For more than a quarter century, IPS has been a leader in strengthening citizen responses to the global economy through research, writing, film, education, and coalition building. The project has produced dozens of books, articles, films, and educational materials.
- In the Media
- Executive Compensation
- Financial Speculation Tax
- Trade & Finance
Executive Excess 2013: Bailed Out, Booted, and Busted
This 20th anniversary Executive Excess report examines the "performance" of the 241 corporate chief executives who have ranked among America’s 25 highest-paid CEOs in one or more of the past 20 years.
The lavishly compensated CEOs we spotlight here should be exemplars of value-added performance. After all, sky-high CEO pay purportedly reflects the superior value that elite chief executives add to their enterprises and the broader U.S. economy.
But our analysis reveals widespread poor performance within America’s elite CEO circles. Nearly 40 percent of the CEOs on these highest-paid lists were eventually "bailed out, booted, or busted."
IPS Director Speaks Out at Pacific Rim's Vancouver HQ
June 3, 2012 - With about 200 activists from several countries, John Cavanagh denounced the firm for suing the government of El Salvador in retaliation for the denial of a mining permit. By Sarah Anderson
World Bank Tribunal Ruling in El Salvador Mining Case Undermines Democracy
June 2, 2012 - IPS Director John Cavanagh will participate in a protest outside the Vancouver headquarters of Pacific Rim today.
Top Democrats Push Obama on Capital Controls
May 29, 2012 - Representatives Barney Frank and Sander Levin say that cannot support U.S. trade agreements unless the administration does more to protect governments from investor lawsuits. By Sarah Anderson
Verizon Shortchanges the Facts
May 29, 2012 - The telecommunications giant twisted the truth when it said it wanted to set the record straight in the Record-Journal By Chuck Collins and Scott Klinger
The Nonsense Zone
May 22, 2012 - IPS is grateful to Bill O'Reilly for this opportunity to showcase our proud history of public scholarship on inequality, peace, justice, and the environment. By John Cavanagh
Nurses Push Tax on Trades to Help Sick
May 15, 2012 - Nurses vs. high-speed traders. Now there's a match-up you probably never thought you'd see playing out in the streets of Chicago. By Sarah Anderson
- Released April 22, 2014
By Sarah Anderson and Betsy Wood
New report shows that while restaurant executives are fighting living wages for their workers, they're also benefiting from tax subsidies for their own pay.
- Released March 12, 2014
By Sarah Anderson
The New York financial industry's bonus pool exceeded the annual earnings of the more than 1 million Americans who work full-time at the federal minimum wage.
- Released December 2, 2013
By Sarah Anderson
A new report reveals that fast food companies are pocketing massive taxpayer subsidies for CEO pay while working to keep low-level workers' wages so low that many must rely on public assistance.
- Published January 28, 2009
- ISBN 978-0-7391-3167-1
By Chester Hartman
Three decades ago, conservative ideologues at The Heritage Foundation produced a primer on the Reagan Revolution entitled Mandate for Leadership, which offered an overarching philosophy against the role of government and in favor of markets.
Today, IPS has taken on the same task for the Obama administration. Mandate for Change is aimed at strengthening the new administration at a time when the need for progressive policies — and appointing progressive people to lead such efforts—is most urgent.
- Published September 16, 2008
- ISBN 978-1-59451-523-1
By Robin Broad and John Cavanagh
Rejecting the “flat worldism” of the globalists as well as the peaks and valleys of trade and aid policies over the years, Robin Broad and John Cavanagh guide us through the raging debate over the best route to development for the poorer nations of Africa, Asia, and Latin America.
This book takes readers on a journey through the rise and fall of the one-size-fits-all model of development that richer nations began imposing on poorer ones three decades ago. That model — called the “Washington Consensus” by its backers and “neoliberalism” or “market fundamentalism” by its critics — placed enormous power in markets to solve the problems of the poor.
The authors have stood at the epicenter of these debates from their perches in the United Nations, the U.S. government, academia, and civil society. They guide us back in time to understand why the Washington Consensus dominated for so long, and how it devastated workers, the environment, and the poor. At the same time, they chart the rise of an “alter-globalization” movement of those adversely affected by market fundamentalism. Today, this movement is putting alternatives into action across the globe, and what constitutes development is being redefined.
- Published April 1, 2005
- ISBN 978-1-56584-956-3
By Sarah Anderson, John Cavanagh, Thea Lee
This fully updated and expanded second edition of The Field Guide to the Global Economy presents the latest facts to help make sense of the rapidly changing international economy. Illustrated throughout with charts, graphs, and cartoons, the book documents new trends, including the foreign “outsourcing” of U.S. service jobs, as well as the increasing influence of mega-firms like Wal-Mart and labor union–free China on workers around the globe.
Published in conjunction with the Institute for Policy Studies, an independent research institute based in Washington, D.C., this accessible guide explains how global institutions such as the World Bank, International Monetary Fund, World Trade Organization, and North American Free Trade Agreement affect communities, workers, the poor, and the environment. The book dispels the widely disseminated propaganda about current globalization policies and provides an update on the burgeoning movement that is challenging them, from Bolivian water warriors to U.S. student anti-sweatshop activists.
- December 3, 2012
The Huffington Post features report “A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts”Visit the publisher's website • See the report
An examination by the Institute for Policy Studies foundthat the 71 CEOs of public companies endorsing the campaign have set aside for themselves an average of $9 million in retirement funds from their corporations. That would pay each $110,000 a month for life after age 65.
These CEOs are careless, however, about their workers' retirements. Forty-one promise pensions to workers, but only two corporations have sufficient assets to meet those obligations. The remaining 39 carry a combined pension deficit of $103 billion.
These CEOs, the very ones who've accumulated those massive deficits, are telling the federal government how to solve its budget problems. Right.
- December 2, 2012
The Liberty (TX) Vindicator features report “A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts”Visit the publisher's website • See the report
Beware of wealthy CEOs who are lecturing the rest of us about tightening our belts.
While America's CEOs are fretting about the government's so-called "fiscal cliff," millions of American workers face a financial disaster that gets much less media attention. There's a half-trillion-dollar deficit in the nation's worker retirement benefits.
- December 1, 2012
The Albany Tribune features article “A Pension Deficit Disorder”Visit the publisher's website • See the article
- December 1, 2012
The Examiner features report “A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts”Visit the publisher's website • See the report
A new report released last week by the Institute for Policy Studies examines CEOs of public companies who have endorsed the “Fix the Debt” campaign. The report, “Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts,” finds that these CEOs, while calling for ordinary Americans to take cuts in Social Security and Medicare, are sitting on an average of $9 million each in retirement funds. Maybe even more surprising, most are also running large deficits in their own employees’ pension funds.
“The Fix the Debt CEOs are trying to persuade policymakers and the public that cuts to Social Security and Medicare are necessary to avoid economic ruin,” said report co-author Sarah Anderson. “A better way to strengthen our economy would be to raise revenues through fair taxation of the wealthy and Wall Street, eliminating subsidies for polluters, and cutting military spending.”
- November 30, 2012
Common Dreams features report “The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks”Visit the publisher's website • See the report
Incredulous that Wall Street investment bankers and billionaire CEOs have descended on Washington in the midst of ongoing budget talks to tell Americans that they should "lower their expectations" when it comes to the security of their retirement and future health care, Vermont Senator Bernie Sanders took to the Senate floor Thursday to call out the audacity of corporate-minded millionaires and billionaires, calling them the new "face of class warfare" in the United States.
. . . as a recent report from the Institute for Policy Studies aimed to show, the 'Fix the Debt' campaign, which has raised $60 million to lobby for a debt deal that "would reduce corporate taxes and shift costs onto the poor and elderly," is really just a Trojan horse designed to use an invented debt crisis to achieve long-held agenda goals.
The CEOs involved in the group, including Blankfein, are trying to "pass themselves off as noble leaders who are willing to compromise in order the save America from financial ruin,” explain co-authors of the report Scott Klinger and Sarah Anderson. But the reality is that these CEOs are "leveraging the 'Fiscal Cliff'" in order to push age old attempts to avoid paying taxes at the expense of those in need, they say.
. . . “Think about the arrogance of these guys on Wall Street who were bailed out by the middle class of this country when their greed and recklessness nearly destroyed the financial system and now they come to Capitol Hill to lecture Congress and the American people about the need to cut programs for working families,” [Sanders] said.
- November 29, 2012
Thom Hartmann Show features report “A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts”Visit the publisher's website • See the report
[A]s the Institute for Policy Studies discovered, there's good reason why these CEOs want to target social safety nets like Social Security...it's because they don't need them. They're all sitting on massive retirement assets, averaging over $9 million each.
- November 28, 2012
Blue Table Talk features article “A Pension Deficit Disorder”Visit the publisher's website • See the article
- November 28, 2012
The Nation features report “A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts”Visit the publisher's website • See the report
That’s not exactly “shared sacrifice.” A report from the Institute for Policy Studies notes that the 63 CEOs behind “Fix the Debt” would reap $134 billion in tax windfalls for their companies just from a territorial tax system alone.
- November 28, 2012
New Jersey Newsroom features report “The CEO Campaign to ‘Fix’ the Debt: A Trojan Horse for Massive Corporate Tax Breaks”Visit the publisher's website • See the report
[A]ccording to the Institute for Policy Studies, their ideas of change also include massive tax breaks for themselves and their corporations. They are lobbying for a “territorial tax system” which means that they would not have to pay federal taxes on any money they earned overseas and brought back into the U.S. This would amount to $134 billion bonus for these companies.
- November 28, 2012
New Jersey NewsroomVisit the publisher's website
The CEO Fiscal Leadership Council is made up of 63 companies, including heavy weights such as GE, Boeing, Honeywell and Goldman Sachs. In particular, they advocate changes that would “reform the tax code and cut low-priority spending,” and "keep debt under control over the long-term by focusing on the long-term growth of entitlement programs."
However, according to the Institute for Policy Studies, their ideas of change also include massive tax breaks for themselves and their corporations. . . .
The companies want the government to cut spending – but here the message is decidedly mixed. While advocating cuts in entitlement spending, Boeing has paid its lobbyists $12 million since last January to fight proposed cuts to defense and aerospace spending.
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Project StaffSarah Anderson
IPS DirectorManuel Perez-Rocha
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Associate FellowsLael Parish
Executive Excess 2011: The Massive CEO Rewards for Tax Dodging
In fact, corporate tax dodging has gone so out of control that 25 major U.S. corporations last year paid their chief executives more than they paid Uncle Sam in federal income taxes.
This year's Institute for Policy Studies Executive Excess report, our 18th annual, explores the intersection between CEO pay and aggressive corporate tax dodging.
Executive Excess 2010: CEO Pay and the Great Recession
September 1 - The 17th annual executive compensation survey looks at how CEOs laid off thousands while raking in millions.
Executive Excess 2009: America's Bailout Barons
September 2 - The 16th annual Institute for Policy Studies' "Executive Excess" report exposes this year’s windfalls for top financial bailout recipients.
Executive Excess 2008: How Average Taxpayers Subsidize Runaway Pay
August 25 - This 15th annual report calculates the annual cost of tax loopholes that encourage excessive executive pay.
Executive Excess 2007
August 29 - IPS' 14th annual CEO compensation survey on the staggering social cost of U.S. business leadership.
Executive Excess 2006
August 30 - Defense and oil executives cash in on conflict.
Executive Excess 2005
August 30 - Defense contractors get more bucks for the bang.
In many countries around the world, there is growing momentum behind proposals to place a very small tax on transactions of stock, currency, derivatives, and other financial assets. Such financial speculation taxes are one of the few available options that could generate the enormous financial resources required to pay for the continuing costs of the global financial and economic crisis, including reducing the high rate of job loss, and to achieve key development, health, education and climate change objectives in developing countries. Even at very low rates, such taxes could also discourage the type of short-term financial speculation that has little social value but poses high risks to the economy.
Conservative Candidate Supports Wall Street Speculation Tax
April 5, 2012 - The right-wing in France seeks popular support by getting behind a transactions tax on securities trades. By Sarah Anderson
Nurses Fight for a Dose of Tax Justice
February 23, 2012 - Before there was Occupy, thousands of nurses were already taking on Wall Street to demand a financial transaction tax. By Sarah Anderson
VIDEO: Why a Financial Transaction Tax?
December 4, 2011 - In an interview on The Real News, Sarah Anderson discusses how a tax on financial transactions could raise $150 billion a year in the US alone. By Sarah Anderson.
Europe Taking Lead on Speculations Tax
June 30, 2011 - Out of the ashes of the 2008 financial crisis, an idea that progressives have been kicking around for decades – a financial transactions tax (FTT) – took on new life. By Sarah Anderson.
U.S. Nurses Bring Global Call to Tax Speculators to Wall Street
June 22, 2011 · National Nurses United stands with activists across the globe to bring attention to the need for a financial speculation tax. By Sarah Anderson and Marlee Blasenheim.
Cut Wall Street Down to Size With a Financial Speculation Tax
June 9, 2011 · A financial speculation tax might not have stopped those greed-crazed fools, but at least Uncle Sam would've taken in about $1.1 billion on the deals. By Sarah Anderson, originally published in The Nation.
Nurses Join Call to "Tax Wall Street"
June 7, 2011 - A swarm of around a thousand nurses in scarlet scrubs descended on the U.S. Chamber of Commerce in downtown Washington to call for a new economic agenda.By Sarah Anderson.
Seven Innovative Mechanisms of Development Finance
April 18, 2011 - As governments look for new options for public revenue stream, this table by IPS Global Economy project director Sarah Anderson shows which options can be considered, their potential revenue, and their administrative and political feasibility.By Sarah Anderson.
Financial Transaction Taxes and the Global South
April 8, 2011 - This downloadable pdf fact sheet answers frequently asked questions about the implications for the developing world of taxing financial speculation. By Sarah Anderson.
Europe Takes the Lead in Drive to Tax Speculators
March 10, 2011 - There are still places in the world where folks from across the political spectrum can have a rational discussion about fair taxation. By Sarah Anderson.
Article / Declaration
U.S. Groups Join Global Call to Tax Speculators
February 16, 2011 - Over 30 national organizations signed a letter urging President Obama to take action at home and abroad to stop rampant financial speculation.
Article / Op-Ed
Taxing Financial Speculation, Raising Funds for Critical Needs
February 14, 2011 - Levying a tiny tax on financial transactions could help build a healthier and more stable future. By Paul R. Epstein and Janet Redman, published in The Huffington Post.
Report / Report
Taxing the Wall Street Casino
June 17, 2010 - In the United States and many countries around the world, there is growing momentum behind proposals to place a very small tax on trades of stock, currency, derivatives, and other financial assets. By Sarah Anderson, Chuck Collins, Scott Klinger, Janet Redman, Kevin Shih.
Media / Quote
The Growing Push to Impose a Transaction Tax - NYTimes.com
Jun 17, 2010 - The Institute for Policy Studies, a left-leaning think tank, issued a report on Thursday promoting the benefits of such a tax.
Video / Interview
May 17, 2010 - IPS video on global day of action on financial speculation taxes:
Wealth for the Common Good petition for a financial speculation tax
Article / Column
Fighting Finance from Below
November 22, 2010 - Since the crash of 2008, writes guest columnist Sarah Anderson, global justice activists have begun to make progress in reining in the excesses of the financial industry. By Sarah Anderson
Article / Commentary
Unpopular Sarkozy Gets it Right on Financial Transactions Taxes in the G-20
November 4, 2010 - The French President is standing tough in his push to increase taxes on the financial sector. By Sarah Anderson
Article / Declaration
G-20: Take Action on Financial Transaction Taxes
October 27, 2010 - International civil society organizations urge G-20 leaders to make progress on taxing financial speculation at summit in Seoul. By Sarah Anderson, et al
Article / Op-Ed
It's Time We Taxed Financial Gambling
June 21, 2010 - A tiny tax would make purely speculative investment less profitable and encourage long-term, patient investment. By Sarah Anderson
Article / Op-Ed
Proving That Tea Partiers' Anti-Tax Extremism Isn't Even Loved by All Conservatives
June 18, 2010 - Taxing speculation could take us a long way toward reining in Wall Street. By Sarah Anderson
Blog / Blog
Tax Wall Street to Pay for Jobs
June 17, 2010 - The Senate should be looking for ways to jumpstart the economy -- but not at the expense of those who suffered the most from the crisis. By Sarah Anderson and Kevin Shih
Article / Commentary
Reining in Wall Street: Round 1
May 27, 2010 - A May 17 rally in Washington, DC brought more than a thousand people into the streets, calling for a "financial speculation tax" as part of a broader financial reform agenda. By Sarah Anderson
Blog / Blog
Global Activists Coordinate Actions to Tax Speculators
May 20, 2010 - From Australia to Canada, activists are taking to the streets in cities around the world this week to hold the financial sector accountable for the costs of the global crisis. By Sarah Anderson
Article / Commentary
The Unfinished Business of Financial Reform
May 6, 2010 - Lawmakers will need to consider financial speculation taxes in the next round of the fight to rein in Wall Street. By Sarah Anderson
Trade Agreements and Financial Crisis
Many governments have used capital controls effectively to prevent or mitigate financial crises. However, U.S. trade and investment agreements still include sweeping restrictions on this policy tool. IPS has teamed up with the Global Development and Environment Institute at Tufts University to coordinate an economist statement urging the Obama administration to change course and allow governments to use capital controls, as part of a broader menu of policy options to protect their people from financial volatility.
For more on the links between trade and finance:
- Economist Statement on Capital Controls and Trade
- Rebuttal to corporate response to the IPS economist statement
- Network for Justice in Global Investment (a project of IPS and the Democracy Center in Cochabamba, Bolivia)
Crikey! Australia Shocks Corporate America on Trade
March 2, 2012 - U.S. corporate lobby groups bash Australia for refusing to give foreign investors powerful new rights in the Trans-Pacific trade deal. By Sarah Anderson, published in Common Dreams
More than 100 Economists Call for Trans-Pacific Trade Deal to Allow Capital Controls to Prevent Crises
February 28, 2012 - In advance of Trans-Pacific trade talks, over 100 economists are sending a letter today urging negotiators to promote global financial stability by allowing the use of capital controls. By Sarah Anderson and Manuel Perez-Rocha
Open Letter: Urging Capital Controls in the Trans-Pacific Partnership
February 28, 2012 - IPS economists join 100 colleagues across the world in advocating for governments' right to use a proven tool against financial volatility. By Sarah Anderson
How Obama is to the Right of Reagan on Trade
September 8, 2011 - I hate to break it to the Tea Partiers, but their presidential idol was less of a free-market hardliner in trade negotiations than Barack Obama. By Sarah Anderson.
Capital Controls and the Trans-Pacific Partnership
September 1, 2011 - The first trade agreement to be negotiated by the Obama administration should allow governments to control volatile capital flows. By Sarah Anderson.
Investment Rules in Trade Agreements
August 9, 2010 - The Top 10 Changes to Build a Pro-Labor, Pro-Community and Pro-Environment Trans-Pacific Partnership. By Sarah Anderson.
Memo to U.S.: Only Fools Rush In
March 22, 2010 - If negotiators aren't careful, a U.S.-China investment treaty could prove as explosive as currency manipulation or climate change. By Sarah Anderson.
U.S.-China Bilateral Investment Treaty Negotiations
March 21, 2010 - Expedited talks with China may shine a brighter spotlight on these controversial agreements. By Sarah Anderson.
Report of the Advisory Committee on International Economic Policy Regarding the Model Bilateral Investment Treaty
October 1, 2009 - IPS participated in this Obama administration review process. By Sarah Anderson, et al
Comments on the U.S. Model Bilateral Investment Treaty
July 17, 2009 - A report presented to the United States Department of State and the Office of the U.S. Trade Representative. By Sarah Anderson
Policy Handcuffs in the Financial Crisis
February 9, 2009 - This report finds that bans on capital controls are outdated and a hindrance to developing nations. By Sarah Anderson