vi The future of the Affordable Care Act: Reassessment and revision By webfeeds.brookings.edu Published On :: Mon, 11 Jul 2016 17:01:00 -0400 Given the lackluster healthcare exchange enrollment numbers, unaffordable coverage, and increasing overall healthcare costs, President Obama is wrong to think the Affordable Care Act (ACA) needs just a few tweaks – its most fundamental aspects need to be rethought. Obama’s essay marks the first time a modern sitting president has had a piece published in the journal. Much of the progress made under the ACA expanding healthcare coverage to the uninsured has been thanks to increased enrollment in Medicaid -- not the exchanges -- a harbinger of even less progress to come. Secretary of Health and Human Services Sylvia Burwell sharply adjusted down projections of new exchange enrollees in 2016 to 1.3 million. Furthermore, the Congressional Budget Office (CBO) has estimated that over the next decade, as the population increases, coverage will expand only modestly and the proportion of the uninsured will cease to decline. Six key areas in the ACA are flawed -- and need to be fixed if healthcare reform is to meet its promise and not have rampant cost problems: Subsidies still leave plans too expensive. Congress must continue income-related subsidies while making coverage affordable to both households and taxpayers, which is “no easy task” because it could drive up costs of the ACA considerably. The Cadillac tax needs to be fixed. While better than nothing, it doesn’t confront the underlying problem of health insurance being tax deductible, which is regressive and inefficient. One suggestion is a modification of the Cadillac tax that makes any excess plan costs above a cap be considered taxable income to the employee, as opposed to an excise tax. Increase federalism in the healthcare system. States should apply for waivers under Section 1332, which takes effect in 2017 and gives states flexibility to meet the law’s goals while retaining its basic protections. The Administration has made a serious mistake in dragging its feet and acting overly restrictively with states who could launch their own bold and far-reaching experiments, as it has itself in encouraging conservative states to expand Medicaid under the ACA. The exchanges need to be the primary vehicle for health insurance – not Medicaid expansion. Equalizing the subsidy structure for exchange plans and the tax treatment of employer-sponsored benefits, more employees would go on the exchanges which gives them greater choice and portability. Replace the Independent Payment Advisory Board with a premium support system for Medicare. Premium support would enforce a long-term budget for Medicare by allowing greater control of the beneficiaries themselves, as opposed to imposing payment and price controls; it would also accelerate innovation in the design and pricing of Medicare services. The ACA should focus more on the “upstream” determinants of health – beyond just medical services. We need to find ways to blend health, housing, transportation, social services and other items to reduce the need for costly medical services, he writes. If it were a separate economy, the US health system would be equivalent to the first or sixth largest economy in the world. It is both pragmatic and principled to recognize that achieving agreement on how to redesign an economy that large, or to do it successfully in 1 piece of legislation, is beyond the capabilities of the federal government. That is why core parts of the ACA need to be reassessed and revised and why empowering the US system of federalism to adapt and experiment with this law is so important. Read "The Future of the Affordable Care Act: Reassessment and Revision." Authors Stuart M. Butler Publication: JAMA Image Source: © Mariana Bazo / Reuters Full Article
vi On April 9, 2020, Vanda Felbab-Brown discussed “Is the War in Afghanistan Really Over?” via teleconference with the Pacific Council on International Policy. By webfeeds.brookings.edu Published On :: Thu, 09 Apr 2020 20:35:36 +0000 On April 9, 2020, Vanda Felbab-Brown discussed "Is the War in Afghanistan Really Over?" via teleconference with the Pacific Council on International Policy. Full Article
vi Africa in the news: COVID-19 impacts African economies and daily lives; clashes in the Sahel By webfeeds.brookings.edu Published On :: Sat, 11 Apr 2020 11:30:53 +0000 African governments begin borrowing from IMF, World Bank to soften hit from COVID-19 This week, several countries and multilateral organizations announced additional measures to combat the economic fallout from COVID-19 in Africa. Among the actions taken by countries, Uganda’s central bank cut its benchmark interest rate by 1 percentage point to 8 percent and directed… Full Article
vi Preventing violent extremism during and after the COVID-19 pandemic By webfeeds.brookings.edu Published On :: Tue, 28 Apr 2020 17:41:51 +0000 While the world’s attention appropriately focuses on the health and economic impacts of COVID-19, the threat of violent extremism remains, and has in some circumstances been exacerbated during the crisis. The moment demands new and renewed attention so that the gains made to date do not face setbacks. Headlines over the past few weeks have… Full Article
vi Talent-driven economic development: A new vision and agenda for regional and state economies By webfeeds.brookings.edu Published On :: Thu, 10 Oct 2019 17:17:40 +0000 Talent-driven economic development underscores a fundamental tenet of the modern economy: workforce capabilities far surpass any other driver of economic development. This paper aims to help economic development leaders recognize that the future success of both their organizations and regions is fundamentally intertwined with talent development. From that recognition, its goal is to allow economic… Full Article
vi How will the coronavirus affect state and local government budgets? By webfeeds.brookings.edu Published On :: Mon, 23 Mar 2020 18:45:40 +0000 State and local governments are on the frontlines of this crisis. That means increased spending on public health and Medicaid. As of March 26th, 14 states have enacted supplemental appropriations or transferred general revenue funds in order to help public health agencies deal with the virus, and many others are in the process of doing so. Others will… Full Article
vi The next COVID-19 relief bill must include massive aid to states, especially the hardest-hit areas By webfeeds.brookings.edu Published On :: Tue, 28 Apr 2020 15:32:57 +0000 Amid rising layoffs and rampant uncertainty during the COVID-19 pandemic, it’s a good thing that Democrats in the House of Representatives say they plan to move quickly to advance the next big coronavirus relief package. Especially important is the fact that Speaker Nancy Pelosi (D-Calif.) seems determined to build the next package around a generous infusion… Full Article
vi Responding to COVID-19: Using the CARES Act’s hospital fund to help the uninsured, achieve other goals By webfeeds.brookings.edu Published On :: Mon, 13 Apr 2020 13:36:07 +0000 Full Article
vi Webinar: A short- and long-term approach to COVID-19 By webfeeds.brookings.edu Published On :: Wed, 15 Apr 2020 19:16:47 +0000 As the COVID-19 pandemic nears 2 million confirmed infections, scientists and doctors are working on treatments for the sick as well as preventive measures to stop the spread of infection. Dr. William A. Haseltine, known for his groundbreaking work on HIV-AIDS and pioneering application of genomics to drug discovery with Human Genome Sciences, joined USC-Brookings… Full Article
vi After COVID-19—thinking differently about running the health care system By webfeeds.brookings.edu Published On :: Thu, 23 Apr 2020 19:40:25 +0000 Full Article
vi Webinar: Telehealth before and after COVID-19 By webfeeds.brookings.edu Published On :: Mon, 27 Apr 2020 14:35:44 +0000 The coronavirus outbreak has generated an immediate need for telehealth services to prevent further infections in the delivery of health care. Before the global pandemic, federal and state regulations around reimbursement and licensure requirements limited the use of telehealth. Private insurance programs and Medicaid have historically excluded telehealth from their coverage, and state parity laws… Full Article
vi Estimating potential spending on COVID-19 care By webfeeds.brookings.edu Published On :: Tue, 05 May 2020 16:29:47 +0000 The COVID-19 pandemic is causing large shifts in health care delivery as hospitals and physicians mobilize to treat COVID-19 patients and defer nonemergent care. These shifts carry major financial implications for providers, payers, and patients. This analysis seeks to quantify one dimension of these financial consequences: the amounts that will be spent on direct COVID-19… Full Article
vi Removing regulatory barriers to telehealth before and after COVID-19 By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 16:00:55 +0000 Introduction A combination of escalating costs, an aging population, and rising chronic health-care conditions that account for 75% of the nation’s health-care costs paint a bleak picture of the current state of American health care.1 In 2018, national health expenditures grew to $3.6 trillion and accounted for 17.7% of GDP.2 Under current laws, national health… Full Article
vi International Volunteer Service: A Smart Way to Build Bridges By webfeeds.brookings.edu Published On :: Tue, 02 Jun 2009 12:04:50 -0400 Introduction President Obama has proposed expanding the Peace Corps and building a global network of volunteers, “so that Americans work side-by-side with volunteers from other countries.” Achieving this goal will require building on the success of the Peace Corps with a new combination of public and private initiatives designed to expand opportunities for volunteers to address critical global problems such as poverty, contagious diseases, climate change, and conflict. We examine alternative service models, both domestic and foreign, and offer recommendations to the Obama Administration for harnessing the energy and skills of Americans eager to engage in volunteer work in foreign countries as part of a multilateral mobilization effort and smart power diplomacy. Downloads Download Authors David L. CapraraKevin F. F. QuigleyLex Rieffel Full Article
vi Presidents Obama and George H.W. Bush: Building Bridges Through Service By webfeeds.brookings.edu Published On :: Fri, 16 Oct 2009 12:00:00 -0400 President Barack Obama’s visit to the George Herbert Walker Bush Library in College Station, Texas this week highlights the crucial role of America’s volunteer traditions in addressing critical issues at home and abroad. The two presidents will commemorate the 20th anniversary of the Points of Light movement, championed by the 41st president, and advance the United We Serve initiative of President Obama.Michelle Nunn, CEO of Points of Light Institute and daughter of former Democratic Senator Sam Nunn noted in Huffington Post that “demand, idealism and presidential impact are leading American volunteerism to its…most important stage – the movement of service to a central role in our nation’s priorities.” The bipartisan nature of America’s vibrant service movement is also reflected in the landmark Kennedy-Hatch Serve America Act signed into law by President Obama earlier this year and pending Global Service Fellowship legislation introduced by Senators Feingold and Voinovich. In a recent Brookings Global Views policy brief, “International Volunteer Service: A Smart Way to Build Bridges,” Lex Rieffel, Kevin Quigley and I articulate policy options for the new administration to advance President Obama’s call for engaging service on the global level. President Obama’s speech in Cairo on June 4 called for turning “dialogue into interfaith service, so bridges between peoples lead to action – whether it is combating Malaria in Africa, or providing relief for a natural disaster.”Following the president’s Cairo speech, the administration assembled a laudable Global Engagement Initiative across the administration to implement and track results in scaling up initiatives of service and interfaith action. The potency of coupling American service with foreign assistance was documented in Indonesia and Bangladesh through successive Terror Free Tomorrow polls showing increased favorable ratings for our nation and decreased support for terrorism.The Building Bridges Coalition has organized an impressive array of over 210 organizations dedicated to expanding American volunteerism internationally, as part of a new “Service World” policy coalition gearing up for the 50th anniversary of the Peace Corps. This new “international service 2.0” incorporates NGOs and faith-based groups, universities and corporations as new development actors advocating multilateral service and achieving impacts on issues ranging from Malaria to peacebuilding and climate change. A Foundation Strategy Group report commissioned by Brookings and Pfizer, “Volunteering for Impact” assessed best practices in the increasing array of international corporations engaging volunteers such as IBM’s Corporate Service Corps, GE Volunteers and Pfizer’s Global Health Fellows. Around the globe, initiatives such as Cross Cultural Solutions and an emerging global service and peacebuilding alliance in hot spots from Kenya to Mindanao are giving substance to the president’s call in Cairo. The collaboration of Presidents Clinton and G.H.W. Bush on humanitarian assistance after the tsunami, and this week’s service dedication with the Obama administration and former President Bush, bode well for the bipartisan extension of our nation’s noble voluntary service traditions in the international context where they are urgently needed. Authors David L. Caprara Image Source: © Jim Young / Reuters Full Article
vi Perceived Impacts of International Service on Volunteers By webfeeds.brookings.edu Published On :: Mon, 21 Jun 2010 14:25:00 -0400 International volunteer service is defined as an organized period of engagement and contribution to society by individuals who volunteer across an international border. There is growing interest in the potential of international service to foster international understanding between peoples and nations and to promote global citizenship and intercultural cooperation. Studies suggest that international service develops skills, mindsets, behaviors and networks that prepare volunteers for living and working in a knowledge-based global economy. Many believe that even short-term experiences abroad can begin to prepare participants for longer-term engagement and future international service.International service may be growing in prevalence worldwide. In the United States, more than one million Americans reported volunteering abroad in 2008. Despite the scale of international service, its impacts are not well understood. Although there is a growing body of descriptive evidence about the various models and intended outcomes of international service, the overwhelming majority of research is based on case and cross-sectional studies, which do not permit conclusions about the impacts of international service. Scholars and practitioners in the field have called for rigorous research that documents impacts. Downloads Download the report Authors Amanda Moore McBrideBenjamin J. LoughMargaret Sherrard Sherraden Full Article
vi International Volunteer Service: Global Development from the Ground Up By webfeeds.brookings.edu Published On :: Mon, 21 Jun 2010 14:50:00 -0400 President Obama’s emphasis on “smart power” diplomacy has thrust the need for international volunteer service into the global spotlight. On June 23, Global Economy and Development at Brookings and Washington University’s Center for Social Development (CSD) will host a forum examining how international volunteer service can address multiple global challenges simultaneously and build international cooperation. The forum will frame international service as an effective tool for increasing international social capital as well as building sustainable cross-cultural bridges.This event begins with an address by service champion, Ambassador Elizabeth Frawley Bagley, who leads the Department of State’s Global Partnerships Initiative. Bagley is well poised to foster innovative public-private partnerships, an approach she describes as “Ubuntu Diplomacy: where all sectors belong as partners, where we all participate as stakeholders, and where we all succeed together, not incrementally but exponentially.” The need for multilateral approaches to development has been analyzed by Brookings scholars Jane Nelson and Noam Unger, who explore how the U.S. foreign assistance system works in the new market-oriented and locally-driven global development arena. This spirit of cross-sector collaboration will carry the June 23rd forum, beginning with a research panel releasing beneficiary outcome data from a Peace Corps survey completed with over 800 host country nationals, including community members, direct beneficiaries, and collaborators. Peace Corps colleagues, Dr. Susan Jenkins and Janet Kerley, will present preliminary findings from this multi-year study measuring the achievement of “helping the people of interested countries in meeting their need for trained men and women” and “promoting a better understanding of Americans on the part of the peoples served”. Aggregate data about respondents’ views of Americans before and after their interaction with the Peace Corps will be discussed. This work complements the release of new data on the impact of international service on volunteers, which is supported with funding from the Ford Foundation and a joint Brookings-Washington University academic venture capital fund. Washington University’s CSD has studied international service over the last decade. The current research, first in a series from the quasi-experimental study, compares international volunteers’ perceived outcomes to a matched group who did not volunteer internationally: volunteers are more likely to report increased international awareness, international social capital, and international career intentions. Building on the demonstrated potential of international service, policymakers and sector leaders will then discuss options for enhancing international service, and provide recommendations for bringing international service to the forefront of American foreign policy initiatives. This policy plenary will introduce and discuss the Service World policy platform: a collaborative movement led by the Building Bridges Coalition, National Peace Corps Association and the International Volunteering Initiative at Brookings. This powerhouse of sector leaders aims to scale international service to the levels of domestic volunteer service with increased impact through smart power policy proposals. What Service Nation did to unite Americans around domestic service as a core ideal and problem-solving strategy in American society, Service World hopes to do on a global scale. Next week in New York City, the Points of Light Institute and the Corporation for National and Community Service will convene to further spotlight the Service World Platform at the 2010 National Conference on Volunteering and Service. This event will bring together more than 5,000 volunteer service leaders and social entrepreneurs from around the world, including local host Mayor Bloomberg. Michelle Nunn, CEO of Points of Light Institute noted in Huffington Post that “demand, idealism and presidential impact are leading American volunteerism to its…most important stage – the movement of service to a central role in our nation’s priorities.” Nunn’s statement illustrates the momentum and power that make the voluntary sector a unique instrument in the “smart power” toolbox. According to successive polling from Terror Free Tomorrow, American assistance, particularly medical service, is a leading factor in favorable opinions toward the United States. A 2006 survey conducted in Indonesia and Bangladesh showed a 63 percent favorable response among Indonesian respondents to the humanitarian medical mission of “Mercy,” a United States’ Navel Ship, and a 95 percent favorable response among Bangladeshi respondents. Personifying the diplomatic potential of medical service abroad is Edward O’Neil’s work with OmniMed. In the Mukono District of Uganda, OmniMed has partnered with the U.S. Peace Corps and the Ugandan Ministry of Health as well as local community-based organizations to implement evidence-based health trainings with local village health workers. Dr. O’Neil is now working with Brookings International Volunteering Initiative and Washington University’s CSD on a new wave of rigorous research: a randomized, prospective clinical trial measuring the direct impact of over 400 trained village health workers on the health of tens of thousands of villagers. In the words of Peace Corps architect and former U.S. Senator Harris Wofford, the pairing of new data and policy proposals on June 23rd will support a “quantum leap” in the scale and impact of international service, advancing bipartisan calls to service from President Kennedy to Bush 41, Bush 43, Clinton and Obama. Authors Amanda Moore McBrideDavid L. Caprara Image Source: © Juan Carlos Ulate / Reuters Full Article
vi International Volunteering and Service By webfeeds.brookings.edu Published On :: Wed, 23 Jun 2010 14:30:00 -0400 Event Information June 23, 20102:30 PM - 5:30 PM EDTFalk AuditoriumThe Brookings Institution1775 Massachusetts Ave., NWWashington, DC On June 23, Global Economy and Development at Brookings and Washington University’s Center for Social Development hosted a forum to examine how international volunteering and service serve as critical tools for meeting global challenges.The forum framed international service as an integral component of “smart power” diplomacy and as a cost effective way to build cross-cultural bridges. Ambassador Elizabeth Frawley Bagley, special representative for global partnerships at the U.S. Department of State, delivered a keynote address on how the United States can better promote international service and its impact on American diplomacy, national security and global economies. The research panel released new data on the impact of international service on volunteers, host communities and host country perceptions of volunteers from the United States. Policymakers and sector leaders discussed options for enhancing international service, and provided recommendations for bringing global service to the forefront of American foreign policy initiatives. View the keynote speech by Ambassador Bagley » Video Global Development's National ResponsibilityEmphasize Core Competencies in VolunteeringShared Global Responses to Shared Global ProblemsYoung People Want To Make World Better PlaceData Are Important to Enhancing Volunteerism Audio International Volunteering and ServiceInternational Volunteering and ServiceInternational Volunteering and ServiceInternational Volunteering and Service Transcript Full Uncorrected Transcript (.pdf)Welcoming Remarks, Opening Remarks and Keynote - Transcript (.pdf)Panel One - Transcript (.pdf)Panel Two - Transcript (.pdf)Closing Remarks - Transcript (.pdf) Event Materials 20100623_volunteering20100623_volunteering_intro20100623_volunteering_panel120100623_volunteering_panel220100623_volunteering_closing_remarks Full Article
vi Volunteering and Civic Service in Three African Regions By webfeeds.brookings.edu Published On :: Wed, 27 Jun 2012 09:44:00 -0400 INTRODUCTION In December 2011, the United Nations State of the World’s Volunteering Report was released at the U.N. headquarters in New York along with a General Assembly resolution championing the role of volunteer action in peacebuilding and development. The United Nations Volunteers (UNV) Program report states that: The contribution of volunteerism to development is particularly striking in the context of sustainable livelihoods and value-based notions of wellbeing. Contrary to common perceptions, the income poor are as likely to volunteer as those who are not poor. In doing so, they realize their assets, which include knowledge, skills and social networks, for the benefit of themselves, their families and their communities…Moreover, volunteering can reduce the social exclusion that is often the result of poverty, marginalization and other forms of inequality…There is mounting evidence that volunteer engagement promotes the civic values and social cohesion which mitigate violent conflict at all stages and that it even fosters reconciliation in post-conflict situations... The “South Africa Conference on Volunteer Action for Development” convened in Johannesburg in October 2011, and the July 2012 “Africa Conference on Volunteer Action for Peace and Development” co-hosted with the Kenya’s Ministry of East African Community, the United Nations and partners in Nairobi give further evidence to the rise of and potential for volunteer service to impact development and conflict. Indeed, in the aftermath of the 2011 Arab Spring, youth volunteer service and empowerment have emerged as a pivotal idea in deliberations aimed at fostering greater regional cohesion and development. In “Foresight Africa: Top Priorities for the Continent in 2012,” Mwangi S. Kimenyi and Stephen N. Karingi note that: “One of the most important pillars in determining whether the positive prospects for Africa will be realized is success in regional integration… This year is a crucial one for Africa’s regional integration project and actions by governments, regional organizations and the international community will be critical in determining the course of the continent’s development for many years to come.” The authors note the expected completion of a tripartite regional free trade agreement by 2014 and the expected boost to intra-African trade, resulting in an expanded market of 26 African countries (representing more than half of the region’s economic output and population). At the same time, the declaration from the “South Africa Conference on Volunteer Action for Development” calls on “Governments of Southern African member states and other stakeholders to incorporate volunteering in their deliberations from Rio +20 and to recognize the transformational power as well as economic and social value of volunteering in achieving national development goals and regional priorities, which can be achieved by facilitating the creation of an enabling environment for volunteering to support, protect and empower volunteers.” This speaks directly to the urgent need to factor the social dimension into the regional integration agenda in the different African subregions. This paper includes examples of the growth of volunteer service as a form of social capital that enhances cohesion and integration across three regions: southern, western, and eastern Africa. It further highlights civil society best practices and policy recommendations for increased volunteering in efforts to ensure positive peace, health, youth skills, assets and employment outcomes. The importance of volunteering to development has been noted in recent United Nations consultations on the Rio+20 convening on sustainable development and the post-2015 development framework. As the U.N. reviews its Millennium Development Goals (MDG) process, Africa’s regional service initiatives offer vital lessons and strategies to further achieve the MDGs by December 2015, and to chart the way forward on the post-2015 development framework. But how does volunteerism and civic service play out in sub-Saharan Africa? What are its institutional and non-institutional expressions? What are the benefits or impacts of volunteerism and civic service in society? Our specific purpose here is to provide evidence of the different manifestations and models of service, impact areas and range of issues in three African regions. In responding to these questions, this analysis incorporates data and observations from southern, western and eastern Africa. In conclusion, we provide further collective insights and recommendations for the roles of the Africa Union and regional economic communities (RECs), youth, the international community, the private sector and civil society aimed at ensuring that volunteerism delivers on its promise and potential for impact on regional integration, youth development and peace. Downloads Download the full report Authors David L. CapraraJacob Mwathi MatiEbenezer ObadareHelene Perold Image Source: Wolfgang Rattay / Reuters Full Article
vi Youth and Civil Society Action on Sustainable Development Goals: New Multi-Stakeholder Framework Advanced at UN Asia-Pacific Hosted Forum By webfeeds.brookings.edu Published On :: Wed, 05 Nov 2014 16:27:00 -0500 In late October at the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) headquarters in Bangkok, a multi-stakeholder coalition was launched to promote the role of youth and civil society in advancing post-2015 United Nations Sustainable Development Goals (SDGs). The youth initiatives, fostering regional integration and youth service impact in the Association of Southeast Asian Nations (ASEAN) and counterpart regions of Northeast and South Asia, will be furthered through a new Asia-Pacific Peace Service Alliance. The alliance is comprised of youth leaders, foundations, civil society entities, multilateral partners and U.N. agencies. Together, their initiatives illustrate the potential of youth and multi-stakeholder coalitions to scale impacts to meet SDG development targets through youth service and social media campaigns, and partnerships with multilateral agencies, nongovernmental organizations, corporations and research institutes. The “Asia-Pacific Forum on Youth Volunteerism to Promote Participation in Development and Peace” at UN ESCAP featured a new joint partnership of the U.S. Peace Corps and the Korea International Cooperation Agency (KOICA) as well as USAID support for the ASEAN Youth Volunteering Program. With key leadership from ASEAN youth entitles, sponsor FK Norway, Youth Corps Singapore and Peace Corps’ innovative program in Thailand, the forum also furthered President Obama’s goal of Americans serving “side by side” with other nations’ volunteers. The multi-stakeholder Asia-Pacific alliance will be powered by creative youth action and a broad array of private and public partners from Thailand, Malaysia, Myanmar, Indonesia, Singapore, the Philippines, Australia, Korea, China, Mongolia, Japan, India, Nepal, Pakistan, the U.S. and other nations. During the event, Dr. Shamshad Akhtar, ESCAP executive secretary, pointed out that “tapping youth potential is critical to shape our shared destiny, as they are a source of new ideas, talent and inspiration. For ESCAP and the United Nations, a dynamic youth agenda is vital to ensure the success of post-2015 sustainable development.” Dr. Surin Pitsuwan, former ASEAN secretary-general, called for a new Asia-wide multilateralism engaging youth and civil society. In his remarks, he drew from his experience in mobilizing Asian relief and recovery efforts after Cyclone Nargis devastated the delta region of Myanmar in May 2008. Surin, honorary Alliance chairman and this year’s recipient of the Harris Wofford Global Citizenship Award, also noted the necessity of a “spiritual evolution” to a common sense of well-being to redress the “present course of possible extinction” caused by global conflicts and climate challenges. He summoned Asia-Pacific youth, representing 60 percent of the world’s young population, to “be the change you want to see” and to “commit our youth to a useful cause for humanity.” The potential for similar upscaled service efforts in Africa, weaving regional integration and youth volunteering impact, has been assessed in Brookings research and policy recommendations being implemented in the Common Market of Eastern and Southern Africa (COMESA). Recommendations, many of which COMESA and ASEAN are undertaking, include enabling youth entrepreneurship and service contributions to livelihoods in regional economic integration schemes, and commissioning third-party support for impact evidence research. A good example of successful voluntary service contributions from which regional economic communities like ASEAN can learn a lot is the current Omnimed pilot research intervention in Uganda. In eastern Ugandan villages, 1,200 village health workers supported by volunteer medical doctors, Uganda’s Health Ministry, Peace Corps volunteers and Global Peace Women are addressing lifesaving maternal and child health outcomes furthering UNICEF’s campaign on “integrated health” addressing malaria, diarrheal disease and indoor cooking pollution. The effort has included construction of 15 secure water sources and 1,200 clean cook stoves along with randomized controlled trials. Last week, the young leaders from more than 40 nations produced a “Bangkok Statement” outlining their policy guidance and practical steps to guide volunteering work plans for the new Asia-Pacific alliance. Youth service initiatives undertaken in “collective impact” clusters will focus on the environment (including clean water and solar villages), health service, entrepreneurship, youth roles in disaster preparedness and positive peace. The forum was co-convened by ESCAP, UNESCO, the Global Peace Foundation and the Global Young Leaders Academy. Authors David L. Caprara Full Article
vi International volunteer service and the 2030 development agenda By webfeeds.brookings.edu Published On :: Tue, 14 Jun 2016 09:00:00 -0400 Event Information June 14, 20169:00 AM - 12:50 PM EDTFalk AuditoriumBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036 Register for the EventA 10th anniversary forum The Building Bridges Coalition was launched at the Brookings Institution in June 2006 to promote the role of volunteer service in achieving development goals and to highlight research and policy issues across the field in the United States and abroad. Among other efforts, the coalition promotes innovation, scaling up, and best practices for international volunteers working in development. On June 14, the Brookings Institution and the Building Bridges Coalition co-hosted a 10th anniversary forum on the role of volunteers in achieving the United Nation’s Sustainable Development Goals for 2030 and on the coalition’s impact research. General Stanley McChrystal was the keynote speaker and discussed initiatives to make a year of civilian service as much a part of growing up in America as going to high school. Afterwards, three consecutive panels discussed how to provide a multi-stakeholder platform for the advancement of innovative U.S.-global alliances with nongovernmental organizations, faith-based entities, university consortia, and the private sector in conjunction with the launch of the global track of Service Year Alliance. For more information on the forum and the Building Bridges Coalition, click here. Video Welcoming remarks and featured speakerPanel 1 — Role of volunteer service in achieving the 2030 Sustainable Development GoalsPanel 2 — Policy perspective: National and international service in the next administrationPanel 3 — One million Americans in global service: The role of faith-based service Audio International volunteer service and the 2030 development agenda Transcript Uncorrected Transcript (.pdf) Event Materials 20160614_volunteering_development_transcript Full Article
vi Cities and states are on the front lines of the economic battle against COVID-19 By webfeeds.brookings.edu Published On :: Fri, 20 Mar 2020 15:29:05 +0000 The full economic impact of the COVID-19 pandemic came into sharp relief this week, as unemployment claims and small business closures both skyrocketed. Addressing the fallout will require a massive federal stimulus, and both Congress and the White House have proposed aid packages exceeding $1 trillion. But as we noted on Monday, immediate assistance to… Full Article
vi We don’t need a map to tell us who COVID-19 hits the hardest in St. Louis By webfeeds.brookings.edu Published On :: Mon, 06 Apr 2020 15:48:19 +0000 On April 1, the City of St. Louis released the number of confirmed cases of the coronavirus disease (COVID-19) by zip code. Although the number of COVID-19 tests conducted by zip code has not yet been disclosed by officials—which suggests that the data are not fully representative of all cases—we do see stark differences in… Full Article
vi COVID-19 can augment violence to Mexican women By webfeeds.brookings.edu Published On :: Mon, 13 Apr 2020 13:55:24 +0000 On March 8, some 80,000 women in Mexico marched to protest violence against women. A day later, many women stayed home away from work and public places to demand the Mexican government and society take actions to protect women from femicides and domestic violence. Then, as the coronavirus (COVID-19) started sweeping through the United States… Full Article
vi Moving on up: More than relocation as a path out of child poverty By webfeeds.brookings.edu Published On :: Thu, 17 Oct 2019 14:36:39 +0000 The U.S. scores below many industrialized nations in rates of child poverty, lagging behind France, Hungary, and Chile, among others. Dramatically different social safety net and health care systems, population diversity, economic and political stability, and capitalist society values with purported opportunities are only a few of the many explanations for the disparities that play… Full Article
vi Better serving the needs of America’s homeless students By webfeeds.brookings.edu Published On :: Thu, 24 Oct 2019 15:05:41 +0000 With President Trump’s recent attacks on the California homeless population and talk of a related policy “crackdown,” this is a good time to consider the opportunities and resources available to homeless students in America. More than a million U.S. students meet the federal definition of homeless. It’s a group with complex, varied, and extensive needs—many… Full Article
vi Protecting our most economically vulnerable neighbors during the COVID-19 outbreak By webfeeds.brookings.edu Published On :: Mon, 16 Mar 2020 20:31:11 +0000 While we are all adjusting to new precautions as we start to understand how serious the COVID-19 coronavirus is, we also need to be concerned about how to minimize the toll that such precautions will have on our most economically vulnerable citizens. A country with the levels of racial and income inequality that we have… Full Article
vi Webinar: The effects of the coronavirus outbreak on marginalized communities By webfeeds.brookings.edu Published On :: Wed, 25 Mar 2020 19:00:40 +0000 As the coronavirus outbreak rapidly spreads, existing social and economic inequalities in society have been exposed and exacerbated. State and local governments across the country, on the advice of public health officials, have shuttered businesses of all types and implemented other social distancing recommendations. Such measures assume a certain basic level of affluence, which many… Full Article
vi From rural digital divides to local solutions By webfeeds.brookings.edu Published On :: Thu, 02 Apr 2020 13:05:18 +0000 From Rural Digital Divides to Local Solutions By Nicol Turner-Lee Photography by Mark Williams-Hoelscher The road to Garrett County, Maryland Thick snow flurries fell on the night that my colleague Mark Hoelscher, then Brookings’s resident photographer, and I left Washington, D.C., driving northwest on Interstate 270 toward Garrett County, Maryland. The trip, which is normally… Full Article
vi Removing regulatory barriers to telehealth before and after COVID-19 By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 16:00:55 +0000 Introduction A combination of escalating costs, an aging population, and rising chronic health-care conditions that account for 75% of the nation’s health-care costs paint a bleak picture of the current state of American health care.1 In 2018, national health expenditures grew to $3.6 trillion and accounted for 17.7% of GDP.2 Under current laws, national health… Full Article
vi How to increase financial support during COVID-19 by investing in worker training By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 17:46:07 +0000 It took just two weeks to exhaust one of the largest bailout packages in American history. Even the most generous financial support has limits in a recession. However, I am optimistic that a pandemic-fueled recession and mass underemployment could be an important opportunity to upskill the American workforce through loans for vocational training. Financially supporting… Full Article
vi COVID-19 misinformation is a crisis of content mediation By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 13:43:03 +0000 Amid a catastrophe, new information is often revealed at a faster pace than leaders can manage it, experts can analyze it, and the public can integrate it. In the case of the COVID-19 pandemic, the resulting lag in making sense of the crisis has had a profound impact. Public health authorities have warned of the… Full Article
vi Artificial Intelligence Won’t Save Us From Coronavirus By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 22:46:30 +0000 Full Article
vi Exit from coronavirus lockdowns – lessons from 6 countries By webfeeds.brookings.edu Published On :: Fri, 08 May 2020 08:05:54 +0000 Full Article
vi 5 ways Trump can navigate Syria’s geopolitical battlefield By webfeeds.brookings.edu Published On :: Fri, 17 Mar 2017 13:00:47 +0000 Two months into the Trump administration, it is hard to tell if there has been any discernible shift in U.S. strategy towards Syria. The new president’s 30-day deadline to the U.S. military for devising new plans to defeat ISIS in the Levant and beyond has come and gone—but we cannot easily tell from the outside […] Full Article
vi Turkey and COVID-19: Don’t forget refugees By webfeeds.brookings.edu Published On :: Mon, 20 Apr 2020 18:13:49 +0000 It has been more than a month since the first COVID-19 case was detected in Turkey. Since then, the number of cases has shot up significantly, placing Turkey among the top 10 countries worldwide in terms of cases. Government efforts have kept the number of deaths relatively low, and the health system so far appears… Full Article
vi The coronavirus has led to more authoritarianism for Turkey By webfeeds.brookings.edu Published On :: Fri, 08 May 2020 20:00:26 +0000 Turkey is well into its second month since the first coronavirus case was diagnosed on March 10. As of May 5, the number of reported cases has reached almost 130,000, which puts Turkey among the top eight countries grappling with the deadly disease — ahead of even China and Iran. Fortunately, so far, the Turkish death… Full Article
vi Five evils: Multidimensional poverty and race in America By webfeeds.brookings.edu Published On :: Thu, 14 Apr 2016 00:00:00 -0400 Image Source: © Rebecca Cook / Reuters Full Article
vi It happens on the pavement: Putting cities at the center of countering violent extremism By webfeeds.brookings.edu Published On :: Wed, 01 Jun 2016 11:40:00 -0400 In March alone, at least nine cities across three continents were hit by terrorist attacks. Municipalities—from megacities to tertiary cities—continue to bear the brunt of such attacks: in the short term, they provide first response and take essential security measures; in the longer term, they suffer from the fallout of intercommunal tensions and economic slowdowns, which can last for years and spread beyond the target city. Yet, post-attack discussions tend to be dominated by what national governments can do to prevent future attacks—whether through enhanced border security, law enforcement, intelligence, or military measures; or though intensified efforts to resolve underlying conflicts; or through more cooperation with foreign governments. This is understandable given the resources of national governments and their long-standing monopoly on force and foreign policy. Nevertheless, a small but growing number of cities and other local authorities are realizing that they have an essential role to play in countering violent extremism (CVE) as well. Urban trend-setters There is nothing new about cities coming to the realization that they need to act in the face of global challenges. Mayors and city-networks such as the C40 Climate Action Leadership Group have vocally engaged on the global stage to counter carbon emissions. Cities have frequently shown themselves to be generally more nimble and less averse to risk-taking than their national counterparts. Mayors operate under intense expectations to “get things done,” but when it comes to the threats of transnational violent extremism, what does that mean? Much like with climate change and other global challenges where cities are becoming increasingly active stakeholders, cities are serving as laboratories for developing and testing innovative initiatives to prevent violent extremism from taking root, designed and implemented in collaboration with local communities. [C]ities are serving as laboratories for developing and testing innovative initiatives to prevent violent extremism from taking root. The comparative advantages of local authorities are manifold: They are best positioned to understand the grievances that might make their citizens vulnerable to terrorist recruitment; to identify the drivers and early signs of violent extremism; to build trust between the community and local police; to develop multi-agency prevention efforts that involve families, community leaders, social workers, and mental health professionals; and to develop programs that offer alternatives to alienated youth who might otherwise be attracted to violence. Recognizing these advantages, local leaders are developing strategies and programs to address the violent extremist threat at each stage of the radicalization cycle. Cities across Europe have been at the forefront of these efforts, with Aarhus, Denmark often cited as a model. The approach of Aarhus involves both prevention and care, relying an extensive community-level network to help young people returning from Syria an opportunity to reintegrate in Danish society (provided they haven’t committed a crime) and mentoring to try to dissuade people from traveling to the conflict. In Montgomery County, Maryland, the county authorities are involved in a community intervention program that includes training for faith leaders, teachers, social service providers, police, and parents on how to recognize the early signs of extremism in underserviced immigrant communities. In Montreal, a $2 million, multi-disciplinary “anti-radicalization center” provides mothers who suspect their children may be vulnerable to radicalization or recruitment with resources that don’t involve contacting the police. The center focuses on training people how to identify the signs of radicalization and researching the drivers of radicalization in Montreal and what works to prevent its growth. Cities are dynamic actors, in part, because they have no problem borrowing from each other. Inspired by the Montreal initiative, Brussels opened a prevention-focused, anti-radicalization center, which—like the Montreal center—keeps the police out of the picture unless necessary to confront an imminent threat. In Australia, both Victoria and New South Wales have set aside funds to support local NGO-led interventions that target individuals who may be radicalizing and build community resilience. In Mombasa, Kenya, Governor Hassan Ali Joho is working with the regional parliament and local civil society groups to develop a county-level CVE strategy that includes a heavy focus on providing youth with positive alternatives to joining al-Shabab. Except for Mombasa, nearly all municipality-led CVE efforts are taking place in the global north. Throughout the world, mayors and other local leaders are not part of national-level conversations about how to prevent future attacks. If national governments insist on viewing national security issues like violent extremism as being the exclusive policy domain of the capital, they will miss crucial opportunities to address a threat that is increasingly localized. Part of the challenge is that, much like on other global issues, municipal authorities operate within the policy and bureaucratic frameworks of national governments. Those governments can enable or, just as frequently, impede effective local action. Thus, there is often a ceiling for local actors. Raising or breaking through the ceiling is particularly difficult in the security space, given the monopoly that many national governments want to maintain over issues of national security—even while recognizing the need for local solutions. Flattening the CVE policy space The good news is that in countries where local authorities can innovate and lead, energy around city-led CVE efforts is increasing. Cities are sharing lessons learned and challenges, with city-to-city networks like with the Strong Cities Network (SCN)—which held its first summit earlier this month in Antalya, Turkey—sprouting to facilitate cooperation. Yet, a significant majority of SCN members are in countries where national governments already acknowledge local authorities’ key role in CVE. With a few exceptions, cities from large swathes of the globe—including in regions where the problem of violent extremism is most acute, like the Middle East and North Africa, as well as Asia—are not enabled to contribute to efforts to prevent violent extremism from taking root in their communities. CVE discussions in general should highlight ways in which national policymakers have enabled effective local CVE activities, as well as roadblocks and solutions. These discussions should also be brought into multilateral platforms such as the U.N. Global Counterterrorism Forum. A number of other steps could be taken to enhance vertical cooperation on CVE. For example, countries could involve municipal-level representatives (not simply the national ministry responsible for engaging with such authorities) in developing national CVE plans and provide such authorities with a role in implementation. National governments that already do this could start including representatives of cities in security and broader foreign policy dialogues, particularly with those that continue to resist their involvement. National governments should incentivize local authorities to work with their communities to innovate in this issue area. A public-private innovation fund could be established to support city-led CVE projects in countries where political will exceeds resources; those international donors committed to supporting local solutions to global challenges and increasing the involvement of local authorities in national security conversations should invest in such a fund and, more broadly, in building the capacity of city-level officials and practitioners in the CVE sphere. None of these steps is likely to be an elixir—after all, the notion that national security issues should be handled exclusively at the national level is deeply entrenched. However, taking these steps can generate gradual improvements in vertical cooperation on CVE issues, much like we have seen with international and inter-agency counterterrorism cooperation involving national governments over the past decade. Authors Eric RosandIan Klaus Full Article
vi Mapping—and tackling—the world's violence By webfeeds.brookings.edu Published On :: Thu, 02 Jun 2016 12:02:00 -0400 What are the greatest dangers to citizens of the world's cities, as well as its towns, villages, and rural areas? This is an important issue to understand as we approach the general election season in the United States, when candidates for the highest office in the land will have to help voters make sense of the state of violence around the world—and tell us what they would do about it. Headlines can be deceiving. We hear about China's rise, Russia's adventures, North Korea's nuclear misbehavior, the Iran nuclear deal, Pakistan and Afghanistan, and of course ISIS and civil war in the Middle East all the time. But it is also worth taking a step back to understand the broader state of violence on the planet today. Do so, and you might be surprised. As part of a Brookings-JPMorgan Chase project that we call Securing Global Cities, we have attempted to map these trends in violence, benefiting greatly from ongoing work at European think tanks like the Peace Research Institute Oslo (PRIO) and the Stockholm International Peace Research Institute (SIPRI), the University of Maryland, and the United Nations. Here are some of the most salient facts and figures: Even with Russian President Vladimir Putin's activities from Ukraine to Syria in recent years, interstate conflict remains low and mild in intensity by historical standards, thankfully. China's activities in the South China Sea, however concerning, do not presently broach the threshold of interstate war. Unfortunately, the picture is more muddled for civil war. It remains less prevalent and less deadly than in the worst periods of the Cold War and the 1990s. But it has ticked up considerably since the beginning of the Arab spring in 2011, especially in the broad arc from the Sahel in Africa through the Middle East and to South Asia. Worldwide, perhaps 100,000 people a year are dying in civil wars. Yet war and terrorism are not the primary security threats to most people on the planet today. Notably, each year, more than 400,000 people are murdered around the globe, according to the United Nations Office on Drugs and Crime. Murder rates are highest in the Americas and in Africa, at least twice the global average. They are greatest in central and southern Africa, and from Brazil and Venezuela/Colombia to Central America and the Caribbean and Mexico. The least violent parts of the world include most of East Asia and Western Europe, despite the terrorism threat afflicting the latter region of late. The “most improved” regions in recent decades include Colombia, former war-torn African states like Angola, Mozambique, Liberia, and Sierra Leone, as well as parts of Southeast Asia and a number major U.S. cities. If one broadens the lens on the definition of violence, motor vehicle accidents constitute an even bigger threat. The World Health Organization estimates that 1.2 million people a year die in such accidents worldwide. As cities and countries think about future security, they must bear in mind not just these current realities but the potential for catastrophe—from earthquakes, droughts, pandemics, nuclear reactor disasters, and massive infrastructural failures. In a worst case, tens of millions could suddenly be put at acute risk. There is much to celebrate about the human condition today. Despite the headlines, life has actually never been safer or more prosperous for a higher fraction of the world's population. But our progress is fragile, and it is of course incomplete. The next U.S. president needs a plan for Syria, Libya, and Yemen, to be sure. But he or she also needs to address the broader challenges of urban and global security for a planet that is getting healthier and more secure but which still has a very long ways to go. A good first step is to collect and study what works in key cities and countries around the world so that we can all learn from each other, on topics ranging from breaking up gangs to corralling drug traffickers to stopping terrorism. A great deal has been learned; it is time to spread the knowledge, and emulate the best practices worldwide. Authors Michael E. O'Hanlon Full Article
vi Countering violent extremism programs are not the solution to Orlando mass shooting By webfeeds.brookings.edu Published On :: Wed, 29 Jun 2016 00:00:00 -0400 In the early hours of Sunday June 12, 2016, a madman perpetrated the mass murder of 49 people in a nightclub considered a safe space for Orlando’s LGBT community. Politicians quickly went into gear to exploit this tragedy to push their own agendas. Glaringly silent on the civil rights of LGBT communities, Donald Trump and Ted Cruz repeated their calls to ban, deport, and more aggressively prosecute Muslims in the wake of this attack. As if Muslims in America are not already selectively targeted in counterterrorism enforcement, stopped for extra security by the TSA at airports, and targeted for entrapment in terrorism cases manufactured by the FBI. Other politicians reiterated calls for Muslim communities to fight extremism purportedly infecting their communities, all while ignoring the fact that domestic terrorism carried out by non-Muslim perpetrators since 9/11 has had a higher impact than the jihadist threat. Asking Muslim American communities to counter violent extremism is a red herring and a nonstarter. In 2011, the White House initiated a countering violent extremism (CVE) program as a new form of soft counterterrorism. Under the rubric of community partnerships, Muslim communities are invited to work with law enforcement to prevent Muslims from joining foreign terrorist groups such as ISIS. Federal grants and rubbing elbows with high level federal officials are among the fringe benefits for cooperation, or cooptation as some critics argue, with the CVE program. Putting aside the un-American imposition of collective responsibility on Muslims, it is a red herring to call on Muslims to counter violent extremism. An individual cannot prevent a criminal act about which s/he has no knowledge. Past cases show that Muslim leaders, or the perpetrators’ family members for that matter, do not have knowledge of planned terrorist acts. Hence, Muslims and non-Muslims alike are in the same state of uncertainty and insecurity about the circumstances surrounding the next terrorist act on American soil. CVE is also a nonstarter for a community under siege by the government and private acts of discrimination. CVE programs expect community leaders and parents to engage young people on timely religious, political, and social matters. While this is generally a good practice for all communities, it should not be conducted through a security paradigm. Nor can it occur without a safe space for honest dialogue. After fifteen years of aggressive surveillance and investigations, there are few safe spaces left in Muslim communities. Thanks in large part to mass FBI surveillance, mosques have become intellectual deserts where no one dares engage in discussions on sensitive political or religious topics. Fears that informants and undercover agents may secretly report on anyone who even criticizes American foreign policy have stripped mosques from their role as a community center where ideas can be freely debated. Government deportations of imams with critical views have turned Friday sermons into sterile monologues about mundane topics. And government efforts to promote “moderate” Muslims impose an assimilationist, anti-intellectual, and tokenized Muslim identity. For these reasons, debates about religion, politics, and society among young people are taking place online outside the purview of mosques, imams, and parents. Meanwhile, Muslim youth are reminded in their daily lives that they are suspect and their religion is violent. Students are subjected to bullying at school. Mosques are vandalized in conjunction with racist messages. Workers face harassment at work. Muslim women wearing headscarves are assaulted in public spaces. Whether fear or bigotry drives the prejudice, government action and politicians’ rhetoric legitimize discrimination as an act of patriotism. Defending against these civil rights assaults is consuming Muslim Americans’ community resources and attention. Worried about their physical safety, their means of livelihood, and the well-being of their children in schools; many Muslim Americans experience the post-9/11 era as doubly victimized by terrorism. Their civil rights are violated by private actors and their civil liberties are violated by government actors—all in retribution for a criminal act about which they had no prior knowledge, and which they had no power to prevent by a criminal with whom they had no relationship. To be sure, we should not sit back and allow another mass shooting to occur without a national conversation about the causes of such violence. But wasting time debating ineffective and racialized CVE programs is not constructive. Our efforts are better spent addressing gun violence, the rise of homophobic violence, and failed American foreign policy in the Middle East. We all have a responsibility to do what we can to prevent more madmen from engaging in senseless violence that violates our safe spaces. This article was originally published in the Huffington Post. Authors Sahar Aziz Publication: The Huffington Post Image Source: © Jonathan Ernst / Reuters Full Article
vi Solutions to Chicago’s youth violence crisis By webfeeds.brookings.edu Published On :: Fri, 01 Jul 2016 14:57:00 -0400 Arne Duncan, former U.S. secretary of education during the Obama administration and now a nonresident senior fellow with the Brown Center on Education Policy, discusses the crisis of youth violence in Chicago and solutions that strengthen schools and encourage more opportunities for those who are marginalized to make a living in the legal economy. “The best thing we can do is create hope, opportunity and jobs particularly on the South and West side for young and black men who have been disenfranchised, who have been on the streets. If we can give them some chances to earn a living in a legal economy not selling drugs and not on street corners, I think we have a chance to do something pretty significant here,” Duncan says. “My fundamental belief is that the police cannot solve this on their own we have to create opportunities for young people in communities who have been marginalized for far too long.” Also in this episode, Bruce Katz, the Centennial Scholar, who discusses how European cities are addressing the refugee crisis in a new segment from our Refugee Series. Thanks to audio engineer and producer Zack Kulzer, with editing help from Mark Hoelscher, plus thanks to Carisa Nietsche, Bill Finan, Jessica Pavone, Eric Abalahin, Rebecca Viser, and our intern Sara Abdel-Rahim. Subscribe to the Brookings Cafeteria on iTunes, listen in all the usual places, and send feedback email to BCP@Brookings.edu Authors Arne DuncanFred Dews Image Source: © Khaled Abdullah / Reuters Full Article
vi Strengthening and Streamlining Prudential Bank Supervision By webfeeds.brookings.edu Published On :: Thu, 06 Aug 2009 09:03:01 -0400 There are a number of causes of the financial crisis that has devastated the U.S. economy and spread globally. Weakness in financial sector regulation was one of the causes and the proliferation of different regulators is, in turn, a cause of the regulatory failure. There is a bewildering, alphabet soup variety of regulators and supervisors for banks and other financial institutions that failed in their task of preventing the crisis and, at the same time, created an excessive regulatory burden on the industry because of overlapping and duplicative functions.We can do better. This paper makes the case for a single micro prudential regulator, that is to say, one federal agency that has responsibility for the supervision and regulation of all federally chartered banks and all major non-bank financial institutions. There would still be state-chartered financial institutions covered by state regulators, but the federal regulator would share regulatory authority with the states. The Objectives Approach to Regulation The Blueprint for financial reform prepared by the Paulson Treasury proposed a system of objectives-based regulation, an approach that had been previously suggested and that is the basis for regulation in Australia. The White Paper prepared by the Geithner Treasury did not use the same terminology, but it is clear from the structure of the paper that their approach is essentially an objectives-based one, as they lay out the different elements of regulatory reform that should be covered. I support the objectives approach to regulation. There should be three major objectives of regulation, as follows. • To make sure that there is micro-prudential supervisions, so that customers and taxpayers are protected against excessive risk taking that may cause a single institution to fail. • To make sure that whole financial sector retains its balance and does not become unstable. That means someone has to warn about the build up of risk across several institutions and perhaps take regulatory actions to restrain lending used to purchase assets whose prices are creating a speculative bubble. • To regulate the conduct of business. That means to watch out for the interests of consumers and investors, whether they are small shareholders in public companies or households deciding whether to take out a mortgage or use a credit card. In applying this approach, it is vital for both the economy and the financial sector that the Federal Reserve has independence as it makes monetary policy. Experience in the United States and around the world supports the view that an independent central bank results in better macroeconomic performance and restrains inflationary expectations. An independent Fed setting monetary policy is essential. An advantage of objectives-based regulation is that it forces us to consider what are the “must haves” of financial regulation—those things absolutely necessary to reduce the chances of another crisis. Additionally we can see the “must not haves”—the regulations that would have negative effects. It is much more important to make sure that the job gets done right, that there are no gaps in regulation that could contribute to another crisis and that there not be over-regulation that could stifle innovation and slow economic growth, than it is that the boxes of the regulatory system be arranged in a particular way. In turn, this means that the issue of regulatory consolidation is important but only to the extent that it makes it easier or harder to achieve the three major objectives of regulation efficiently and effectively. For objectives-based regulation to work, it is essential to harness the power of the market as a way to enhance stability. It will never be possible to have enough smart regulators in place that can outwit private sector participants who really want to get around regulations because they inhibit profit opportunities or because of the burdens imposed. A good regulatory environment is structured so that people who take risks stand to lose their own money if their bets do not work out. The crisis we are going through was caused by both market and regulatory failures and the market failures were often the result of a lack of transparency (“asymmetric information” in the jargon of economics). Those who invested money and lost it often did not realize the risks they were taking. To the extent that policymakers can enhance transparency, they can make market forces work better and help achieve the goal of greater stability. Having a single micro prudential regulator would help greatly in meeting the objectives of regulation, a point that will be taken up in more detail below. It is not a new idea. In 1993-94, the Clinton and Riegle proposals for financial regulation said that a single micro prudential regulator would provide the best protection for the economy and for the industry. In the Blueprint developed by the Paulson Treasury, it was proposed that there be a single micro prudential regulator. Read the full paper » (pdf) Downloads Download Authors Martin Neil Baily Full Article
vi Can the US sue China for COVID-19 damages? Not really. By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 14:58:58 +0000 Full Article
vi How is the coronavirus outbreak affecting China’s relations with India? By webfeeds.brookings.edu Published On :: Thu, 30 Apr 2020 12:02:00 +0000 China’s handling of the coronavirus pandemic has reinforced the skeptical perception of the country that prevails in many quarters in India. The Indian state’s rhetoric has been quite measured, reflecting its need to procure medical supplies from China and its desire to keep the relationship stable. Nonetheless, Beijing’s approach has fueled Delhi’s existing strategic and economic concerns. These… Full Article
vi Clouded thinking in Washington and Beijing on COVID-19 crisis By webfeeds.brookings.edu Published On :: Mon, 04 May 2020 18:41:17 +0000 In 2015, an action movie about a group of elite paratroopers from the People’s Liberation Army, “Wolf Warrior,” dominated box offices across China. In 2020, the nationalistic chest-thumping spirit of that movie is defining Chinese diplomacy, or at least the propaganda surrounding it. This aggressive new style is known as “wolf warrior diplomacy,” and although… Full Article
vi Pandemic politics: Does the coronavirus pandemic signal China’s ascendency to global leadership? By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 07:52:44 +0000 The absence of global leadership and cooperation has hampered the global response to the coronavirus pandemic. This stands in stark contrast to the leadership and cooperation that mitigated the financial crisis of 2008 and that contained the Ebola outbreak of 2014. At a time when the United States has abandoned its leadership role, China is… Full Article
vi A modern tragedy? COVID-19 and US-China relations By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 20:29:42 +0000 Executive Summary This policy brief invokes the standards of ancient Greek drama to analyze the COVID-19 pandemic as a potential tragedy in U.S.-China relations and a potential tragedy for the world. The nature of the two countries’ political realities in 2020 have led to initial mismanagement of the crisis on both sides of the Pacific.… Full Article
vi Webinar: Reopening and revitalization in Asia – Recommendations from cities and sectors By webfeeds.brookings.edu Published On :: As COVID-19 continues to spread through communities around the world, Asian countries that had been on the front lines of combatting the virus have also been the first to navigate the reviving of their societies and economies. Cities and economic sectors have confronted similar challenges with varying levels of success. What best practices have been… Full Article
vi Africa in the news: South Africa looks to open up; COVID-19 complicates food security, malaria response By webfeeds.brookings.edu Published On :: Sat, 25 Apr 2020 11:30:28 +0000 South Africa announces stimulus plan and a pathway for opening up As of this writing, the African continent has registered over 27,800 COVID-19 cases, with over 1,300 confirmed deaths, according to the Africa Centers for Disease Control and Prevention. Countries around the continent continue to instate various forms of social distancing restrictions: For example, in… Full Article