The Mercatus Institute, “a university-based research center [that] works to advance knowledge about how markets work to improve our lives,” has a web page devoted to research on Hurricane Katrina. Questions explored by the Mercatus researchers include: How did New Orleans communities that have recovered since Katrina do so? What effect did social entrepreneurship have on their recovery? What kinds of government policies could facilitate a quicker recovery from future disasters? Among the experts featured are two CEE Guest Speakers, Emily Chamlee-Wright and Steven Horwitz.
Posts Tagged ‘Wal-Mart’
Over at The American, an article points out a recent study by University of Chicago economists Christian Broda and John Romalis, which found that income inequality has risen very little over the past few decades and that the benefits of trade have been underestimated.
The Broda-Romalis paper, “Inequality and Prices: Does China Benefit the Poor in America?,”[PDF] shows that from 1994 to 2005, much of the increase in U.S. income inequality was actually offset by a decline in the price index of the goods that poorer households consume. Inflation for the richest 10 percent of U.S. households, which tend to spend more on services, was 6 percent higher than inflation for the poorest 10 percent, which tend to spend more on nondurable goods, the type of goods often imported from China and sold at Wal-Mart.
Broda and Romalis found that in the sectors where Chinese imports have increased the most (especially nondurable goods such as canned food and clothing), prices have fallen dramatically. They estimate that about one-third of the price decline for the poor is directly associated with rising imports from China. “In the sectors where there is no Chinese presence,” Broda says, “inflation has been more than 20 percent.”
The Ethisphere Institute, a business ethics think tank, published a list of the 100 most influential people in business ethics in 2008. The honorees include notables in business such as actor and entrepreneur Paul Newman, Costco CEO Jim Senegal, Coca-Cola Chairman Neville Isdell, Google CEO Eric Schmidt, and Wal-Mart CEO Lee Scott.