Adopting a simple education reform to restore civil discourse and transform American societyIn this era of extreme political polarization, it's tempting to believe nothing can be done to heal a nation that is so obviously divided and led by dysfunctional politicians.But there is a relatively simple and powerful way to begin the healing, and at the same time prepare the next generations of leaders for the rigorous demands of a constantly changing economy and s...

Economists do much more than explain how economies do or should work. In many cases, their ideas have helped new and established firms launch new businesses or develop different ways of making money. In other cases, their ideas have shaped government policies, which in turn, have either created opportunities for new business ideas, or have had powerful impacts on the landscape on which firms compete. Some of these ideas have been so well noted that their originators have received one of th...

The twenty-first-century telecommunications landscape is radically different from the one that prevailed as recently as the last decade of the twentieth century. Robert Litan and Hal Singer argue that given the speed of innovation in this sector, the Federal Communications Commission's outdated policies and rules are inhibiting investment in the telecom industry, specifically in fast broadband networks. This pithy handbook presents the kind of fundamental rethinking needed to bring communi...

In the wake of the Great Recession and America's listless recovery from it, economists, policymakers, and media pundits have argued at length about what has gone wrong with the American capitalist system. Even so, few constructive remedies have emerged. This welcome book cuts through the chatter and offers a detailed, nonideological, and practical blueprint to restore the vigor of the American economy.Better Capitalism extends and significantly expands on the insights of the author...

The information age technology revolution promises enormous benefits to the U.S. and global economies. Yet if those benefits are to be fully realized, policymakers in the U.S. and abroad must rethink some fundamental premises about how economic activity has traditionally been governed. Should we continue to regulate industries the way we have in the past? Does the digital age require a new approach to antitrust enforcement? To best facilitate global electronic commerce, what changes are ne...

The right to a jury trial is a fundamental feature of the American justice system. In recent years, however, aspects of the civil jury system have increasingly come under attack. Many question the ability of lay jurors to decide complex scientific and technical questions that often arise in civil suits. Others debate the high and rising costs of litigation, the staggering delay in resolving disputes, and the quality of justice. Federal and state courts, crowded with growing numbers of crim...

For nearly two decades the U.S. economy has been plagued by two disturbing economic trends: the slowdown in the growth rates of productivity and average real wages and the increase in wage and income inequality. The federal budget is in chronic deficit. Imports have far exceeded exports for more than a decade. American competitiveness has been a source of concern for even longer. Many Americans worry that foreigners are buying up U.S. companies, that the economy is losing its manufacturing...

Global Backlash is the first book to move beyond the monolithic portrayal of the globalization protests that have escalated since Seattle and are not likely to abate soon. With trenchant analysis and dozens of primary documents from a variety of popular and uncommon sources, Robin Broad explores proposals and initiatives coming from the backlash to answer the question, 'But what do they want?' A range of sophisticated propositions and a vibrant debate among segments of the backlash emerge....

In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization.A volume of Brookings' Integrating National Economies Series

American Supporters of free trade are on the defensive. Record U.S. trade deficits are fueling demands from industry, Congress, and the public for tariffs, import quotas, and other protectionist measures that could reverse America’s long-standing commitment to open markets and sacrifice much of the economic progress experienced in recent years. In Saving Free Trade: A Pragmatic Approach, Robert Z. Lawrence and Robert E. Litan analyze both the allure of protectionism and the problems associ...

As recently as thirty years ago, Americans lived in a financial world that today seems distant. Investment and borrowing choices were meager: virtually all transactions were conducted in cash or by check. The financial services industry was heavily regulated, as an outgrowth of the Depression, while an elaborate safety net was constructed to prevent a repeat of that dismal episode in American history. Today, consumers and businesses have a dizzying array of choices about where to invest an...

International accounting standards tend to converge, as do auditing, enforcement and corporate governance, whereas trading of equity shares remains essentially national. The book provides a thorough analysis of what information investors really need, how financial accounting systems developed and their current requirements in major commercial countries, and examines current issues, particularly the benefits and costs a single or multiple accounting standards, the bases for accounting stand...