Economics

On December 20, 2001, Argentine President Fernando De La Rua fled the Presidential Palace in Buenos Aires via helicopter. Riots in the country had left 20 people dead, and unemployment had topped 18 percent. The country had experienced four years of recession, two years of which were presided over by De La Rua. With the country about to default on a record debt, the population’s tolerance for the government ended. All of the buildup, continuing chaos, and economic disorder became known as the Argentine financial crisis of 2001. The Argentine financial crisis of 2001 emerged from poor economic policies of the late 20th century, amplified by the new global system of financial markets.

Published In: Volume 5, Issue 2: — April 4, 2008

Dr. Jonathan Gruber

Professor of Economics, MIT

by Lauren Klepac and Robert Gutierrez

Published In: Volume 3, Issue 2: Modern Healthcare Policy — October 13, 2006

Price Controls on U.S. Pharmaceuticals

Is this Good Public Policy?

by Nathan Gannon, Karen Sheng, and Delal Ismail

The structure of the US pharmeceutical industry has given drug manufactures a large degree of control on the price of new medications. This article explores the implications of price controls on the pharmaceutical industry, weighs the benefits and costs of regulation, and compares the United States with international examples of price controls.

Published In: Volume 3, Issue 2: Modern Healthcare Policy — October 13, 2006

A Conversation with Leo W. Gerard

by Mary Hull Caballero

Published In: Volume 3, Issue 1: Globalization and its Implications — March 24, 2006

Relationships Among Globalization, Development, Primary Education Spending and Brain Drain in the Developing World

by Eleanor Cambridge

Trade policies that accelerate the globalization of goods and services also increase the international migration of college-educated people from less-developed nations to industrialized nations. This “brain drain,” or loss of human capital, impairs the progress of less-developed nations and impedes their ability to compete in the global marketplace. For developing nations seeking to integrate into the global market, neoliberal reforms that require a reduction of government spending on education and a redirection of remaining education spending to the primary grades correlate to a reduction in brain drain.

Published In: Volume 3, Issue 1: Globalization and its Implications — March 15, 2006

Foreign Investment, Development, and Globalization: Can Costa Rica Become Ireland?

Eva Paus, Palgrave Macmillan, 2005

by Alexis Lozada

Along with international trade and financial flows, an explosive growth of foreign direct investment (FDI) has characterized the process of globalization occurring since the late twentieth century. Although most of the FDI goes to the developed economies, many books have been written about the effects of FDI on developing countries. Findings have ranged from the favorable macroeconomic effects of FDI on the balance of payments, to FDI‘s crowding-out effects on domestic financial markets and its pernicious results in the development of local economies. Historical evidence has also shown that FDI does not often contribute to sustainable long-term economic development in the developing world. Eva Paus’ book, Foreign Direct Investment, Development, and Globalization: Can Costa Rica become Ireland?, adds to the discussion of the effects of FDI in developing countries by introducing an in-depth empirical and comparative economic analysis of Ireland and Costa Rica. Both Ireland and Costa Rica are “latecomers in the development process” and have received little attention in the academic development literature.

Published In: Volume 3, Issue 1: Globalization and its Implications — March 15, 2006