Found 574 article(s) for author 'Regulation'

Donald Trump’s 3% growth plan is only for the 1%

Donald Trump’s 3% growth plan is only for the 1%. Kenneth Rogoff, September 11, 2017, Opinion, “Donald Trump has boasted that his policies will produce sustained 3%-4% growth for many years to come. His prediction flies in the face of the judgment of many professional forecasters, including on Wall Street and at the Federal Reserve, who expect that the US will be lucky to achieve even 2% growth.Link

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Ethics and the Foundation of Global Justice

Ethics and the Foundation of Global Justice. Amartya Sen, September 8, 2017, Paper, “Reverend Dr. Martin Luther King, Jr., wrote in his Letter from Birmingham Jail: “Injustice anywhere is a threat to justice everywhere.” That was in April 1963, more than a half-century ago. He had been jailed for his agitation to end injustice against non-white people in his own country, and he would be killed soon after by an assassin who hated him and his vision.Link

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Strengthening and Streamlining Bank Capital Regulation

Strengthening and Streamlining Bank Capital Regulation. Robin Greenwood, Samuel Hanson, Jeremy Stein, Adi Sunderam, August 2017, Paper, “We propose three core principles that should inform the design of bank capital regulation. First, wherever possible, multiple constraints on the minimum level of equity capital should be consolidated into a single constraint. This helps to avoid a distortionary situation where different constraints bind for different banks performing the same activity. Second, while a regulatory framework that relies primarily on minimum capital ratios is appropriate for normal times, such a framework is inadequate in the wake of a large negative shock to the system. Following an adverse shock, it becomes critical to emphasize dynamic resilience, which involves forcing banks to actively recapitalize—i.e. regulation needs to focus on getting banks to raise new dollars of equity capital, rather than just maintaining their capital ratios.Link

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Business Responsibilities for Human Rights

Business Responsibilities for Human Rights: A Commentary on Arnold. Nien-he Hsieh, 2017, Paper, “Human rights have come to play a prominent role in debates about the responsibilities of business. In the business ethics literature, there are two approaches to the question of whether businesses have human rights obligations. The ‘moral’ approach conceives of human rights as antecedently existing basic moral rights. The ‘institutional’ approach starts with contemporary human rights practice in which human rights refer to rights enumerated in the Universal Declaration of Human Rights and subsequent international documents, and in which states are the primary duty bearers of human rights. This commentary argues that the implications of adopting one or the other approach are much greater than most scholars recognize, and that we have reason to reject the moral approach and to adopt the institutional approach instead. The commentary highlights key questions that need to be addressed if human rights are to play a central role in framing the responsibilities of business.Link

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Deregulating Is Not So Easy

Deregulating Is Not So Easy. Cass Sunstein, July 25, 2017, Opinion, “In what sounded like a major announcement, the Trump administration last week highlighted numbers showing it was making big strides in controlling regulations. It is true that the pace of rulemaking has slowed dramatically. Thus far, the Office of Information and Regulatory Affairs has approved just 41 regulations, meaning that we might see fewer than 100 in all of 2017. That would be less than one-fifth of the average under the most recent Republican president, George W. Bush.” Link

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The Trump administration—not the Fed—has it right on bank regulation

The Trump administration—not the Fed—has it right on bank regulation. Hal Scott, July 3, 2017, Opinion, “All 34 of the largest banks in the United States, representing over 75 percent of U.S. banking assets, recently passed the Federal Reserve Board’s annual stress tests for the first time since the tests were created in 2011. However, celebration is very premature.Link

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