- On Capitol Hill
- On Wall Street
- In the Press
- Policy Reform Work
Our projects are designed to empower policy makers to create positive change. With a focus on collaboration and outreach, we provide original, standards-based research on key policy issues.
SCEPA joined with the Economic Policy Institute on Capitol Hill to brief congressional staff and policy experts on tax expenditures, or incentives given through the tax code without scrutiny by Congress.
SCEPA economists are working on the prospects for a more progressive economic order to emerge from the shock of the recession. They have published papers and documents that place current events in a longer-term context as well as policy proposals to deal with short-term concerns. They are also documenting the emerging discussion of how the discipline of economics is reacting to the Great Recession and the questioning of conventional economic analysis.
Lance Taylor, a SCEPA Faculty Fellow, presents an overview of his new book, Maynard’s Revenge, in a Google Tech Talk.
The book, published this November by Harvard University Press, is a timely analysis of mainstream macroeconomics, posing the need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis.
The government spends $143 billion through tax breaks in an effort to expand pension coverage and security. Yet, over half of the American workforce does not have a pension. Retirement insecurity hurts business plans, workers’ lives and retiree well-being. Reform is needed.
SCEPA’s Guaranteeing Retirement Income Project, sponsored by the Rockefeller Foundation and in collaboration with Demos and the Economic Policy Institute, has a plan to guarantee safe and secure retirement income for all Americans.
'Eminent Economists in the World Today,' the sequel to 'Eminent Economists,' presents the ideas of influential economists of the last 50 years. SCEPA is proud to announce that Anwar Shaikh, economist and professor at The New School for Social Research, is included in this distinguished honor, which recognizes his work on the economic patterns of the developed world.
Shaikh has always held the belief that economics is a moral science and has dedicated his research to understanding inequality. His entry, "Order In and Through Disorder" is a brief autobiography that captures significant moments in his life that influenced his research.
This week's Worldly Philosopher, Gregor Semieniuk, writes on the trade-off between increased computing power and climate change.
Many commentators believe that exponential increases in computing power will lead to tremendous improvements in human welfare - at almost no cost per additional unit, or "marginal" cost.
Erik Brynjolfsson and Andrew McAffee (BM hereafter) express this view in their new book, "The Second Machine Age," and give examples of new technologies that are only possible thanks to recent and ongoing advances in information technology: self-driving cars, real-time translation software, and smart robots that can be taught new movement routines by guiding their arms, rather than programming a new software.
While these innovations are truly breathtaking in their technological sophistication, the authors are wrong to assert that these products and services come at "almost zero marginal cost of reproduction" (BM p. 62). Information technology (IT) - and the "information economy" it fuels - is not energy-neutral. Rather, its energy needs are quite costly, coming from fossil fuels that emit greenhouse gases and continue to supply 80% of the world's energy.
Technologies' use of energy is also costly in its contribution to climate change, which is now widely agreed to have adverse consequences for human welfare (IPCC 2014 and Tony Bonen's blog; Duncan Foley (2013) examines IT's growth trajectory from a classical political economy perspective). Economists and policy makers need to re-examine the claim that life-improving digital technologies are cost-free after their initial development costs.
SCEPA Faculty Fellow Rick McGahey's opinion piece on CNN.com today, "How Paul Ryan's Budget Fails," calls out the House-approved budget for using 'voodoo economics' to pose as 'balanced' while calling for tax cuts for millionaires.
In short, McGahey notes, the math fails, which leaves a budget meant more for political posturing than for the health of the nation's economy.
"How can Ryan claim that his budget is balanced? By invoking what used to be called "voodoo economics" -- assuming budget cuts and unfair tax cuts will unleash economic growth and generate enough tax revenue.
Former Reagan administration economist Bruce Bartlett has criticized this approach as "just another way for Republicans to enact tax cuts and block tax increases. It is not about honest revenue-estimating; it's about using smoke and mirrors to institutionalize Republican ideology into the budget process."
Of course, Paul Ryan isn't stupid, so why the phony budget math and the return of voodoo economics? Because it serves his presidential ambitions."