In this new Working Paper, Marina S. Vornovytskyy and James K. Boyce use data from the Russian Statistical Agency to explore the relationship between air pollution and income in Russia. They find that regions with lower incomes relative  to neighboring regions have more uncontrolled air pollution, and they are able to attribute those differences primarily to the locations of polluting facilities, indicating the presence of “pollution shifting.” In addition, greater income inequality within a particular region also correlates with higher levels of pollutions, indicating that not only income levels themselves, but equity levels as well, have environmental justice repercussions.

>> Download “Economic Inequality and Environmental Quality: Evidence of Pollution Shifting in Russia”

In his latest “Economics Prospects” column for New Labor Forum, Robert Pollin addresses a question asked of him at an event in Detroit last spring: “Why doesn’t the U.S. have an industrial policy?” Pollin points out that the federal government does, indeed, run industrial policy programs—through the Pentagon. He goes on to describe how these dramatically successful programs might be refined and refocused outside of the military context to support industrial growth that would simultaneously promote our employment and environmental goals.

>> Download “Industrial Policy and the Revival of U.S. Manufacturing”
>> Read more Economic Prospects columns
>> Go to the New Labor Forum website

There is growing interest in new revenue sources to cover the costs of a major jobs program or long-term deficit reduction. In this new joint working paper from PERI and the Center for Economic and Policy Research, Dean Baker, Robert Pollin, Travis McArthur and Matt Sherman present updated calculations on the potential of a financial transactions tax to provide this revenue. The authors analyze the potential revenue generated by financial transactions taxes across a range of financial assets, and under a range of scenarios They find that potential revenue from a financial transactions tax would come to between $177 and $354 billion annually. In addition to raising this significant revenue, a transactions tax has the potential benefit of reducing the volume of speculation in a seriously bloated financial sector.

>> Download “The Potential Revenue from Financial Transactions Taxes”

The U.S. economy faces enormous questions and challenges as it attempts to recover from the collapse of 2008-09. Some of the most pressing questions involve longer-term, structural challenges: Can we establish a growth engine driven by something other than financial bubbles? Can we reestablish a healthy manufacturing sector? Can we accomplish these tasks while also rebuilding the economy on a foundation of clean energy?

In this joint working paper, Robert Pollin and Dean Baker of the Center for Economic and Policy Research sketch out public investment and industrial policies which support the revival of the U.S manufacturing sector. They explore the multiple benefits of investments in public transportation, which can simultaneously create an expanding market for U.S. automakers who are willing to convert part of their production lines to manufacturing buses and trains; lower the costs of transportation for lower-income households; and  advance the construction of a clean-energy economy in the U.S.

>> Download “Public Investment, Industrial Policy and U.S. Economic Renewal”