Knowledge@Emory -- Public Policy and Management

A Historical Look at the Power and Impact of Stimulus

Fri, 17 Apr 2009 00:26:10 EST

It's too early to tell whether U.S. President Barack Obama’s $787 billion stimulus package will be an antidote for an economy that’s on life support or prolong inefficient industry practices, reward bad choices, and saddle America with crippling debt. Economic stimulus to jump-start an ailing economy, however, is far from new and has been used in the past with mixed results. Faculty at Emory University and its Goizueta Business School explore the historical implications of economic stimulus and offer their thoughts on the challenges ahead

French Ambassador Pierre Vimont Calls for Revitalizing U.S.-European Relations

Thu, 12 Mar 2009 15:49:14 EST

With a new party at the helm in Washington and new directions in foreign policy under President Barack Obama, the French ambassador to the U.S., Pierre Vimont, says that the transatlantic relationship between the U.S. and Europe faces “a moment in history of great importance” and an “opportunity we haven’t had in the past.” In a recent presentation at Emory University as part of the Halle Speaker Series, Ambassador Vimont discussed the common challenges facing the U.S. and the European Union—including the financial collapse, climate change, and the Middle East—arguing that “we need to find a collective solution” to these crises, because “no single country can find a way out alone.”

CARE CEO Helene Gayle on Empowering Women and Strengthening Foreign Assistance

Thu, 15 Jan 2009 17:18:35 EST

According to Helene Gayle, president & CEO of CARE, USA, a leading humanitarian organization fighting global poverty, there is still a need for a more comprehensive and systematic approach to foreign assistance. More often than not, assistance money is earmarked for specific projects or concerns, such as HIV. If a community is in dire need of a good water system, it can’t spend any or part of assistance money designated for other things to build one, Gayle explained to students during a recent visit to Emory University's Goizueta Business School. Says Gayle, “There’s a lot more potential to extend what we do in ways that are more useful.”

What Lies Ahead for U.S. Automakers?

Thu, 11 Dec 2008 18:36:48 EST

With a federal bailout proposal for the Big Three U.S. automakers in tatters as Knowledge@Emory goes to press, many observers wonder if executives at American carmakers—still depending on gas-guzzling SUVs 35 years after the auto industry was first shaken by seesawing fuel prices—have really learned anything. To find out, Knowledge@Emory spoke with Jagdish Sheth, a chaired professor of marketing at Emory University’s Goizueta Business School. Sheth said that a simple handout will not solve the problems faced by General Motors, Ford and Chrysler. Instead, he says, the car companies need to rework the way they do business. Sheth’s published works include The Self-Destructive Habits of Good Companies...And How to Break Them.

The U.S. Economy: What Happened & What�s Next?

Thu, 13 Nov 2008 13:36:10 EST

Making sense of the myriad events that catapulted the United States into a recession is no easy task. Six economists from Emory University’s Goizueta Business School tackled the topic during an October 30 panel discussion sponsored by Knowledge@Emory. According to the professors, years of short-sighted decisions dug the hole the U.S. economy finds itself in, and it will take long-term leadership to climb out of that hole.

Understanding the Potential Impact of the U.S. Financial Bailout

Thu, 09 Oct 2008 15:33:12 EST

With the revamped Emergency Economic Stabilization Act of 2008 now finally passed by the U.S. House of Representatives and the Senate, and signed by President George W. Bush, the much-debated financial bailout plan is now a reality. But as the Dow plummets, the global financial markets take a hit, and U.S. credit markets freeze, can the plan provide relief fast enough to rescue the nation’s beleaguered financial institutions and, in turn, the faltering economy? Professors at Emory University’s Goizueta Business School spoke with Knowledge@Emory about the implications of the bailout.

Assessing Conservatorship for Freddie Mac and Fannie Mae

Thu, 11 Sep 2008 16:05:35 EST

On September 7, U.S. Treasury Secretary Henry M. Paulson, Jr. revealed the Treasury and Federal Reserve approved a plan placing Freddie Mac and Fannie Mae in conservatorship that day. Now, a newly created independent regulatory body, the Federal Housing Finance Agency (FHFA), is charged with the onerous task of getting Fannie Mae and Freddie Mac out of their financial woes. Goizueta professors discuss the dramatic move and look ahead to what the future might hold for these government-sponsored enterprises—holders of at least one-half of the nation’s home mortgages.

Will the Spotlight of the Olympics Spur Change in China?

Thu, 14 Aug 2008 13:00:01 EST

With the world’s attention on Beijing and the 29^th Summer Olympic Games, will China continue to promote innovative thinking as displayed by Sunday’s opening ceremonies or will it be business as usual once the Games end and the cameras are turned off? “The Chinese leadership may regret opening China with the Olympics,” notes John Stremlau, vice-president for Peace Programs at The Carter Center of Emory University. Recently, Stremlau moderated a panel of Carter Center experts, Emory faculty and other guests who gathered at the Center to discuss the prospects of democratization in China. Although the glamour of the Games is showcasing the country’s ingenuity, it’s also focusing a spotlight on issues that are brewing discontent within the country and may make both government control and democracy difficult to come by.

Did Bear Stearns Deserve a Taxpayer-Backed Bailout?

Wed, 09 Apr 2008 15:53:48 EST

On April 3, the Senate Committee on Banking, Housing, and Urban Affairs grilled Federal Reserve Chairman Ben S. Bernanke on the Fed’s decision to offer a $29 billion guarantee from the Treasury Department to help an ailing Bear Stearns. Experts at Emory University’s Goizueta Business School debate the impact a failure of Bear Stearns might have and whether taxpayer funds should be used to prop up an investment firm.

Will Businesses Benefit from Recent U.S. Supreme Court Rulings?

Wed, 12 Mar 2008 22:06:43 EST

On February 20, the U.S. Supreme Court handed down three rulings that appear to backtrack its previous commitment to defer to state law. “The court’s recent rulings represent a victory for business,” says William Buzbee, a professor of law and director of the Center on Federalism & Intersystemic Governance at Emory's School of Law. “The act of preempting state law with federal law knocks out the regulatory power of states.” While businesses may have reason to cheer, as in the medical device ruling that protected the manufacturer from a civil suit because the product was approved by the U.S. Food and Drug Administration, experts at Emory University and its Goizueta Business School say the high court’s rulings may limit the ability of both the federal government and the states to protect health and safety in important areas.

Access to Markets as a Strategy to Address Poverty in India

Wed, 11 Jul 2007 21:28:32 EST

With a GDP approaching $700 billion (U.S.), India is reaping the rewards of its burgeoning services sector. But nearly two-thirds of the country�s 1.2 billion inhabitants reside in rural areas and depend on a declining agricultural industry for their livelihood. Gains made in the services sector have bypassed them. According to Nachiket Mor, board member and deputy managing director, ICICI Bank, India�s second largest, giving India�s extremely poor access to basic financial services is not only a giant step in terms of alleviating poverty in India, it�s also profitable for financial institutions. Recently, Mor, also a board member at CARE, spoke to students at Emory University�s Goizueta Business School about how individual loans of $500 U.S. can not only change the course of a country�s economy, but create profits for the institutions that do the lending.

Mario Baldassarri�s Cautionary Tale of the Dangers of America�s Escalating Debt

Thu, 14 Sep 2006 00:27:50 EST

What are the implications of an integrated global economy? On a recent visit to Emory University�s Goizueta Business School, Italy�s Vice Minister of the Economy and Finance Mario Baldassarri offered a cautionary tale to the U.S. regarding its escalating debt. Baldassarri noted that the global economy�s �real nuclear weapon� might well be the economic growth of China and its continued financing of U.S. debt. These and other issues are the content of a forthcoming book The World Economy Toward Global Disequilibrium, by Baldassarri and Pasquale Capretta, under publication by Palgrave-MacMillan.

Shifting Alliances May Mean The World Isn�t So �Flat� After All

Wed, 09 Aug 2006 19:52:49 EST

A few years ago, Thomas Friedman ignited the business world with his book The World is Flat, in which he argues that the economic playing field between developing and developed countries is now level. But what if the economic road isn�t so smooth? In his new book, Tectonic Shift, Jagdish Sheth, a professor of marketing and corporate strategist at Emory University�s Goizueta Business School, offers a theory that suggests maybe Friedman wasn�t quite right, and the world isn�t becoming �flat.� Instead, Sheth predicts that in the future, the world will actually be a bit bumpy.

U.S. Immigration: The Economic Debate

Wed, 12 Jul 2006 20:06:40 EST

The debate over the future of undocumented workers in the U.S. has businesses as well as politicians and the workers themselves rallying for some type of reform. Business observers at Emory University and its Goizueta Business School explore the many sides of the issue and offer their thoughts on what could be a simple matter of supply and demand.

Analyzing the Mystery of Capital in Less Developed Countries

Wed, 14 Jun 2006 19:07:44 EST

On March 30, the World Bank�s directors approved $52 billion in debt relief for poverty-stricken countries. Still, the move was viewed as but one small step in a growing debate on how best to reduce poverty abroad. Knowledge@Emory spoke with Sudipta Basu, associate professor of accounting at Emory University�s Goizueta Business School, regarding economist Hernando de Soto�s book The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else and its groundbreaking premise that secure and widely accepted property rights are really what is needed to unleash the potential in the hidden and underground economies in less developed countries.

�PortGate�: Is it a Question of Security or Transparency?

Wed, 12 Apr 2006 20:29:56 EST

In the wake of abuses at Enron and WorldCom among others, the U.S. Congress moved swiftly to enact the 2002 Sarbanes-Oxley Act, to promote enhanced disclosure and oversight of business dealings within a firm. But as revelations of a rather quiet deal struck by members of the U.S. government to sell six U.S. port units to Dubai-owned DP World exploded into a political storm last month, is there a need for transparency in the U.S. government? Faculty at Emory University, its Goizueta Business School and others examine the issue.

Katrina: Six Months Later; Has Anything Changed?

Wed, 12 Apr 2006 20:29:56 EST

As U.S. President Bush makes his tenth visit to New Orleans this week, the questions surrounding the recovery effort, rebuilding, and costs continue to murk an already besieged area. In September, a panel of experts from various disciplines across Emory University gathered to discuss the ethical responses to Hurricane Katrina. It's been six months since the disaster. Recently, Knowledge@Emory revisited with the faculty members to find out their thoughts on the progress�or lack of it.

Is the American Dream an Illusion?

Wed, 08 Mar 2006 23:13:46 EST

Acclaimed author, journalist, and social critic Barbara Ehrenreich admits to being out of touch with the corporate world. In books and articles, she routinely covers the plight of the underclass, profiling low-income workers in the U.S. and abroad. In her latest work, Bait & Switch: The (Futile) Pursuit of the American Dream, Ehrenreich once again goes undercover. But instead of investigating the poor and working class, she delves into the struggles of downsized white-collar professionals.

Is Katrina�s Punch a Wake-up Call?

Thu, 06 Oct 2005 14:13:47 EST

As relief agencies, faith-based groups, and individuals scramble to assist residents of the Gulf Coast region displaced by Hurricane Katrina, the economic and political impact of the disaster can only be estimated. Faculty members at Emory University and its Goizueta Business School say the storm exposed shortcomings in the U.S. economic structure, its supply chain, business leadership and government�not only to Americans but to an international audience. They also warn that recovery from the disaster will take longer than many people expect.

Is American Policy Curbing Innovation?

Wed, 13 Jul 2005 14:50:57 EST

Richard Florida�s current book, The Flight of the Creative Class: The New Global Competition for Talent, builds upon his previous titles exploring the same territory�the status of a select group of workers he deems as the lifeblood of American society. This time, however, Florida takes aim at U.S. policy and how the current administration�s post-9/11 moves are discouraging thought-leaders from other countries from coming to the U.S. Left unchecked, he contends, this will result in a brain drain that will hurt the economy.