Publications

Publications

Democratize Capital Ownership

As Covid-19 wreaks havoc in Southern and Sunbelt states, America’s battered economy faces a new round of shutdowns, bankruptcies and layoffs. Yet one sector seems strangely buoyant – the financial markets. From its all-time high in mid-February, the S&P 500 plummeted 34%, only to recoup all its losses by mid-June. What explains Wall Street’s remarkable…

Shift to “Demand Driven” Immigration

The COVID-19 crisis initially affected the U.S. immigration system by prompting the shutdown of immigration courts and suspension of routine visa processing services. These actions were more or less in line with broader economic shutdowns and closures. The Trump administration, however, has seized on the COVID-19 crisis as a fresh pretext for enacting a cruel…

Make Electoral Democracy More Resilient

The COVID-19 pandemic has laid bare the fragility of the United States electoral voting system. Polling places, which are often densely packed indoor spaces, represent an acute public health danger. Yet, many states do not have the infrastructure in place to adapt to this situation, and it has thrown the health of Americans and our…

Spur Digital Manufacturing in America

This piece is part of our Building American Resilience Series. Resilience is the ability to react quickly to unexpected events. Market economies are inherently resilient because they are decentralized. But by outsourcing too much production to the rest of the world, the U.S. has traded much of its flexibility and resilience for somewhat lower short-run…

Building American Resilience: A Roadmap for Recovery After COVID-19

For Americans and much of the world, 2020 has been an annus horribilis. Following its outbreak in China late last year, the coronavirus has spread quickly across the main international travel and trade routes. To contain the pandemic, nations have been forced to order mass quarantines, freezing economic activity and social life. It likely will…

10 Myths About Big Tech & Antitrust

On Wednesday, the House Subcommittee on Antitrust will hear testimony from the CEOs of Amazon, Google, Facebook, and Apple. Throughout the long pandemic shutdown, Big Tech has supplied the products and services that allow many Americans to keep working remotely and to stay in touch with family and friends while socially distancing. Our connectedness is…

Credit Rating Agencies: Sending A Clear Signal

INTRODUCTION  The Covid-19 pandemic has sent the global economy and financial markets into an unprecedented crisis. The path of the downturn and recovery is difficult to discern. Some companies and nations are likely to survive and prosper, while others will struggle indefinitely. In this context, bond markets will be looking to rating agencies to objectively…

Regulatory Improvement for Independent Workers: A New Vision

One of the biggest productivity advances in recent years has been the use of platforms to connect buyers and sellers at lower cost. Platforms offer less rigid contractual arrangements, expanded earnings opportunities for workers and access to essential goods and services for underserved communities. Overall, platforms generate win-win economic activity which benefits everyone.  The flexibility…

Return Free Filing Won’t Fix What’s Wrong With America’s Tax System

Because of COVID-19 Tax Day moved this year from April to July. That means the debate over the supposed panacea to the convoluted process of filing taxes – a return-free filing system (RFF) – is now making its annual appearance, albeit four months late. The return-free filing idea has been around for a longtime and…

Teacher-centric is good, but student-centric is better

“Providing a World-Class Education in Every ZIP Code” is the title of Joe Biden’s education task force policy recommendations, released last week. Given his long record of support for high-quality public schools, there’s no reason to doubt the presumptive Democratic presidential nominee’s sincerity. As president, surely, he’d wave a magic wand and instantly make every American child’s school…