The Price of Civilization_ Reawakening American Virtue and Prosperity - Jeffrey D. Sachs [124]
14. Pew Research Center, “Trends in Political Values and Core Attitudes: 1987–2009,” May 21, 2009, pp. 72–73, 140.
15. Ibid., p. 106.
16. USA Today/Gallup Poll, June 11–13, 2010.
17. Jon Cohen, “Most Americans Say Regulate Greenhouse Gases,” Washington Post, June 10, 2010.
18. Rasmussen Reports, “Support for Renewable Energy Resources Reaches Highest Level Yet,” January 2011.
Chapter 6: The New Globalization
1. Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (Oxford: Oxford University Press, 1993), Book 4, Chapter 7.
2. United Nations Conference on Trade and Development (UNCTAD), “Largest Transnational Corporations,” Document 5, http://www.unctad.org/templates/page.asp?intItemID=2443&lang=1.
3. For details on General Electric, see General Electric website and annual 10-K filing.
4. Foreign profits are equal to corporate earnings from abroad minus domestic earnings paid to foreign investors. Earnings from abroad include both the foreign profits of U.S. multinationals and the dividends received by U.S. residents paid by unaffiliated foreign corporations. The rising trend in the figure reflects in part the rising share of corporate profits earned by U.S. companies in their overseas operations, but may also reflect a rising tendency of U.S. companies to book their profits in overseas tax havens through artificial transfer pricing (that is, using artificial prices for cross-border transactions within the firm for the purpose of shifting reported corporate revenues to low-tax jurisdictions). Even if part of the rising share of foreign profits reflects artificial transfer pricing rather than actual changes in the location of corporate activities, the increased use of transfer pricing to avoid taxes would itself be a manifestation of the new globalization.
5. For U.S.-China trade: U.S. Census Bureau, “Foreign Trade: Trade in Goods with China.” For U.S. value-added data: U.S. Department of Commerce, Bureau of Economic Analysis, “Industry Economic Accounts.”
6. U.S. Bureau of Labor Statistics, “Current Employment Statistics: National.”
7. U.S. Bureau of Labor Statistics, “Establishment Data: Historical Employment.”
8. Ibid.
9. Shan Jingjing, “Blue Book of Cities in China,” Chinese Academy of Social Science.
10. UN Population Division Home Page.
11. The current shorthand for the emerging economies is the BRIC group: Brazil, Russia, India, and China, with a combined population of around 2.7 billion. If we define an emerging market to be any fast-growing developing country that is able to attract market-based private capital for a rapid scale-up of industrial production, we would want to include dozens more countries, including Chile, Egypt, Mexico, Nigeria, South Africa, and Vietnam. The combined real GDP of the developing world grew by around 7 percent in 2010, showing the scope of rapid growth in today’s developing countries.
12. H. Garretsen and Jolanda Peeters, “Capital Mobility, Agglomeration and Corporate Tax Rates: Is the Race to the Bottom for Real?,” CESifo Economic Studies 53, no. 2 (2007), pp. 263–93.
13. See Table 2.3 of the Office of Management and Budget Historical Tables.
14. For example, see Rasmussen Reports, “Energy Update,” April 2011.
Chapter 7: The Rigged Game
1. In the 2010 Swedish elections, for example, eight parties entered the Parliament and four are part of the governing coalition. The American political system, and to a lesser extent the systems of the United Kingdom, Canada, and Australia, are majoritarian; the parliamentary democracies of Western Europe tend to be consensus systems.
2. Maurice Duverger, “Factors in a Two Party and Multiparty System,” in Party Politics and Pressure Groups (New York: Thomas Y. Crowell, 1972), pp. 23–32.
3. All data from OECD Social Expenditure Database and OECD Statistical Database.
4. Consensus is also difficult because