Category archives for USA

The world as we know it is a world that never was

Craig Berry

Donald Trump’s election reminds us that world order is based on American imperial power, not liberal ideals – the American empire’s unravelling will now be accelerated There has been much anxiety expressed in recent days on what the election of Donald Trump in the United States, on the back of the Brexit vote in Britain, says about ‘us’ (whether the … Continue reading

7 December 2016 by
Categories: Politics and policy, SPERI Comment, USA | Tags: , , , , , , , , , , , , | Leave a comment

The grief before the storm

David Coates

Overcoming the grief caused by Trump’s victory requires us to analyse the sources of our pain When Hillary Clinton gave her concession speech on November 9th, admitting defeat to an opponent who had received a lower share of the popular vote than she had, many of her supporters in the room with her, and those watching from afar, actually wept … Continue reading

5 December 2016 by
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High hopes: what now for the cannabis ‘green rush’ under Trump?

Matthew Bishop

The likely evolution of cannabis policy highlights the domestic and external political economy constraints facing President Trump In the aftermath of a presidential election in which Hillary Clinton won by well over a million votes but still ultimately lost the White House, it would be easy to be despondent about democracy in the US. Yet the flipside of an American … Continue reading

28 November 2016 by
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The Democratic primaries in the shadow of neoliberalism

David Coates

The Clinton/Sanders battle exposes the challenge of the centre-left to overcome its pre-crisis accommodation with neoliberalism One way of grasping what is now at stake in the on-going battle between Hillary Clinton and Bernie Sanders is to set that clash in the shadow of the Reagan/Thatcher neoliberal revolution of the 1980s. That revolution kept Democrats out of the White House, … Continue reading

2 June 2016 by
Categories: Politics and policy, SPERI Comment, Tax, USA | Tags: , , , | Leave a comment

The Coming Crisis: secular stagnation for the UK?

Jonathan Perraton

Current economic trends suggest the UK may need to be prepared for a period of weak, and potentially zero economic growth It is now almost eight years since the collapse of Lehman Brothers heralded the global financial crisis (GFC), roughly the length of a normal business cycle. Over that time interest rates have been held at record low levels and … Continue reading

11 May 2016 by
Categories: Austerity, British growth crisis, Economics, Finance, Politics and policy, SPERI Comment, The coming crisis, USA | Tags: , , | Leave a comment

It’s not about tax evasion or avoidance, it’s about inequality

Focusing on politicians’ tax affairs misses the real point: the Panama Papers expose deep structural inequalities and their consequences The recent political stramash over the Mossack Fonseca revelations has involved endless media interviews, commentaries and expert pronouncements about whether David Cameron’s family had engaged in and benefited from sensible tax efficient investment strategies or from dubious tax evasion. This is … Continue reading

19 April 2016 by
Categories: Europe and the EU, Finance, Inequality, Politics and policy, SPERI Comment, Tax, USA | Tags: , , , , , , , , | 1 comment

The ongoing American housing crisis

David Coates

The US housing crisis may have slipped down the political agenda but it hasn’t gone away – and young people are being hardest hit There was a time, not very long ago, when housing was high on the political agenda on both sides of the Atlantic; and understandably so, given the role its financing played in the run-up to the … Continue reading

29 March 2016 by
Categories: Housing, SPERI Comment, USA | Tags: , , , , , | Leave a comment

The making of the modern ‘Debt State’

What we know (and don’t know) about ownership of public debt In a previous contribution to SPERI Comment, I presented some of my research on the domestic ownership structure of the US federal debt. The findings showed that since the early 1980s, and especially since the onset of the global financial crisis, federal bonds have become heavily concentrated in the … Continue reading

10 March 2016 by
Categories: Austerity, Debt, Economics, Inequality, SPERI Comment, Tax, USA | Tags: , , , , , , | 2 comments

Reconstituting the post-crisis real estate-finance link in Ireland, Spain & the US

The mortgage-led crisis has led to the financialization of rental housing – and new social struggles The global financial crisis had dramatic consequences for urban space and life in the US and the worst-affected European economies, Ireland and Spain: a tide of evictions and dispossession of homeowners, swathes of vacant property and stalled development, and rising homelessness. The scope and … Continue reading

1 March 2016 by
Categories: Austerity, Housing, SPERI Comment, USA, Welfare | Tags: , , , , , , , , , , , | Leave a comment

How sustainable are the Anglo-American recoveries?

Jeremy Green

While both countries have experienced comparatively strong growth, divergence on the current account ensures that the UK’s situation looks much more perilous Staggering global payments imbalances are a defining feature of contemporary capitalism. From the 1980s, with the emergence of the ‘neoliberal’ phase of capitalism, two major categories of growth model have emerged: debt-led growth models, marked by current-account deficits, … Continue reading

2 February 2016 by
Categories: British growth crisis, Economics, Global crisis, Politics and policy, SPERI Comment, Sustainability, USA | Tags: , , , , , , , , , , , , | Leave a comment

Working-class anger and the problem of progressive politics

David Coates

The only effective answer to right-wing populism is the creation and deployment of a superior left-wing alternative The start of a new year – especially the start of an important election year as this one happens to be in the United States – is a good time to reflect on the broad strategic choices facing progressive forces on both sides … Continue reading

7 January 2016 by
Categories: SPERI Comment, USA | Tags: , , , , , | 1 comment

Cannabis in the USA Part II: … losing the (drug) war?

Matthew Bishop

Reforms represent just one battle in a bigger war that is far from over In the previous post, I discussed how cannabis reforms in parts of the US were gathering pace. Yet, paradoxically, progress in this area could actually conceal an intensification of the general ‘War on Drugs’. Legalising states in the US remain in violation of the federal Controlled … Continue reading

17 December 2015 by
Categories: Politics and policy, SPERI Comment, USA | Tags: , , , , | Leave a comment

Cannabis in the USA Part I: winning the battle…

Matthew Bishop

Ambitious reforms to cannabis policy in the US are long overdue, with cracks finally appearing in the edifice of the failed ‘War on Drugs’ Drug prohibition has failed utterly. It has neither stemmed demand nor supply, while creating powerful mafias and a desperate trail of violence. It is not based on evidence or logic. As regularly noted by Professor David … Continue reading

15 December 2015 by
Categories: crime, Politics and policy, Social science, SPERI Comment, USA | Tags: , , , , , , , , , , , , , | Leave a comment

TPP time in America

David Coates

President Obama may view this as his legacy, but it may well not be something of which he will long be proud Every political system has its own local economic agenda.  In Britain this currently includes the Osborne commitment to austerity politics, with its potentially devastating impact on the plight of the low-paid.  Here, in the United States, that austerity … Continue reading

23 November 2015 by
Categories: SPERI Comment, USA | Tags: , , , , , | 1 comment

The Uber model and associated controversies

Tom Hastings

The US firm’s successful expansion into many different countries, including the UK, raises important questions about the regulation of technology-dependent businesses The controversies surrounding US technology firm Uber continue and have done so for several years now, with the firm’s notoriety coming hot on the heels of near-constant technological and territorial expansions. The concept at the heart of Uber’s model … Continue reading

28 October 2015 by
Categories: Economics, Global crisis, Social science, SPERI Comment, USA | Tags: , , , , , , | Leave a comment

Restaurant tipping: a very British affliction

Matthew Bishop

The recent furore over gratuities exemplifies Britain’s low-skill, low-investment political economy There is an infamous scene in the Quentin Tarantino movie, Reservoir Dogs, where Mr Pink, played by Steve Buscemi, refuses to proffer a tip after a meal.  He argues that this should not be automatically expected for simply doing one’s job, particularly when distinctions are arbitrarily drawn between different … Continue reading

13 October 2015 by
Categories: Economics, Politics and policy, Social science, SPERI Comment, Tax, USA | Tags: , , , , , , | 2 comments

Getting ready for Donald Trump

David Coates

It is time to begin worrying about his misguided, superficial and bombastic approach to US problems and politics There is a growing realisation, not to mention a creeping fear, in the upper echelons of the American political establishment that Donald Trump might actually win the Republican Party nomination for President in 2016.  There is less fear that, if he does … Continue reading

9 September 2015 by
Categories: Economics, SPERI Comment, USA | Tags: , , , , , | 1 comment

A terminal crisis of Anglo-America?

Jeremy Green

In the wake of the global financial crisis new strains have emerged within the US-UK ‘Special Relationship’ Scenes of Lehman Brothers’ employees hurriedly clearing out belongings from their London offices in September 2008, as the bank filed for the largest bankruptcy in US history, became part of the iconic imagery of the Global Financial Crisis (GFC). Lehman’s collapse was the … Continue reading

30 July 2015 by
Categories: Economics, Global crisis, SPERI Comment, USA | Tags: , , , , , , , , , , | Leave a comment

Different elections, similar issues: the UK and the US at the polls

David Coates

Class and racial divisions will not go away in either country until progressive politics succeeds in pushing them away As the United Kingdom comes to the end of its very short general election cycle, the United States is gearing up for the start of its next very long one.  Yet, for all the differences of electoral timing and length, the … Continue reading

5 May 2015 by
Categories: Global crisis, Inequality, Politics and policy, SPERI Comment, Tax, USA, Welfare | Leave a comment

Inequality and politics in the neo-gilded age: a view from the United States

Stephanie Mudge

Can mainstream political parties reverse the tide? There is much talk about wealth and income inequality nowadays.  Here in the US inequality has now reached levels that look a lot like a neo-gilded age.  The concern, for many, is perhaps less inequality per se, but rather whether it is here to stay (the short answer is yes, unless we change … Continue reading

29 January 2015 by
Categories: Economics, Global crisis, Higher education, Inequality, SPERI Comment, USA | Leave a comment

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