European employees work fewer hours per year, and use less energy per person, than their American counterparts. This article compares the European and U.S. models of labor productivity, supply, and energy consumption. It finds that if employees in the EU-15 worked as many hours as those in the United States, they would consume at least 15 percent more energy. This aspect of the debate over Europe's economic model reaches globally. Over the coming decades, developing countries will decide how to make use of their increasing productivity. If, by 2050, the world works as do Americans, total energy consumption could be 15 to 30 percent higher than it would be if following a more European model. Translated directly into higher carbon emissions, this could mean an additional 1 to 2 degrees Celsius in global warming.

Th is paper examines data on economic growth and various social indicators and compares the past 25 years with the prior two decades . Th e paper fi nds that the past 25 years in low-and middle-income countries have seen a sharp slowdown in the rate of economic growth, as well as a decline in the rate of progress on major social indicators including life expectancy and infant and child mortality. Th e authors conclude that economists and policy-makers should devote more eff ort to determining the causes of the economic and development failure of the last quarter-century. JEL Classifi cation: O10, O40, O11

This note compares the performance of the Mexican economy with that of the rest of the region over 23 years, since NAFTA took effect, based on the available economic and social indicators. Among the results, it finds that Mexico ranks 15th out of 20 Latin American countries in growth of real GDP per person, the most basic economic measure of living standards; Mexico’s poverty rate in 2014 was higher than the poverty rate of 1994; and real wages (inflation-adjusted) were almost the same in 2014 as in 1994. It also notes that if NAFTA had been successful in restoring Mexico’s pre-1980 growth rate —when developmentalist economic policies were the norm— Mexico today would be a high-income country, with income per person comparable to Western European countries. If not for Mexico’s long-term economic failure, including the 23 years since NAFTA, it is unlikely that immigration from Mexico would have become a major political issue in the United States, since relatively few Mexicans would seek to cross the border.

The era of globalization has brought substantially less progress than was achieved in the preceding 20 years. This study by the Center for Economic and Policy Research concludes that the data provide no evidence that the policies associated with globalization have improved outcomes for developing countries, and its findings challenge economists and policymakers who cite globalization as an engine of growth while pressing for policies that strengthen the trend. The study also served as a backdrop to the release of the United Nations Development Program's Human Development Report on July 11, 2001. Using standard measures of economic growth, health outcomes, education, and literacy, the CEPR study compares the progress achieved during the period preceding globalization, 1960-80, with the period from 1980 to 2000, which was characterized by the reduction of tariff and nontariff barriers to trade, the removal of restrictions on international investment flows, and increasing intervention by the International Monetary Fund and World Bank on a wide range of economic and policy issues. While the evidence presented here does not prove that the policies associated with globalization were responsible for the deterioration in economic performance, it does present a very strong prima facie case that some structural and policy changes implemented during the last two decades are at least partly responsible for these declines.

No abstract