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  • Released February 26, 2009

Ploughshares into Swords
By John Feffer
Editor's Note: This essay is a condensed version of a paper originally commissioned by the Korea Economic Institute (KEI) for its Academic Paper Series. South Korea is currently engaged in a large-scale, expensive modernization of its military that aims to provide the country with a more robust and self-sufficient defense. The timing of this considerable increase in military spending might seem, at first glance, rather odd. Korean economic growth has been relatively anemic in the past few years. Meanwhile, the conventional military power of its chief adversary, North Korea, has steadily declined and, until recently, South Korean leaders were committed to expanding inter-Korean cooperation. In another irony, the current Lee Myung-bak administration has simultaneously pushed a much harder line on North Korea and reduced the level of spending projected by the previous Roh Moo-hyun government.

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  • Released February 25, 2009

Paying for a Strong Economy
By John Cavanagh, Chuck Collins, Alison Goldberg, Sam Pizzigati

To address our nation's economic crisis and maintain our nation's fiscal health, we desperately need new sources of federal revenue. Without additional federal financial resources, we as a nation will either have to shortchange long-overdue investments in infrastructure, health, energy, and economic opportunity or leave an unsustainable debt to generations ahead. The Institute for Policy Studies has identified a package of practical and politically viable policies that could raise the revenues we need.


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  • Released February 13, 2009

Executive Pay and the Stimulus Bill
By Sarah Anderson and Sam Pizzigati

This memo critiques the executive pay provisions in the stimulus bill passed by Congress on February 13. It includes a chart comparing the stimulus provisions with the compensation restrictions in the original financial bailout legislation, as well as the Treasury Department rules announced by President Obama on February 4.


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  • Released February 12, 2009

The CEO Pay Debate: Myths v Facts
By Sarah Anderson and Sam Pizzigati

Efforts to rein in excessive executive compensation are facing fierce resistance in the U.S. Congress.  This fact sheet identifies and dissects eight common justifications against public policy actions on executive pay. Click here to download "Executive Excess 2008: How Average Taxpayers Subsidize Runaway Pay," an in-depth report on this issue.


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  • Released February 9, 2009

Policy Handcuffs in the Financial Crisis
By Sarah Anderson

Although many countries have used capital controls effectively to address financial market volatility, 52 national governments lack the power to control money flows across their borders as the result of U.S. trade pacts or bilateral investment treaties. The International Monetary Fund abandoned its blanket opposition to capital controls after the Asian financial crisis that erupted in 1997, but the U.S. government forged ahead, initiating agreements restricting capital controls with 22 more countries.

The report quotes numerous noted economists, including two Nobel prize winners and close advisors to President Barack Obama, in support of allowing governments to use capital controls. It also lays out five key opportunities for change, including renegotiating trade agreements and bilateral investment treaties, rolling back World Trade Organization commitments on financial deregulation, and reforming World Bank and IMF policies.


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Note: these reports are Adobe Acrobat PDF documents, which are easy to print and share but require PDF reader software to open. Mac OSX users can open PDF's natively. Microsoft Windows users who do not already have the software installed may need Acrobat Reader. It is a free download.