Analyses
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This article was first published by Knowledge@Wharton on September 28th, 2011. Analysis on the fairness of the tax system in the US, and likely scenarios for its future. Is the tax system in the United States fair? That's kind of a trick question, as fairness and unfairness are usually in the eye of the beholder. Often, a case for fairness boils down to nothing more than self interest. And because there is no final word on the subject, the debate can go on forever. In the current round, Washington is wrangling over President Barack Obama's call for a "Buffett Rule" to make sure the wealthy pay a "fair share" of taxes -- a percentage of income at least...
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An exploration of various ideas, indicators and parameters that explain the economic crisis of 2008-09 and conclusions as to how to avoid another one. After the currency crises of 1994-2001, and especially the East Asia crises of 1997-98, a lot of research investigated what countries could do to protect themselves against a future repeat. More importantly, policy makers in emerging markets took some serious measures. Some countries abandoned exchange rate targets and began to float. Many accumulated high levels of foreign exchange reserves. Many moved away from dollar-denominated debt, toward other kinds of capital inflow that would be less vulnerable to...
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This article explores the status of NATO-Russia relations in particular since the NATO Summit that took place in Lisbon in November of 2010. It is divided into three parts. The first section summarizes the history of NATO-Russia relations since the fall of Communism and the launching of the Partnership for Peace program in 1994. PART 1 of 3 Many political commentators celebrated the NATO (North Atlantic Treaty Organization) Lisbon Summit on November 20th of last year as a significant success for NATO-Russia relations and an important step forward after the impasse of the 2008 Georgian Crisis. "We will leave behind us not only the Cold War, but also the post Cold War period ...and...
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A critical reply to Philippe Nassif’s “smart power” view of the West’s response to the Arab spring. The Arab Spring is truly one of the most complex challenges since the end of the Cold War. Like the collapse of the Soviet Union, it has caught the West by surprise. But whereas the West had a good sense of which side they were on in the Cold War, they have lost their moral compass in the Arab Spring. Instead of siding with the people of Tunisia and Egypt, who rose up to fight for more freedom and the chance to improve their quality of life, the West stood with their dictators. France, who was at forefront of driving the military intervention in Libya, had a...
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By Noam ChomskyThe Contours of Global Order The democracy uprising in the Arab world has been a spectacular display of courage, dedication, and commitment by popular forces -- coinciding, fortuitously, with a remarkable uprising of tens of thousands in support of working people and democracy in Madison, Wisconsin, and other U.S. cities. If the trajectories of revolt in Cairo and Madison intersected, however, they were headed in opposite directions: in Cairo toward gaining elementary rights denied by the dictatorship, in Madison towards defending rights that had been won in long and hard struggles and are now under severe attack. Each is a microcosm of tendencies in global society, following varied courses...
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This interview was first published by Knowledge@Wharton on September 14, 2011. Warning signs are flashing red. Bond markets are projecting a 98% chance of default on Greece's debt. Stock prices for French banks, heavily invested in that debt, have plunged 10% in recent days. Has the European debt crisis hit the breaking point, with Greece -- and perhaps others -- soon to exit the eurozone? Or, will officials once more cobble together new agreements that keep Greece in the club and prevent a huge contagion effect likely to cripple an already slowing global economy? And might Europe be better off splitting into two economic co-operations zones, roughly along north/south...
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An editorial commenting on the rapid decline of law-enforcement and the increase in violence related to drug trafficking in Mexico. When I was a child in the 1970s, Mexico was in the midst of one of its most dramatic transformations. Almost unannounced, the demographic explosion experienced during the years that followed the massacre of Tlatelolco became one of the country’s most significant and overwhelming problems. During the 1990s, the country reached 90 million people and by the end of the century the population exceeded more than 100 million. A large percentage of this fairly young population reached their economically active age by the mid-1990s, just in time for the...
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A gallery review. This past week Jeu de Paume, a leading gallery for global photography, closed their summer exhibit, “Chasseur d’ombres,” celebrating 30 years of work by South African photographer Santu Mofokeng. Shown for the first time in Europe, a selection of his most prized features were on display. Born in Johannesburg in 1956, Mofokeng’s works are heavily influenced by his Soweto heritage, with early photography capturing daily life in farms and townships. He gained momentum and a reputation for highlighting the very best and the very worst of South African life. As his career progressed, Mofokeng’s photography moved its focus to landscapes and...
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By Trita ParsiBacked by Israel, it's the only foreign policy issue that unites the GOP. The rise of the Arab masses has pushed Iran out of the headlines -- for now. Even Mahmoud Ahmadinejad, whose theatrics rarely pass unnoticed, has lately failed to grab the attention of the U.S. media. America's attention has instead turned toward Egypt, Syria and Libya. This is likely to change in the next few months. Not as a result of any particular developments in Iran or between the United States and Iran, but because of the 2012 presidential elections. As the Republican presidential hopefuls turn their criticism toward President Obama and not each other, Iran will likely be one of the few foreign...