How do federal regulations affect consumer prices? An analysis of the regressive effects of regulation

This study is the first to measure the impact of federal regulations on consumer prices. By combining consumer expenditure and pricing data from the Bureau of Labor Statistics, industry supply-chain data from the Bureau of Economic Analysis, and industry-specific regulation information from the Mercatus Center’s RegData database, we determine that regulations promote higher consumer prices, and that these price increases have a disproportionately negative effect on low-income households. Specifically, we find that the poorest households spend larger proportions of their incomes on heavily regulated goods and services prone to sharp price increases. While the literature explores other specific costs of regulation, noting that higher consumer prices are a probable consequence of heavy regulation, this study is the first to provide a thorough empirical analysis of that relationship across industries. Irrespective of the reasons for imposing new regulations, these results demonstrate that in the aggregate, the negative consequences are significant, especially for the most vulnerable households.

     

Fat Cats,Production Networks,and the Right to Fair Pay

Should there be a legal right to fair pay so that anyone might challenge the relative fairness of their pay? International human rights law does not clearly support such a right, partly due to the uncertain meaning of fairness in pay. The article challenges this uncertainty, explaining the marginal relevance of theories of distributive justice. Standards of fairness should be discovered instead in principles of interpersonal justice, particularly the bilateral principle of good faith, and in associational principles of desert by reference to contribution and recognition of persons. These contain an egalitarian impulse providing moral reasons for rejecting market rates of pay and, it is argued, should apply beyond single corporate entities, to corporate groups and networks of companies sharing an integrated production scheme. Finally, appropriate regulations enacting a legal right to fair pay are explored with a view to achieving reflexive yet effective regulation using works councils to fix outer limits to wage dispersal ratios.     

India’s Growth Slowdown: End of an Era?

This article examines the sources of rapid economic growth in India in the 2000s and explanations for the growth slowdown in more recent years. We use the Indian national accounts and the National Sample Survey (NSS) to perform a growth accounting analysis. We disaggregate the total economy into agriculture, industry and services and separately identify the contributions of labor, capital and improvements in productivity. Services account for the largest share of the acceleration in 2000-10. Industry, on the other hand, is the sector most reflective of the recent slowdown. The high growth of the 2000s can be traced to strong capital accumulation, improvements in labor skills and large productivity gains. A slowing in the pace of economic reform and a general deterioration in fiscal and monetary policies appear to be the major factors responsible for the slower pace of growth since 2010.     

Human Branding in Political Marketing: Applying Contemporary Branding Thought to Political Parties and Their Leaders

Political marketing advances by engaging with new and advanced concepts from both of its parent disciplines. One of the most recent fields of brand research—the study of the human brand—is taken into the political marketing arena in this essay. Human branding is an emergent topic in mainstream marketing. The value as a brand of a person who is well-known and subject to explicit marketing communications efforts is being investigated in many fields. The concept has clear prima facie value in political marketing, where the role of a political leader as part of the political marketing offer has been recognized extensively. Politics is also a unique context given the relationship between leaders and parties, each of which has some unique brand associations. The process of exploring the application of human branding in politics also provides a context in which some of the interactions among party and leader, human brand, and organizational brand can be explored and further developed. Among the conclusions are that political party leaders require brand authenticity as an advocate of the party policy platform and brand authority to command the organization and deliver on the policies being advocated. Implications for party and campaign management are outlined.