A Keynesian Revolution or Austerity? The IMF and the COVID-19 Crisis

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Saliha Metinsoy
Keyword(s):  
Government Spending ◽  
The United States ◽  
The Political ◽  
Government Budget ◽  
Fiscal Discipline ◽  
Continuity And Change ◽  
Economics Profession ◽  
The Government ◽  
Paradigmatic Change ◽  
The International Monetary Fund

This commentary for the “Political Economy Section COVID-19 Collection’’ discusses ideational continuity and change at the International Monetary Fund (IMF) in the context of the COVID-19 pandemic. It argues that, despite an initial advice to increase the government spending, the Fund has later reverted back to the market orthodoxy recommending fiscal discipline and balanced government budget in the longer-term. The piece argues that, although a global crisis and increased government spending by influential member states such as the United States might have prompted an ideational shift at the Fund, a lack of clear theorization of longer-term Keynesian policies in academic circles and in the economics profession, prevented a paradigmatic change at the Fund.

the presidential and the semi-presidential system

2021 ◽  
Author(s):  
Peshraw Mohammed Ameen
Keyword(s):  
Political System ◽  
The United States ◽  
Realistic Model ◽  
The Political ◽  
Kurdistan Region ◽  
Political Responsibility ◽  
Parliamentary System ◽  
Head Of State ◽  
Presidential System ◽  
The Government

In this research we dealt with the aspects of the presidential system and the semi-presidential system, and he problematic of the political system in the Kurdistan Region. Mainly The presidential system has stabilized in many important countries, and the semi-presidential concept is a new concept that can be considered a mixture of parliamentary and presidential principles. One of the features of a semi-presidential system is that the elected president is accountable to parliament. The main player is the president who is elected in direct or indirect general elections. And the United States is a model for the presidential system, and France is the most realistic model for implementing the semi-presidential system. The French political system, which lived a long period under the traditional parliamentary system, introduced new adjustments in the power structure by strengthening the powers of the executive authority vis-à-vis Parliament, and expanding the powers of the President of the Republic. In exchange for the government while remaining far from bearing political responsibility, and therefore it can be said that the French system has overcome the elements of the presidential system in terms of objectivity and retains the elements of the parliamentary system in terms of formality, so it deserves to be called the semi-presidential system. Then the political system in the Kurdistan Region is not a complete parliamentary system, and it is not a presidential system in light of the presence of a parliament with powers. Therefore, the semi-presidential system is the most appropriate political system for this region, where disputes are resolved over the authority of both the parliament and the regional president, and a political system is built stable. And that because The presence of a parliamentary majority, which supports a government based on a strategic and stable party coalition, which is one of the current problems in the Kurdistan region. This dilemma can be solved through the semi-presidential system. And in another hand The impartiality of the head of state in the relationship with the government and parliament. The head of state, with some relations with the government, can participate in legislative competencies with Parliament.

The Political Economy of John Taylor of Caroline

1980 ◽  
Vol 14 (3) ◽  
pp. 387-405 ◽  
Author(s):  
Duncan Macleod
Keyword(s):  
United States ◽  
The United States ◽  
Thomas Jefferson ◽  
The Political ◽  
Thought Processes ◽  
John Adams ◽  
John Taylor ◽  
The Government ◽  
Style Of Writing ◽  
To Receive

After years of comparative neglect John Taylor of Caroline has recently begun to receive again a degree of attention more in keeping with his true importance. That his impact upon both his own generation and upon subsequent generations of historians has always been less than it might have been is due largely to his tortured style of writing and the tortuous thought processes it reflected. John Randolph of Roanoke once commented that Taylor needed only a translator to make an impact, and Thomas Jefferson, replying to a communication from John Adams in 1814, wrote that a book received by Adams must have been Taylor's An Inquiry into the Principles and Policy of the Government of the United States: “neither the style nor the stuff of the author of Arator can ever be mistaken. [I]n the latter work, as you observe, there are some good things, but so involved in quaint, in far-fetched, affected, mystical conceipts [sic], and flimsy theories, that who can take the trouble of getting at them?” Taylor himself appeared to hold a fluent style in contempt, commenting that “A talent for fine writing is often a great misfortune to politicians.”Although Taylor's style renders study of his writings far from congenial, the consistency of his purpose and thought make it relatively easy to extract the main thrusts of his arguments. Far from a rigorous theorist he provides a running commentary upon the politics of his times. In that capacity, however, he never felt compelled to define clearly, even to himself perhaps, some of the central premises from which his arguments derived.

THE DEVELOPMENT OF THINK TANKS IN THE U.S. IN THE FIRST HALF OF THE TWENTIETH CENTURY: THE POLITICAL AND SOCIOECONOMIC CONTEXT

2020 ◽  
pp. 99-109
Author(s):  
Iana V. Shchetinskaia ◽  
Keyword(s):  
Foreign Relations ◽  
The United States ◽  
Think Tanks ◽  
Rand Corporation ◽  
The Political ◽  
International Crises ◽  
Political Factors ◽  
The Government ◽  
The U.S

Research institutions and specifically think tanks have existed and developed in the United States for more than 100 years. Since their inception, they have changed and evolved in many ways, while expanding their research foci and political impact. Since the 2010s, a few experts in the field have observed that the U.S. policy expertise is now in crisis. To understand current challenges of policy analysis institutions it is important to study them in a historical retrospective. This article explores the political and socioeconomic contexts in which think tanks emerged and developed from 1910 to the 1950-s. It particularly examines the role of international crises, as well as domestic political factors, such as the role of philanthropy organizations, institutional changes in the government, and others. It discusses how these domestic and foreign policy aspects affected the early development of the Carnegie Endowment for the International Peace (1910), the Council on Foreign Relations (1921) and the RAND Corporation (1948).

The Final Stage of the Minority Revolution in the United States. Upward Mobility of Minorities to the Corridors of Power

2021 ◽  
Vol 13 (2-1) ◽  
pp. 62-91
Author(s):  
Irina Zhezhko-Braun ◽  
Keyword(s):  
United States ◽  
Social Institutions ◽  
Electoral System ◽  
The United States ◽  
The State ◽  
Political Elite ◽  
The Political ◽  
Protest Movements ◽  
Electoral Laws ◽  
The Government

This article is the third and final in a series dealing with the birth of a new political elite in the United States, the minority elite. In previous articles, the mechanism of its appearance was analyzed, as well as its ideology, goals, program and values. The black movement, as the most co-organized of all protest movements, is entering the final phase of its development, being engaged in the placement of its representatives in state and federal governments, political parties and other social institutions. The women’s movement has recently been taken over by ethnic movements, primarily blacks, and has become their vanguard. This article describes new social elevators for the promotion of minority representatives into the corridors of power. The logic of promoting people of their own race, gender and nationality to the highest branches of power began to prevail over other criteria for recruiting personnel. During the 2020 election campaign, a new mechanism for promoting minorities in all branches of government was formed. It is based on numerous violations of local and federal electoral legislation. The mechanism of pressure on the US electoral system is analyzed using the example of the state of Georgia and the activities of politician Stacey Abrams. The article describes Abrams’ strategy to create a network of NGOs that are focused on one mission - to arrange for the political shift of the state in the elections. These organizations circumvented existing laws, making the state of Georgia the record holder for electoral irregularities and lawsuits. The article shows that Abrams’ struggle with the electoral laws of her state is based on the political myth of the voter suppression of minorities. The author identifies a number of common characteristics of the new elite. The minority elite does not show any interest in social reconciliation and overcoming racial conflict, but rather makes efforts to incite the latter, to attract the government to its side and increase its role in establishing “social justice” through racial quotas and infringement of the rights of those social strata that it has appointed bearers of systematic racism in society. As the colored elite increases and the government’s role in resolving racial conflicts grows, the minority movement is gradually condemned, it ceases to be a true grassroots movement and turns into astroturfing.

From IMF Poster Child to Wayward Student

2019 ◽  
pp. 185-193
Author(s):  
Jerome Roos
Keyword(s):  
United States ◽  
International Monetary Fund ◽  
Financial System ◽  
The United States ◽  
Fiscal Discipline ◽  
Enforcement Mechanism ◽  
International Financial System ◽  
The International Monetary Fund ◽  
The Imf

This chapter considers why the International Monetary Fund (IMF) did it not prevent Argentina's record default of 2001. It suggests that the IMF was both unable and unwilling to stop it. While the second enforcement mechanism of conditional IMF lending was initially fully operative, helping to enforce Argentina's compliance in the first years of the crisis, the outcome of the megaswap greatly reduced the risk of an Argentine default to the international financial system. Combined with mounting domestic opposition in the United States to further international bailout loans, this greatly weakened the IMF's capacity to impose fiscal discipline on Argentina, eventually leading the Fund to pull the plug on its own bailout program, causing the second enforcement mechanism to break down altogether. The chapter recounts the process through which this breakdown occurred.

Conclusions

1998 ◽  
Author(s):  
W. W. Rostow
Keyword(s):  
United States ◽  
Political Economy ◽  
21St Century ◽  
World Economy ◽  
Industrial Revolution ◽  
The United States ◽  
Population Increase ◽  
The Political ◽  
The World ◽  
The Government

I have tried in this book to summarize where the world economy has come from in the past three centuries and to set out the core of the agenda that lies before us as we face the century ahead. This century, for the first time since the mid-18th century, will come to be dominated by stagnant or falling populations. The conclusions at which I have arrived can usefully be divided in two parts: one relates to what can be called the political economy of the 21st century; the other relates to the links between the problem of the United States playing steadily the role of critical margin on the world scene and moving at home toward a solution to the multiple facets of the urban problem. As for the political economy of the 21st century, the following points relate both to U.S. domestic policy and U.S. policy within the OECD, APEC, OAS, and other relevant international organizations. There is a good chance that the economic rise of China and Asia as well as Latin America, plus the convergence of economic stagnation and population increase in Africa, will raise for a time the relative prices of food and industrial materials, as well as lead to an increase in expen ditures in support of the environment. This should occur in the early part of the next century, If corrective action is taken in the private markets and the political process, these strains on the supply side should diminish with the passage of time, the advance of science and innovation, and the progressively reduced rate of population increase. The government, the universities, the private sector, and the professions might soon place on their common agenda the delicate balance of maintaining full employment with stagnant or falling populations. The existing literature, which largely stems from the 1930s, is quite illuminating but inadequate. And the experience with stagnant or falling population in the the world economy during post-Industrial Revolution times is extremely limited. This is a subject best approached in the United States on a bipartisan basis, abroad as an international problem. It is much too serious to be dealt with, as it is at present, as a domestic political football.

Chile spending commitments may hamper fiscal prudence

2018 ◽  
Keyword(s):  
Government Spending ◽  
Credit Rating ◽  
Gdp Growth ◽  
Credit Rating Agencies ◽  
Government Budget ◽  
Content Type ◽  
Rating Agencies ◽  
The Government ◽  
Fiscal Prudence

Subject The draft 2019 budget. Significance The government budget for 2019, announced by President Sebastian Pinera on September 29, is the most austere in almost a decade. It aims to restore Chile’s long-standing reputation for exemplary fiscal conduct, which in recent years has been undermined by increases in government spending that outstrip GDP growth, and the resulting increase in borrowing. Impacts Credit rating agencies have indicated that the draft budget is in line with their concerns about Chile’s rising borrowing requirement. The ongoing decline in fiscal revenues from copper underlines Chile’s need to diversify its economy. The government will be hard-pressed to meet its fiscal goals if, as current forecasts suggest, GDP growth weakens through to 2020.

Election reinforces the regime’s control of Algeria

2017 ◽  
Keyword(s):  
United States ◽  
Political System ◽  
The United States ◽  
Oil Price ◽  
The Political ◽  
Young Generation ◽  
National Liberation ◽  
Content Type ◽  
National Liberation Front ◽  
The Government

Significance The National Liberation Front (FLN) and Democratic National Rally (RND) received the most seats, as expected, amid widespread voter apathy. Impacts The government will continue its austerity strategy in response to the low oil price, and face more social tension and protests. The young generation will lose even more trust in the political system and opt for protest, resignation and emigration. The supporters of security and economic cooperation with the United States within the regime were strengthened.

Sign in / Sign up

Export Citation Format

Share Document