LARRY BARTELS BOOK: “UNEQUAL DEMOCRACY”

March 9, 2009 at 11:53 pm | Posted in Books, Economics, Financial, Globalization, History, Research, USA, World-system | Leave a comment

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Unequal Democracy: The Political Economy of the New

Gilded Age

Larry M. Bartels

Cloth | 2008 | 328 pp. | 6 x 9 | 40 line

illus. 4 halftones. 65 tables.

Unequal Democracy debunks many myths about politics in contemporary America, using the widening gap between the rich and the poor to shed disturbing light on the workings of American democracy. Larry Bartels shows that increasing inequality is not simply the result of economic forces, but the product of broad-reaching policy choices in a political system dominated by partisan ideologies and the interests of the wealthy.

Bartels demonstrates that elected officials respond to the views of affluent constituents but ignore the views of poor people. He shows that Republican presidents in particular have consistently produced much less income growth for middle-class and working-poor families than for affluent families, greatly increasing inequality. He provides revealing case studies of key policy shifts contributing to inequality, including the massive Bush tax cuts of 2001 and 2003 and the erosion of the minimum wage. Finally, he challenges conventional explanations for why many voters seem to vote against their own economic interests, contending that working-class voters have not been lured into the Republican camp by “values issues” like abortion and gay marriage, as commonly believed, but that Republican presidents have been remarkably successful in timing income growth to cater to short-sighted voters.

Unequal Democracy is social science at its very best. It provides a deep and searching analysis of the political causes and consequences of America’s growing income gap, and a sobering assessment of the capacity of the American political system to live up to its democratic ideals.

Larry M. Bartels is the Donald E. Stokes Professor of Public and International Affairs and director of the Center for the Study of Democratic Politics at Princeton University.

Reviews:

“Obama can connect with voters on the economy by using history as a guideline. He should start by reading Unequal Democracy, by Princeton academic Larry Bartels. The non-partisan and non-political Bartels points out devastatingly after an exhaustive study of Democratic and Republican presidents that the Democrats built a better economy and a more just society.”–James Carville, CNN

“Many Americans know that there are characteristic policy differences between the [Republican and Democratic] parties. But few are aware of two important facts about the post-World War II era, both of which are brilliantly delineated in a new book, Unequal Democracy, by Larry M. Bartels, a professor of political science at Princeton. Understanding them might help voters see what could be at stake, economically speaking, in November.”–Alan Blinder, New York Times

“Bartels is the political scientist of the moment. Along with Obama, Bill Clinton also read and recommends Unequal Democracy. [M]ost people on the street could have told Bartels that the working poor fare better under Democrats . . . but the importance of these and some other findings in the book . . . is that they use scholarly methods to provide political explanations for economic problems.”–Michael Tomasky, New York Review of Books

More reviews

Table of Contents

Another Princeton book by Larry M. Bartels:

Subject Areas:

Copublished with the Russell Sage Foundation

Editorial Reviews

From The Washington Post

The most important issue rarely mentioned on the campaign trail this year is the gap between rich and poor in America. It is important for two reasons: The gap has been growing, and the choice between John McCain and Barack Obama likely will affect whether it narrows or expands.

That is the conclusion of Unequal Democracy, a provocative new book by Princeton professor Larry M. Bartels, one of the country’s leading political scientists. His most significant finding is that there is a partisan pattern to the size of the gap between the rich and the poor. Over the past half-century, he concludes, Republican presidents have allowed income inequality to expand, while Democratic presidents generally have not.

Lest anyone think this book is a partisan hit job by a left-wing academic, Bartels goes to great pains in his introduction to preempt the counterattack he expects from critics on the right. “I began the project as an unusually apolitical political scientist,” he writes, noting that the last time he voted was in 1984, “and that was for Ronald Reagan.” He adds that in doing this work, “I was quite surprised to discover how often and how profoundly partisan differences in ideologies and values have shaped key policy decisions and economic outcomes. I have done my best to follow my evidence where it led me.”

In Bartels’s analysis, the period from the late 1940s to the early ’70s was one of “rapid and remarkably egalitarian” growth in real incomes: Every group, from the richest to the poorest, experienced growth of between 2.4 percent and 2.7 percent per year. Since 1974, the pattern has skewed significantly toward the rich. Overall income growth has slowed, and it has slowed far more for those at the bottom than at the top.

Bartels acknowledges that there can be many explanations for growing income inequality, from globalization and structural changes in the U.S. economy to technological and demographic shifts. But he argues that it is wrong to assume there is no cause-and-effect relationship between government policies and income distribution. In fact, he asserts, “economic inequality is, in substantial part, a political phenomenon.”

Bartels comes to this conclusion by examining what happened to income inequality from President Truman to President George W. Bush. “Under Democratic presidents,” he writes, “poor families did slightly better than richer families (at least in proportional terms), producing a modest net decrease in income inequality; under Republican presidents, rich families did vastly better than poorer families, producing a considerable net increase in income inequality.”

He concludes that the income gap increased under Presidents Eisenhower, Nixon, Ford, Reagan and both Bushes, while it declined under four of the five Democratic presidents who have served during this period — all except Jimmy Carter. That pattern, he asserts, “seems hard to attribute to a mere coincidence in the timing of Democratic and Republican administrations.” Rather, Democratic and Republican presidents have pursued different economic policies, with Democrats generally focused more on raising employment and output growth, which disproportionately benefit poor and middle-class families. Republicans have worried more about containing inflation, which has “negligible” effects on real income growth near the bottom of the income distribution but “substantial effects at the top,” Bartels says. On tax policy, Republican presidents, especially since Reagan, have pushed tax cuts that have disproportionately helped the wealthiest Americans.

Bartels uses the election of 2000 to illustrate, with a hypothetical example, how much difference presidential leadership realistically may make in the distribution of income in America. In Bush’s first four years, families in the top 95th percentile of income received a 2-percent cumulative increase in real income. Middle-income families saw a decline of 1 percent, while poorer families saw a decline of 3 percent. Based on historical data for Democratic presidents, Bartels estimates that if Al Gore had been elected instead of Bush, the working poor would have seen an increase of about 6 percent, while the wealthy would have seen essentially no gain.

Why don’t voters hold Republican presidential candidates accountable for what appears to be such a clear pattern? Bartels doesn’t buy the hypothesis that lower-income Americans vote against their own economic interests because they put more stock in social and cultural issues when they pick a president. He was one of the first to challenge that idea when it was advanced in Thomas Frank’s book What’s the Matter with Kansas four years ago. Bartels argues that, nationally, the white working class has become more loyal to Democratic presidential candidates, not less. He contends that Republican gains have come mainly among middle- and upper-income voters, and that the overall shift away from the Democrats is almost entirely attributable to the partisan transformation of the South over the past 40 years or so.

One of Bartels’s most intriguing conclusions is that the political timing of economic growth has influenced voters, and that this has helped Republicans, despite their overall pattern of increasing the gap between rich and poor. Republicans presidents, he concludes, have often generated significant economic growth rates in presidential election years, while Democratic presidents have not. If only election years are counted, families at every income level “turn out to have fared much better under Republican presidents than under Democrats,” he writes. “Whether through political skill or pure good luck, Republican presidents have been remarkably successful in targeting income growth to coincide with presidential elections.”

No political party or administration can be held responsible for the global economic changes that affect income inequality, Bartels acknowledges. But, he goes on to say, “It certainly seems fair — and perhaps even useful — to hold political parties accountable for the profound impact of their policies on the way those structural changes shape the economic fortunes of wealthy, middle-class and poor American families.”

Review

“I call the first fact the Great Partisan Growth Divide. Simply put, the United States economy has grown faster, on average, under Democratic presidents than under Republicans.” –Alan S. Blinder, The New York Times, August 31st, 2008

Obama can connect with voters on the economy by using history as a guideline. He should start by reading Unequal Democracy, by Princeton academic Larry Bartels. The non-partisan and non-political Bartels points out devastatingly after an exhaustive study of Democratic and Republican presidents that the Democrats built a better economy and a more just society. Carville, CNN

Many Americans know that there are characteristic policy differences between the [Republican and Democratic] parties. But few are aware of two important facts about the post-World War II era, both of which are brilliantly delineated in a new book, Unequal Democracy, by Larry M. Bartels, a professor of political science at Princeton. Understanding them might help voters see what could be at stake, economically speaking, in November. — Alan Blinder New York Times

Bartels is the political scientist of the moment. Along with Obama, Bill Clinton also read and recommends Unequal Democracy. [M]ost people on the street could have told Bartels that the working poor fare better under Democrats … but the importance of these and some other findings in the book … is that they use scholarly methods to provide political explanations for economic problems. — Michael Tomasky New York Review of Books

A short review cannot convey the rich variety of arguments and data Bartels deploys in making his case. Some of his analysis focuses on broadly characterized partisan differences, some on high profile examples such as the politics of the minimum wage and the estate tax. He will have done a considerable service if the next time we start thinking about economics we also think about politics. Bartels shows that social issues do not create as strong a headwind against class-based voting as is often assumed and that lower income voters do tend to vote Democratic while upper-income voters do tend to vote Republican. Unequal Democracy offers an important case for why this might be. — Robert Grafstein Science [A] provocative new book by Princeton professor Larry M. Bartels, one of the country’s leading political scientists. One of Bartels’s most intriguing conclusions is that the political timing of economic growth has influenced voters. Republican presidents…have often generated significant economic growth rates in presidential election years, while Democratic presidents have not. — Dan Balz Washington Post [E]xtraordinarily insightful. — Bob Braun Newark Star-Ledger

Unequal Democracy makes the choice voters face clear: Democratic policies spread the wealth and Republican policies protect the wealthy. — Julian E. Zelizer The Huffington Post

[Bartels] is correct in drawing attention to the tension between the egalitarian values that Americans hold and their apparent toleration for growing economic inequality. And at every step of the argument, he defines and analyzes interesting and relevant evidence. — Richard R. John Forum

Product Details:

  • Hardcover: 328 pages

  • Publisher: Princeton University Press

  • April 7, 2008

  • Language: English

  • ISBN-10: 0691136637

  • ISBN-13: 978-0691136639

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TWO NEW DELHI INSTITUTES

March 9, 2009 at 11:12 pm | Posted in Development, Financial, Globalization, India, Third World | Leave a comment

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Centre for Policy Research

Dharam Marg, Chanakyapuri

New Delhi – 110021

Tel: 91-11-26115273-76 (4 Lines)

Fax : 91-11-26872746

Email: cprindia@vsnl.com

International Management Institute

B-10, Qutab Institutional Area

Tara Crescent, New Delhi – 110016

India

India’s first corporate sponsored Business School

Tel: 91-11-26529237/38/39, 26863701, 2696 1437/3519/6143/9089, 46012730/31
Fax: 011-26867539
Email: imiinfo@imi.edu

Contact Person

Name

Phone (Ext.)

Email

Director

Dr. C.S.Venkata Ratnam

26968351,26529241 (D)
Ext. 3103

csvenkataratnam@imi.edu

Registrar

Col. B. R. Kapoor

26529240 (D) Ext. 3101

brkapoor@imi.edu

Dean (Academics)

Prof. Himadri Das

Ext. 3315

himadri.das@imi.edu

Dean (Corporate Relation)

Prof. Anup K. Singh

26528278 (D)
Ext. 3427

aksingh@imi.edu

Dean (Student Welfare)

Prof. B.K. Srivastava

Ext. 3301

bhupen@imi.edu

Programme Director (PGDM-I)

Prof. V. Chandra

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CHINA & INTERNATIONAL MINING INFO

March 9, 2009 at 10:29 pm | Posted in Africa, China, Economics, Research, Science & Technology | Leave a comment

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Associations

· China Mining Association

· China Mining Association Canadian Office

· China Iron & Steel Association

· China Salt Industry Association

· China Chemical Mining Association

· Metallurgical Mines’ Association of china

· China Ceramic lndustrial Association

· China Sand Stone Association

Government

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· China Geological Survey

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· State-owned Assets Supervision and Administration

· National Bureau of Statistics of China

· Ministry of Finance People’s Republic of China

Industry Info

· China Coal Information Institute

· China Building Materials Information

· Coalworld.net

· steelhome.cn

· China Gold Network

· Ferro-alloys

· China Coal Resource

· Non-metallic Materials Information Department

Education

· Changchun Gold Research Institute

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· Beijing General Research Institute of Mining& Metallurgy

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· China University of Mining and Technology

· China Nonferrous Engineering and Research Institute

International links

· Kitco.com

· PNG Chamber of Mines and Petroleum

· Ministry of Mines (India)

· Mining in Zambia

· Association of Mining and Exploration Companies Inc.

· Australasian Institute of Mining and Metallurgy

· Natural Resources Canada

· National Mining Association (American Resources)

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BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 26: GLOBAL ECONOMIC CRISIS

March 9, 2009 at 6:56 pm | Posted in Economics, Financial, Globalization, Research, World-system | Leave a comment

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BIS Review

Bank for International Settlements

BIS Review No 26 available‏

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Mon 3/09/09

Please find BIS Review No 26 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 26 (9 March 2009)

European Central Bank: Press conference – introductory statement

Zeti Akhtar Aziz: Strengthening relations between Indonesia and Malaysia

Boediono: Living in a global economic crisis

Njuguna Ndung’u: Economic and financial developments in Kenya

Donald L Kohn: American International Group

please e-mail press.service@bis.org.

BIS Review

Bank for International Settlements

BIS Review No 26 available‏

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

http://www.bis.org/review/index.htm

Mon 3/09/09

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STRESS-TESTING MODEL FOR GERMAN BANKS

March 9, 2009 at 12:11 pm | Posted in Economics, Financial, Germany, Globalization, Research, World-system | Leave a comment

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Bundesbank Discussion Paper‏

Newsletter Forschungszentrum Bundesbank

Bundesbank Research Centre

Mon 3/09/09

Dear customer,

integrated stress-testing model

for the German banking system
The Bundesbank Research Centre has released a new Discussion Paper (No. 04/2009 Series 2).

Author/s:

Sven Blank
Claudia M. Buch
Katja Neugebauer

Title:

Shocks at large banks and banking

sector distress: the Banking Granular

Residual

Abstract:

Size matters in banking. In this paper, we explore whether shocks originating at large banks affect the probability of distress of smaller banks and thus the stability of the banking system. Our analysis proceeds in two steps. In a first step, we follow Gabaix (2008a) and construct a measure of idiosyncratic shocks at large banks, the so-called Banking Granular Residual. This measure documents the importance of size effects for the German banking system. In a second step, we incorporate this measure of idiosyncratic shocks at large banks into an integrated stress-testing model for the German banking system following De Graeve et al. (2007). We find that positive shocks at large banks reduce the probability of distress of small banks.

http://vo5555.newsletter.bundesbank.de/servlet/rd?l=Diskussionspapiere-JOKA-PJN1-M7DJ-ONL3-NWSL74

+ 01: Deutsche Bundesbank
Forschungszentrum
Research Centre
Wilhelm-Epstein-Strasse 14
60431 Frankfurt am Main
Germany

+ 02: Kontakt
presse-information@bundesbank.de

Bundesbank Discussion Paper‏

Newsletter Forschungszentrum Bundesbank

Bundesbank Research Centre

(vo5555@newsletter.bundesbank.de)

Deutsche Bundesbank
Research Centre
Wilhelm-Epstein-Strasse 14
60431 Frankfurt am Main
Germany

Mon 3/09/09

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CAMBRIDGE FORECAST GROUP: CFG WEBSITE

March 9, 2009 at 2:21 am | Posted in Development, Economics, Financial, Globalization, History, Research, Third World, World-system | Leave a comment

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CAMBRIDGE FORECAST GROUP

Analyzing globalization, the Middle

East & the world-system

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CAMBRIDGE FORECAST GROUP

Analyzing globalization, the Middle East & the world-system

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CAMBRIDGE FORECAST GROUP: CFG “BACKGROUND ESSAYS”

March 9, 2009 at 1:37 am | Posted in Economics, Financial, Globalization, History, Third World, USA, World-system, Zionism | Leave a comment

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CAMBRIDGE FORECAST GROUP

BACKGROUND ESSAYS

Background Essays

CAMBRIDGE FORECAST GROUP

Explaining the CFG Home Page

Explaining the CFG Home Page II: The Two World Systems

Explaining the CFG Home Page III

CFG Essay: Explaining the Present

Jerusalem Summits: Zionomics & Counterglobalization

Yemen Times: Israel’s Hidden Agenda by Richard Melson

Muslims & Jews in the World-System

Muslims & Jews in the World-System II

Muslims & Jews in the World-System III: Palestine as Bantustan

Muslims versus Jews

How to Predict the Future

Tomorrow: Muslims versus Jews in Globalization

Israel’s Global Disruption Strategies

Israel’s Global Disruption Strategies II: How Zionist Professors like Efraim Karsh Promote Rabid Islamo-Phobia

Islamic Finance & the Emerging International System

World Islamic Banking Conference: Globalization & Islamic Financial Instruments

Globalization & Development: Islamic Financial Instruments

CFG New Japan Book: December 2005 Release

Economic Growth and Human Capital

Unsustainable Patterns of World Economic Growth

The World Economy from Charlemagne to the Present

The Reagan Revolution

A Primer on Development Economics

Globalization Blocked by Western Judeocentrism

Globalization Blocked by Western Judeocentrism II

Jews & Blacks in the World System

Third World Phobia and US Politics

Islamophobia as Global Zionist Industry

Jerusalem Summits: Global War against Islam as Type of Zionist New World Order

Initial CFG Newsletters & Forecasts

Douglas Feith NSC Letter about CFG Newsletters

Critique of CFG Perspective: Hamano Book Review

Book Proposal by CFG

Circular Flow & Disarticulation

Circular Flow II

Climate Change & Carbon: Professor Daniel Schrag Harvard

Richard Fisher Perspective: Dallas Fed

Lawrence Summers Harvard Speech: Centrality of Third World

History as Context: Mexico I

History as Context: Mexico II

History as Context: Anglo-American Deep History as Root of Recent Neoliberalism

1919: Global & Parochial Views

Globalization: Metaphysical Aspects

Globalization: Metaphysical Aspects II

Globalization: Metaphysical Aspects III

Globalization: Bob Dylan & Zionism

Post-Zionism?

Same Bed, Different Dreams

Zionist New World Order: Arab Cartoons

Zionist New World Order: Arab Cartoons I

Restratification Nightmares: Neocon Anxiety about Non-Zionist New World Order

Strategic Ellipse

Global versus World: Terminology Quest

Globalization of Antagonisms

Zelikow Condoleezza Rice & Israel

CAMBRIDGE FORECAST GROUP

BACKGROUND ESSAYS

Background Essays

http://www.cambridgeforecast.org/

CAMBRIDGE FORECAST GROUP

© 1997-2008 Cambridge Forecast Group

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