PERI
The Relationship Between Inequality and Human Rights

What is the relationship between human rights and inequalities in income and wealth? Radhika Balakrishnan, James Heintz and Diane Elson argue that different approaches to understanding inequality have distinct implications for how we think about issues of well-being and social justice. The human rights framework offers an approach that stands in marked contrast to neoclassical economic theory. This paper looks at how income and wealth inequality affects realized outcomes with regard to the enjoyment of specific rights and how the distribution of resources affects political dynamics and power relations within which specific rights are realized.

> Read “What Does Inequality Have to Do with Human Rights?”

Global and National Green Growth Studies

In Global Green Growth, Robert Pollin, Heidi Garrett-Peltier, James Heintz, and Shouvik Chakraborty develop a framework through which the global economy can advance a successful climate stabilization agenda through investments in energy efficiency and clean renewable energies. They also show how this agenda will expand job opportunities for countries at all levels of development. Pollin and Chakraborty develop this approach further for the case of India in “An Egalitarian Green Growth Program for India.” Pollin, Garrett-Peltier and Chakraborty also explore this approach for Spain, as one element of a broader anti-austerity agenda, in “An Egalitarian Clean Energy Investment Program for Spain.” The ideas and research methods in these studies are also explored further in interviews with the authors.

> Read Global Green Growth

> Read "An Egalitarian Green Growth Program for India"

> Read "An Egalitarian Clean Energy Investment Program for Spain"

> Read a Q&A with Heidi Garrett-Peltier and Shouvik Chakraborty about the findings

> Watch an interview with Robert Pollin from the Podemos office in Madrid about the current state of economic science, and advancing anti-austerity and green-macro programs

> Watch the press conference at which Robert Pollin outlines the program for Spain (in Spanish)

PERI Welcomes the First AAAWE-PERI Fellow

PERI is pleased to welcome Elizabeth Luanga Nanziri as the first Association for the Advancement of African Women Economists-PERI Fellow. The Fellowship is designed to enhance African women economists’ capacity to produce high quality research, and increase to the visibility of their work through their affiliation with PERI.

> Read more about Elizabeth Luanga Nanziri

Dodd-Frank at Five: How Much Has Changed?

July 21, 2015 marked the fifth anniversary of the passage of Dodd-Frank, the main legislative response to the dangerous financial practices that led to the financial crisis of 2007-2008. In this report, Gerald Epstein and Juan Montecino survey the trends of the US financial system prior to and since the passage of Dodd-Frank. They show that the financial system has become more resilient in several ways, but that many trends have not changed—and there are new, worrying trends in financial markets and practices, in particular the expansion of the “shadow banking” system.

> Read the report, "Banking from Financial Crisis to Dodd-Frank: Five Years On, How Much Has Changed?"

PERI Welcomes Timothy A. Wise as DPE Program Research Fellow

Timothy A. Wise has joined PERI as a Senior Research Fellow in the Program on Development, Peacebuilding and the Environment. Wise, who also serves as Policy Research Director at the Global Development and Environment Institute (GDAE) at Tufts University, conducts research on agricultural development, trade, and the right to food. He is currently completing a book on food security and climate change in the wake of the global food price crisis with support from an Open Society Fellowship.

Multiple Mandates for Central Banks

In this working paper published by the International Labour Office (ILO), PERI Co-Director Gerald Epstein argues that central banks should take an active role in helping developing countries create jobs, invest in productive activities, and meet the challenges of climate change. "It took the great financial crisis of 2007-2008 to shake up the 'Washington Consensus' and raise significant questions about [a single-minded focus on commodity inflation] as a central banking norm.... It is timely to assess the arguments for broader (or multiple) mandates for central banks, review old approaches and assess new ones for implementing development central banking."

> Read “Development Central Banking: A Review of Issues and Experiences