| November 2005
Biotechnology | Bribery &
Corruption | Labor & Employment | Trade
| WTO
Industries: Banking
B1 - The Promise of Biotechnology
eJournal USA: Economic Perspectives , October 2005, v10,
#4, 48p
"Biotechnology is the most recent step in humankind's long
endeavor to use nature's own processes to advance the human condition.
The word itself joins knowledge to practice, science to technology.
We might have used it to describe the emergence of agriculture,
or of pharmacology, or even the training of athletes—activities
that have grown from ancient roots into exotic and very contemporary
forms. In each case, accumulating knowledge of nature has suggested
ways of making life safer, healthier, and more productive. While
biotechnology is a relatively new word with narrower connotations,
it is good to keep in mind its link to the past, especially when
speaking of its benefits for cultures separated from the traditions
of modern science." This issue of Economic Perspectives explores
some of the most promising applications of biotechnology, from
microorganisms engineered to produce hydrogen gas from organic
waste and bacteria engineered to break down environmental pollutants,
to crops that add vitamins to what we eat and novel drugs for
treating human diseases such as Alzheimer's and diabetes.
Contributing authors include researchers and government officials. Fulltext
B2 - Eight Questions about Corruption
Svensson, Jakob
Journal of Economic Perspectives, Summer 2005, v19, #3, pp19-42
Svensson provides an overview of public corruption in developing
countries. He draws upon several studies in order to explain which
countries are affected the most and why as well as which measures
can be taken to reduce corruption in the public sector. By comparing
research projects conducted over the past 35 years, he alludes
to the consequences of public corruption within the economies
of highly affected countries and explains why there are very few
successful attempts to fight corruption. The author calls for
“new tools to enhance accountability” as traditional approaches
have failed. He points to the different economic effects of similarly
high corruption in different countries (for example, China with
high corruption and high economic growth and stresses the need
for more research on specific forms of corruption and how it actually
occurs in specific contexts. Jakob Svensson is a research
fellow at the Institute for International Economic Studies in
Stockholm. He is also a Senior Economist at the World Bank
(Development Research Group ). Fulltext
B3 - Ten Myths About Governance and Corruption
Kaufmann, Daniel
Finance & Development, September 2005, v42 ,#3 ,online
edition
Are good governance and reducing corruption paramount to development
or are these issues simply overrated? How can good governance
and reducing corruption be defined and measured? How can they
be improved? Kaufmann argues that besides sound economic, trade
and sectoral policies, good governance is crucial to economic
development. He calls for new approaches to improve governance
and the fight against corruption and advocates increases in transparency
not only in developing countries but also in the donor countries
and international financial institutions. Daniel Kaufmann is Director
of Global Programs at the World Bank Institute. Fulltext
B4 - Hyperjobs
Richard W Samson
The Futurist, November/December 2005, v39, #6, pp41-47
"As traditional jobs disappear, people will need to develop
their non-automatable skills to remain marketable and productive
in the "Hyper-Human Economy." In many cases, workers
won't go after existing jobs, but rather create them by identifying
problems to be solved with their hyper-human skills, such as discovery,
creativity, and influence." In this article,workplace experts
speculate on tomorrow's job titles and discusses changes in the
form and nature of work. Richard W. Samson is director of
the EraNova Institute, Mountain Lakes, New Jersey. Fulltext Trade
B5 - Trade and Consequences
Irving Mintzer, Amber Leonard
World Watch, November/December 2005, v18, #6; p23-, 5p
" Mintzer and Leonard discuss the economic, social, technological,
environmental, and national security challenges arising from the
flow of marine freight at US ports. It is not news that US stores
sell many imported products. The US has always been a trading
nation and its role in international trade has grown steadily
during the last several decades. However, it has been thirty years
since the US exported more than it imported." Irving
Mintzer is Executive Editor and Amber Leonard is Managing Editor
of Global Change Magazine. Fulltext
B6 - A House Divided
Bartholomew, Doug
Industry Week, November 2005, v254, #11, pp34-41
"The U.S. manufacturing landscape is being ripped apart by
a series of attacks on its traditional strongholds that has left
few industries intact. Already tens of thousands of small and
midsize manufacturers have gone under. Those that remain are struggling.
Whole industries such as furniture, shoes, textiles and many computer
components - once hallmarks of American ingenuity, productivity
and competitiveness - have virtually disappeared, the victims
of the rapid emergence of easily accessible low-cost labor overseas.
While all manufacturers face the same lopsided trade policies,
surging prices for raw materials and relentless competition from
China and other low-cost markets, small manufacturers get squeezed
the hardest. these days large manufacturers benefit from the very
policies and practices that harm smaller companies. They tend
to have the financial padding to withstand price increases while
their market share and assets enable them to partner with contract
manufacturers and overseas competitors to leverage the advantages
that these companies have over U.S.-based companies. This phenomenon
has divided U.S.-based manufacturers in an unprecedented way." Fulltext
B7 - In Agricultural Trade Talks, First Do No Harm
Polaski, Sandra
Issues in Science and Technology, Fall 2005, v22, #1, pp27-31
"Trade negotiators at the World Trade Organization (WTO)
are struggling to meet a self-imposed deadline of December 2005
to agree on the broad outlines of new trade rules that would cover
global commerce in agricultural products, manufactured goods,
and a wide array of services. Negotiations in each of these sectors
pose tough political and economic choices for the 148 countries
involved, but the key bottleneck is agriculture. Developing countries
threaten to block progress on trade liberalization for manufactured
goods and services unless their fears and interests in the agricultural
sector are addressed-and with good reason. They are home to the
almost 3 billion people who live on less than $2 a day, and most
of the impoverished survive on small-scale farming." Sandra
Polaski is director of the Trade, Equity and Development Project
at the Carnegie Endowment in Washington, DC. Fulltext
B8 - The Transformation of World Trade
Pauwelyn, Joost
Michigan Law Review, October 2005, v104, #1, p1-, 6p
"Conventional wisdom holds that the world trade system evolved
from a power-based to a rules-based regime. In a steady, unidirectional
process of legalization, the argument goes, trade law has gradually
replaced trade politics. This Article contests the traditional
view of the evolution of the world trade system. Rather than a
unidirectional process of legalization focused exclusively on
the system's normative structure, Part I of the Article, "The
Explosion of the GATT Club," recounts the transformation
from GATT to WTO as a bidirectional interaction between law and
politics; in particular, between the system's legal-normative
structure and its political, decisionmaking branch. It is claimed
that this law-and-politics narrative, as opposed to the conventional
from-politics-to-law story, better explains the evolution of the
world trade system. It better explains, in particular, how countries
could ever agree to decisionmaking by simple majority in the original
GATT, what reassured them to surrender their veto right in the
WTO dispute process, and why today WTO members so vehemently defend
the consensus rule for political decisions." Joost Pauwelyn,
Associate Professor of Law, Duke University; formerly Legal Officer
with the WTO Secretariat (1996-2002). Fulltext
B9 - International Trade Statistics 2005
World Trade Organization, October 27, 2005, online version.
The WTO annual publication International Trade Statistics provides
detailed information on global trade flows by region and product
in 2004. According to World Trade Organization economists, “lower
economic output, brought on in part by the sharp rise in oil prices,
will slow world trade growth in 2005.” World merchandise exports
are expected to grow by 6.5 per cent in 2005, markedly less than
the 9 per cent growth recorded in 2004. Among other specific observations:
oil exporting regions increased their merchandise exports faster
than the global average while North America and Europe remained
below the global average. Also, the emergence of China as a major
import and export market for goods and services continued unabated
in 2004. Fulltext
Industries:
Banking
B10 - Top
Ten E-Banks
Bertulucci, Jeff
Kiplinger's Personal Finance, November 2005, v59, #11, pp98-102
This consumer oriented article features the top online banking
providers in the U.S electronic banks in the U.S. and discusses
advantages and disadvantages of online banking in the United States
. It also covers safety issues. Fulltext
B11 - Innovations,
Incentives, and Regulation: Forces Shaping the Payments Environment
Chakravorti, Sujit, Jankowski, Carrie
Chicago Fed Letter, September 2005, Special Issue, #218A,
4p
“The migration to more efficient payment mechanisms is affected
by innovations, incentives, and regulation. While advances in
technology have yielded numerous payment method alternatives,
many have not been widely adopted. A recent Chicago Fed conference
explored why certain payment innovations have been more successful
than others.” Fulltext
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