Politics and economics

Ravi Kanbur, 25 June 2017

Political economy discourses in areas such as the nature of market failure, the case for government intervention on grounds of efficiency and equity, and the interplay between economic and political forces have run for generations. This column provides an overview of the life of Nobel Prize-winning economist W Arthur Lewis, who was a critic of laissez-faire economic policies, but who also acted as a check on extreme statist interventions, arguing against heavy state subsidy to industry on purely economic grounds.

Timothy Hatton, 20 June 2017

While immigration preferences have been studied extensively, less attention has been paid to the public’s assessment of the importance of immigration as a policy issue. Using survey data from 17 European countries, this column shows that the drivers of immigration preference and salience are very different. Both immigration preference and salience should be taken into account when assessing the effect of immigration attitudes on policy. 

Nicolas Berman, Mathieu Couttenier, Dominic Rohner, Mathias Thoenig, 09 June 2017

Countries that are rich in natural resources do not always prosper economically. This column uses data on conflict and mineral extraction in Africa to argue that recent rises in mineral prices explain up to a quarter of local conflicts between 1997 and 2010. Mining-induced violence is associated with foreign ownership, although corporate social responsibility policies were associated with less violence. This is relevant to the US debate on whether to scrap the legal requirement to disclose whether products contain conflict minerals. 

Chad Bown, 04 June 2017

The Presidency of Donald J. Trump has unleashed a barrage of potential changes to US economic policymaking and the economy. This column introduces a new VoxEU eBook which examines many of the major economic policy issues and challenges arising under the new US administration. The eBook includes 18 chapters by leading economists across a range of areas in domestic and international economic policy. Many chapters are sharply critical of the Trump administration’s new approach.

Caroline Freund, 01 June 2017

Many analysts have argued that Trump’s promises to bring back US manufacturing paved the way for his election victory. This column compares electoral data from 2016 with previous elections and argues that education and race were far bigger factors than a county’s share of manufacturing jobs in determining the change in its voting from the 2012 election. In addition, relatively low voting rates among Democratic voters were a bigger contributor to the results than high voting rates among Republicans. Trump did not win the white working class, Clinton lost it.

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