ECONOMIC POLICY
AP Photo
November 20, 2008
Fiscal Stimulus: What should be done now
News
Top economists affiliated with Harvard Kennedy School's Belfer Center for Science and International Affairs weigh in on what steps the President and Congress should take to stimulate the economy. Lawrence H. Summers and Martin Feldstein are members of the Belfer Center's Board of Directors, and Jeffrey Frankel is a faculty affiliate.
AP Photo
November 18, 2008
"How to Help People Whose Home Values Are Underwater"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"The increased supply of homes for sale will create a vicious cycle, further depressing house prices, further raising the number of homes with negative equity, and weakening the balance sheets of financial institutions. This is the primary cause of the dysfunctional credit markets. None of the existing proposals to help homeowners with negative equity would eliminate the incentive to default."
AP Photo
November 18, 2008
"A Chapter For Detroit To Open"
Op-Ed, Washington Post
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"The simplest solution is to allow GM and the others to file for bankruptcy. If the companies file under Chapter 11, they would be able to continue producing cars, and the workforce would remain employed while the firms reorganized. The firms would also be able to get short-term credit under bankruptcy protection."
istock
November 4, 2008
"Financial Leaders Go AWOL in the Meltdown"
Op-Ed, Bloomberg
By Ben Heineman, Senior Fellow, Belfer Center for Science and International Affairs
"What's happening is a crisis of capitalism, though not because there is a debate about the ultimate virtues of capitalism over socialism -- that argument is long over. Rather, the failure of business leadership on an almost cataclysmic scale has brought front and center the issue of how government should rein in business."
November 2008
Partnership for Progress
Report
By Xenia Dormandy, Senior Associate, Belfer Center for Science and International Affairs and Hassan Abbas, Research Fellow, Project on Managing the Atom/International Security Program
The Belfer Center's Xenia Dormandy and Hassan Abbas participated in a working group on the state of Pakistan convened by the Center for American Progress. The resulting report proposes strategies for enhanced security, democratization, and economic growth.
AP
October 30, 2008
"The Stimulus Plan We Need Now"
Op-Ed, Washington Post
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"Further legislation to deal with the economic crisis should not wait until the new president takes office. Fortunately, the president-elect will be a senator and can propose legislation without waiting to be sworn in as president. Immediately after Nov. 4, the winner could, and should, take the lead in the legislative process."
AP Photo
October 26, 2008
"The pendulum swings towards regulation"
Op-Ed, Financial Times
By Lawrence Summers, Charles W. Eliot University Professor
"We need to reform tax incentives that encourage financial risk taking, regulate leverage and prevent government policies that give rise to a toxic combination of privatised gains and socialised losses. This offers the prospect of a prosperity that is more firmly grounded and more inclusive."
Winter 2008-09
Belfer Center Newsletter Winter 2008-09
Newsletter
By Sharon Wilke, Associate Director of Communications
The Winter 2008-09 issue of the Belfer Center newsletter features recent and upcoming research, activities, and analysis by Center faculty, fellows, and staff on critical global issues. "What should the next president do first?" is a question raised in this issue. Belfer Center experts respond to the question with advice on what they consider priority issues of national security, climate/energy policy, and the economic crisis.
The Winter 2008-09 issue also features take-aways from the Center’s recent “Acting in Time on Energy Policy” conference hosted by the Energy Technology Innovation Policy research group. In addition, it spotlights Belfer Center Faculty Affiliate Richard Clarke and new Kennedy School Professor Nicholas Burns.
October 14, 2008
"Economic Realities Must Guide Africa's Constitutional Reform Efforts"
News
By Beth Maclin, Communications Assistant
"African countries need new constitutional orders to cope with modern economic challenges, Calestous Juma said at a recent lecture....A major challenge is based in the constitutions and laws left behind for the newly liberated countries. 'What was being negotiated as independence was really an exercise in constitutional continuity from the colonial period through independence,' Juma said....While there is enormous pressure on African countries to focus on economic programs, they are unable to because the governmental framework left behind did not integrate the economic role of the colonizer into the new role of president."
AP Photo
October 14, 2008
Paul Volcker: Bailout “Distasteful” but Necessary
News
By Paul Volcker, International Council Member, Belfer Center for Science and International Affairs
Paul Volcker, speaking at a lecture in Singapore, said the U.S. economy faces a "considerable recession."
