Portugal: Can Socialism Survive?

Richard H.K. Vietor; Haviland  Sheldahl-Thomason

Case | HBS Case Collection | January 2018 (Revised March 2018)

Portugal: Can Socialism Survive?

by Richard H.K. Vietor and Haviland Sheldahl-Thomason

Abstract

Portugal was not ready to join the European Monetary Union in 1999. With strong unions, weak competitiveness, and a legacy of socialism, it could not compete with north-European countries. After borrowing extensively to fund deficits, Portugal went into debt crisis in 2011 and had to borrow from the Troika. As banks failed, structural adjustment followed. Today several structural issues and the threat of external risks continue to cast a shadow on its otherwise remarkable recovery.

Keywords: Economy; Financial Crisis; Economic Systems; Portugal;

Language: English

Format: Print

36 pages

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Citation:

Vietor, Richard H.K., and Haviland Sheldahl-Thomason. "Portugal: Can Socialism Survive?" Harvard Business School Case 718-024, January 2018. (Revised March 2018.)

Case | HBS Case Collection | June 2018 (Revised December 2018)

Renegotiating NAFTA

Laura Alfaro and Haviland Sheldahl-Thomason

January 1, 2019 marked the 25th anniversary of the North American Free Trade Agreement (NAFTA). Twenty-five years after the landmark trade pact was signed by the United States, Canada, and Mexico, considerable debate surrounded it. Trade and trade agreements were a focal point of the 2016 U.S. presidential election. NAFTA came into effect on January 1, 1994, after being backed by the Republican administration of U.S. President George H. W. Bush and the Democratic administration of U.S. President Bill Clinton during its implementation. It created the largest free trade area in the world at the time. Since implementation, total trade between NAFTA countries grew 280%; in comparison while trade to non-NAFTA partners grew by 195%. Critics of NAFTA claimed that it had contributed to a loss of manufacturing jobs to Mexico, increased inequality in all countries, and undercut environmental laws. Those who supported NAFTA, however, noted that in addition to trade, output, and overall employment, investment among the three nations increased, and productivity also grew. Furthermore, the agreement led to lower prices. By 2018, all countries experienced low unemployment rates. With changes in NAFTA looming, many questioned whether the accord had brought more benefits than costs to its signatories. Could the costs be minimized under a new agreement without reducing the benefits? Did buying local goods help create the most jobs in a country? What was the role of business? Everyone wondered what the potential ramifications of the new NAFTA, or lack of, would be.

Keywords: Trade; Negotiation; Agreements and Arrangements; Cost vs Benefits;

Citation:

Alfaro, Laura, and Haviland Sheldahl-Thomason. "Renegotiating NAFTA." Harvard Business School Case 318-143, June 2018. (Revised December 2018.) View Details

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