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"MacEwan, Arthur"
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Puerto Rico: Suffering the \Dutch Disease\ in Reverse
\"Dutch Disease\" is generally understood as a situation where the development of a natural resource industry (e.g. natural gas) leads to a weakening of other sectors of the economy, particularly manufacturing. The mechanism by which exploitation of a natural resource yields weakening elsewhere is usually seen as operating through changes in currency values. Other mechanisms, however, are also at work, particularly through the role of the government in supporting or neglecting various activities. In Puerto Rico, the promotion of manufacturing, by the federal and local governments' tax policies and by a hyper-industrialization ideology, has created a bloated manufacturing sector and weakened other sectors. This can be viewed as Dutch Disease in reverse. Here, MacEwan examining the development of Puerto Rico's manufacturing and examples of activities that have been weakened--tourism, agriculture, and education.
Journal Article
The U.S. Economy
As 2017 came to an end, the popular story was that the US economy was doing very well. However, fears began to grow that the economic expansion had been going for too long, and might overheat. This article examines the slow growth of the economy since the Great Recession.
Journal Article
Are low wages and job loss inevitable?
Yes, that is the main narrative. But, no, it's not right. Globalization, in the sense of increasing international commerce over long distances, has been going on since human beings made their way out of Africa and spread themselves far and wide.
Newsletter
Liberalization, migration and development : the Mexico-U.S. relationship
Migration from Mexico to the United States has been increased by liberalization of the Mexican economy. Proponents of liberalization had maintained that it would reduce migration; indeed, they used this argument along with anti-immigrant sentiment as one basis on which to sell the North American Free Trade Agreement to the U.S. public. The anti-immigration demagogy was not only offensive in sentiment but also wrong in substance. Various impacts of liberalization have been causal factors moving people northward and maintaining the high rate of migration. This reality should force a reassessment of policy in the United States. A policy that accepted the reality of continuing migration and integrated the immigrants into the labor force with full rights could have widespread benefits.
Journal Article