Economics News

Already production of shoes, apparel, toys and other "footloose" industries has been shifting from China to Vietnam and other countries, partly due to rising wages in China, says Mary Lovely, professor of economics.

The "Modi government should get a lot of credit for its Insolvency and Bankruptcy Code as well as the cleansing of the banking system, an important component being getting rid of non-performing assets," says Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs.

"It looks like there was a level of specificity that China wasn’t willing to accept and a level of ambiguity that the Trump administration wasn’t willing to accept," Mary Lovely, professor emerita of economics, told the New York Times.

"I think that if President Trump goes through and raises these tariffs and then China retaliates, there will be a lot more pain and no gain," says Professor of Economics Mary Lovely.

"It’ll hit the pocketbooks of the working class hard," Professor Mary Lovely said about Trump's recent trade-war threat to increase tariffs.

"It's just about all good," says Donald Dutkowsky, professor of economics, about the recently released jobs report.

"The two bullies in the room are basically running the show. The rest of the world is going to have to deal with the aftermath," says Mary Lovely, professor of economics.

Stuart Rosenthal, professor and chair of economics, argues that it’s often possible to predict a neighborhood’s income level 20 years into the future by the age of its housing stock today. 

"No economist providing policy prescriptions can ignore the political constraint of the inevitability of redistribution to the bottom 20-30 percent," writes Devashish Mitra, Gerald B. and Daphna Cramer Professor of Global Affairs. "Therefore, an important task before any policy economist is to suggest the most efficient form of this redistribution—one that hurts the rest of the society the least. Of course, it also has to be fiscally viable and responsible."

"For those who might totally dismiss such a scheme, by saying that it amounts to socialism, let me remind them that many believers in the power of markets, including myself, have throughout been in support of cash transfers as the least distortionary method of redistribution and fighting poverty," writes Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs.

According to Mary Lovely, professor of economics, China's leadership is "looking for friends everywhere." And with France being an important player in Europe, "they're also looking to continue to diversify their portfolio in terms of where they do business and how they do business," she says.

"Many men believe they themselves are not part of the problem, yet they continue to organize sessions without any women authors or discussants," says Mary Lovely, professor of economics. "And I still am present at meetings where women's views are heard and then trivialized." 

"Even though in aggregate, trade leads to economic gains, it almost always creates winners and losers," writes Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs." He adds that social protection policies "need to be in place for equity reasons as well as to build and sustain support for free trade."