The U.S. deficit: Whose Fault?

The US budget deficit, and the higher interest rates it is said to cause, is blamed for depressing the economies of Europe. A former Assistant Secretary to the Treasury, now Professor of Economics at Georgetown University, challenges the view that it is the result of President Reagan's tax cuts and defence build-up. In a broadly 'supply-side' analysis, he criticises Paul Volcker, Chairman of the Federal Reserve Bank, David Stockman, Director of the Office of Management and Budget, and Professor Martin Feldstein, Chairman (until June) of Council of Economic Advisors.     

Congressional Voting Patterns on NAFTA

A bstract . On December 8, 1993 President Bill Clinton signed into law the North American Free Trade Agreement and in doing so he brought to a close the lengthy political process that produced the trade agreement. This paper combines information for individual legislators with state-level economic data to conduct an empirical analysis of the House and Senate voting patterns on NAFTA. Results from the logit model estimation confirm that expected job gains/losses, the presence of organized labor and political ideology (as represented by political party) were significant predictors of a legislator's vote on NAFTA. In addition, the expected impact of NAFTA on the environment was found to be somewhat important in explaining Congressional voting patterns for a free trade agreement with Mexico.     

ON THE U.S. BUDGET DEFICIT

By the end of 1985 the USA will bo the most heavily indebted nation on the planet. Professor G. K. Shaw of the University of Buckingham and Geoffrey Wood of the City University Business School differ on Reagan's budgetary policy.     

ADAM SMITH: REVOLUTIONARY FOR THE THIRD MILLENNIUM?1

Adam Smith challenged the then prevailing belief in mercantilist control. He presented a picture of an ‘… orderly yet self‐adjusting, dynamic economic system in which rising production, employment, investment and trade were linked spontaneously together by voluntary exchange …’ Present‐day governments and anti‐globalisation protesters could learn a great deal from his writings.     

THE NEW NEO‐MERCANTILISM: CURRENCY MANIPULATION AS A FORM OF PROTECTIONISM

Three waves of mercantilism have arisen in the past few centuries. The first wave was countered by the classical economists. The second wave (neo‐mercantilism) hit during the inter‐war period. Today's third wave uses monetary policy. We explore the mercantilist waves and argue in favour of a free trade policy. We conclude that an international system of free banking best protects the economy from currency manipulation as a form of protectionism.     

FAIR TRADE AND CORPORATE SOCIAL RESPONSIBILITY

This paper examines how the expansion of mainstreaming of Fair Trade over the last decade and the increasing corporate attention to social responsibility during the same period is resulting in Fair Trade evolving as a form of corporate social responsibility. We further examine the challenges this poses for the Fair Trade movement.     

DEVELOPMENT THROUGH FAIR TRADE: CANDOUR OR DECEPTION?

Proponents of development through Fair Trade allege the movement can seek out the most disadvantaged in ways an impersonal market cannot. While in theory Fair Trade could provide these qualities in a market‐based framework, the evidence herein shows the current Fair Trade movement is failing when measured against these objectives.     

技术性贸易措施趋势及对策研究

技术性贸易措施在国际贸易中占据越来越重要的地位,其影响也日益深远。近年来技术性贸易措施在数量、形式、应用范围、影响程度等方面呈现不断发展的趋势。本文对技术性贸易措施的发展趋势及其对我国进出口贸易的影响进行了分析总结,并在此基础上提出我国应对国外技术性贸易措施的策略。     

From the New Deal to the New Federalism: Presidential Ideology in the U.S. from 1932 to 1982

A bstract . The essence of the Reagan mandate is neither taxation nor balanced budgets , rather the reduction of federal government controls and a corresponding growth in state and local controls. This concern is neither Right nor Left, but a response to a growing realization of ineptitudes and inefficiencies seen in all the highly developed industrialized nations. Hence, whether inspired by the "free-enterprise" doctrines of Reagan in the U.S. or the "socialist" approach of Mitterrand in France, the policy goal of advanced nations is clear: a shift in fiscal priorities and political controls to strike a more realistic balance. The emphasis is upon the social movement aspects of Reagan's New Federalism: the coalition of middle sectors and elite working classes, rather than the "big business" label usually assigned to this administration. Federalism, essentially a social policy, can succeed to the degree that there is an equitable sharing in economic hardships no less than economic gains. But fiscal favoritism, racial inequalities, class dislocations, and similar difficulties can produce its defeat.     

Monetary rules: Theory and practice

President Charles Plosser discusses his views on the benefits of a systematic and rule-like approach to monetary policy.President Plosser outlines his proposals to indicate the likely behavior of the policy rate based on a few different Taylor-like rules that have been consistent with past conduct of monetary policy and are robust to our uncertainties regarding the true economic model.President Plosser believes that the model created by the Federal Reserve Board staff, called FRB/US, seems to be a reasonable starting point for providing economic forecasts based on those rule-based policies; however, other models would be useful to consider.     

President George W. Bush and his faith‐based initiative: creative solution or political minefield?

On 29th January, 2001, President Bush issued an executive order creating a faith‐based initiative office. This paper examines the history of the separation of church and state in the United States starting with the Constitution's First Amendment which established the freedom of religion. Pertinent historical facts through the 1990s are presented. The paper then defines President Bush's faith‐based initiative and how it will be implemented. There is concern about whether this initiative will violate the Constitutional separation of religion and government. Another concern is how it will affect the religious organisations and the charities it is supposed to be helping. There is also a discussion on whether President Bush's faith‐based initiative will have a positive or negative impact on religious organisations as well as keeping then separate from the government. The concern is whether the initiative will benefit and progress society as a whole. Copyright © 2003 Henry Stewart Publications     

EVALUATING THE CRITICISMS OF FAIR TRADE1

This article critically examines some of the most common arguments used to support the view that Fair Trade should be rejected by consumers and businesses seeking to socialise their economic decisions. Overall the paper finds that the majority of such criticisms lack evidential rigour and sophisticated theory but instead rely on a high degree of rhetorical aptitude. While this does not naturally lead to the position that Fair Trade is necessarily beneficial, the conclusion reflects on a substantial amount of positive evidence to suggest that Fair Trade should not be abandoned by consumers or businesses.     

ESP教学——外贸英语教学现状及几点教学策略

随着经济全球化进程的加速,多元文化不断接触融合,各国之间的经贸活动越来越频繁。客观上看,融入世界经济的中国不再需求单一的外语人才,单纯的语言培训已经不能满足快速运行的经济对语言人才的需要。如何在外语教学过程中有计划、有目的、有系统和有效率地实施ESP(English for Specific Purposes)教学已成为外语教学共同关注的焦点。本文通过对外贸英语的现状及框架分析,从多个角度讨论了外贸专业英语的教学法并指出外贸专业英语教学是建立在基础英语和外贸专业知识教学这两块基石上的。     

"区港联动"政府监管机制初探

在实施区港联动战略中政府如何扮演好自己的角色,为区港联动提供支持的同时对其进行有效监管,是区港联动实施过程中值得探讨的一个重要问题。文中在简要介绍区港联动的基础上,分析了区港联动战略下的政府监管机制,主要从宏观调控、法制保障和海关监管三方面进行了分析,提出了国内实施区港联动的监管机制的比较分析思路,为我国区港联动的实施提供了一定建议。     

产业内贸易的技术进步效应研究——以我国高技术产业为例

本研究根据1996-2008年的相关数据,以我国高技术产业的产业内贸易和技术进步为研究对象,在对高技术产业的产业内贸易程度和技术进步率进行定性分析的基础上,采用Engle-Granger协整检验和回归等方法,对我国高技术产业产业内贸易对于技术进步的影响进行实证分析。结果表明,我国高技术产业的产业内贸易对我国技术进步具有一定的正面效应。因此,我们应该充分利用产业内贸易引发的技术外溢与技术扩散效应,不单纯的引进和模仿他国技术,而是自主开发和技术创新,提高我国高技术产业的技术含量,提升高技术产品各产业链的整体竞争力。     

以中国—东盟自由贸易区建成为契机,提升德宏沿边开放水平

中国—东盟自贸区通过扩大市场准入、消除贸易投资壁垒,实现双方经济一体化效益的共享。德宏位于连接东亚经济圈、东南亚经济圈、南亚经济圈的结合部,主要面对的是东盟成员缅甸。在中国—东盟自由贸易区建设中具有不可替代的地缘优势。中国—东盟自贸区的制度设计,为提升德宏沿边开放水平提供了机遇,为德宏地缘优势转化为贸易优势,贸易优势转化经济优势搭建了平台。     

WORLDOUTLOOK

German monetary unification is expected to result in a major expansion in autonomous demand from East Germany. In economic terms this is equivalent to a fiscal shock to West Germany broadly similar to that experienced in the US in the early years of Mr. Reagan's Presidency. Led by the Bundes bank, the monetary authorities' response is again likely to be a tightening of policy, leading to several years of high real interest rates. Overall, the combined monetary-fiscal shock should strengthen growth with only moderate increases in inflation. Germany is expected to grow very rapidly in the -per cent range for several years, with only a slight upturn in inflation. Japan, after a pause over the next year, should be able to return to its under lying growth path fairly quickly. However the US situation is more precarious. FUN adjustment from the previous Reagan shock has not yet taken place, leaving the US vulnerably dependent on increasingly scarce imported capital. In the absence of a significant *peace dividend: the result is the necessity of continued tight policy and sluggish growth in the American economy. US growth stays around 2 per cent, but this allows a substantial reduction in the current account deficit.     

“10＋1”自由贸易区新阶段广西外贸发展对策研究

随着中国-东盟自由贸易区建设步入全面实施的新阶段,作为中国与东盟国家紧密联系桥梁的广西,自由贸易区的建设对其对外贸易发展有着重要影响。广西应该在充分利用自由贸易区建立所带来的积极影响的基础上．及时优化、调整广西的产业结构,并确立以东盟为主要贸易对象的外贸策略,以更好地促进广西经济快速和全面地发展。     

Book reviews

Book review in this article: International Human Resource Management Derek Torrington Policy and Practice in European Human Resource Management C. Brewster and A. Hegewisch (eds) The Volvo Experience–alternatives to lean production in the Swedish auto industry Christian Berggren Enriching Production–perspectives on Volvo's Uddevalla Plant as an alternative to lean production Ake Sandberg (Ed.) The Economics of the Trade Union Alison L. Booth The Economics of the Trade Union Alison L. Booth The Dynamics of Workplace Trade Unionism–Shop Stewards' Trade Unions in Britain (2nd edition) John McIlroy     

A SURVEY OF THE ECONOMICS OF FAIR TRADE

Fair Trade has spread in developing countries as an initiative aimed at lifting poor smallholder farmers out of poverty by providing them with premium prices, availability of credit, and improved community development and social goods. Fair Trade is also viewed as a niche market for high value products in a context of globalization and trade liberalization policies that affect smallholder farmers in developing countries. This paper provides an overview of the potential effects of Fair Trade, both theoretical and empirical, on small‐scale producers in developing countries. Our review discusses the empirical evidence on prices and income, as well as the importance of limited market access and productivity. We discuss evidence on labor markets and human capital investments as well.