July 14, 2008

U.S. Foreign Policy Needs a New Playbook

Stale Cold War mentality fosters distrust toward the United States

Alliance Curse

America has a bad habit of compromising its core values of freedom and democracy by forging alliances with dictators who don’t support these basic tenets. During the Cold War, all a developing country needed to do in order to gain U.S. support was to stay out of the Soviet orbit—the enemy of our enemy was our friend. We thus found ourselves siding with despots such as Ferdinand Marcos, Mobutu of Zaire, the Shah of Iran—the list goes on. Similarly, being a source of vital resources or a protector of “international stability” in today’s world is too often sufficient qualification for U.S. aid.

Author Hilton Root takes a shrewd look at what is happening in American foreign affairs in Alliance Curse: How America Lost the Third World. He challenges long-held assumptions about our actions abroad, arguing that “outmoded” may be a more accurate description of our foreign policy than “current.”

Root’s book, just published by the Brookings Institution Press, comes at a turning point in America’s history. Unfortunately, our recent track record shows that we haven’t learned from the past. In Pakistan, a hotbed of Islamic fundamentalism, the United States has contributed billions of dollars to Pervez Musharraf’s government, largely to secure its support in the war on terror. That aid, however, still has not secured the loyalty of the military regime or the friendship of the population. Root questions the wisdom of providing aid to governments that remain corrupt and tyrannical, in light of the potential blowback.

So, what should America do at this crossroads? Root, a professor of public policy at George Mason University, argues that fostering economic development—not propping up dictators—is the better course for the country’s short-term and long-term goals. In the long term, it is actually a more effective strategy for building stability and winning the hearts and minds of the developing world.

You can hear from the author himself about his alternative strategy to close the gap between security and economic development. Hilton Root will be appearing at Politics & Prose Bookstore in Washington, D.C. this Saturday, July 19th at 1 p.m. Don’t miss out!

- Learn more about Alliance Curse.

- Learn more about the event at Politics & Prose.

May 21, 2008

Working Longer Could Save Your Retirement Plan

Launching into a New Age for Retirement

Working Longer Retirement seems farther off than anticipated for some, but authors Alicia Munnell and Steven Sass provide a solution in order to keep your retirement plan intact and within reach.

We all know that the third time is the charm, three strikes mean you’re out, and the genie only grants you three wishes. What you might not know, is that the number three could also be the magic number that rescues your retirement plan. Working Longer, a new book from the Brookings Institution Press, tackles the slowly aging question about aging: how can retirement plans be salvaged? Authors Alicia Munnell and Steven Sass conclude that the key to increasing retirement income lies in pushing the retirement age from 63 to 66.

Upon analyzing the pros and cons associated with elderly employees in the work place, Wall Street Journal writer David Wessel describes Munnell and Sass’ suggestion as a silver lining in the problem. In his article “Older Staffers Get Uneasy Embrace”, Wessel surmises that “Lengthening life spans don't mean you have to find a boss who will let you work forever…delaying retirement three or four years—to 66, instead of 62, say—will boost retirement income by a third.” The question is does this theory hold any water? More importantly, when you turn 63 will you be in the position to work for three more years? Munnell and Sass answer these questions and more with their findings in Working Longer.

John H. Biggs, former chairman and CEO of TIAA-CREF, is justified in pointing out that “We have made remarkable progress in improving health and longevity. Now we need to figure out how to finance the substantially longer retirements these gains have produced.”

Regarding Working Longer Briggs also comments that "Anyone who is interested in preparing our country for a better retirement future should read this elegant essay."

Read Working Longer for yourself and find out where you stand on this important issue, because whether you’re three years away from retirement or thirty, a new plan might be the best thing for us all.

- Read David Wessel’s article “Older Staffers Get Uneasy Embrace” on wsj.com.

- Learn more about how Working Longer can save your retirement plan.

January 29, 2008

Allied Social Science Associations 2008 Convention

AEA LogoThe Brookings Press joined several thousand participants in New Orleans at the 2008 convention of the American Economic Association/Allied Social Science Associations (AEA/ASSA), America’s largest congregation of academic and professional economists. In between multiple feedings of crawfish etouffee, jambalaya, and piping hot gumbo, we managed to display our newest books in business and economics as well as meeting with some current and potential future authors.

BIP representatives Chris Kelaher and Jaime Fearer were very excited at the prospect of traveling to warmer climes in early January. Much to their chagrin, however, the Big Easy was nearly as cold as Washington when we landed. Who gets frostbite in Louisiana?! Fortunately, things warmed up as the week progressed. The city was packed, as the New Orleans tourism officials managed to sneak the ASSA convention in between the Sugar Bowl (between Georgia and Hawaii) and the BCS National Championship football game between Ohio State and Louisiana State. Bourbon Street was a sea of scarlet and gray as Buckeye fans poured into the Delta: “Toto, we’re not in Columbus anymore!” (They weren’t nearly as happy a few days later: LSU prevailed, 38–24.)

Our most popular title at ASSA was Yegor Gaidar’s Collapse of an Empire: Lessons for Modern Russia. Tied for second were Opportunity 08, edited by Michael O'Hanlon, and Cliff Winston’s Government Failure vs. Market Failure.

Panel topics that captured people’s attention included expert discussions of the subprime crisis, climate change, the economics of national defense, and post-Katrina recovery. Among the speakers commanding large audiences were Paul Krugman, Jamie Galbraith, Joseph Stiglitz, Alan Blinder, and Robert Shiller.

Next year’s ASSA convention will be held January 3–5 in San Francisco. If economics is your bailiwick, maybe we’ll see you in the Bay Area.

- Learn more about ASSA.

- Check out the titles that were popular at ASSA:

December 07, 2007

Collapse of an Empire

Former Russian Prime Minister Yegor Gaidar Offers Lessons for a Modern Russia

Collapse of an Empire In today’s Russia, nostalgia for the Soviet era is growing; some would point to Putin’s victory this past Sunday as evidence. Many Russians reflect wistfully on the passing of a time when the Soviet Union was a superpower, commanding international respect, and they blame its demise on external enemies and foolish changes in policy. In Collapse of an Empire: Lessons for Modern Russia, however, economic reformer and former prime minister Yegor Gaidar clearly illustrates why such notions are misguided, ill-informed, and dangerous.

Gaidar cautions that Russia could be repeating some of its tragic past mistakes, including uneven economic development that leaves the nation vulnerable to fluctuations in the energy market. Such misplaced nostalgia defies reality while it imperils the future of Russia and its people.

Dr. Gaidar made a whirlwind tour of the United States this week. Brookings hosted a book launch featuring Dr. Gaidar on December 3 Washington, DC. On December 5, Dr. Gaidar spoke at a public program hosted by the Chicago Council on Global Affairs. The tour concluded at Columbia University’s Harriman Institute in New York City for an event featuring the book on December 6.

- Check out the full Brookings book launch transcript [coming soon].

- Listen to Dr. Gaidar discuss the Russian election results on NPR’s The Diane Rehm Show.

- Listen to Dr. Gaidar discuss the Russian election results on BBC’s The World.

- Learn more about Collapse of an Empire.

November 26, 2007

Book Launch Bonanza

Three new release launches and a sneak peek at Red and Blue Nation? Vol. II in the coming week

Bouncing right back from turkey overload, Brookings is hosting three new book release launches through early next week, with a discussion on a forthcoming title in the mix for good measure. You can register for these public events at the links below.

See you there!

November 07, 2007

Opportunity 08: Independent Ideas for America's Next President

Brookings book launches an intense focus on issues, not partisanship

Opportunity 08 The book Opportunity 08 emerges from a special bipartisan project created by Brookings, in partnership with ABC News, to offer solutions to America’s most pressing policy challenges. This new book will help candidates, the media, and voters focus on the critical issues at stake in the first presidential election since 1928 that does not include an incumbent president or vice president.

The diverse roster of contributors to Opportunity 08 reflects an impressive breadth of expertise, opinions, and political beliefs. This team of experts addresses voters’ demand to hear more about issues and less about partisan politics by presenting authoritative analysis and innovative policy solutions on a wide array of domestic and foreign policy questions.

Furthermore, this volume contextualizes these crafted plans for action by explaining not simply what should be done but why it should be done. This framework serves as a launching pad for a sharp focus on specific issues, which shapes the three distinct sections of the book. Part One of the book is titled "Our World," and its topics include the challenge of dealing with Iran, the rise of China, climate change, oil dependence, Middle East peace and the future of Iraq. Part Two, "Our Society," features accessible treatment of domestic issues such as voting reform; housing policy; poverty, inequality, and upward economic mobility. Part III, "Our Prosperity," tackles vexing problems such as the budget deficit, health care access and quality, retirement security, and the challenge of strengthening information technology in the United States.

- Learn more about Opporunity 08.

- Learn more about the Opportunity 08 Research Project.

September 19, 2007

The Federal Budget

Third edition of classic Brookings bestseller takes on the U.S. deficit

The Federal Budget, Third Edition With the federal budget deficit for 2007 projected at $158 billion, the fiscal future of the United States remains a hot topic. As the deficit continues to grow, will America be fully able to fund its priorities, such as maintaining an effective military and looking after its aging population?

In the third edition of The Federal Budget, Brookings scholar Allen Schick examines how surpluses projected during the final years of the Clinton presidency turned into oversized deficits under George W. Bush. In his detailed analysis of how the budget process works and the politics and practices surrounding the federal budget, Schick addresses issues such as the collapse of the congressional budgetary process and the threat posed by the termination of discretionary spending caps. This edition updates and expands his assessment of the long-term budgetary outlook, and it concludes with a look at how the nation’s deficit will affect America now and in the future.

- Learn more about The Federal Budget.

September 18, 2007

Patent Reform Act Heads to Senate

Author Ben Klemens says legislation doesn’t address the real problem

Ben KlemensAs the Senate considers H.R. 1908, the Patent Reform Act of 2007 passed by the U.S. House, critics worry that the legislation is missing the point. In a posting to Google’s Public Policy Blog, Ben Klemens wrote:

“I wish you guys would put your weight behind solving the real problem: subject matter expansion. Until the mid-1990s, a patent had to have a non-trivial physical element, like a drug or a new machine; but at that time, a panel of former patent attorneys decided—without referring to Congress or other prior study—that non-physical objects like mathematical algorithms and business methods should be patentable.”

Math You Can't Use Klemens is author of Math You Can’t Use: Patents, Copyright, and Software, which explains that patent laws are intended to apply to physical machines and should never have been extended to include software. The book describes why the current patent and intellectual property system for software is such a mess—and proposes how to clean it up.

- Learn more about Math You Can’t Use.

- Read more about patent reform at InformationWeek.com.

September 07, 2007

Requiem or Revival? The Promise of North American Integration

New book criticizes NAFTA while North American leaders defend it at annual summit

Requiem or Revival? Canadian Prime Minister Stephen Harper met recently with US President George Bush and Mexican President Felipe Calderón near Ottawa for the annual North American Summit, aiming to strengthen security and economic ties between their countries. At the conclusion of the two-day summit, the three leaders issued a joint statement in which they said, "We must build on NAFTA's success and reduce unnecessary trade barriers to ensure North America remains a competitive and a dynamic place to do business."

At the same time, NAFTA, or the North American Free Trade Agreement, is receiving a growing amount of criticism from citizens of the three member nations. More than a dozen years after NAFTA's controversial but hopeful launch in 1994, progress toward economic integration has stalled. Mexico's economy remains far behind those of Canada and the United States, and such pressing issues as energy security remain unaddressed. In the timely new book, Requiem or Revival? The Promise of North American Integration, edited by Isabel Studer and Carol Wise, scholars and policymakers from all three nations dissect NAFTA's failure to fulfill its early promise and evaluate the prospects for further integration.

- Learn more about Requiem or Revival?

August 10, 2007

Global Trade and Poor Nations

New book assesses the impact of reformed trade policies on the world’s poorest nations

Global Trade and Poor Nations Global Trade and Poor Nations presents the likely effects of global trade reform on seven of the poorest countries in the world. The contributors, led by editors Bernard M. Hoekman and Marcelo Olarreaga, take into consideration the reforms agreed upon under the auspices of the World Trade Organization’s Doha Round and investigate the economic changes that would likely arise. The seven selected nations (Bolivia, Cambodia, Ethiopia, Madagascar, Nicaragua, Vietnam, and Zambia) represent a geographical and cultural cross-section of countries, allowing the analysis presented in the book to reach more than just one localized area of international trade policy. The researched showed that trade liberalization can potentially be a powerful catalyst for economic growth, which is crucial to mitigating poverty and sparking development.

The new book is published in conjunction with the Groupe d’Economie Mondiale at Sciences-Po, Paris and the Yale Center for the Study of Globalization (YCSG). YCSG strives to examine “the impact of our increasingly integrated world” on every level: individual, local, and national. The Center disseminates its cutting-edge analysis in the hopes of ultimately linking “academia and the policy world.” The current director of the YCSG, Ernesto Zedillo, who writes the foreword for Global Trade and Poor Nations, was preceded by current Brookings President Strobe Talbott.

- Learn more about Global Trade and Poor Nations.

- Learn more about the Groupe d’Economie Mondiale at Sciences-Po.

- Learn more about the Yale Center for the Study of Globalization.

Search this Blog