Grab-Bag

Here are a bunch of interesting links I have not had time to fully digest.

“Countdown to a Meltdown” an article from 2005 in which James Fallows of The Atlantic lays out how a third party candidate will win the presidency in 2016 after 8 years of ineffective Democratic presidency.  Interesting use of creativity and focusing on larger political and economic trends.

“Revenge of the Ratings Agencies” a NYT op-ed frames the Stnadard & Por’s downgrade as a political act not in terms of a D-R blame game, but as a threatened industry playing hardball.

The law called for exposing rating agencies to civil liability in securities lawsuits if their ratings were inaccurate. It also challenged the oligopoly’s dominance by calling for the Securities and Exchange Commission to explore the feasibility of having an independent organization select rating agencies for asset-backed securities, instead of having the bond issuers select and pay the agencies, as they now do.

“Serving Shareholders and Democracy” is a NYT editorial about how the SEC should force public firms to disclose to shareholders how and how much money they spend on politics.

Last week, a group of legal scholars sent a petition to the S.E.C. urging it to craft rules requiring companies to disclose to shareholders how they use corporate resources for political activities.

Here, the NYT reports on what seems like a very common-sense idea: have natural gas drillers post funds to a special emergency response fund to cover clean up in case of inevitable accidents.  I man need this for class.

Finally, London and riots.  I saw a link somewhere mentioning this academic paper by Ponticelli and Voth, from a research center (the CEPR) that looks at Europe 1919-2009 and finds that in general, cuts in government expenditures lead to more unrest like riots, strikes, and assassinations.  A free copy can be found here.  While this may seem self-evident, it is useful to have it confirmed empirically.  The results also suggest it is not due to cultural factors, demographics, or lots of “bad people.”  What I also noted is that more media coverage did not seem to matter.

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Filed under economics, Political Economy, Politics, Power, Activism, Protest

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