Economics

Primary Sources

Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015)

Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Chairman Paul Ryan (R-Wis.) introduced this legislation on April 16, 2015. The legislation allows the White House to continue pursuing trade deals such as the Trans Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP) and allows Congress to vote on the treaties.

See more in United States; Trade; Congresses, Parliaments, National Legislatures

Event

World Economic Update

Experts discuss current trends and potential developments in the world economy as part of the 2015 Conference on Diversity in International Affairs.

See more in Global; Economics

Backgrounder

The Future of U.S. Trade Policy

Author: James McBride

The United States is currently pursuing two of the largest trade deals in history, the Asia-focused Trans-Pacific Partnership (TPP) and the U.S.-EU Trans-Atlantic Trade and Investment Partnership (TTIP), but concerns persist over the effects of trade on employment, inequality, national sovereignty, and safety standards.

See more in United States; Asia and Pacific; Trade

Op-Ed

Regional Institutions Can Be Good for World Policy

Author: Sheila A. Smith
New York Times

China's new Asia Infrastructure Investment Bank has raised questions about United States policy in Asia. Several European nations, South Korea and Australia have signed on to China's initiative, which seeks to raise $50 billion to $100 billion for Asian development. While the U.S. remains cautious about this new China-led effort to fund infrastructure and development, it should welcome the participation of others.

See more in Asia and Pacific; United States; Banks and Banking; Politics and Strategy

Op-Ed

Why Did Walmart Raise Its Wages?

Authors: Benn Steil and Dinah Walker
Forbes Online

Benn Steil’s Forbes op-ed with Dinah Walker examines why Walmart is raising its minimum starting wage. Contrary to arguments from popular commentators, there is no logical reason to suggest hidden motives related to political pressure. Walmart remains as relentless on costs as ever; wage pressures in the retail sector, we show, are wholly sufficient to explain the company’s move.

See more in United States; Labor

Op-Ed

Three Misconceptions About Inequality

Author: Peter R. Orszag
Bloomberg View

Concern about inequality in the U.S. is getting well-deserved attention. Unfortunately, though, discussions of the problem too often rest on three misconceptions: that capital is rising as a share of the economy, that most of the rise in wage inequality is explained by growing gaps within companies between higher and lower paid workers, and that workers are increasingly moving from one job to another. 

See more in United States; Financial Markets

Op-Ed

Congress Shouldn't Cut Military Research on Climate Change

Author: Varun Sivaram
The Hill

The new House budget sets a deadline of October 1 to “cut waste, eliminate redundancies and end the abuse or misuse of taxpayer dollars,” and it specifically targets the Department of Defense (DOD) for spending “part of their budget studying climate change.” Varun Sivaram highlights how the military’s broad portfolio of climate change adaptation efforts should not be considered redundant or wasteful because it bolsters American national security interests.

See more in United States; Climate Change; Budget, Debt, and Deficits