that’s the name economic conference exist American Power, Prosperity and Democracy La Follette Forum. Videos of this panel are available via Wisconsin Eye (registration required). Here are some narratives and thoughts about the group discussion.
inside first sessionWith Catherine Rampell (Washington Post), Adam Posen (Peterson Institute), Mike Knett (University of Washington Foundation) and myself (University of Washington), by Mark Koplovich (Washington University).
Katherine LampelHis speech articulated a combination of policy choices and doom in relation to recent macro developments and inflation and employment. In terms of policy choices, there is a clear intention to avoid the mistakes of the (recent) past, notably the lack of fiscal stimulus in 2009-11. Out of luck, covid variants have been unexpected at home and abroad (at least for some policymakers), with supply chain constraints due to the continued shift to commodity consumption, and the recent Russian invasion of the rest of Ukraine. She stressed that delaying the nomination of Fed governor candidates was an avoidable misstep that could prevent a more flexible response to persistent inflation.
As for policies to address inflation and growth, she draws on immigration reform and management (emphasizing that shortages of foreign-born labor have exacerbated labor market tightening and inflation in recent years), and trade policy (which has failed to eliminate most of Trump’s tariffs, and Continued uncertainty in the form of investigations into circumvention of tariffs on solar panels).
Adam Posen Raises a view that the broad US participation or non-participation in the globalization process (in his recent Diplomatic Articles).
In particular, he pointed out that on some standard indicators, such as the ratio of total imports and exports to GDP, the United States was no longer open by 1995.People unfairly see China as main The driving force behind the changing economic outlook for workers (as exemplified by the work of Autor et al.), and technological change is arguably a more decisive factor.
So we are facing the corrosion of globalization (both at home and abroad)—corrosion that means an uneven recession, which the coronavirus pandemic and Russia’s attack on Ukraine will only accelerate. One aspect of this corrosion is the politicization of investment decisions (foreign direct investment, “friend support”), which contributes to a decline in dynamism.
In the end, Posen linked economic performance to whether the United States became more divided, the right turned to extremism, or managed to overcome the trend.
Mike Knett Some other aspects of outlook are discussed. His main point is that we should see technological change, rather than trade or globalization, as the source of huge labor market losses. In addition, the way in which technological change (especially information technology) has progressed (more concentrated) will be a key factor in the outcome.
mine introduce Focusing on the international role of the dollar and how aggressive use of sanctions is unlikely to cause the dollar to quickly slip away from dominance.
My notes may not be fair to panelists’ presentations and live Q&A, so check out the entire panel presentation here.
here is the video link Panel 2 (The Rise of China and the Future of U.S. Foreign Policy) and Panel 3 (Democracy: Authoritarian Challenges and the Future of American Democracy).
