To address the existential threat of climate change, the international community must come together and rewrite the rules. In a new working paper, Roosevelt Fellow Todd Tucker argues that a global Green New Deal—in tandem with a domestic Green New Deal—can both remake an international trade infrastructure in crisis and decarbonize the global economy in

In a new working paper, Roosevelt Fellow Brishen Rogers makes the case that automation is not a major threat to workers today, and that it will not likely be a major threat in the near future. However, he contends that existing labor laws allow companies to use new technology—specifically information technology—in ways that give them outsized

The mainstream economic theory that guides corporations in the US only works if markets are perfectly efficient. This flawed theory has led to corporate decision-making that centers shareholders above all else, including other stakeholders (e.g., workers), long-term business growth, and economic health. This shareholder-first ideology is referred to as “shareholder primacy,” which does not reflect

In a working paper, Roosevelt Senior Economist and Policy Counsel Lenore Palladino investigates whether stock buybacks occur more frequently, independent of other factors, when corporate insiders are selling their own personal shareholdings. In her empirical analysis of the relationship between insider sales and stock buybacks, Palladino finds that a 10 percent increase in insider sales

For nearly half of a century, America’s public corporations have been driven by a shareholder primacy approach to corporate governance, increasingly prioritizing shareholder payments over other, more productive uses of corporate resources. Over the same period, employee bargaining power has decreased and wages for nonexecutive workers have remained flat across sectors. In Ending Shareholder Primacy in Corporate Governance,

In The Unsound Theory Behind the Consumer (and Total) Welfare Goal in Antitrust, a working paper for the Roosevelt Institute, University of Utah economics professor and antitrust scholar Mark Glick examines why the New Brandeisians are correct to reject the consumer welfare (CW) standard. Delving deeper—and pushing antitrust scholarship forward—he argues that the CW or total welfare standard was

There is much to be concerned about in America today: a growing political and economic divide, slowing growth, decreasing life expectancy, an epidemic of diseases of despair. The unhappiness that is apparent has taken an ugly turn, with an increase in protectionism and nativism. Trump’s diagnosis, which blames outsiders, is wrong, as are the prescriptions

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“Markets, States, and Institutions” highlights how our thinking about this subject has changed over the past third of a century; and to provide an overarching framework into which these changes can be placed—a framework that both helps explain why the approaches taken in the past have been less successful than was hoped in promoting development,

It is apparent that not only are there high levels of inequalities within most countries, but those inequalities have been growing over time. They are much larger today than they were a third of a century ago. It is also clear that there is far from equal opportunity: the life prospects of children of rich and

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Designing the twenty-first-century welfare state is part of a broader debate redefining the role of the market, the state, and “civil society”—non-state forms of collective action. One of the tenets of the Reagan-Thatcher revolution was questioning the welfare state. Some worried that the financial burdens of the welfare state would drag down growth. Some worried