Economic Déjà vu

The recent recession that swept through this and many countries worldwide had many causes, one of which was low interest rates in the United States. Loose monetary policy pursued by former Chairman of the Federal Reserve Alan Greenspan was a major component of the housing crash and following recession. Furthermore, the Fed’s current monetary policy is extremely similar to policy pursued before the 2008 recession. The current system of monetary policy implemented in the U.S., necessitating that credit and debt expand forever, is a dangerous and potentially disastrous policy to be pursuing. Unless a change takes place, the American economy could experience another — and possibly worse — recession in the near future.

Rethinking Economics

Over the last five years, the field of economics has undergone a reconsideration of its role in society. With the exception of a select few (Rajan, 2005), most economists were blindsided by the housing crash in 2007 and subsequent financial meltdown. This has prompted both a rethinking of econoimc thought on the institutional and legislative curriculum, and the undergraduate economics curriculum, which has been led by Wendy Carlin at University College London and Diane Coyle of Enlightenment Economics. Additionally, students have begun to take important roles in the debate. In April, the student-run Post-Crash Economics Society (PCES) at the University of Manchester published a report titled Economics, Education and Unlearning, which provided a critique of economics education in the UK and at Manchester in particular. However, as the report points out, “the problems ... are certainly not limited to Manchester and are in fact international in scale”. While the report has its commendable strides, it falls short on two crucial aspects: the suggestion that economics cannot be a scientific discipline and the driving recommendation of the report for a move towards “pluralism” in the discipline. This essay will focus on these two issues and argue that they are fundamentally misguided.

Table of Contents

Letter from the Editor-in-Chief and Table of Content

The Third World War: A Look at the Implications of Climate Change on Global, National Security

President Donald Trump ran to be president of the United States on a platform rife with statements denouncing the credibility of anthropogenic — man-made — climate change. In a separate, but equally important, vein, President Trump also expressed a commitment to ensure the security of US citizens both domestically and abroad. Today, however, it’s difficult to address national security effectively without simultaneously addressing global climate change. The two issues are intimately interwoven, and ignoring one issue will compromise the success of solving the other

Shahs and Sanctions: The Story of Past, Present, and Future Tensions with Iran

It’s hard to deny that the historically intense distrust between the United States and Iran helps motivate some of the anti-deal sentiment in each country. It’s also, however, this same shared history of suspicion that may hold some of the most import-ant insights about the deal itself. The context for this understanding is the thread of Iranian-Western relations through the ages of colonialism and decolonization, the Islamic Revolution, and the formation of the current regime in Iran. A further layer of complexity in looking at the nuclear negotiations is added with the consideration of the contemporary social and political atmosphere in the Iranian domestic sphere. This often-overlooked background speaks of a situation far more complex than what many who oppose the accords seem to entertain and that must be taken into account if the United States and the West want to see long-term diplomatic success with Iran

Charlie Hebdo and the Future of Free Speech

The Charlie Hebdo attack and its aftermath was the most significant France had experienced since a 1962 train bombing — related to the war in Algeria — outside Paris. Moreover, it seems altogether foreign and incomprehensible to the relatively liberal standards of our society that the motivation for such atrocious violence was vengeance for the mere act, conflated into a crime, of drawing a cartoon. While it may seem natural to most Westerners, the response to the Jan. 7 attacks looks almost absurd when approached from a different point of view. Rénald Luzier, the figure behind the cartoon that seemed to spur controversy, himself highlights the irony of Western leaders — who more often than not look at satirists like those employed at Charlie Hebdo as “agitators” — declaring the slain satirists “white knights defending free speech”. The definitive characteristic transformed a weekly burlesque, whose parent publication described itself as a “stupid and vicious magazine”, into a hero of modernity. This reflects, quite simply, a feeling throughout the Western world that intrinsic rights are under attack.

Millennial’s Political Activism

Political activity is a telling behavior about a generation, influencing how policy makers in the U.S. do their jobs and how budgets are set. A generation without any political activity risks missing out on benefits from activity, while an active generation may help shape the institutions and traditions in a political culture. There are significant challenges to measuring individual political activity, and the question isn’t simply “how politically active are you?” A tool traditionally used to address this challenge is a seven- point scale based on the correlation between an individual’s party identification and political activism. This measurement allows polltakers to label themselves as strong or weak for either major party, independent leaning Republican/Democrat or truly independent. For a deeper look, scholars can gauge political activism by examining a number of sub-levels of activism, rather than relying simply on a seven-point scale. Social identity has become an important way to measure levels of partisanship and interest amongst the citizenry.

Under the Skin: Russia’s Budding Healthcare Crisis

Behind the ghost of the Iron Curtain lurks a public health crisis. Superseded in the media by East-West tension and military flare-ups, infectious disease has launched its own war on the Russian Federation. Besides the HIV epidemic, which has continued to escalate for decades, the Russian Federation has become a greenhouse for multidrug resistant tuberculosis (MDR TB). This problem is not just a problem of the Russian Federation, but has worldwide significance due to the spread of resistant TB. Furthermore, the issue has not received the attention it deserves from the international media or the Russian government.  MDR-TB in Russia needs to be taken more seriously

Student as Consumer: What Three Decades of Higher Education Policy Mean to K-12

The diminishing educational outcomes and academic rigor, which have come to define the American collegiate experience, result from a misguided economic policy that places students as consumers in an “educational marketplace”.

Vouching for a Head Start Reformation

In the words of Jack Shonkoff, Director of Harvard’s Center on the Developing Child: the quality of the foundation built in early childhood, whether it is strong or fragile, affects future development, health, learning and economic success. With a strong foundation, babies move easily through more and more complex learning stages. And “although it’s never too late to learn new skills since the brain never stops developing, it’s just harder and less effective to build on a weak foundation than it is to get development right the first time”. This speaks to the growing trend and continuation of a national and international effort to restructure our orphanages and homes to better suit the proper developmental needs of children. In conjunction with these changes, the United States government has also increased its focus on improving early childhood education and interactions for those in communities usually bereft of these opportunities. One such program, Head Start, was created in 1965 to prepare low-income students for elementary school. It has evolved and changed over the last five decades and now faces a key juncture that will determine its future.