasis on abstract mathematical models at the expense of real-world issues. To this end, I have reviewed ten books, published in the last five years, to introduce students to the criticisms leveled against mainstream textbook theory, to offer diverse perspectives, to address contemporary challenges including climate change and economic inequality, to introduce modern monetary theory, and to highlight the limitations of radical left-wing rhetoric. These books confirm that the way ahead in economics education is through addressing real-world issues and upholding pluralist perspectives.
{"title":"Ten Books Every ECON Student Should Read","authors":"Junaid B. Jahangir","doi":"10.1080/05775132.2022.2156183","DOIUrl":"https://doi.org/10.1080/05775132.2022.2156183","url":null,"abstract":"Abstract In the aftermath of the financial crisis, student groups demonstrated against mainstream economics with its emphasis on abstract mathematical models at the expense of real-world issues. To this end, I have reviewed ten books, published in the last five years, to introduce students to the criticisms leveled against mainstream textbook theory, to offer diverse perspectives, to address contemporary challenges including climate change and economic inequality, to introduce modern monetary theory, and to highlight the limitations of radical left-wing rhetoric. These books confirm that the way ahead in economics education is through addressing real-world issues and upholding pluralist perspectives.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"95 1","pages":"1 - 22"},"PeriodicalIF":0.0,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86220816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-22DOI: 10.1080/05775132.2022.2135695
Ranisom S. Martins
{"title":"Globalization and the Labor Market: An Economic Approach","authors":"Ranisom S. Martins","doi":"10.1080/05775132.2022.2135695","DOIUrl":"https://doi.org/10.1080/05775132.2022.2135695","url":null,"abstract":"","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"47 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78377878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-02DOI: 10.1080/05775132.2022.2156156
Isabella M. Weber
Abstract We have witnessed a profit and price explosion in the fossil fuel industry that started in 2021 and has increased in the wake of the war in Ukraine. Excess profits have unleashed a redistribution of incomes. This raises the question of who is reaping the benefits and who is paying the bill. In short: Among the winners are fossil fuel companies; high wealth households holding shares in fossil fuel companies, Wall Street and Asset Managers; and companies that can use rising costs as a pretext to increase prices and profits. Among the losers are poor households, Black and Brown and Latinx communities who are also the main victims of climate change in the United States; governments that have seen their budgets burdened by high energy prices; and firms that depend on fossil fuels as inputs and have seen their costs rise sharply and their profits fall. Fossil fuel profit explosions can have implications for macroeconomic stability due to the systemic significance of oil and gas and can harm efforts to mitigate climate change. New policy tools like windfall profits and price stabilization measures are necessary to address fossil fuel profit shocks.
{"title":"Big Oil’s Profits and Inflation: Winners and Losers","authors":"Isabella M. Weber","doi":"10.1080/05775132.2022.2156156","DOIUrl":"https://doi.org/10.1080/05775132.2022.2156156","url":null,"abstract":"Abstract We have witnessed a profit and price explosion in the fossil fuel industry that started in 2021 and has increased in the wake of the war in Ukraine. Excess profits have unleashed a redistribution of incomes. This raises the question of who is reaping the benefits and who is paying the bill. In short: Among the winners are fossil fuel companies; high wealth households holding shares in fossil fuel companies, Wall Street and Asset Managers; and companies that can use rising costs as a pretext to increase prices and profits. Among the losers are poor households, Black and Brown and Latinx communities who are also the main victims of climate change in the United States; governments that have seen their budgets burdened by high energy prices; and firms that depend on fossil fuels as inputs and have seen their costs rise sharply and their profits fall. Fossil fuel profit explosions can have implications for macroeconomic stability due to the systemic significance of oil and gas and can harm efforts to mitigate climate change. New policy tools like windfall profits and price stabilization measures are necessary to address fossil fuel profit shocks.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"47 1","pages":"151 - 159"},"PeriodicalIF":0.0,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78938623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-02DOI: 10.1080/05775132.2022.2134638
K. Cashman, Andrés Arauz, L. Merling
Abstract The historic allocation of $650 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) provided countries with an immediate infusion of international reserves. It was the largest debt-free support low- and middle-income countries received to respond to the crisis triggered by the COVID-19 pandemic. This article provides an overview of what SDRs are, how they can be used by countries, how they were used, and the relationship between high-income countries and SDRs. The four main ways to use SDRs identified are (1) to supplement existing reserves, (2) to exchange them for hard currency, (3) for fiscal uses, and (4) for IMF debt relief. Data show that between August 2021 and March 2022 ninety-eight low- and middle-income countries proactively used SDRs at least one way; thirty countries in at least two ways, and ten countries in at least three ways. This allocation increased the fiscal space for developing countries despite the uneven distribution based on IMF quota shares and no downsides were identified for advanced economies that made no use of their allocation. Given the ongoing crisis and additional shocks from Russia’s war in Ukraine and monetary tightening in advanced economies, new allocations of SDRs can help close the gap in the available fiscal space developing countries have to address these challenges.
{"title":"Special Drawing Rights: The Right Tool to Use to Respond to the Pandemic and Other Challenges","authors":"K. Cashman, Andrés Arauz, L. Merling","doi":"10.1080/05775132.2022.2134638","DOIUrl":"https://doi.org/10.1080/05775132.2022.2134638","url":null,"abstract":"Abstract The historic allocation of $650 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) provided countries with an immediate infusion of international reserves. It was the largest debt-free support low- and middle-income countries received to respond to the crisis triggered by the COVID-19 pandemic. This article provides an overview of what SDRs are, how they can be used by countries, how they were used, and the relationship between high-income countries and SDRs. The four main ways to use SDRs identified are (1) to supplement existing reserves, (2) to exchange them for hard currency, (3) for fiscal uses, and (4) for IMF debt relief. Data show that between August 2021 and March 2022 ninety-eight low- and middle-income countries proactively used SDRs at least one way; thirty countries in at least two ways, and ten countries in at least three ways. This allocation increased the fiscal space for developing countries despite the uneven distribution based on IMF quota shares and no downsides were identified for advanced economies that made no use of their allocation. Given the ongoing crisis and additional shocks from Russia’s war in Ukraine and monetary tightening in advanced economies, new allocations of SDRs can help close the gap in the available fiscal space developing countries have to address these challenges.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"17 1","pages":"176 - 198"},"PeriodicalIF":0.0,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81700115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-02DOI: 10.1080/05775132.2022.2162283
R. Dimand
Abstract Adam Smith famously stated in The Wealth of Nations that the recent decision of the Quakers of Pennsylvania to free their slaves showed that they cannot have owned very many, but, like other leading European figures, he was misled by a false report spread by Benjamin Rush. The Pennsylvania Quakers had not yet decided on requiring their members to liberate their slaves. When they did resolve on emancipation, pushed by a wave of acclamation for having supposedly already done so, they freed more than a hundred slaves.
{"title":"Adam Smith on the Late Resolution of the Quakers of Pennsylvania","authors":"R. Dimand","doi":"10.1080/05775132.2022.2162283","DOIUrl":"https://doi.org/10.1080/05775132.2022.2162283","url":null,"abstract":"Abstract Adam Smith famously stated in The Wealth of Nations that the recent decision of the Quakers of Pennsylvania to free their slaves showed that they cannot have owned very many, but, like other leading European figures, he was misled by a false report spread by Benjamin Rush. The Pennsylvania Quakers had not yet decided on requiring their members to liberate their slaves. When they did resolve on emancipation, pushed by a wave of acclamation for having supposedly already done so, they freed more than a hundred slaves.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"36 1","pages":"199 - 204"},"PeriodicalIF":0.0,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84035639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-20DOI: 10.1080/05775132.2022.2134633
Ranisom S. Martins
Abstract In this article, a brief approach to the economic theory of the labor market is made. Those who are in the best position in the social system often do not question this ideology that praises them, but blame others for social problems (such as unemployment and income concentration). After a bibliographic review of several works by authors, it is important to expand the study of inequality generated by the “invisible hand” as well as the discussion of factors that are routinely forgotten, such as the social division of labor and the structure of the market.
{"title":"An Economic Theory about the Labor Market in the Age of Globalization","authors":"Ranisom S. Martins","doi":"10.1080/05775132.2022.2134633","DOIUrl":"https://doi.org/10.1080/05775132.2022.2134633","url":null,"abstract":"Abstract In this article, a brief approach to the economic theory of the labor market is made. Those who are in the best position in the social system often do not question this ideology that praises them, but blame others for social problems (such as unemployment and income concentration). After a bibliographic review of several works by authors, it is important to expand the study of inequality generated by the “invisible hand” as well as the discussion of factors that are routinely forgotten, such as the social division of labor and the structure of the market.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"130 1","pages":"168 - 175"},"PeriodicalIF":0.0,"publicationDate":"2022-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73132022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-10DOI: 10.1080/05775132.2022.2115239
R. Benedikter
Abstract The Coronavirus crisis which started at the end of 2019 and the Russian invasion of Ukraine in February 2022 have cut deep into the tissue of Europe’s socio-economic backbone, namely impacting its small and medium sized enterprises. On the basis of seven strategic axes, Roland Benedikter provides an outlook on the future perspective of European SMEs.
{"title":"The Future of European SMEs: Seven Strategic Axes for the Re-Globalization Phase","authors":"R. Benedikter","doi":"10.1080/05775132.2022.2115239","DOIUrl":"https://doi.org/10.1080/05775132.2022.2115239","url":null,"abstract":"Abstract The Coronavirus crisis which started at the end of 2019 and the Russian invasion of Ukraine in February 2022 have cut deep into the tissue of Europe’s socio-economic backbone, namely impacting its small and medium sized enterprises. On the basis of seven strategic axes, Roland Benedikter provides an outlook on the future perspective of European SMEs.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"438 1","pages":"160 - 167"},"PeriodicalIF":0.0,"publicationDate":"2022-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83678558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-04DOI: 10.1080/05775132.2022.2107792
Salvatore Moccia, Igor M. Tomic
By now many people have heard the statement that the best plan that able generals have developed will change after meeting the enemy. There is a similarity of response in social sciences or in business, as new events raise questions and promote research thus adding to the understanding and complexity of an issue. To that end, this paper explores the concept of the war economy in the context of world events, how this concept is being reevaluated and changes that are being proposed. Usage of sanctions is discussed as they provide an extension of economic power.
{"title":"The New Meaning of a War Economy and the Effects of Improved Planning","authors":"Salvatore Moccia, Igor M. Tomic","doi":"10.1080/05775132.2022.2107792","DOIUrl":"https://doi.org/10.1080/05775132.2022.2107792","url":null,"abstract":"By now many people have heard the statement that the best plan that able generals have developed will change after meeting the enemy. There is a similarity of response in social sciences or in business, as new events raise questions and promote research thus adding to the understanding and complexity of an issue. To that end, this paper explores the concept of the war economy in the context of world events, how this concept is being reevaluated and changes that are being proposed. Usage of sanctions is discussed as they provide an extension of economic power.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"379 1","pages":"139 - 145"},"PeriodicalIF":0.0,"publicationDate":"2022-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75145747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-07-04DOI: 10.1080/05775132.2022.2090753
Thorvaldur Gylfason
Abstract Sweden’s most influential economist for half a century, Assar Lindbeck (1930-2020) made important contributions to economic research across a wide range of topics, built up and directed one of Europe’s most successful economic research institutes at the University of Stockholm, served on the Nobel prize committee for economics from the outset (1969-1994), as its chair from 1980, and advised Swedish governments across the political spectrum on economic reforms. Here is how I remember him.
{"title":"Remembering Assar Lindbeck","authors":"Thorvaldur Gylfason","doi":"10.1080/05775132.2022.2090753","DOIUrl":"https://doi.org/10.1080/05775132.2022.2090753","url":null,"abstract":"Abstract Sweden’s most influential economist for half a century, Assar Lindbeck (1930-2020) made important contributions to economic research across a wide range of topics, built up and directed one of Europe’s most successful economic research institutes at the University of Stockholm, served on the Nobel prize committee for economics from the outset (1969-1994), as its chair from 1980, and advised Swedish governments across the political spectrum on economic reforms. Here is how I remember him.","PeriodicalId":88850,"journal":{"name":"Challenge (Atlanta, Ga.)","volume":"87 8 1","pages":"129 - 138"},"PeriodicalIF":0.0,"publicationDate":"2022-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84029827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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