Global Economy

The Global Economy Program provides research, communications, and networking support to dynamic economic justice movements in the United States and around the world. Our goal is to speed the transition to an equitable and sustainable economy while reversing today’s extreme levels of economic and racial inequality and excessive corporate and Wall Street power. The program focuses its work on six inter-related areas:

Inequality and CEO Pay
The program collaborates with a broader IPS team to produce Inequality.org and a related weekly newsletter that highlights the latest data and the sharpest strategies to reverse extreme inequality in the United States and around the world. The program is also a leading resource on one key driver of inequality — runaway CEO pay. For more than two decades, our annual report series “Executive Excess” has drawn extensive media coverage to the issue of CEO pay and practical solutions. A newer report series, “A Tale of Two Retirements,” is the first to track the staggering gap in retirement benefits between wealthy CEOs and ordinary Americans.

Trade, Investment, and Mining
The program works with grassroots activists around the world to advance alternative international trade and investment policies that elevate environmental, human, and labor rights above narrow corporate interests. In recent years program staff have played a lead role in supporting a successful campaign in El Salvador to defend against global mining corporations’ attempts to steamroll local resistance to harmful extractives projects.

Black Workers Initiative
The Black Worker Initiative aims to help expand opportunities for black worker organizing and thereby greatly contribute to the revitalization of the U.S. labor movement as a whole. This program is deeply committed to helping achieve both the historic and contemporary aims of the labor and civil rights movements.

Wall Street and Global Finance
IPS staff play lead roles in coalitions working to restore the financial sector to its proper purpose of serving the real economy. We track the reckless Wall Street bonus culture, for example through our annual “Off the Deep End” report on the size of the financial industry bonus pool versus the cost of paying restaurant servers and domestic workers a living wage. We also advance innovative reforms such as a small tax on Wall Street speculation to curb short-term trading and generate massive revenue for urgent public needs, such as fixing our crumbling national infrastructure.

Low-Wage Workers
IPS staff play lead roles in coalitions working to restore the financial sector to its proper purpose of serving the real economy. We track the reckless Wall Street bonus culture, for example through our annual “Off the Deep End” report on the size of the financial industry bonus pool versus the cost of paying restaurant servers and domestic workers a living wage. We also advance innovative reforms such as a small tax on Wall Street speculation to curb short-term trading and generate massive revenue for urgent public needs, such as fixing our crumbling national infrastructure.

Inequality.org
Inequality.org and a related weekly newsletter are key resources for the public at large, journalists, teachers, students, academics, activists, and others seeking information and analysis on wealth and income inequality. Here, we collect the latest developments on inequality and keep readers abreast of relevant information concerning the widening wealth gap. We highlight stories from activists on the front lines of the fight against extreme inequality and share information that can be used for ongoing campaigns.

Latest Work

The G20 and the New World Order

Signs of China’s growing influence are inescapable in Cannes.

The Costs of Wall Street Greed

Despite growing support in Europe and elsewhere, the Obama administration has remained opposed to a Wall Street tax.

Taxing the Wall Street Casino Fact Sheet

Governments around the world are struggling to deal with the crushing problems of joblessness, poverty, and climate change. A financial speculation tax is the best option on the table to raise the massive revenues needed to address these urgent needs.

Occupy Wall Street’s Deep Roots

If Howard Zinn were alive today, he’d be writing a new chapter right now.

WIN America Coalition Seeks to Pad Pockets with “Tax Holiday”

Tax holiday proponents have delivered losses to American workers.

Job Destroyers Don’t Deserve a Tax Holiday

When thinks tanks from the left and the right agree on something, Congress should pay attention.

When IPS and the Heritage Foundation Agree that Something’s a Bad Idea, It Probably Does Stink

A bipartisan Senate bill that would grant corporations a tax holiday is slated to be introduced tomorrow, just days after the progressive and conservative organizations released reports about how these tax giveaways don’t spur job growth.

America Loses: Corporations That Take “Tax Holidays” Slash Jobs

Some of America’s most flush corporations are demanding a tax holiday on their profits sitting offshore. But the last holiday produced a nasty hangover.

Uncle Sam Should Support Built-to-Last Companies, Not Built-to-Loot Enterprises

There’s nothing holding back the corporations demanding another tax holiday from investing in America right now.

Heroes Fighting to Save the Middle Class: Wisconsin’s Progressives

The Institute for Policy Studies recognizes Wisconsin’s progressive movement with the prestigious Letelier-Moffitt Human Rights Award.

No Confidence Man – Larry Summers

Lawrence Summers’ name comes up repeatedly in Ron Suskind’s new book as a person who was not only disrespectful to the President but also kneecapped most of what the President wanted to do.

Stop Corporate Tax Dodgers: IPS Media Highlights

IPS is putting tax dodging corporations on the ropes.

Obama Supported Financial Transactions Taxes – Before Summers Nixed It

It’s not too late for the president to revisit some of his earlier positions in support of progressive economic policies, including financial transactions taxes.

It’s Time to Study Social Security’s Origins

The Great Depression taught Americans that the costs of unemployment and poverty are shared by all of us.

Jeff Immelt, GE CEO – Corporate Tax Dodger

If there were an Olympics for tax dodging, General Electric would sweep the gold. Last year GE reaped $3.3 billion in federal income tax refunds, despite more than $5 billion in U.S. profits

Ivan Seidenberg – Corporate Tax Dodger

Phone customers paid more to Uncle Sam than the telecom giant Verizon.

Sen. Durbin Floor Speech on IPS CEO Pay Report [VIDEO]

Senator Dick Durbin (D-IL), Senate Majority Whip, spoke about the IPS Executive Excess report during a floor speech about how corporate accountability can help the U.S. overcome the current economic crisis.

How Obama is to the Right of Reagan on Trade

I hate to break it to the Tea Partiers, but their presidential idol was less of a free-market hardliner in trade negotiations than Barack Obama.

John Strangfeld, Prudential – Corporate Tax Dodger

Prudential Financial is reaping low-income housing tax refunds by investing in luxury hotels.