Ethical Issues in Economics and Trade Published by Seven Pillars Institute
Free trade gets a bad rap these days in stark contrast to 2001 when President George W. Bush said “Open trade is not just an economic opportunity, it is a moral imperative.” Open or free trade is an ethical issue because it involves the freedom to use property as individuals see fit. Locke first made a case for property rights in “Of Property”. Locke states that working on an object from its natural state infuses property ownership into that object. READ MORE.
There are a few issues on which liberals and conservatives agree. The idea that free trade has the potential to benefit all is one. Free trade receives strong support from the American public, with over seventy percent of Americans reporting they believe free trade is good for the American economy READ MORE.
Economic sanctions are an important feature of the modern economic, political and social landscape, lauded as the humanitarian alternative to war, with over 500 cases of sanctions being implemented in the 1990’s alone. They are implemented with the stated intention of altering a targeted state’s behaviour, to elicit conformity with international ethical norms. READ MORE…
Which policies are more effective at reducing poverty? We review policy and poverty in the US, UK, and China. In the US we look at six areas of policy in particular: (1) transportation, (2) defense, (3) education, (4) health care, (5) pensions, or (6) general welfare. It may seem easy to differentiate between the six broad policy categories. READ MORE.
On December 9th, 2012, YPF announced it was in talks with Norway’s Statoil to start a potential partnership. Argentina is close to signing deals with Chevron, the US oil major, and Bridas Corp, the Sino-Argentine joint venture. These deals are crucial if Argentina, lacking its own capital, is to develop its massive energy reserves. Will Argentina succeed in securing these deals after the country nationalized YPF from Spanish oil company Repsol? READ MORE
As Quantitative Easing (QE) lacks an extensive history, the monetary technique, despite recent use by numerous central banks, is fraught with controversy. QE occurs when a central bank increases the money supply, often by buying government bonds through open market operations from companies and institutions. The goal is to increase liquidity, borrowing, investments, and economic activity. However, QE is associated with some negative side effects, making it a last resort strategy used after traditional methods – such as when official interest rates are near zero – have been exhausted. One of the apparent downsides is QE increases income inequality. Is this claim legitimate? READ MORE